A just-announced acquisition by Penske Automotive Group is expected to generate approximately $200 million in annualized revenue for the company, while expanding its footprint in the Lone Star State. The company announced this week that it has acquired the Frank Smith Toyota-Scion and Hyundai dealerships in Pharr, Texas.  Both dealerships operate in the Rio Grande […] [Read More]

The International Automotive Remarketers Alliance (IARA) Canada announced the winners of the 2013 IARA Builders Award today. Honored this year are Lisa Scott and Steve Macaluso, co-chairs of IARA Canada. Alex Johnston, IARA Canada Awards and Recognition committee lead said, “While many have contributed, Lisa and Steve are to thank for planting the seed of […] [Read More]

Mercedes-Benz Canada revealed this week its 2014 Star Dealers list. These awards honor the top 10 authorized Mercedes-Benz dealers in Canada, “reinforcing the critical role that each dealership plays in the overall success of the Mercedes-Benz, AMG, smart and Sprinter brands in Canada,” the company explained. The Star dealers are selected from the company's nationwide […] [Read More]

I had an “uh-huh!”-type moment while reading the New York Times opinion pages this weekend. As the parent of a teenage son, the “Can’t We Do Better” column from Thomas Friedman discussing the progress of American teens in schools caught my attention. In the column, Friedman suggests today’s kids will “need to be constantly improving […] [Read More]

As Asbury Automotive Group senior vice president and chief financial officer Scott Krenz readies for retirement from the position of CFO on Dec. 31, the company this week announced his successor. Named to the role of CFO effective Jan. 1 is current vice president of finance Keith Style. “We thank Scott for his valuable service […] [Read More]

Ever heard of the methodology of not having to reinvent the wheel in order to accomplish a certain task? That’s the point Paul Potratz tried to make during his latest online video commentary of dealer advertising. As he often does during his series, “Think Tank Tuesday,” the chief operating officer and founder of Potratz Partners […] [Read More]

Lithia Motors Inc. this week announced it has acquired a new Golden State store expected to boost annual revenues by $50 million. Added to Lithia’s California lineup of Subaru shops is Diablo Subaru of Walnut Creek. “We are excited to add another Subaru store to the Lithia family,” said Bryan DeBoer, president and chief executive […] [Read More]

Many high-end vehicle dealers in Canada are breathing a sigh of relief as Canadian and U.S. law enforcement agencies cracked down on an international vehicle theft crime ring, recovering $3.2 million in assets. Car recovery company LoJack Corp. reported its part in the recent bust, providing insight into the international crime ring investigation titled “Project […] [Read More]

Following a report from the Federal Reserve indicating a rather mixed bag of results from its regions where contacts shared used-car sales numbers, Auto Remarketing reached out to Cross-Sell Reports — a division of Dominion Dealer Solutions — for additional insight into how the used-car market has fared in various states throughout the U.S. Contained […] [Read More]

Group 1 Automotive this week announced its acquisition of Jay Automotive Group Inc. in Columbus, Ga. The move includes franchises Jay Toyota Scion; Jay Buick GMC; Jay Subaru of Columbus; Jay Mazda; and Volvo of Columbus.  The dealerships, which will operate as Rivertown Toyota; Rivertown Scion; Rivertown Buick GMC; Rivertown Subaru; Rivertown Mazda; and Volvo […] [Read More]