Group 1 Automotive made two acquisitions in the United Kingdom last week: a dealership and a CEO. The U.S.-based dealership group added Soper of Lincoln BMW/MINI in the county of Lincolnshire, north of London, to its extensive U.K. holdings. Group 1 said the acquisition is expected to generate approximately $125 million in annual revenue. Group […] [Read More]

In North Carolina, particularly the half west of Greensboro, no sport outside of college basketball has as deep of roots as NASCAR. And in the aftermath of deadly and devastating Hurricane Helene, from those roots comes support as solid as an oak — thanks to two homegrown giants of the sport and the respective Charlotte-based […] [Read More]

Carvana has reached a major milestone. The online used car retailer announced Thursday it has sold more than 2 million cars and purchased more than 2 million cars from customers since it was founded in 2013. “Carvana’s mission has always been to change the way people buy and sell cars, and we are honored to […] [Read More]

Numa just got a $32 million boost. The artificial intelligence platform for auto dealerships announced a $32 million Series B funding round, led by Touring Capital, a growth-stage firm focused on AI-powered software, and Mitsui & Co., a global conglomerate that generates $1.2 billion in annual profit from automotive and mobility. Previous investors Costanoa Ventures, […] [Read More]

AutoClaimHelpers.com is looking to change the conversation when it comes to negotiating with customers looking to replace a totaled vehicle. The Toronto-based company, a division of Automall Network, said its North America-wide partner program allows dealers to enhance their customer service offerings at no charge while making it easier to attract new clients and retain […] [Read More]

automotiveMastermind wants to let car dealers look deeper into the minds of potential car buyers. The data and technology provider has launched new machine learning and predictive data algorithms in its Behavior Prediction Score, and has redesigned the Customer Deal Sheet user interface to make it easier to use. The changes, which are available to […] [Read More]

Digital marketing provider Dealers United has added Chad King and Wendy Gill as regional sales vice presidents, hires the company said underscore its commitment to expanding its market presence and enhancing its service to dealers nationwide. King’s 14 years of automotive experience includes stints with Cox Automotive and CarNow, where he most recently served as […] [Read More]

Demand for qualified automotive technicians is high, in large part because the supply of those techs is low. According to the TechForce Foundation’s most recent Technician Supply and Demand Report, almost 800,000 additional technicians are needed by 2027 to fill the gap. But three organizations — the nonprofit Inter-Industry Conference on Auto Collision Repair, dealership […] [Read More]

Cox Automotive brands have a presence in all parts of the auto retail industry. Now it’s putting them all together to create what it’s calling the “first and only true omnichannel car-buying experience.” Retail360 is a suite of tools designed to enable that experience by connecting the entire auto retail ecosystem along every step of […] [Read More]

After a rough first quarter, CarMax saw its net income surge in the second quarter despite a slight slowdown in sales revenue. The behemoth used-car retailer also boosted the amount of inventory it acquired, especially from dealers.    “We're pleased with our team's execution in the second quarter, as we achieve positive sales trends, strong margins, cost efficiencies, and EPS growth, while managing through industry-wide auto loan loss pressure,” CarMax president and CEO Bill Nash said during the earnings call. Net income in the second quarter ... [Read More]