Things are changing at CarMax. With retail used-vehicle sales and gross profit down 3.1% year-over-year for the quarter ending May 31 – the first quarter of the company’s 2025 fiscal year – CarMax’s emphasis has turned to making the most of what it brings in through cost reduction. “What we’re focused on is ... [Read More]

GenZ Automotive is linking its F&I programs to electric vehicle charging infrastructure. During last week’s NIADA Convention and Expo, the company announced the launch of its ChargeClub, which allows its F&I customers to earn EV credits – similar to airline frequent flyer miles – that can be redeemed for EV charging hardware, which it said […] [Read More]

With only 13 EVs/PHEVs now qualifying for the full IRA Federal incentive of $7,500 due to sourcing requirements, it is clear that EV/PHEV leasing, with the 45W rule that grants the commercial user the full credit with no sourcing requirements, will inevitably be the preferred “sale” of choice for many OEMs and finance institutions. However, […] [Read More]

More than a dozen U.S. dealerships from New Jersey to California agreed to retail electric vehicles from Fisker Group since the manufacturer hosted an open house in late January. Those plans might be moot as the company announced that it filed for Chapter 11 protection in the District of Delaware. According to a news release […] [Read More]

On the agenda of the 2024 NIADA Convention and Expo, the time allotted for Monday’s general membership meeting was one hour. It wound up lasting almost three times that long, as members of the National Independent Automobile Dealers Association debated and voted on the fate of president-elect Michael Darrow. When the meeting in a ballroom […] [Read More]

Ken Garff Automotive Group has sold Northwest Chrysler Dodge Jeep Ram in Houston to Keating Auto Group, said Kerrigan Advisors, which represented Ken Garff in the deal. Keating Auto Group is based in Victoria, Texas, and has roughly 30 stores in the state. The Northwest CDJR store had been owned by Ken Garff since 2007. […] [Read More]

With the latest addition to its same-day delivery service, Carvana has reached a milestone. The online used-vehicle retailer has expanded same-day delivery to select residents of the Newark, N.J., the 15th market, representing 12 states, to be included. Carvana said that means the service is now available to approximately 25% of the U.S. population. “At […] [Read More]

Last year, ZT Automotive, the automotive portfolio entity of ZT Corporate, announced a strategy to “transform” the dealership group to create “deeper alignment across its dealerships that drives operational efficiencies and an enhanced customer journey.” In the first half of 2024, the company has taken a big step toward that transformation with the addition of […] [Read More]

CarNow has introduced a new software system to make digital retailing simpler for independent car dealers and their customers. The company said Conversion+ is a “shopper-centric” system that was developed starting with CarNow’s Real Time Retail platform, a full suite of integrated services for franchised dealerships, then removing complexities that often exceed the needs of […] [Read More]

Four automotive companies were selected by U.S. News & World Report for its latest list of Best Companies to Work For. Cars.com Inc., d/b/a Cars Commerce, on the list for the second consecutive year, was joined by CarGurus, Credit Acceptance and Penske Automotive from the auto industry. The magazine said the 300 companies on its […] [Read More]