Lithia results hit by CDK outage while market conditions hurt used profits
Image courtesy of Lithia & Driveway.
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Lefkoff Law: ‘Trickle down’ to dealers of VinSolutions’ security incident ‘could be enormous’
Lefkoff Law principal and founding attorney Steven Lefkoff immediately arrived at this assertion when he learned that Cox Automotive on Monday acknowledged “suspicious activity” that was “quickly contained” within VinSolutions. “The trickle down to the dealers could be enormous because ultimately the dealers, under federal law, under the Safeguards Rule, are still responsible if their […]
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Dealer M&A: Lithia, Anderson Automotive expand in Southeast
Lithia & Driveway has acquired four Kia and Hyundai dealerships in Memphis, Tenn., from Gossett Motor Cars, more than doubling the retailer’s footprint in the city. That’s according to a news release from Kerrigan Advisors, which represented the seller. The transaction included Gossett Kia, Gossett Hyundai, Gossett Kia South and Gossett Hyundai South. “Serving Memphis […]
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COMMENTARY: Auto transportation costs are changing the economics of vehicle acquisition
A vehicle can look like a great buy at auction until a dealership factors in what it will cost to get it to the lot. Transportation has always been part of the cost of acquiring inventory for a dealership. But these days, it’s a whole new ballgame. With diesel prices shifting, carrier availability changing and […]
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