Explosive allegations and language surfaced on Tuesday via the unsealing of a Justice Department indictment charging Daniel Chu, the founder and former CEO of Tricolor Holdings with orchestrating a years-long financial crimes enterprise that defrauded multiple banks and other private credit providers. Officials said Chu and David Goodgame, Tricolor’s former COO, were also charged with […] [Read More]

Lucid Group has officially launched a certified pre-owned program, the electric vehicle maker said Monday. Lucid Recharged will include single-owner vehicles with less than 62,000 miles. These vehicles will undergo an inspection process that includes more than 160 points, then receive mechanical and cosmetic reconditioning with Lucid-only parts, as needed. The CPO vehicles include the […] [Read More]

Go Auto is on the go. And right now, its destination is clearly the United States. The Canadian dealership group announced it has acquired Sunrise Ford Fontana and Sunrise Ford North Hollywood in California from Kevin Knight of the Knight Group, a move Go Auto called “a transformative step” as the company reaches deeper into […] [Read More]

Perhaps dealers aren’t expecting an immediate lift from the Federal Reserve lowering interest rates for the third time this year. But overall credit availability already appears to be as good as it’s been in about three years. Cox Automotive reported two days before policymakers revealed their rate decision that the Dealertrack Credit Availability Index reached […] [Read More]

The Federal Trade Commission said this week it is now sending checks totaling more than $9.6 million to eligible consumers impacted by CarShield’s misleading claims about its vehicle service contracts. The regulator recapped that last July, CarShield, a seller of vehicle service contracts, and American Auto Shield (AAS), the administrator of those contracts, agreed to […] [Read More]

Walk into any major hospital administrator’s office, and you will hear them talk about one critical metric: bed occupancy rate. An empty hospital bed is a fixed cost that generates zero revenue. It is a wasted asset. Now, walk into your service department and look at your lifts. Every service bay in your dealership is […] [Read More]

Set for purchase and shipping to users this month, PassTime on Monday announced the launch of Encore 5, the fifth generation of the company’s platform for location solutions specializing in asset tracking. PassTime described Encore 5 as its “boldest upgrade yet” with enhancements to the device hardware and feature set. Launched more than six years […] [Read More]

This wasn’t the first year Jim Ellis Automotive Group has held its annual CPO Product Presentation Walk-Around competition. However, it was one of the best attended. In its ninth year, the event, held on Nov. 6, was dedicated to veterans, a cause that organizers said drew a sizeable crowd. What began as a walk-around competition […] [Read More]

On Wednesday, the Federal Reserve lowered the federal funds rate for the third time this year, reducing the range to 3.5% to 3.75%. The latest Cox Automotive Dealer Sentiment Index showed the economy remains the top factor holding back business, increasing significantly in the fourth quarter, with 51% of dealers citing it, up from 44% […] [Read More]

RPM Freight Systems announced an acquisition that expands the company into such corporate fleet services as driveaway, vehicle storage and titling and registration. RPM, a non-asset-based logistics and supply chain solutions company, said Tuesday it has purchased Professional Automotive Relocation Services. “We are thrilled to have the support of Trive Capital and BlueJay Capital in […] [Read More]