Late on Monday, crucial updates from the U.S. Department of the Treasury and the Internal Revenue Service arrived about programs aimed to help both businesses and individuals through the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Furthermore, the U.S. Chamber of Commerce created a guide to help small businesses, independent contractors and gig economy workers […] [Read More]

Dealer groups continue to keep busy with activities and announcements during the COVID-19 pandemic. Purdy Mobility, which owns and operates Bryan College Station Toyota, Huntsville Toyota and South Toyota in Texas, said on Monday it would not terminate or lay off any of its associates as a result of the pandemic. Bob Moore Auto Group […] [Read More]

In a letter to President Donald Trump last week, National Auto Auction Association chief executive officer Frank Hackett voiced his support of efforts made by franchised and independent car dealers, who are asking the president for clarification that sales and leasing at their stores is an essential service. Hackett also emphasized the importance that auto […] [Read More]

Just about a week after landing a funding commitment of up to $2.0 billion from Ally Financial, Carvana is turning back to the investment community to generate more financial resources. On Monday morning, Carvana announced the pricing of a registered direct offering of 13.3 million shares of Class A Common Stock to certain existing investors. […] [Read More]

General Motors Corp. retained its position as the leader in automotive manufacturer loyalty in this year’s Automotive Loyalty Awards from information and analytics company, IHS Markit. The awards, which recognize OEMs and brands for their leadership in customer retention, are now in their 24th year. The program recognized automotive manufacturers and brands for top customer retention […] [Read More]

Editor's Note: NIADA made content connected with this webinar and other strategic material to help dealers available on a special website located at COVID19.NIADA.com. The National Independent Automobile Dealers Association understands one of the most valuable assets operators ever can have — cash — has been taken to unprecedented importance during the coronavirus pandemic. And NIADA wants members […] [Read More]

Hudson Cook partner Lucy Morris cautioned the financial-services industry not to set aside completely a task that might have been a top priority before the coronavirus pandemic arrived. “As the public health crisis spreads and worsens, one might think that law enforcement agencies like the Consumer Financial Protection Bureau and Federal Trade Commission would pause […] [Read More]

Even before the COVID-19 coronavirus became a pandemic and changed operational strategy in the auto industry, both the wholesale and retail segments of automotive were shifting towards increasingly digital futures that seemed poised to blend online and brick-and-mortar operations. With that fact in mind, Cherokee Media Group has developed a two-part white paper series on […] [Read More]

A new National Automobile Dealers Association initiative to help local dealerships navigate business and regulations in the coronavirus environment will provide information about coronavirus developments affecting dealership operations. The initiative, called the Dealership Lifeline Series, provides guidance on how dealers can manage their operations in the wake of those developments. The series is a collection […] [Read More]

Through a post on its website that began with, “It is with heavy hearts,” the Ken Garff Automotive Group announced chairman Robert Garff has passed away due to complications from COVID-19. “After driving back from a visit to Palm Springs, Robert and his wife, Katharine, were tested and confirmed positive for COVID-19, at which time […] [Read More]