With Avis Budget Group’s chairman of the board saying that Larry De Shon has played an important role in “positioning Avis Budget for the future of mobility, while navigating through unprecedented industry challenges,” Avis Budget Group said on Tuesday that De Shon was leaving his position as president and chief executive officer of the company. […] [Read More]

It’s been a busy May for Pennsylvania attorney general Josh Shapiro as his office made two moves involving independent dealerships in the Keystone State. Earlier this month, Shapiro reached a settlement approaching $51,000 with a dealership in Mechanicsburg, Pa., involving seven allegations. Then last week, the AG’s office filed a lawsuit against an operator with […] [Read More]

KAR Auction Services joined the Mobility Open Blockchain Initiative (MOBI) last July as the first remarketer to become associated with member-driven consortium of global automotive industry leaders, the goal of which is to explore blockchain tech use in the “digital mobility ecosystem.” On Tuesday, KAR expanded its involvement with MOBI via participation in the electric […] [Read More]

The narrative sometimes pushed by critics of subprime auto finance is that consumers who encounter financial problems in part because of their substantial vehicle payment turn to personal loans with interest rates sometimes higher than the ones connected to the risk associated with their retail installment contract. Well, information from the Federal Reserve Board’s latest […] [Read More]

The Ken Garff Automotive Group has extended an agreement for auto dealer software company Reynolds and Reynolds to provide the dealership management solution for Ken Garff new-car franchised dealerships. The extension is part of a five-year agreement. The companies said in a news release that through Reynolds, Ken Garff will look to improve the customer […] [Read More]

In this episode, Mike Cavanaugh of MAXDigital chats with Joe about the demands of the modern consumer in the car-buying process and how dealers can adapt. Plus, what "collaboration" between a shopper and dealer looks like during car shopping. Mike also explains some of the missing profit opportunities for dealers in the transaction. The full […] [Read More]

Credit Acceptance Corp. created a new executive position this week and appointed an individual who has been with the company for 17 years to the position. According to a filing with the Securities and Exchange Commission posted on Thursday, Credit Acceptance named Jonathan Lum as chief operating officer. Lum has been with the company since […] [Read More]

Along with touching on the latest certified pre-owned sales data he could share, KAR Auction Services chief economist Tom Kontos used a gardening analogy to describe how the spring wholesale market reached “full bloom in April.” According to ADESA Analytical Services’ monthly analysis of wholesale used-vehicle prices by vehicle model class, analysts reported that wholesale used […] [Read More]

If your dealership isn’t looking outside the box for new ways to acquire the right used vehicles, you’re missing out on sales. Consumer interest in used cars is on the rise with new-car sales slowing down. Kelley Blue Book data shows the average price paid for a new vehicle is approaching $37,000, putting that option […] [Read More]

E-commerce company RumbleOn experienced strong growth in 2018, and the company’s founder, chairman and chief executive officer Marshall Chesrown said in a news release that Peter Levy was “instrumental in the execution of our vision and continual success of this company.” RumbleOn has rewarded Levy for that work. The company announced the promotion of Levy […] [Read More]