The Federal Trade Commission issued a consumer alert on Tuesday related to fraudulent online dealership listings, which Point Predictive chief fraud strategist Frank McKenna described in vivid detail more than a year ago. The FTC described a similar strategy that McKenna mentioned, with officials saying in their alert, “Scammers set up bogus car dealership websites […] [Read More]

Why does one dealership command a significantly higher blue sky multiple than another, even when both operate under the same franchise? The answer is multi-dimensional and extends far beyond profitability alone. Blue sky represents the goodwill component of a dealership’s value, the premium a buyer is willing to pay above the value of its tangible […] [Read More]

Tammy and John Swofford are auto auction industry superstars. Both have had long careers in the industry which included several stints working for the same company and now working for competitors. They’ve handled both situations with their characteristic humor. Currently, Tammy is senior director, national sales and marketing for Auto Auction Holdings. John is vice […] [Read More]

ACV Auctions announced a strategic integration with dealer AI engagement platform DriveCentric on Tuesday that it says will provide dealers with a way to acquire more used cars from their service lanes and lead to new fixed operations revenue opportunities. The integration will combine ACV’s ClearCar pricing engine and VIPER platform (which is a vehicle […] [Read More]

Lithia & Driveway said Tuesday it is investing $500,000 in more than 200 nonprofit youth and community organizations through its Lithia4Kids Community Giving Grants. The program partners with organizations focused on educating and strengthening communities in which Lithia operates. The latest grants will support initiatives like schools, children’s hospitals and youth enrichment. Nearly 375 grant […] [Read More]

Is everything working as well as it can? How do you know? Have you ever gone to a restaurant and had a server encourage you to order something that wasn’t on the menu? Probably not. It’s similar when you contact an average media or marketing company. They have a menu of products and services, and […] [Read More]

OpenRoad Auto said Friday it is building a 16-acre auto mall in Surrey, B.C., with multiple dealerships on seven lots and roughly 166,000 square feet of commercial space and more than 1,000 vehicle parking stalls. The Surrey Auto Loop, which is being developed on 76 Avenue in Surrey’s Newtown neighborhood, has already confirmed Surrey Honda […] [Read More]

Cox Automotive chief economist Jeremy Robb connected the car business to the first major public speech by new Federal Reserve chairman Kevin Warsh last week. During the annual economic policy symposium sponsored by the Federal Reserve Bank of Kansas City in Jackson Hole, Wyo., Warsh elaborated about inflation, which is impacting dealerships and finance companies. […] [Read More]

Every dealership sources inventory somewhere, but the channels do not behave the same way. New-vehicle allocation is set by the manufacturer, not the store. Auction supply is broad, but the margin available there has thinned considerably. Trade-ins remain the most familiar channel, yet they represent a smaller share of available inventory today, and competition for […] [Read More]

We start this dealer group news roundup in California, where the LAPIS group has launched a new Porsche store in the Tri-Valley region. LAPIS CEO and dealer principal Todd Blue acquired the Porsche Livermore store in March. “Porsche is a brand that demands a different level of stewardship,” Blue said in a news release. “We […] [Read More]