Georgica Auto Holdings has acquired Kolb Subaru in Orangeburg, N.Y., just north of New York City, from Group 1 Automotive, according to Franchise Equity Partners, an investor in the company. Georgica Auto Holdings, led by CEO Jon Sobel, has been expanding steadily through acquisitions and now operates 27 dealerships in New York, New Jersey and […] [Read More]

AutoNation’s recent earnings call included good news ... and some challenges. AutoNation’s used unit sales were flat year over year, and sequentially down 2% from the third quarter, while supply availability for used vehicles has continued to be a challenge. But looking to the near future, AutoNation expects the normal seasonal swing to used vehicles for the spring selling season to occur, AutoNation chief financial officer Tom Szlosek said during the company’s fourth quarter and full-year 2024 earnings call on Feb. 11. And the company expects that used-vehicle unit sales ... [Read More]

None of President Trump’s proposed tariffs have taken effect yet. But the threat of those tariffs looms large over the auto industry. The announced 25% tariffs on all imports from Canada and Mexico, currently on hold, could have a significant impact on the industry, given the large amount of vehicles and components that cross the […] [Read More]

Upstream Security, a provider of a cloud-based cybersecurity and data management platform purpose-built for the automotive, smart mobility, and IoT ecosystem, recently released the 2025 Automotive & Smart Mobility Cybersecurity Report. Now in its seventh year, the report highlights that despite the increased regulatory attention, the number, scale and severity of cyber-attacks continues to grow, […] [Read More]

Wolters Kluwer is hosting a free webinar at noon (ET) on Wednesday titled, “Strategies to Pledge Electronic Collateral to the Federal Reserve Bank.” Wolters Kluwer explained that pledging an auto loan is an important option for auto lenders because it provides them with liquidity options and reduces financial risk. Lenders are investing and expanding their […] [Read More]

Last week, First Business Bank welcomed Niamh Kristufek to its parent company, First Business Financial Services, as president of specialty finance. With extensive financial services experience, First Business Bank said Kristufek provides strategic guidance and expertise to its accounts receivable financing, equipment financing, and floorplan financing, and SBA Lending teams. Kristufek’s banking career includes leadership […] [Read More]

When Jon MacPhee and his wife booked their flight to New Orleans for the 2025 NADA Show, they were looking forward to what they thought would be a warm getaway from the Canadian winter. The reality, of course, was just a bit different. A record-breaking blizzard covered New Orleans with eight inches of snow on Jan. 21 — two days before the auto retail industry’s largest annual event was to begin — paralyzing the unprepared city and shutting down its airport. For Canadian dealers and vendors determined to attend, that was the beginning of an odyssey filled with delays, cancellations, unexpected detours, last-minute changes and in many cases multiple modes of transportation. The trip to the Big Easy turned out to be anything but ... [Read More]

Your customers who have soft credit profiles could benefit from a new program from TransUnion enabled by its collaboration with Credit Sesame. Announced last week, this new offer is expected to enable the credit bureau to more fully serve the tens of millions of consumers who visit TransUnion digital properties annually with a highly engaging […] [Read More]

Algebrik AI and Carleton now are working together to boost compliance efforts by their clients. The companies announced a strategic partnership last week integrates Carleton’s payment calculation APIs into Algebrik’s loan origination platform in an effort to set a new standard for accuracy, compliance, and operational efficiency in consumer lending. Through this partnership, Algebrik AI […] [Read More]

Acquiring enough used inventory is the usual problem for dealerships. In the fourth quarter of 2024, Sonic Automotive faced the opposite problem — it had too much used inventory. Poor results in the EchoPark Automotive used-car segment pulled down Sonic’s overall performance in the fourth quarter, Sonic executives said on the earnings call. EchoPark revenue in the fourth quarter ... [Read More]