Carvana is adding physical capacity to increase its current volume by approximately three times, CEO Ernie Garcia said on the recent second quarter earnings call. Carvana has cited inventory constraints as a barrier to faster growth. Combined with the ADESA U.S. acquisition, Carvana has the real estate to handle vehicle reconditioning at approximately eight times the current run rate, he said. “We also have very clear plans and high confidence in ... [Read More]

OPENLANE’s latest tool aims to let dealers work less on selling cars at auction. The digital wholesale used-vehicle marketplace has launched Automated Absolute Sale, a new tool that lets sellers set a price threshold at the time of listing, with the vehicle entering Absolute Sale mode when the price is reached. OPENLANE said the feature […] [Read More]

The next episode of the Auto Remarketing Podcast originating from this year’s Canada’s Used Car Week in Toronto featuring a panel discussion with this year’s Women & Automotive Profiles in Leadership honorees Moderated by Kathy Gilbert of CDK Global, this year’s honorees shared highlights of their professional careers and wisdom for other executives. Listen to […] [Read More]

The next episode of the Auto Remarketing Podcast originating from this year’s Canada’s Used Car Week in Toronto recapped a presentation about how women can “pay it forward” throughout all stages of their careers. Kathy Gilbert of CDK Global gave recommendations based on the current landscape for women in the automotive industry and how can […] [Read More]

America’s Group continues its “coast to coast” M&A growth. The auction company said on Monday it has acquired Motley’s Richmond Auto Auction in Virginia, which is its third purchase announced in the last two months. In June, America’s announced the acquisition of San Antonio Auto Auction, followed by July’s purchase of Corpus Christi Auto Auction. […] [Read More]

Alin Navidi has acquired Covina Volkswagen in Covina, Calif., from SRO Group and Greg Bozzani, according to Performance Brokerage Services, which advised on the transaction. Navidi started his automotive career as a used-car dealer in Portland, Ore., before becoming a partner in Coachella Valley Volkswagen in Palm Springs, Calif. When that business was sold, he […] [Read More]

Fullpath announced it has reached “a significant milestone.” The automotive customer data platform and marketing automation engine has been approved as an official vendor for Jaguar Land Rover’s Digital Certified Program for dealerships. In a news release from one of this year’s Emerging 8 honorees, Fullpath said its integration with JLR’s Digital Certified Program “aims […] [Read More]

AutoComplete has completed a financing round to further its expansion and development of an artificial intelligence-based technology platform for auto insurance, according to The Presidio Group, which advised the company in the deal. Presidio said the SAFE-structured capital raise, led by Bain Ventures and FM Capital, included seven new strategic dealership group investors — AutoNation, […] [Read More]

The next episode of the Auto Remarketing Podcast originating from this year’s Canada’s Used Car Week in Toronto focused on the human side of automotive. A panel discussion titled, “The Journey to Equity Continues,” featured Beth Byskal and Marcia Rossi of TD Auto Finance, along with Joyce Tshiamala of Hyundai Canada and Edith Pencil of […] [Read More]

Before the cyberattack that hit dealership software provider CDK Global, Group 1 Automotive’s used vehicle and aftersales businesses were performing well in the second quarter, said Group 1 president and CEO Daryl Kenningham. But the CDK outage “significantly affected” Group 1’s U.S operations from June 19-26, Kenningham said during Group 1’s second quarter 2024 earnings call on July 24. “We do believe that we could have [Read More]