Penske Automotive Group is buying another used-car retailer in the U.K., a move the group’s chairman says “almost doubles” its standalone pre-owned store business in the country.   The dealer group said Tuesday it has signed a deal to purchase The Car People, a used-car retailer with four large-scale locations that sell a combined total […] [Read More]

Costco Auto Program announced Tuesday that now halfway through its Holiday Sales Event with General Motors, the program has already had 55 percent more Costco members register to take advantage of its exclusive offerings compared to last year. The Holiday Sales Event, which launched on Oct. 3, runs through Jan. 2. “We’re happy to see that the […] [Read More]

Wade Walker, founder of Corpus Christi Auto Auction and San Antonio Auto Auction, passed away Saturday. He was 55. “Wade was a devoted loving father, husband, grandfather, and friend to all. He enjoyed water skiing, snow skiing, cycling, traveling and spending time with family and friends,” reads an obituary provided by his family. “Wade was […] [Read More]

Holiday shoppers are in the throes of finding bargains for gift giving. Dealers are in the same predicament in the lanes while looking for inventory, according to the latest observations from Black Book. Along with what auction watchers described, this week’s Black Book Market Insights report showed both car and truck segments depreciating more than […] [Read More]

Dealers are still feeling relatively optimistic about their user-car operations. And for independents, in particular, they’re starting to see some relief from supply shortages — albeit in the form of pricier units. As part of the fourth quarter Cox Automotive Dealer Sentiment Index, franchised and independent dealers were asked for their thoughts on the current used-car […] [Read More]

CarStory announced Tuesday that it has introduced CarStory MicroDB, its new a patent-pending search and compression technology designed to increase automotive searches on desktops and mobile devices. CarStory MicroDB improves automotive searches by over 40 times, according to CarStory. “This is a really exciting evolution of search technology, empowering browsers with the capabilities of the datacenter,” parent […] [Read More]

The National Independent Automobile Dealers Association announced Tuesday that CarGurus has come aboard as its newest Bronze-level National Corporate Partner. CarGurus said the new partnership will allow the company to strengthen its collaboration with the independent dealer community. “We know our members will benefit from the valuable shopper connections CarGurus' platform delivers,” NIADA senior vice […] [Read More]

Ally Financial made a move on Tuesday to ensure a smooth transition involving one of the highest positions at the company. Ally announced that Jenn LaClair will be joining the company as chief financial officer designate, effective Monday, with the intent that she be appointed to succeed the company’s CFO, Chris Halmy. Ally indicated in […] [Read More]

On Tuesday, Fiserv finalized a partnership with TransUnion to improve price, decision accuracy and expand the customer base within the automotive finance space. Officials highlighted integrating the automotive loan origination system from Fiserv with CreditVision Link from TransUnion will help increase precision of scoring and risk modeling. By including additional data points to evaluate credit […] [Read More]

Cox Automotive filed a lawsuit Monday against CDK Global for what it says are “ongoing antitrust and unlawful competition violations,” in addition to other claims. The suit was filed in the U.S. District Court for the Western District of Wisconsin. The suit claims CDK and The Reynolds and Reynolds Company — which Cox Automotive said […] [Read More]