Along with highlighting how many consumers are committing to a monthly payment of more than $1,000 to take delivery of a new vehicle, the newest auto finance data from Edmunds showed dealerships and finance companies coaxed a bit more of a down payment in connection with used-car transactions booked during the fourth quarter. Edmunds reported […] [Read More]

Larry Van Tuyl is up to his old tricks: acquiring dealerships. The CEO of VT Companies has purchased Groove Toyota in Englewood, Colo., from Summit Automotive Partners, according to Pinnacle Mergers & Acquisitions, which brokered the deal. The dealership, which will retain the Groove name, is Van Tuyl’s first in Colorado. His current operation, Visionary […] [Read More]

FlexPath Capital announced an executive promotion on the last day of 2024. Now president of the provider of floorplan financing solutions for independent dealerships is Doug Marohn, who joined the company in January 2023 as chief operating officer. FlexPath Capital said Marohn will now take on broader responsibilities, leading the company’s strategic direction, overseeing daily […] [Read More]

Welcome to your next stopping point, now it’s time to reflect. How did the past year finish? Like you planned it? Better? Worse? Will 2024 be one to remember – or one you would rather forget? Either way, it’s time to evaluate what went right and what could have gone better, but most important: Why? […] [Read More]

The amount of competition among automotive dealerships makes it one of the most cutthroat industries in the world. Dealerships aren’t just competing with each other; they’re up against local repair shops, body shops, parts stores and more. With departments for sales, service, parts, detailing, and even bodywork, every part of a dealership faces its own […] [Read More]

The National Automobile Dealers Association, which is set to host its annual NADA Show convention this month in New Orleans, released a statement Wednesday following the terrorist attack on Bourbon Street in the city’s French Quarter during the wee hours of New Year’s Day. The trade association is working with city officials and law enforcement […] [Read More]

The Federal Trade Commission didn’t sit idle this holiday season, especially when policing car dealerships. The regulator made separate announcements before and after Christmas involving two dealer groups that operate more than a dozen stores. The first action was connected with Leader Automotive Group and its parent company, AutoCanada. Officials ordered the retailer to pay […] [Read More]

The last week of 2024 brought an easing to the continued downward trend of the Canadian used-vehicle wholesale market. Values fell 0.21% for the week ending Dec. 28, according to Canadian Black Book’s weekly Market Insights report, a milder drop than the 0.33% decline the previous week and far smaller than the 0.64% plunge of […] [Read More]

One thing that never changes in the used-car business is change. Which means dealers must always be ready to adapt. That, of course, includes the certified pre-owned sector. The supply of used vehicles suited for certification is shrinking. Costs have risen for both new and used cars, making affordability a critical issue for consumers. And the rise of used electric vehicles begs the question of how they can find a way into the CPO mix. During Used Car Week 2024 in Scottsdale, Ariz., four industry experts assembled to discuss those issues, their effect on the CPO sector and ways dealers and other stakeholders can ... [Read More]

It’s been almost 30 years since Lexus launched the industry’s first certified pre-owned program, during which CPO has grown into a strong and important sector of the used-vehicle market. But after all those years, car dealers are still learning and finding better ways to sell customers on the CPO experience. In a panel session during Used Car Week 2024 in Scottsdale, Ariz., titled “Best Practices from Best CPO Dealers,” moderator B. Miller of Cars Commerce asked four dealers to discuss what they’re doing at the dealership to give car shoppers confidence about buying a CPO vehicle ... [Read More]