Tom Folliard plans to retire from his role as CarMax chief executive officer prior to the end of 2016, with Bill Nash expected to take on the reins at that point, the company announced Monday. Here’s how the changeover will work: As the result of a multi-year management succession plan, Nash — previously executive vice […] [Read More]

Sixteen percent of AutoNation’s used-vehicle inventory was unable to be sold at the end of last year due to its own internal policy to not sell any vehicles with open safety recalls. Add that to the less than 2 percent of their new-vehicle inventory affected by the same policy, this represents roughly 6 percent of […] [Read More]

Women-Drivers.com recently named its top dealers for 2015, honoring both franchised and independent operations. Based upon the number of reviews received and the aggregate scores of those reviews, site officials highlighted these dealerships have consistently demonstrated exceptional trust, respectful and fair experiences toward women when shopping, purchasing and in the service drive. The winners include: […] [Read More]

Depending on whose prediction you look at, the currently projected estimation for new-vehicle sales in January is expected to decline from as little as half a percent to as much as 3 percent compared to January 2015. The used-car market, however, is expected to clear 3.05 million vehicles by Monday, which would result in roughly […] [Read More]

Lithia Motors announced on Friday it has added a new Subaru store to its store count in California. The dealer group has acquired Riverside Subaru of Riverside, Calif., which will be renamed DCH Subaru of Riverside. This is the first DCH acquisition for the company, after Lithia acquired DCH Auto in 2014. The company shared this […] [Read More]

North Texas Ford dealers and the Ford Motor Company Fund late last week handed out more than $400,000 in Ford Driving Dreams scholarships for seniors in high schools across north Texas. These funds will go to students interested in pursuing education in science, technology, engineering and math. The scholarships are $2,000 a piece and will […] [Read More]

The NCM Institute recently completed its eighth General Management Executive Program (GMEP) curriculum and awarded 11 managers and future executives with certificates of completion for its dealer development program. Orchestrated by NCM Associates, officials explained GMEP's comprehensive curriculum emphasizes financial and operational best practices, along with a solid leadership foundation that will strengthen and prepare […] [Read More]

Mid-South Auction is back in family ownership. XLerate Group announced on Friday that the Rea family has repurchased XLerate’s Mid-South Auction in Pearl, Miss. Mid-South, originally founded in 1972, was formerly owned by the Rea family and operated under the name of Rea Brothers Mid-South Auction (RBMSA) until being acquired by American Auto Auction Group […] [Read More]

The attorney general in the Empire State found reason to bring more allegations against franchised dealership accused of illegal selling products and services through the F&I department. New York attorney general Eric Schneiderman this week announced a lawsuit against several Queens dealerships, including Koeppel Nissan, Koeppel Subaru, Koeppel Mazda, Koeppel Auto Group, and Koeppel Volkswagen. […] [Read More]

Consumer Portfolio Services finalized the closing of its first term securitization in 2016 this week.  The transaction is CPS’ 19th senior subordinate securitization since the beginning of 2011 and the second consecutive securitization to receive a triple A rating on the senior class of notes from two rating agencies.  In the transaction, officials from the […] [Read More]