The latest act in AutoNation’s longstanding initiative to support the fight against cancer is sure to have people dancing for joy. The nationwide auto retailer surprised former professional ballerina Anna Wassman-Cox, a two-time breast cancer survivor and founder of the nonprofit Onco-Ballet Foundation, with a $25,000 donation to support cancer patients and survivors through the […] [Read More]

Carvana is moving full speed ahead — and still accelerating. The online used-car retailer announced its financial results for the third quarter of 2024 this week, showing “record performance in virtually every key financial measure,” according to its letter to shareholders. Those measures include a net income of $148 million with a net income margin […] [Read More]

A fast-growing company has added an experienced hand to help steer the ship. BlytzPay, an integrated fintech platform designed to modernize the way auto dealers and finance companies invoice, communicate and collect, has named Alison Andreozzi as president and chief financial officer. In a news release, the company said Andreozzi, who brings 25 years of […] [Read More]

In today’s competitive automotive market, American car dealers are constantly seeking ways to improve their used-vehicle inventory acquisition. The disruptions caused by the COVID-19 pandemic have made it challenging to meet consumer demand, with shortages and inflated prices becoming common in traditional sourcing channels like physical auctions. With these obstacles, online auto auctions have emerged […] [Read More]

No dealership group has been more active in acquiring new locations than Group 1. So far in 2024, the Houston-based company has added nine new dealerships in the U.S., with acquisitions in Maryland, California and South Carolina that added an expected $1 billion in annual revenues. And it has exploded in the U.K., doubling its […] [Read More]

Atlantic Canada has become a preferred destination for car thieves. According to data from Insurance Bureau of Canada, auto theft claims have shown an alarming rise in the Atlantic provinces, spiking 12.5% in the first half of 2024 — the nation’s largest increase. And that’s not a new trend, IBC said in a news release. […] [Read More]

The National Automotive Finance Association orchestrated another successful event this week. The focus again was compliance. NAF Association officials said more than 50 auto finance professionals gathered in Irving, Texas, for their Compliance Champions Workshop. They said attendees engaged in a comprehensive agenda designed to foster learning, share insights and enable open discussions. The workshop […] [Read More]

Black Book said the wholesale market is showing “typical levels of depreciation expected for this time of year,” after overall values dropped 0.45% last week. What’s intriguing analysts most, however, is what’s going on with compact cars and small pickups, perhaps the vehicles currently most appealing to your potential retail customers. “The shortage of budget-friendly, […] [Read More]

Ernestina Valdes was given a tremendous gift from a California car dealership. But it wasn’t best gift she received. Salinas Honda in Salinas, Calif., presented Valdes with a 2024 Honda Civic Sport Sedan as the winner of a raffle benefitting the American Cancer Society in conjunction with the organization’s Relay For Life of Salinas Valley. […] [Read More]

UVeye’s AI-powered automated vehicle inspection technology is a good idea. How good? Good enough for TIME magazine to select it as one of The Best Inventions of 2024, its annual list of “200 innovations changing how we live.” UVeye likens its drive-through inspection system to an “MRI for vehicles,” using deep learning and a database […] [Read More]