Dealers make deals every day, but this one in the buy-here, pay-here segment is more than just stretching a nickel or two on a trade. Byrider announced on Thursday that an investor group of Byrider franchisees has acquired the assets of Byrider Franchising from Altamont Capital Partners. The group then started a new, franchisor-only entity […] [Read More]

Eric Fifield might not officially be a coach, but the chief revenue officer of EFG Companies offered a bit of pep talk for dealerships stemming from research that showed major missteps when handling online consumer vehicle inquiries. Fifield reviewed the project findings and how dealerships can learn from these discoveries during this episode of the […] [Read More]

There might be a lot of callback activity between dealerships and finance companies nowadays since the Dealertrack Credit Availability Index has declined for five months in a row. Cox Automotive reported this week that the index came in at 92.5 in August, which is 0.5% lower than the July reading. The index also is down […] [Read More]

AutoCanada’s quest to return to financial stability has begun. The Edmonton-based dealership group said Wednesday it has sold two of its Stellantis stores in Alberta – Ponoka Chrysler Dodge Jeep Ram in Ponoka and Airdrie Chrysler Dodge Jeep Ram on Airdrie – in a move that “aligns with the company’s commitment to improve profitability and […] [Read More]

AutoLeap, a cloud-based auto repair management software provider, announced an integration with wholesale OEM replacement parts distributor Worldpac speedDIAL, providing access to Worldpac’s catalog through AutoLeap’s shop management software. The integration allows AutoLeap users to search for and order parts from Worldpac and import the data directly to the repair order, enabling users to place […] [Read More]

The potential tug of war between the new-car and used-car departments might be surfacing not only in the showroom, but also the auction lane, too. Black Book described the current situation in its newest installment of Market Insights distributed on Tuesday. “There is a noted trend of an increasing presence of 2024 model-year vehicles in […] [Read More]

An Alabama dealership took a day this week to show it cares. On Tuesday, Howard Bentley Buick GMC in Albertville, Ala., joined with United Way of Marshall County in its Day of Caring for the fifth consecutive year. The communitywide initiative connects volunteers and resources with local agencies and schools needing support. Howard Bentley Buick […] [Read More]

Which way is the dealership M&A market headed? Depends on whom you ask. In its Second Quarter 2024 Blue Sky Report, released Monday, Kerrigan Advisors cited a record number of dealership acquisitions during the first half of this year and said the current rate of nearly double pre-pandemic levels projects to a record year with more than 760 franchise sales. A week earlier, Haig Partners’ Q2 Haig Report pointed out a decline in dealership profits in that has slowed demand and the pace of the buy-sell transactions, as well as a decline of dealership blue-sky values. The report projects some 500 stores to be sold, fewer than in 2023, though still the fourth-most active year in history. Another report issued this week ... [Read More]

Oct. 31 will be more than just Halloween for John and Perla Lewis. The Intellaegis founders will be retiring on the last day of October from their respective roles in company management with John Lewis as CEO and Perla Lewis as chief financial officer. According to a news release, both entrepreneurs will remain as shareholders […] [Read More]

Perhaps it’s the most crucial part of the entire underwriting process: Does the applicant for auto financing have the reliable income to maintain monthly payments? With the prevalence of fraud happening now, income verification is an ongoing challenge for finance companies. Point Predictive recently released a whitepaper aimed at helping finance companies through the income […] [Read More]