A vehicle service contract provider struck out with the Federal Trade Commission this week. According to a news release, NRRM, which does business as CarShield, along with American Auto Shield (AAS), will pay $10 million to the FTC to settle charges that advertisements and telemarketing for VSCs are deceptive and misleading. The FTC said the […] [Read More]

In his final Kontos Kommentary, ADESA chief economist Tom Kontos — who is retiring from his post on Aug. 16 — does what he has consistently done for more than two decades with these reports. He shares precise segment-by-segment statistics on wholesale vehicle values from the past month. provides context to those price movements and […] [Read More]

Group 1 Automotive’s presence in the United Kingdom just got a whole lot larger. The auto retail giant closed on its acquisition of Inchcape Retail’s automotive operations, which include 54 dealership locations in England and Wales. The $439 million cash deal, which was agreed to in April, raises Group 1’s U.K. holdings to 113 dealerships. […] [Read More]

Adam Chamberlain has taken another step up the ladder at Lithia & Driveway, which announced his promotion to executive vice president and chief operating officer as part of the automotive retail and services company’s leadership realignment. Chamberlain joined LAD in 2022 as East regional president and added the role of chief customer officer in January. […] [Read More]

The Federal Reserve kept interest rates unchanged on Wednesday, which economic experts projected since policymakers haven’t made an adjustment following eight consecutive opportunities. But experts are also emphasizing that new data is prompting the Fed to lower the rate from its current level of 5.25%-5.5%. Fed chair Jerome Powell acknowledged during a news conference on […] [Read More]

The next episode of the Auto Remarketing Podcast originating from this year’s Canada’s Used Car Week in Toronto highlights shifting market trends dealers are now facing. Prepared with the newest information and context is Kevin Roberts, who is director of industry insights at CarGurus. Listen to the presentation in the window below. [Read More]

OpenRoad Group, taking another step in its ongoing commitment to environmental, social and governance initiatives, has become a Green Economy Leader by joining Green Economy Canada. The dealership group said its membership highlights its dedication to reducing its carbon footprint and incorporating sustainability practices throughout its operations nationwide. OpenRoad operates 39 retail locations and six […] [Read More]

Virtually every auto dealer knows data is a powerful tool for their business. They’re just not quite sure how to use it. That’s perhaps the biggest takeaway from Cox Automotive’s 2024 Power of Data study, released this week. The surveys of 393 franchise dealers and 191 dealership managers found a large majority of dealers — […] [Read More]

Next up on our “M&A + Auto Auctions” series of the Auto Remarketing Podcast is a conversation with TPC Management Co. president Pierre Pons and longtime auto auction executive John Poteet, who recently joined TPC as an industry associate and management advisor. In this episode, we look at the auto auction M&A landscape from the […] [Read More]

Holman has brought a new brand to South Florida. The dealer group/automotive services company announced the opening of Holman VinFast Fort Lauderdale, the Vietnamese electric vehicle manufacturer’s first dealership in the area and among its first nationally. Holman executive vice president of retail automotive Frank Carbone said the decision to add a VinFast dealership is […] [Read More]