Sonic Automotive announced this week that its vice chairman and chief financial officer notified the company that he intends to retire, effective at a yet-to-be-determined date. David Cosper said his retirement will come sometime during the first quarter of next year. The company said that it is initiating a formal search for a successor CFO.  […] [Read More]

Luxury models piqued the interest of used-vehicle shoppers at Kbb.com in August as Kelley Blue Book determined that half of the top 10 units generating the greatest spike in activity growth came from that segment. While the 2009 Chevrolet Suburban 2500 paced activity growth with a whopping 180.3-percent month-over-month increase, three of the next four […] [Read More]

The calendar may say that summer is behind us, but at Nissan, it just keeps rolling along. Nissan has announced the launch of its Keep Summer Rolling vehicle giveaway and service sweepstakes, to promote proper vehicle maintenance. The contest runs through Sept. 30, with online entries to be accepted through Oct. 31. Nissan said Keep […] [Read More]

On Monday, more than 2,600 dealers from the U.S. and around the world convened in Las Vegas to attend Chyrsler Group's 2012 Dealer Announcement Show. The company noted that more than 80 percent of Chrysler's NAFTA region dealers were joined by many of their counterparts in Europe, Asia-Pacific and Latin America as well as leading […] [Read More]

As fuel costs continued to rise to a level not seen in more than four months, Black Book noticed the combination of the holiday weekend sales performance and lenders opening the purse strings resulted in action heating up in the auction lanes this past week. In his latest wholesale market analysis, Black Book’s Ricky Beggs […] [Read More]

Workshops are a key part of the National Remarketing Conference every year, offering opportunities for attendees to interact in smaller group sessions, and 2012 will be no exception. The event will be bookended by workshop sessions: two groups of four sessions held on the opening day and repeated on the closing day. The first workshop […] [Read More]

Revealed recently, GE Capital Fleet Services has a new leader. Named to the position of president and chief executive officer is Kristi Webb. Webb replaces Clarence Nunn, who was recently appointed chief commercial officer for GE Capital, Americas, the company reported. Webb was previously general manager of GE Capital’s Dealer Finance business that provides wholesale […] [Read More]

About three weeks after a report surfaced in late August saying that KAR Auction Services reportedly had exploratory talks about a possible leveraged buyout, Reuters had more to say on the matter Wednesday. [Read More]

In the latest step of the Hertz-Dollar Thrifty deal announced last month, Hertz Global Holdings said Monday that it has initiated a cash tender offer to buy all outstanding shares of Dollar Thrifty Automotive Group’s common stock. The two companies entered a definitive merger agreement on Aug. 26, as reported previously in Auto Remarketing.   [Read More]

Dealer Services Corp., of Indiana promoted its regional director to a new position on Monday. As the company’s new vice president of operations, Alan Lang will be responsible for leading the company’s market portfolio strategies and field operational structure.  “DSC is committed to providing unparalleled support to our field representatives and the markets they serve,” […] [Read More]