Chase Auto opened 2025 with changes at the top of its leadership team. The finance company said Leslie Wims-Morris now is CEO of Chase Auto, reporting to Marianne Lake, who is CEO of consumer and community banking (CCB). Wims-Morris replaced Peter Muriungi, who now is CEO of Chase Connected Commerce, reporting to Allison Beer, CEO […] [Read More]

President-elect Donald Trump is set to return to the White House, and a Republican-controlled Congress is about to be in place, too. Those developments and what lawmakers could do going forward, plus potential future decisions by the Federal Reserve, are combining to create a somewhat stable forecast for auto financing and retailing, according to a […] [Read More]

The dealership mergers and acquisitions market was brisk in 2024, driven by buyers flush with cash from historically high dealership profits the last few years. But dealership profitability, though still high, is waning. That is one factor that will impact the 2025 buy sell market, which professionals expect to moderate though remain healthy. “The buy sell market in 2025 will be active but quite different,” Alan Haig, president of Haig Partners, told Auto Remarketing. [Read More]

The number of vehicles recalled in 2024 dropped significantly — but unrepaired recalls still represent a major issue on American roads, according to the latest analysis of National Highway Traffic Safety Administration data from BizzyCar. The recall management platform’s 2024 Recall Report found 27.7 million vehicles were affected by recalls issued last year, a decrease […] [Read More]

Perhaps your dealership didn’t generate the retail flurry during the holiday season that store management demanded, with the intention of meeting monthly, quarterly and annual sales goals. To help get your rooftop on the right online track for 2025 and beyond, DealerFire explored several strategies to help dealerships pinpoint the best keywords for their online […] [Read More]

Anthony Pordon knows that companies can’t stand still when it comes to technological innovation. Pordon is executive vice president of investor relations and corporate development for Penske Automotive Group, and he said the company’s used-vehicle business, CarShop, first started testing artificial intelligence technology in its retail service departments. “By the time you think you’ve got [AI] understood, it’s completely changed,” Pordon said. But AI has helped CarShop customers schedule appointments, which has resulted in ... [Read More]

Like the sentiments conveyed by the National Automobile Dealers Association, the American Financial Services Association offered a statement late on Thursday, offering sympathy to people impacted by the horrific incident earlier this week in New Orleans, which is also the site of the upcoming AFSA Vehicle Finance Conference & Expo. “AFSA offers its deepest condolences […] [Read More]

Along with highlighting how many consumers are committing to a monthly payment of more than $1,000 to take delivery of a new vehicle, the newest auto finance data from Edmunds showed dealerships and finance companies coaxed a bit more of a down payment in connection with used-car transactions booked during the fourth quarter. Edmunds reported […] [Read More]

Larry Van Tuyl is up to his old tricks: acquiring dealerships. The CEO of VT Companies has purchased Groove Toyota in Englewood, Colo., from Summit Automotive Partners, according to Pinnacle Mergers & Acquisitions, which brokered the deal. The dealership, which will retain the Groove name, is Van Tuyl’s first in Colorado. His current operation, Visionary […] [Read More]

FlexPath Capital announced an executive promotion on the last day of 2024. Now president of the provider of floorplan financing solutions for independent dealerships is Doug Marohn, who joined the company in January 2023 as chief operating officer. FlexPath Capital said Marohn will now take on broader responsibilities, leading the company’s strategic direction, overseeing daily […] [Read More]