A metric that finance companies often watch is the number of vehicles in their portfolio that become a total loss when involved in a crash. Levine and Wiss — a personal injury attorney law firm in New York — recently researched 50 vehicles with the highest reported accidents to identify which ones have the highest […] [Read More]

Vaughan Automotive added to its presence in the Houston area with the acquisition of Tejas Toyota in Humble, Texas, the dealership group said. The family-operated business, which owns Toyota stores in Houston and Boerne, Texas, has rebranded the store as Space City Toyota. In a news release, the company said the acquisition was driven by […] [Read More]

I have a suspicion that the month of August will look pretty good for dealers as far as used vehicle sales volume, but their month-end gross profit tally will likely be less-than-satisfying if not distressing. My suspicion flows from dealer conversations in the past two weeks where the No. 1 topic of conversation was concern […] [Read More]

With dealership profits declining, the demand for acquiring those businesses has cooled, according to the latest research from Haig Partners. The company’s Q2 2024 Haig Report found dealership profits declined 32% in the first half of 2024 compared to the same period last year and the average pre-tax income for publicly owned dealerships of $1 […] [Read More]

Craig Amelung believes that the National Auto Auction Association has a proud past, is living and operating to the fullest in its present and all while keeping a keen eye on its future. That’s why among the NAAA incoming president’s goals over the next year is to identify and nurture a next generation of auction leaders who want to get involved with the association and to draw on the knowledge and experience of those auction veterans who make it successful every day. Amelung is scheduled to take over the reins of the association at its NAAA World Remarketing Convention, in Orlando, Fla., Sept. 30 – Oct.3. Also at the convention, current NAAA president Eric Autenrieth, CEO of Carolina Auto Auction in Williamston, S.C., will become the association’s chairman. “For many years the association has relied on ... [Read More]

CarGurus announced it has named Mike O’Hanlon as its new chief revenue officer, citing his “deep experience driving customer growth and retention strategies for online marketplace and software as a service businesses.” In a news release, CarGurus said O’Hanlon will lead its sales and service teams to support growth objectives and priorities toward the goal […] [Read More]

Black Book has promoted data scientist Yushan Liu to director of data science in its data and analytics department. The company said she’ll be responsible for leading and expanding the data science team, as well as setting the vision, strategy and road map for data science initiatives. Liu, who holds a Ph.D. in Chemometrics and […] [Read More]

Summer unofficially ended over the weekend with the passing of Labor Day. For weeks during the heat of summer, Ignite Consulting Partners said the firm’s experts have heard plenty of reasons why dealerships aren’t keeping resources in place to maintain compliance. “It’s been a slow summer,” one dealer told Ignite, while another said, “The interest […] [Read More]

Six more dealerships reached an agreement with the Rhode Island attorney general to settle allegations of deceptive sales practices in the finance office. The settlement announced in August has the dealerships paying more than $1 million in refunds and penalties. It surfaced about a year after Rhode Island AG Peter Neronha reached a similar deal […] [Read More]

Next up on our “Consignor Conversations” series of the Auto Remarketing Podcast is an interview with John Urness, head of vehicle remarketing and customer loyalty at Chase Auto. Urness sat down with Cherokee Media Group senior editor Joe Overby at the Automotive Remarketers Alliance Summer Roundtable in Frisco, Texas, to talk about the value in […] [Read More]