Asbury Automotive Group struggled against “challenges” in its used-car operations during the third quarter of 2023, company officials said. In its quarterly earnings call this week, Asbury – one of the nation’s largest dealer groups with 138 dealerships, a service contract provider and 32 collision repair centers – announced a 17% year-over-year drop in net income to $169 million and a 5% decrease in revenues, to $3.7 billion. That said, there is help on the way, thanks to ... [Read More]

Montway Auto Transport has reached a formidable milestone. The third-party logistics brokerage and automotive transport company announced Tuesday it has completed 1 million customer deliveries. In a news release, Montway said the achievement reflects its “evolution over the past 16 years and its position as a trailblazer in automotive logistics.” Among all those shipments, there […] [Read More]

A federal grand jury in Tennessee has indicted a former general manager of Dealers Auto Auction Group’s Murfreesboro location and two others with wire fraud and money laundering in a scheme to defraud the auto auction. The office of U.S. Attorney Henry Leventis for the Middle District of Tennessee announced the charges Monday. Stephanie Baker, […] [Read More]

Kevin Cullum grew up in a suburb of Kansas City, Mo. An internship during his senior year of college at the University of Central Missouri began a career in auto finance that took Cullum to a multitude of places, beginning in Chicago, then Atlanta. After a time in Florida, Cullum moved to Philadelphia and then […] [Read More]

This week, Onbe launched a digital-first consumer refund program with Westlake Financial. According to a news release, Westlake has replaced its check-based refund program with Onbe’s payouts gateway, providing instant payments to recipients while eliminating internal program and labor costs. Onbe’s Summer 2023 Auto Survey showed 47% of automotive customers name wait time as the […] [Read More]

A Wisconsin auto dealer group is now sustaining the consequences of what authorities deemed to be discriminatory F&I activities. The Federal Trade Commission and the Wisconsin attorney general said on Tuesday they are taking action against Rhinelander Auto Center, its current and former owners, and general manager Daniel Towne for deceiving consumers “by tacking hundreds […] [Read More]

On Tuesday, 700Credit announced an integration alliance with AutoRaptor to help dealers get their buying customers through the financing process. With this enhanced alliance, AutoRaptor has integrated the 700Credit driver’s license authentication platform, QuickScan, into its CRM to provide a quick and seamless way to validate a customer’s driver’s license and identity at the top […] [Read More]

Like the Earp brothers in “Tombstone,” the used-car industry is reuniting in Arizona this year for Used Car Week. For the first time since 2018, the event will be held at the Westin Kierland in Scottsdale. While the sunshine, balmy climate and cool desert nights remain, much has changed in the five years since Used […] [Read More]

Like the number of teams still alive in the MLB playoffs, used-car prices are dropping in October. Wholesale vehicle values climbed sequentially for the second straight month and were still astronomically high in September compared to pre-COVID levels, but signs indicate that October is seeing the usual autumn slowdown. That’s according to the September/October Kontos […] [Read More]

In today’s rapidly evolving automotive landscape, the work truck industry has emerged as a crucial segment that holds immense potential for both stability and growth. Despite its significance to local, national and global economies, the commercial vehicle opportunity has often been relegated to the periphery of the automotive dealership. However, with the current erratic economy […] [Read More]