Group 1 Automotive has added another location to its collection — this one in the resort area of Hilton Head, S.C. The dealership group announced the acquisition of Modern Classic Motors, which includes Mercedes-Benz, Sprinter and Honda franchises. The acquisition, which gives Group 1 17 Mercedes-Benz franchises and 13 with Honda, is expected to generate […] [Read More]

TD Bank’s TD Auto Finance arm recently named Christopher Nabeta the director of OEM sales and strategy for Canada. Nabeta has been in the position since February, after spending the better part of 2023 focusing on ... [Read More]

One of the steadiest economic trends currently out there is the rise in bankruptcy filings. Epiq Bankruptcy reported total filings came in at 39,014 in February, representing a 22% year-over-year rise. Experts said February also marked 19 consecutive months that total, individual and commercial bankruptcy filings have registered monthly year-over-year increases. “Once again individual and […] [Read More]

The retail used-car market, including the certified pre-owned segment, showed some real strength last month, improving from both year-ago and January figures. This after what appeared to be sluggish start to 2024. Citing data from its vAuto business unit, Cox Automotive estimated that used-vehicle retail sales in February climbed 18% month-over-month and 5% year-over-year. The […] [Read More]

The International Automotive Remarketers Alliance announced the organization is undergoing a brand update. The new branding will be unveiled during the welcome reception of the annual CAR Conference, coming up March 26-28 in Phoenix. The alliance said the rollout will continue throughout the summer and is scheduled to be completed by IARA’s Summer Roundtable, set […] [Read More]

Toyota Motor Corp. once again rules the roost when it comes to resale value, sweeping top honors in both brand categories of Kelley Blue Book’s 2024 Best Resale Value Awards for the third consecutive year. The automaker’s signature brand, Toyota, won the top prize of Best Resale Value: Brand, and its sibling, Lexus, again earned […] [Read More]

Connected carsharing marketplace Getaround has promoted general manager of gig AJ Lee to chief operating officer. The company said Lee, who will report to CEO Eduardo Iniguez, will be responsible for accelerating Getaround’s growth and path to profitability, as well as overseeing operations, marketing, sales and other functions. Lee said in a news release he’ll […] [Read More]

Three members of the Federal Trade Commission were confirmed on Friday. Two commissioners — Andrew Ferguson and Melissa Holyoak — are beginning their first term, while the third — Rebecca Kelly Slaughter — is starting a second term. Ferguson and Holyoak were nominated on July 11 by President Biden to serve as FTC commissioners. Ferguson’s […] [Read More]

We just sprung forward over the weekend, but Bain & Company is already seeing “green shoots” in the private-equity world. Experts said on Monday those “green shoots” are emerging for prospects this year and beyond within the global private equity world. That’s despite 2023 having generated the sharpest drop-off in private-equity activity since the global […] [Read More]

TomoCredit rolled out its latest tool last week aimed at expanding credit accessibility for millions of Americans. The fintech startup — which began because of experiences of trying to secure auto financing — introduced TomoScore, which TomoCredit said is an innovative cash flow-based credit score that can provides finance companies and lenders a “risk-free” way […] [Read More]