Penske Automotive Group’s presence in the U.K. widened considerably Monday with an agreement to acquire Rybrook Group Limited. The acquisition includes Rybrook’s 15 premium-brand dealerships in the U.K.: four BMW dealerships, four MINI dealerships, four Volvo dealerships, two Land Rover dealerships and one Porsche dealership. Three of the BMW locations also retail BMW Motorrad motorcycles. […] [Read More]

Vehicle logistics, Casey Harmon says, is an “ever-expanding set of decisions,” and as senior vice president of enterprise accounts for RunBuggy, a vehicle transportation technology platform, Harmon is working on ways to use artificial intelligence to make right choices and make vehicle transport faster, smarter and more efficient. During Used Car Week, Harmon joined Cherokee […] [Read More]

Point Predictive chief fraud strategist Frank McKenna is back on the Auto Remarketing Podcast. McKenna recapped what he’s observed on the fraud front this year and how the auto finance industry continues to fight to keep it out of their book of business. Listen to the episode in the window below. [Read More]

Point Predictive and Tenet Energy are powering a collaboration aimed at keeping fraud out of electric vehicle financing. Through this strategic partnership, Tenet is integrating Point Predictive’s IncomePass solution into its fully digital climate financing ecosystem, offering customers a one-stop shop for everything they need to purchase and own an electric vehicle. IncomePass can empower […] [Read More]

Experts see the Federal Reserve leaving interest rates unchanged when policymakers have their last opportunity of the year to make a modification later this week. The expectation comes in part because of rising consumer sentiment, which happens to be going counter to what dealers’ feelings are as well as the current job market. Comerica Bank […] [Read More]

Auto dealers have issued a vote of no confidence to the current U.S. economy. The Cox Automotive Dealer Sentiment Index for the fourth quarter of 2023 showed a sharp drop from Q3, which Cox analysts attributed to the ongoing adverse effects of high interest rates and a weakening economy on the automotive market, the two […] [Read More]

Carvana hosted institutional investors and analysts for a tour of its Inspection and Reconditioning Center (IRC) in Haines City, Fla. And according to Carvana’s recap of the festivities, the investment community liked what it saw. The online used-vehicle retailer said the event on Nov. 30 provided a real-time look at the company’s operational efficiency gains, […] [Read More]

Conversational AI technology provider STELLA Automotive AI has joined with Cox Automotive’s Xtime, a provider of end-to-end service department software, in a read-write data integration that companies said will provide benefits for their mutual dealer customers. The partnership integrates STELLA Service Booking into the Xtime platform, which the companies said saves dealers from having to […] [Read More]

A topsy-turvy ride at the county fair or an amusement park might be fun, but when it comes to used-vehicle prices, such ups and downs can wreak havoc for dealers, auctions, remarketers, forecasters and more. Good thing for the auto industry is that signs point to “less of a roller coaster in the new year,” […] [Read More]

Whether she’s dishing out deadpan as quippy salesperson turned regional manager Karen Filippelli or balancing out her high-energy BFF Leslie Knope as cool, calm Ann Perkins, Rashida Jones can deliver a performance with confidence. Her new role? Helping inspire that same confidence for Mitsubishi customers. The actress, director, producer and writer best known for her […] [Read More]