Shift, which merged with CarLotz in 2022, is ending its operations of the East Coast CarLotz stores it obtained in that merger and will instead put its efforts toward developing omnichannel capabilities at its other locations and focus on its path to profitability, the company said Thursday. A local dealership group is taking on the store leases, […] [Read More]

North Carolina-based Team Automotive Group has added a store from the Palmetto State next door. The retailer said Thursday it has closed on its deal to acquire to Addy’s Harbor Dodge Ram Fiat in Myrtle Beach, S.C., which is Team Automotive’s first store in South Carolina. With the purchase, the group now has seven stores […] [Read More]

A couple of developments surfaced this week after the National Automobile Dealers Association wrapped up NADA Show 2023. First, NADA welcomed the reintroduction of the Preventing Auto Recycling Theft (PART) Act (S. 154) by four U.S. Senators. Then, the association’s workforce initiative received a $30,000 donation from Assurant. NADA explained the PART Act would assist […] [Read More]

While smaller than the increases policymakers unfurled last year, the Federal Reserve made the expected move on Wednesday of pushing the target for the Federal Funds Rate up by another 25 basis points to the 4.50% to 4.75% range. The move is likely to make it more challenging both for consumers to secure auto financing […] [Read More]

If a picture is worth 1,000 words, perhaps dealers might use that many to describe the state of their vehicle images used to highlight their inventory. Dealer Image Pro, a leader in professional photo, video and 360-degree software for automotive dealerships, recently announced results from a survey it commissioned to better understand the level of […] [Read More]

Another Canadian dealer group is making moves in the United States. Canada’s Go Auto, a family-owned dealer group based in Edmonton, has made its first U.S. acquisition, announcing Wednesday it has purchased Washington state’s Mercedes-Benz of Bellingham and Toyota of Bellingham. Not only are these Go Auto’s first U.S. store, they represent the group’s first acquisition […] [Read More]

America’s Group and two of its auctions have taken home a few awards this year in the annual auction awards program at C&F Finance Company and C&F Remarketing. The overall group was named C&F Finance Company’s National Auction of the Year, while America’s Auto Auction Virginia Beach earned C&F Remarketing’s Auction of the Year honors and America’s […] [Read More]

There is something surreal about today's retail automotive market. Assumptions, once taken as articles of faith, are not only being questioned but also discredited altogether. Take, for example, the role vehicle leases have traditionally played in creating a win-win-win value proposition that has well-served consumers, dealerships, and automotive manufacturers for decades. For consumers interested in […] [Read More]

On Wednesday, Rapid Recon — which was part of an acquisition announcement made last week by Vehlo — named Bridget Townsend as senior vice president of product development. Among Auto Remarketing’s Women in Remarketing honorees in 2014, Townsend has been in software development since 1995, focusing on automotive software solutions since 2000. She joined Rapid […] [Read More]

The American Recovery Association said submissions are open for the 2023 NARS Industry Awards, which will be given during the 15th annual North American Repossessors Summit (NARS) on April 6-7 in Orlando, Fla. Awards will be handed out in seven different categories. The NARS Planning Committee will select the top three nominations in each category, […] [Read More]