Lithia & Driveway grew its dealership footprint in a significant way again on Tuesday. The group announced the purchase of 13 locations from the Priority Automotive Group in Virginia, expanding its footprint in the strong performing Mid-Atlantic Region. The company said the stores are projected to generate more than $1.2 billion in annualized revenue. Executives […] [Read More]

One of this year’s Emerging 8 honorees has a new chief executive officer. On Tuesday, STELLA Automotive AI appointed Rich Sands as its new CEO. Sands arrives at STELLA Automotive AI with more than 25 years of product and business leadership within the global automotive industry, bringing a wealth of experience from executive roles at […] [Read More]

UVeye, which develops automated vehicle-inspection systems, welcomed a new executive on Tuesday who brings vast OEM experience. The company that recently secured $100 million in Series D funding to support major new partnership, sales and manufacturing initiatives in North America hired Rick Bryant as its new executive vice president for strategic partnerships. Bryant most recently […] [Read More]

Black Book spotted more softening of wholesale prices and sales rates last week. But analysts said one overall trend became clear even as wholesale prices decreased another 0.37% and the estimated average weekly sales rate decreased to 48%. “Last week, we saw mixed signals again in the wholesale market,” Black Book said in its latest […] [Read More]

SIXT USA now has the Sunshine State nicely covered. The luxury vehicle rental operation opened its newest Florida location on Tuesday, starting service at Jacksonville International Airport. SIXT now has availability throughout Florida at six other markets, including Orlando, Miami, Fort Lauderdale, Tampa, Fort Myers and West Palm Beach. “As a civil-military airport that is […] [Read More]

On the last day of May, the Federal Trade Commission acknowledged it received a petition to regulate spot deliveries by dealerships and auto finance companies. The experts at Ignite Consulting Partners offered their reaction to this effort championed by six consumer advocates. “The practice of spot delivery has been a hot-button issue for consumer advocates […] [Read More]

Cox Automotive reported that credit availability for auto finance recently dropped to a two-year low. And the April 2023 Senior Loan Officer Opinion Survey on Bank Lending Practices orchestrated by the Federal Reserve showed that level might stay there for the foreseeable future. Access to auto credit tightened again in May, according to the Dealertrack […] [Read More]

E Automotive Inc. is searching for a new chief financial officer. The parent company of EBlock and EDealer announced last week that it has engaged an external firm to initiate a search for a new CFO. The move is a result of an agreement between the company and Andrew Bohlin, who intends to pursue new […] [Read More]

Remarketing+, powered by Advent Resources, helps consignors, fleets, and car rental companies to move their de-fleeting upstream in an effort to save sellers in reconditioning, transportation, holding and transaction fees. Now the company wants to assist private consumers, too. On Monday, Remarketing+ rolled out its newest offering, Driver Sales, which is a white label solution […] [Read More]

America’s Group acquired Liquid Motors nearly two years ago. On Monday, the company announced an executive succession plan, as Liquid Motors founder and president Michael Daseke will depart from the position effective June 30. Selected to succeed Daseke as president on July 1 is America’s Group vice president of digital strategy Kelly McAllister, who has […] [Read More]