Hudson Cook partners Patty Covington and Eric Johnson are among the keynote speakers on the docket for a two-day online series hosted by Chernek Consulting titled, “F&I Master Series Online Forum — The Digital Age.” Beginning on Wednesday, Covington, Johnson and more than two dozen other experts will be discussing trends and sharing best practices […] [Read More]

In what officials called a record-setting settlement, the Federal Trade Commission and the State of Illinois said on Friday that they are taking action against Napleton, a large, multistate auto dealer group based in Illinois. Officials said they’re making this move because Napleton was “sneaking illegal junk fees for unwanted ‘add-ons’ onto customers’ bills and for […] [Read More]

TrueCar’s used-vehicle sales forecast for March called for a double-digit rise on a sequential basis, but a double-digit drop on an annual comparison. An anecdote from Brian Finkelmeyer, who actually is the senior director of new-vehicle sales strategies at Cox Automotive, might provide a vivid image of how used-vehicle sales unfolded to close the first quarter. [Read More]

Another busy week of activities among dealer groups unfolded with more acquisitions, store openings and executives in leadership positions. While Penske Automotive Group made a move overseas, let’s begin this dealer roundup with Foundation Automotive Corp. adding the 30th dealership to its portfolio. On Thursday, Foundation announced its second acquisition so far this year in […] [Read More]

The top executive leadership changes at CarLotz continued on Thursday. Along with announcing that chief operating officer John Foley and chief technology officer Dan Valerian will be departing in April, CarLotz appointed a new president as well as a new CTO. Taking on the role of president of consignment-to-retail used vehicle marketplace is Ozan Kaya, […] [Read More]

XLerate Group, the parent company of America’s Auto Auction, has reinforced its sales and marketing departments by placing a trio of experienced wholesale market professionals into critical roles. The latest move arrived on Friday when the company announced the appointment of Sawyer Walker as director of national sales for the combined wholesale operation.  Walker started […] [Read More]

This week, GM Financial named five regional 2021 Auction of the Year winners and a winner of Most Valuable Auction of the Year, which are part of the consignor’s annual nationwide auction of excellence program recognizing the highest-performing auction locations in 2021. GM Financial said recipients were selected after reviewing each of the company’s 50 […] [Read More]

Most of the major financing metrics Edmunds tracks regularly are poised to set new records. With the retail price of new and used vehicles so high, Edmunds reported on Friday that the average amount financed and monthly payments recorded during the first quarter are at the highest levels analysts have ever seen. [Read More]

Within the week of being named one of this year’s Emerging 8 honorees, Car Capital showed again why it’s gaining momentum in auto financing. The technology company that strives to get any deal bought no matter the consumer credit background is continuing to build its network of dealer partners with CarLotz coming aboard on Wednesday. […] [Read More]

On Wednesday, Copart announced that its board of directors has appointed Jeff Liaw, who has been serving as president and chief executive officer North America, to be co-CEO in a move that’s effective on Friday. According to a news release, Copart said Jay Adair will continue his leadership of the company as co-CEO and as […] [Read More]