AUL Corp. senior vice president of sales and marketing Paul McCarthy identified nine F&I tips and trends he sees being in play for dealerships for remainder of the year. McCarthy touched on topics such as what’s on the dealership website to how much profit stores can expect to generate each time a vehicle is delivered. […] [Read More]

Shift and CarLotz have agreed to merge. The companies said in a release late Tuesday afternoon they have entered a definitive agreement to combine in a stock-for-stock merger, with the combined company set to trade under the SFT ticker on Nasdaq. Shift is an end-to-end used-car ecommerce platform, and CarLotz is a consignment-to-retail used-car marketplace […] [Read More]

Electric vehicle subscription company Autonomy has placed a $1.2 billion fleet order for 23,000 EVs from 17 automakers across the world to broaden its subscription fleet. When Autonomy launched its EV subscription platform less than a year ago, it began by offering the Tesla Model 3, later adding the Model Y, with additional models from the […] [Read More]

Black Book chief data science officer Alex Yurchenko previously predicted, “We expect the wholesale prices to accelerate their declines in August as consumers are staying away from large purchases.” Black Book’s newest weekly data reinforced Yurchenko’s expectations, since wholesale values dropped another … [Read More]

As a bipartisan proposal sits on Capitol Hill to combat rising catalytic convertor theft in the U.S., Church Mutual Insurance Co. offered more data and dollar figures on Tuesday to illustrate how much of a problem it is. The insurer of non-profits, schools and houses of worship said it has covered nearly $3 million in […] [Read More]

PureCars said Tuesday it has purchased AutoSigma, a digital marketing technology and services provider for car dealers. The addition of AutoSigma’s digital asset platform to PureCars can allow dealers get vehicle advertising out to multiple channels in a more timely manner, helping to alleviate sluggish “speed to market.” Terms of the deal were not disclosed. […] [Read More]

Semersky Enterprises has acquired Audi Kirkwood from LeadCar, according to a news release Tuesday from Haig Partners, which advised Semersky on the deal. Semersky has three Audi stores in the greater Chicago and St. Louis areas. “We are excited to add Audi Kirkwood to the Semersky family of Audi dealerships and bring our passion for […] [Read More]

Federal authorities secured at least one conviction of an individual orchestrating a complex fraud scheme that could have impacted your dealership or finance company. According to a news release from the U.S. Attorney’s Office for district of South Carolina, Quinae Shamyra Stephens, of Douglasville, Ga., was sentenced last week to more than 18 years in […] [Read More]

While still up a double-digit percentage from a year ago, wholesale prices in July softened ever so slightly from June, marking the second straight month-over-month decrease. And there could be some moderation — even a reversal — in the year-over-year price differences as the second half of the year continues, according to Cox Automotive. The […] [Read More]

Penske Automotive Group chair and chief executive officer Roger Penske summed up his company’s second quarter 2022 earnings report by noting good news along with challenges. “Despite the supply constraints that continue to impact new vehicle inventory and availability, demand remains strong, and our pipeline of vehicles remains forward sold,” Penske said during the company’s […] [Read More]