Penske Automotive Group said Thursday it has opened a CarShop location in Scottsdale, Ariz., which is its eighth used-car standalone store in the U.S. and 23rd worldwide. The store features a 45,000-square-foot facility located at the Scottsdale AutoShow on the Salt River Pima-Maricopa Indian Community. “We are certain that our new Scottsdale location will become […] [Read More]

Jim Jackson, a fan of saltwater fishing when he’s off the clock, found quite the catch career-wise some 30 years ago. After finishing his service in the U.S. Army, Jackson said he was “fortunate enough” to have “stumbled into” the auto industry, with a job at a salvage auction company later purchased by IAA. Jackson […] [Read More]

After TransUnion released its Q3 2021 Quarterly Credit Industry Insights Report (CIIR), Satyan Merchant made a return appearance on the Auto Remarketing Podcast. The senior vice president and automotive business leader at TransUnion not only delved deeper into the third-quarter metrics, but also gave perspectives on how much impact pandemic-triggered customer assistance programs have been […] [Read More]

Shift Technologies co-chief executive officer Toby Russell will step from that position on Feb. 1, but will remain on the board of directors, the automotive ecommerce company said Thursday. Russell will remain a strategic advisor for Shift. Shift co-CEO George Arison will become sole CEO on Feb. 1. And in a transition that began Thursday, […] [Read More]

The National Independent Automobile Dealers Association’s certified pre-owned program has been brought into an investigation by the NYC Department of Consumer and Worker Protection (DCWP) of multiple dealerships in New York City. On Wednesday, DCWP commissioner Peter Hatch announced cases against two dealer groups — Kings Autoshow and JF Motors — which operate a total […] [Read More]

Limited vehicle supply and increased consumer demand does not mean dealers should pull back from advertising.  Dealers should remain focused on a few key strategies, such as shifting advertising spending to help with inventory acquisition instead of customer acquisition — or identifying which set of cars are sitting on the lot longer than others. It […] [Read More]

This time, I’m going to share the story of how I learned the hard lesson that “everything you say can and will be used against you in a court of law.” I did a presentation recently on the importance of compliant advertising and told this story.  The audience responded favorably, so I think it is […] [Read More]

E Automotive Inc., which is the company behind the EBlock digital wholesale marketplace and the EDealer digital retail products, is officially a publicly traded company in Canada.   Common shares of the company began trading on the Toronto Stock Exchange under the “EINC” symbol on Wednesday.    The shares closed at $23.00 Wednesday, and opened […] [Read More]

Cars.com announced on Thursday that it acquired one of the first Emerging 8 honorees spotlighted at the Automotive Intelligence Summit. According to a news release, Cars.com signed a definitive agreement to acquire CreditIQ, a fintech platform that provides instant online auto finance screening and approvals to facilitate online vehicle buying. Executives said consideration for the […] [Read More]

Kroll Bond Rating Agency (KBRA) weighed in on another element to the completion of Stellantis’ acquisition of First Investors Financial Services Group that created a new captive finance company for the automaker. While First Investors has been renamed Stellantis Financial Services US Corp., the company that specialized in subprime auto financing still has previously deployed […] [Read More]