The Presidio Group again served as the advisor to dealerships changing hands. According to a news release from the firm, the Presidio Group played a role in the sale of Tysinger Motor Co. and its five dealership franchises to Mills Automotive Group. The transaction included Audi, Hyundai, Genesis and Mercedes-Benz dealership franchises as well as […] [Read More]

Both a large subprime auto finance company and a state attorney general seemed pleased to announce a settlement between them that is involving more than $27 million. On Wednesday, Credit Acceptance became the fifth different finance company to finalize a settlement with the Massachusetts attorney general during the past five years. According to a news […] [Read More]

Vincentric announced its 2021 Best CPO Value in Canada Awards this week, and leading the pack were Kia and Mazda. Each of those automakers earned one brand award apiece, and each took home four model-level awards. Specifically, Kia earned brand honors in the passenger car category, along with four model awards. Mazda earned top marks […] [Read More]

General Motors acquired AmeriCredit 11 years ago in a move that eventually led the formation of its new captive finance company at GM Financial. Another domestic OEM is on the same path. On Wednesday, Stellantis announced it has entered into a definitive agreement to acquire F1 Holdings Corp., parent company to First Investors Financial Services […] [Read More]

XLerate Group will have a new majority owner. Private equity firm Brightstar Capital Partners announced Thursday it has entered a definitive agreement to acquire a majority stake in the auto auction and remarketing facilitation company. Current owner Huron Capital and XLerate’s senior management team will retain minority equity stakes. Terms of the transaction were not disclosed. […] [Read More]

A few moments after his keynote presentation at the 25th Non-Prime Auto Financing Conference hosted by the National Automotive Finance Association, Cox Automotive chief economist Jonathan Smoke sat down with senior editor Nick Zulovich for a wide-ranging conversation. Smoke recapped the highlights of his presentation, including a popular song from the 1980s to summarize what’s […] [Read More]

Just over a month after adding Subaru and Volkswagen stores in Grand Junction, Sonic Automotive has expanded in Colorado yet again, this time making a move in Glenwood Springs. The retailer said Wednesday it has purchased Audi Glenwood Springs and Glenwood Springs Volkswagen. In late July, Sonic announced it had purchased Grand Junction Subaru and […] [Read More]

So much of our daily life is filled with interconnected digital experiences, and more so when making a purchase. Tools, software platforms and services create a highly connected digital ecosystem, which can facilitate a positive experience throughout a car buyer’s journey, while also delivering the transparency consumers desire. Creating a digital ecosystem is key to […] [Read More]

CarMax is ramping up its presence in the Dallas area, including plans for a new technology innovation center, auction facility and remote customer experience center. The used-car retailer plans to hire for more than 300 positions as part of this growth. Starting with the new auction operations, CarMax is centralizing its store auctions in the […] [Read More]

Cox Automotive Mobility said Wednesday it has purchased Spiers New Technologies, a service provider for electric vehicle battery lifecycle management with operations in the U.S. and Europe. The pairing of the companies is part of Cox Automotive Mobility’s new end-to-end global EV battery service network, where the company offers high-voltage battery solutions to dealers, automakers […] [Read More]