Editor's Note: This is a special preview, available only to CMG Premium subscribers, of our special "Top Dealers: Champions in the Community" issue for June. The Jim Ellis Automotive Group, well known in the Atlanta metro area and surrounding Georgia communities, is celebrating 50 years of unique community service efforts and successful dealership business.  The company first […] [Read More]

Editor's Note: This is a special preview, available only to CMG Premium subscribers, of our special "Top Dealers: Champions in the Community" issue for June. Norma Jean Ross was often thinking ahead. Ross assumed leadership of the Bob Ross Auto Group in Centerville, Ohio in 1997 after the death of her husband, Robert P. Ross Sr. […] [Read More]

Though their net losses and losses from operations increased during the first quarter, both Shift and Vroom boosted their respective ecommerce unit sales by percentages that were in or near triple-digits. The online used used-car marketplaces each reported their respective Q1 results Wednesday. Starting with Shift, its quarterly revenue was a record $106.0 million, a […] [Read More]

“It’s a perfect storm of used-vehicle demand meeting a perfect drought of used-vehicle supply.” That was the word from KAR Global chief economist Tom Kontos in his latest update regarding current used-vehicle market conditions. Consumers are now learning what used-vehicle retailers have known for eight months or more. Many new-vehicle models are in short supply […] [Read More]

Cox Automotive reported this week that auto financing availability in April was the most accessible since April 2020, according to the Dealertrack Auto Credit Availability Index. But analysts acknowledged that making year-over-year comparisons is challenging, since they’re versus the outset of the pandemic. The index reading increased 0.4% to 98.4 in April, reflecting that credit […] [Read More]

Evidently, the rapid transformation toward online interactions and transactions by dealerships and lenders in Canada is easier said than done — even after a full year of COVID-19 realities. According to the J.D. Power 2021 Canada Dealer Financing Satisfaction Study released on Thursday, 49% of Canadian dealerships saw an increase in online sales during the […] [Read More]

It may only be a coincidence that the fastest-selling used vehicles in April were also, quite simply, the fastest vehicles. Or maybe not. It was warming up outside — great for driving a sports car — and as iSeeCars.com executive analyst Karl Brauer said in an analysis, “High-performance vehicles have been popular during the pandemic as […] [Read More]

Perhaps fueled in part by the revenue generated by their used-vehicle departments, two of the publicly traded dealer groups are sharing the financial success with their shareholders. This week, both Penske Automotive Group and Group 1 Automotive announced plans for dividends. According to a news release from Penske, the company’s board of directors has increased […] [Read More]

The pandemic certainly impacted Hertz Global Holdings as much as any company with a connection to vehicles. But the company shared several positive developments in recent days, including the closing of its Donlen sale, more than $1 billion in first quarter revenue as well as how its exit from Chapter 11 bankruptcy will be funded. […] [Read More]

AUL Corp. reinforced its executive leadership this week to ensure the F&I provider remains on solid financial footing. First, AUL appointed industry veteran Dennis Mara as the firm’s new chief financial officer after four months of serving in the position on an interim basis as he led the successful implementation of the firm’s new accounting […] [Read More]