While acknowledging “the economic environment has changed significantly since 2020,” Federal Reserve chair Jerome Powell reiterated how policymakers approach their work associated with interest rates and other matters while being guided by what’s known as “the consensus statement.” Finalized in 2012, Powell explained last week that the Federal Open Market Committee (FOMC) first codified its […] [Read More]

Fitch Ratings found a path by which U.S. tariffs on imported autos and automotive parts could leave a positive impact — more than just what might be said by President Trump. Analysts said those tariffs will strengthen auto loan and lease recoveries and residual values (RVs), supporting ABS asset performance. “This will help to partially […] [Read More]

The Reynolds and Reynolds Company said in a news release Wednesday that president Chris Walsh has been named acting CEO. The former CEO Tommy Barras is no longer with Reynolds, the company said. In a separate news release on Tuesday, The Buzbee Law Firm said it has filed a $300 million lawsuit against Reynolds on […] [Read More]

BizzyCar, an AI-driven automated service recall management platform, is updating its Mobile Service Software, offering enhanced features for its nationwide network of dealer partners. BizzyCar’s platform is designed to automate appointment scheduling and identify ideal customers for mobile visits, especially those with time-sensitive recalls. The company said its Mobile Service app has been used for […] [Read More]

Group 1 Automotive is growing again. The dealership group announced the addition of two dealerships in Florida and one in Texas in recently completed transactions. The company has acquired Scanlon Auto Group, consisting of Scanlon Lexus and Scanlon Acura in Fort Myers, Fla., from the Scanlon family, and Mercedes-Benz of South Austin in Austin, Texas, […] [Read More]

Montway Auto Transport, a third-party logistics brokerage, said Tuesday it acquired Angels Moving Autos, which is a luxury auto transport brokerage. Angels Moving Autos was founded in 2003 and provides “white-glove” enclosed and open vehicle shipping services. It offers services to dealerships and individuals for the transport of high-end sports cars, luxury vehicles, as well […] [Read More]

Rivian has another platform partner for its fleet operations. Less than a week after announcing an integration with Bluedot’s platform to handle charging for its service fleet, the electric vehicle manufacturer has teamed with Samsara Inc. in a collaboration that allows Samsara customers to access data about the Rivian vehicles in their fleet on the […] [Read More]

Peter Kelly has said it before, and he said it again during OPENLANE’s first quarter 2025 earnings call on May 7: “OPENLANE is a digital marketplace in a relationship business.” “And the relationships that our customers have with our people and our products are critical to our long-term success,” said Kelly, who is CEO of OPENLANE. Kelly spent a good portion of the earnings call talking about how the company is ... [Read More]

Hiester Automotive Group founder and CEO John Hiester took a thoughtful path at this spring’s Auto Intel Summit to describe what dealer intelligence really is. Hiester shared his views and journey to success with Cherokee Media Group’s Bill Zadeits during a lunchtime conversation that’s now available through this episode of the Auto Remarketing Podcast. Listen […] [Read More]

Cherokee Media Group’s Nick Zulovich asked Brent Carmichael about what 2025 has been like so far for independent dealers. The director of education for the National Independent Automobile Dealers Association smiled and chuckled for a moment. Carmichael’s response and his comments about what’s in store for the upcoming NIADA Convention and Expo are included in […] [Read More]