The wave of M&A activity has been one of the biggest storylines in the auto industry this year, particularly among dealers and dealer groups, and that continues as October gets underway. Starting with some news involving CarMax, the retailer has finished divesting its new-car dealership franchises with the sale of CarMax Kenosha Toyota to the Rydell […] [Read More]

The newest addition at Cherokee Media Group knows first-hand how complex and fast-paced the used-vehicle industry is. Dana Nusbaum previously worked at IAA’s facility in Wilmington, N.C., performing every job function from title work to writing condition reports to even climbing aboard a forklift to move salvage vehicles. Now Nusbaum is an account executive with […] [Read More]

AutoCanada, who currently operates 66 franchised dealerships covering 27 brands, just purchased a new collision center located in Airdrie, Alberta.  The dealer group announced the acquisition of Airdrie Autobody, which has been serving the Airdrie community for over 25 years, and is located close to a total of seven of AutoCanada's stores. These include: Airdrie Chrysler Dodge […] [Read More]

With the third quarter having closed on Thursday, Edmunds noticed four intriguing auto-finance trends, as each metric established new records in its database. Analysts explained that these trends surfaced because consumers are paying more than ever to finance used vehicle purchases as tighter inventory and fewer discounts in the new-vehicle market push shoppers to seek […] [Read More]

The Department of Justice made a pair of announcements last week, with one involving Santander Consumer USA and the Servicemembers Civil Relief Act (SCRA). According to a news release, the finance company’s Chrysler Capital division has agreed to pay more than $134,000 to settle a federal lawsuit alleging that the company denied early vehicle lease […] [Read More]

J.D. Power sees competition for paper among finance companies as intense as ever, especially with monthly retail sales of new vehicles down 30% from pre-pandemic levels. According to the J.D. Power 2021 U.S. Dealer Financing Satisfaction Study, finance companies that find ways to form close relationships with dealers and deliver consistently high service levels are […] [Read More]

Alfa recently announced the three charities that the company is supporting globally for 2021 and beyond. Alfa’s U.S. operation has chosen Feeding America, one of the nation’s largest domestic hunger-relief organizations, working to connect people with food and end hunger. Officials said Feeding America is able to help one in seven Americans by providing 4.3 […] [Read More]

Cybersecurity Awareness Month started on Friday. It’s an initiative now in its 18th year led by the National Cyber Security Alliance (NCSA), in partnership with the Cybersecurity and Infrastructure Security Agency (CISA), to ensure that everyone has the resources they need to be safer and more secure online. Officials highlighted that this year’s theme for […] [Read More]

Policaro Automotive is continuing its quest to "redefine the automotive retail experience," this time through premium service offerings and new franchises for its customers to shop.  In July, the dealer group broke ground on a new Porsche store in Kitchener-Waterloo. The store, set to be located at 1705 Victoria Street North in Waterloo, is Policaro’s second […] [Read More]

Sonic Automotive announced on Monday it has named a chief marketing officer and a chief revenue officer for its EchoPark Automotive standalone used-car store program. Dino Bernacchi is EchoPark's first CMO and will lead the Sonic pre-owned stores'  marketing as nationwide expansion continues. Most recently, Bernacchi served as the senior vice president of marketing for the Cleveland Browns NFL franchise. And […] [Read More]