A merger Financial Services Group first revealed in October now is closed, according to an announcement on Tuesday. First Investors said the acquisition of the subprime auto finance company by funds affiliated with Gallatin Point Capital and minority investor Jacobs Asset Management closed on Thursday, following receipt of all required consents and regulatory approvals. Terms […] [Read More]

After surveying thousands of Canadians, we found that the biggest pain points customers have when buying used cars is that they don’t know if the vehicle is in good shape. Purchasing a car is one of the biggest decisions in a person’s life, so they want to be sure that they know the vehicle’s story […] [Read More]

Cox Automotive made quite the M&A splash to begin 2021, announcing two major purchases Tuesday that provide some additional muscle to its wholesale and mobility units, respectively. In separate announcements, Cox said it has acquired Fyusion — a company in the computer vision and vehicle imaging solutions space — and Dickinson Fleet Services, a mobile […] [Read More]

Each year, Lake Charles Toyota contributes a scholarship to the SOWELA School of Transportation to help prospective students chase their dreams. Lake Charles Toyota, located in Lake Charles, La., has given more than $50,000 toward the local technical community college over the past nine years. That charitable work continued recently, as Lake Charles Toyota said […] [Read More]

As part of our association leadership series in the January edition of Auto Remarketing, we connect with the American International Automobile Dealers Association for a Q&A with its 2021 chairman, Steve Gates, who will formally begin that role in February. Gates is the owner of Gates Auto Family, with locations in Kentucky, Indiana and Tennessee. The emailed […] [Read More]

A&L Motor Sales closed 2020 and opened 2021 with a brand new, reimagined BMW showroom to showcase its inventory and more than seven decades of retailing experience. As part of its $15 million overall renovation, the luxury dealership east of Pittsburgh that represents BMW as well as Jaguar and Land Rover revamped its showroom to […] [Read More]

The Crown Automotive Group has acquired its third Tennessee dealership, Kelly Subaru in Chattanooga. Crown’s Tennessee market footprint also includes Crown Chrysler in Chattanooga and Crown Chrysler in Cleveland. The Kelly family has served the Chattanooga community for more than 80 years, and Crown president and chief operating officer Jim Myers said the Kelly team […] [Read More]

Stating that the announcement reinforces its dealer-first ethos, connected car platform Dealerware said it is part of a closed marketplace of vendors that Toyota Motor North America has selected to power its “Rent a Toyota” program at more than 850 U.S. dealerships. Dealerware said it now offers a customer-centered and cost-efficient experience for Toyota’s vehicle […] [Read More]

Used-vehicle sales for 2020 were expected to finish 6% softer than the final 2019 tally, but it appears the year at least closed on a positive note for pre-owned. In a forecast released Dec. 28, TrueCar was projecting 3.1 million used-vehicle sales for December, which would beat November sales by 7% and prior-year figures by […] [Read More]

The pandemic might have intensified a challenge that dealers could encounter more often if they retail a vehicle to a customer who resides somewhere else other than the state where the store operates. Computerized Vehicle Registration (CVR) — a joint venture between CDK Global and Reynolds and Reynolds — recently announced a new partnership with […] [Read More]