When StoneEagle F&I senior vice president of business development Joe St. John worked as a dealership manager, he taped a dime to the phones of store employees in the finance department to remind them of the revenue goal for every delivered vehicle. “Now, if you’re running less than $1,000 a car, you probably need to […] [Read More]

CarLotz is opening its second hub in California, with this one serving the Los Angeles area. The company said Tuesday it plans to open the Pomona, Calif., hub location later this year. Its other Golden State hub is in Bakersfield, which opened last week. “We were confident that CarLotz’s consignment model would fill a void in […] [Read More]

Asbury Automotive Group has hired a Group 1 Automotive executive as its new chief financial officer. The retailer said Tuesday that Michael Welch, who was most recently vice president and corporate controller at Group 1, will be the new Asbury senior VP and CFO effective Aug. 9. Welch had been with Group 1 since 2000 […] [Read More]

And then after 23 consecutive weeks, wholesale prices finally dipped ever so slightly. On Tuesday, Black Book spotted the first value decrease since January during the week that closed on Saturday as the United States prepared to celebrate the Fourth of July on the following day. [Read More]

At the halfway point of 2021, the certified pre-owned market in Canada is showing some promise.  Below is a roundup of how various automakers are faring, based on results provided to Auto Remarketing Canada. [Read More]

Lithia Motors isn’t just buying franchised dealerships. The company also is investing in Driveway. On Tuesday, executives announced three new features powered by artificial intelligence now are live on driveway.com. Driveway’s upgraded shopping experience can enable customers to shop and filter vehicles by monthly payment, customize a payment with a new budget and payment calculator […] [Read More]

Santander Consumer USA Holdings (SC) has a significant decision to make. According to a news release distributed just before the Fourth of July weekend, the subprime auto finance company announced that it has received a non-binding proposal from its majority shareholder — Santander Holdings USA (SHUSA) — to acquire all of the outstanding common shares […] [Read More]

It might be hard to begrudge Hertz Global Holdings executives and new board members if they shot off some fireworks ahead of the Fourth of July holiday. This week, Hertz announced that it has successfully completed its Chapter 11 restructuring process and has emerged as a “financially and operationally stronger company that is well-positioned for […] [Read More]

The flurry of dealer group moves continued with activities in California and Texas involving Qvale Automotive Group and Principle Auto. According to a news release from the Presidio Group on Thursday, the investment bank specializing in mergers and acquisitions, capital raising and investments in the auto retail and consumer mobility sectors exclusively advised Bruce Qvale […] [Read More]

Driven Data, which is an advanced software marketing provider and digital marketing agency for the retail auto industry, recently announced the closure of a $4.5 million Series B fundraising round. The company's founder and chief executive officer, Jon Berna, joined the Auto Remarketing Podcast to talk about the pain points Driven Data is trying to solve, […] [Read More]