Zanchin Automotive Group announced a new chief operating officer earlier this month: Neal Bodack, who joined the group in 2016 as managing partner of Mercedes-Benz Durham. Bodack, who has served on Zanchin’s senior management team since joining the company, came over from Mercedes-Benz Canada, where he worked for nearly 30 years. His multiple senior leadership […] [Read More]

AutoNation has finished selling off its stake in online retailer Vroom, an investment that ultimately resulted in a $165 million cash gain for the largest dealership group in the U.S. That wasn’t the only major news announced Tuesday morning by AutoNation, which reported full-year and fourth quarter 2020 earnings. The auto retailer has a new chairman […] [Read More]

The flurry of dealership M&A moves continues in February. We start with a public retailer from the Northwest that has expanded its presence in the Southeast. Lithia Motors & Driveway announced last week that the group has purchased a Land Rover dealership and a Chrysler Jeep Dodge Ram store from Fields Auto Group. Both locations […] [Read More]

Motley’s Richmond Auto Auction in Virginia received three awards from C&F Finance Co. and C&F Remarketing, including Auction of the Year. It is the second year that Motley’s has received the auction of the year award from C&F Finance, an indirect finance company based in Richmond that provides automobile, marine and RV financing in 22 states. […] [Read More]

AutoAp has launched an online service to help auto dealers assess their current safety recall management capabilities. A recalls-as-a-service (RaaS) company, AutoAp said the new online service is called Safety Recall Performance (SRPsm) Assessment. Free to dealers until March 31, it also provides recommendations on how to improve recall repair management. AutoAp, which said its research […] [Read More]

This isn’t Marty McFarland’s first experience in starting up a company. But it is the first time he’s been involved in one during a pandemic. McFarland appeared on the Auto Remarketing Podcast not only to recap the journey Kinetic Advantage has navigated so far, but also how the floorplan company is looking to build a […] [Read More]

Scott Maybee now has been the president of NextGear Capital for a little more than a year. During much of that time, the pandemic has impacted how the floorplan company functioned internally and with its independent dealership client base. Maybee joined the Auto Remarketing Podcast to describe what that experience has been like for him […] [Read More]

Assurant recently rolled out enhancements within two areas its clients and dealers might want the most reinforcements — training and mobile technology. First, Assurant launched Pocket Geek Auto, a mobile app that can help dealers and clients connect with their customers. Then, the company introduced Automotive Training Academy by Assurant, its modernized and expanded automotive […] [Read More]

Mixed news on the fraud front recently surfaced, and not surprisingly, it’s tinged with pandemic impact New TransUnion research found instances of synthetic fraud and outstanding balances for suspected synthetic accounts at U.S. financial institutions have declined significantly after the World Health Organization (WHO) declared COVID-19 a global pandemic on March 11. However, new analysis […] [Read More]

An executive who spent nearly 20 years with a luxury OEM’s captive finance company now is part of the leadership team at Prestige Financial Services. On Friday, the affiliate of The Larry H. Miller Group of Companies named Bradley Bitner as director of finance to manage the company's financial analysis and reporting, support key initiatives […] [Read More]