The Courtesy Automotive Group has acquired Watson Chevrolet and Infiniti of Tucson in Tucson, Ariz., according to a news release from Pinnacle Mergers & Acquisitions. Pinnacle represented the seller in the transaction, which closed on Aug. 31, and was led by Bill Scrivner, founder and CEO of Pinnacle Mergers & Acquisitions. Following the acquisition, the […] [Read More]

The Costco Auto Program has launched a new offering that may help drive more affordability-minded shoppers to certified pre-owned Volvo vehicles. The Certified by Volvo special is providing savings for Costco members on model-year 2023 through 2025 CPO vehicles from Volvo. In a deal that started Tuesday and runs through Nov. 2, eligible Costco members […] [Read More]

A Harvard business student and former advertising art director at General Motors released a research paper last month with car dealership ad spend in mind. Automotive Retail Advertising in Crisis: Overlooked Liquidity Lever, which was published by Andrew Reutsky on Aug. 12, reports the first field deployment of Banner-VIN-Profit, which is an open-source attribution model […] [Read More]

Asbury Automotive Group has named a new senior vice president and chief human resources officer. Wendy Reynolds-Dobbs, who is currently Asbury’s interim chief human resources officer and vice president of talent development and chief culture officer, will begin that new role on Sept. 14. Reynolds-Dobbs joined Asbury in May 2022. Her prior roles include serving […] [Read More]

Why does one dealership command a significantly higher blue sky multiple than another, even when both operate under the same franchise? The answer is multi-dimensional and extends far beyond profitability alone. Blue sky represents the goodwill component of a dealership’s value, the premium a buyer is willing to pay above the value of its tangible […] [Read More]

Fletcher Jones Automotive Group has completed its exit from Northern California with the sale of Porsche Walnut Creek to Sonic Automotive, according to a news release from The Presidio Group, its advisor on the sale. “In recent years, we’ve taken steps to hone our dealership portfolio to focus on the markets that best align with […] [Read More]

Lotlinx chairman and CEO Len Short firmly believes car dealers are the most resilient operators in any business. During this episode of the Auto Remarketing Podcast, Short explained why he is anticipating dealers showing that resilience again because it’s needed in today’s car business. Lotlinx is seeing used- and new-car inventory levels rising and pageviews […] [Read More]