I recently saw a news story in the Austin American-Statesman that caught my attention because it affects the dealership service lane. In Austin, amateur mechanics have taken over an Auto Zone parking lot and, for a couple of hundred dollars, will fix vehicles, the Statesman reported. They look over the vehicle, determine what needs fixing […] [Read More]

Roughly three months after receiving an offer from an investor group, Penske Automotive Group is officially going private. The dealer group said Thursday it has entered into a merger agreement to be taken private by Motown Acquisition Corp., an entity owned by Penske Corporation and Mitsui & Co, Ltd. – the retailer’s largest stakeholders. Penske […] [Read More]

In recognition of Breast Cancer Awareness Month, Step One Automotive Group is running its annual Drive Out Breast Cancer campaign throughout October. The Florida-based dealer group’s pink Jeep Grand Cherokee will make stops at Step One locations and community events this month, where visitors can add their signature to the Jeep. For each signature collected, […] [Read More]

These days, dealers don’t just sell cars. They provide mobile services. They’re social media influencers and content creators. They’re entrepreneurs and investors in business ventures outside the dealership lot. They build technology. They find a niche in the market, like used electric vehicles, and focus on being an expert-led specialty boutique. Auto Remarketing and Used […] [Read More]

The O’Brien Auto Team has expanded its presence in Kentucky, acquiring Jack Kain Ford in Versailles, Ky., according to a news release from Performance Brokerage Services, which advised on the sale. In a statement on behalf of the Kain family, Bob Kain said, “After 67 years as a family-owned dealership, making the decision to sell […] [Read More]

Here’s why understanding the buyer’s perspective can make a dealership transaction more successful. Reflecting on the many M&A transactions I have had the privilege of leading to successful closing, I have learned that what initially appears to be an immovable point of contention is not always as consequential as it seems. What one party considers […] [Read More]

Dealers aren’t asking consumers to shell out quite as much on pre-owned vehicles in October as they were just a month ago. Average asking prices for used vehicles listed dealerships in the U.S. as of Saturday were down 2.5% from four weeks prior, with nearly three fifths of vehicles showing price cuts exceeding 0.5%. That’s […] [Read More]

The Mountain West has added two new members in Idaho. But we’re not talking college football realignment. Young Automotive Group has sold its Young Chrysler Dodge Jeep Ram and Young GMC dealerships in Burley, Idaho, to Mountain West Auto Group. That’s according to a news release from Performance Brokerage Services, which advised on the sale. […] [Read More]

Enforcement officials hunting for allegedly deceptive sales practices in automotive haven’t been limiting their targets to dealerships and vehicle retailing like the Federal Trade Commission’s ongoing efforts. A recent settlement involving the Pennsylvania attorney general showed that it’s happening in the car-repair industry, too. Pennsylvania attorney general Dave Sunday recently announced a six-figure settlement with […] [Read More]

Lithia & Driveway made a “CPO” move of a different sort on Tuesday. The auto retailer has named Katie Macaddino as its chief people officer, a role in which she will continue leading Lithia’s global People & Culture organization and serve on the dealer group’s senior leadership team. Macaddino will oversee people strategy, culture, leadership […] [Read More]