Larry Van Tuyl is up to his old tricks: acquiring dealerships. The CEO of VT Companies has purchased Groove Toyota in Englewood, Colo., from Summit Automotive Partners, according to Pinnacle Mergers & Acquisitions, which brokered the deal. The dealership, which will retain the Groove name, is Van Tuyl’s first in Colorado. His current operation, Visionary […] [Read More]

The National Automobile Dealers Association, which is set to host its annual NADA Show convention this month in New Orleans, released a statement Wednesday following the terrorist attack on Bourbon Street in the city’s French Quarter during the wee hours of New Year’s Day. The trade association is working with city officials and law enforcement […] [Read More]

One thing that never changes in the used-car business is change. Which means dealers must always be ready to adapt. That, of course, includes the certified pre-owned sector. The supply of used vehicles suited for certification is shrinking. Costs have risen for both new and used cars, making affordability a critical issue for consumers. And the rise of used electric vehicles begs the question of how they can find a way into the CPO mix. During Used Car Week 2024 in Scottsdale, Ariz., four industry experts assembled to discuss those issues, their effect on the CPO sector and ways dealers and other stakeholders can ... [Read More]

It’s been almost 30 years since Lexus launched the industry’s first certified pre-owned program, during which CPO has grown into a strong and important sector of the used-vehicle market. But after all those years, car dealers are still learning and finding better ways to sell customers on the CPO experience. In a panel session during Used Car Week 2024 in Scottsdale, Ariz., titled “Best Practices from Best CPO Dealers,” moderator B. Miller of Cars Commerce asked four dealers to discuss what they’re doing at the dealership to give car shoppers confidence about buying a CPO vehicle ... [Read More]

If it seems you can buy anything on Amazon, well, that just got one step closer to reality. Now you can buy a car on Amazon. Specifically, vehicle shoppers in 48 U.S. cities can now order, finance and schedule pickup of a new Hyundai from a local participating dealer directly from the Amazon platform. The […] [Read More]

A very special Toyota Camry was sold this month. The Supersonic Red 2024 Camry, sold from Sheehy Toyota of Laurel in Laurel, Md., was the 8 millionth vehicle sold in the U.S. through Toyota’s certified pre-owned vehicle program. In a news release, Toyota Motor North America said its CPO program, Toyota Certified Used Vehicles, is […] [Read More]

The most American car on the market is electric — again. For the second year in a row, Tesla dominated the annual Made in America Auto Index, issued by American University’s Kogod School of Business. The EV brand claimed the top three spots in the rankings outright and had two more models tied for fourth. […] [Read More]

The auto dealership buy/sell market rose to another record high in the first nine months of 2024, according to the Third Quarter 2024 Blue Sky Report by Kerrigan Advisors. With 330 dealership transactions representing 544 franchises sold — a 93% increase compared to pre-pandemic 2019 — the company said the market velocity was fueled by […] [Read More]

Auto dealers who add mobile service to their offerings are winning 92% of lost customers back to their service departments, according to data from mobile service technology provider Curbee. In a news release, Curbee said mobile service is a powerful tool for dealers to retain and regain customers by literally meeting them where they are. […] [Read More]

Odometer fraud is on the rise. Data from CARFAX showed more than 2.14 million cars on the road might have had their odometer rolled back in 2024, 82,000 more than last year and up 18% since 2021. The number of vehicles with rolled-back odometers rose this year in nine of the 10 states with the […] [Read More]