The big just got bigger. A lot bigger. Asbury Automotive Group, one of the America’s largest automotive retail and service companies, announced Friday morning it has signed a definitive agreement to acquire Jim Koons Automotive Companies, the ninth-largest privately-owned dealership group in the U.S. The transaction — for a purchase price of approximately $1.2 billion, […] [Read More]

The auto dealership buy/sell market continues to gain momentum toward a record-breaking year, according to the latest data from Kerrigan Advisors. Kerrigan’s Blue Sky Report for mid-year 2023 showed 211 transactions representing 357 franchises were completed in the first half of the year. That’s up 26% from 2022, a faster pace than the typical full-year […] [Read More]

Brooklyn N.Y., dealer group Plaza Auto Mall surpassed a milestone last week during its annual Backpack Giveaway and Fun Bash. During the event, held Aug. 31 at the dealership’s location on Nostrand Ave., the Plaza Auto Mall team distributed more than 650 backpacks filled with essential school supplies to support local families in need. That […] [Read More]

Asbury Automotive Group, one of the nation’s largest automotive retail and service companies, is among the automotive entities named by Newsweek as one of America’s Greatest Workplaces 2023. “This award not only acknowledges our efforts in fostering a positive and enriching work environment but also highlights the commitment and dedication of every member of our […] [Read More]

Carvana’s campaign to codify digital auto sales and other automotive transactions into state law has recorded another win. The online used car retailer announced Oregon Gov. Tina Kotek has signed legislation that directs the Oregon Department of Transportation to adopt rules permitting vehicle dealers and financial institutions to electronically transmit documents related to vehicle ownership, […] [Read More]

Former Porsche Cars North America president and CEO Kjell Gruner has joined electric vehicle manufacturer Rivian Automotive as chief commercial officer and president of business growth, Rivian announced Friday. Gruner reports directly to Rivian founder and CEO RJ Scaringe and oversees the company’s commercial functions, including sales, marketing, customer care, delivery, service and fleet. Before […] [Read More]

Castle Automotive Group increased its presence in the Chicago area with the acquisition of Pugi Auto Group from Dominic Pugliani. The addition of Pugi’s Hyundai, Genesis, Mazda and Volkswagen dealerships in Downers Grove, Ill., gives Castle 26 new car franchises and 18 locations in Illinois and Northwestern Indiana, as well as its first franchises with […] [Read More]

This week, electric utility Duke Energy unveiled an unveiled an EV charging subscription pilot program that will allow North Carolina consumers to pay a flat monthly fee to power home chargers for electric vehicles. The next day, automaker Stellantis announced its latest partnership to provide EV charging infrastructure to help prepare its dealers for selling and servicing EVs. Bob Glaser, president of the North Carolina Automobile Dealers Association, said he is 100% on board with both of those moves. “We are very excited about the thought of ... [Read More]

A central part of Carvana’s business model will soon be officially legal in Illinois. This week, Gov. J.B. Pritzker signed legislation that clarifies the state’s law governing auto sales by specifically allowing electronic signatures during the sale and home delivery of vehicles to buyers. The bill, backed by a Carvana-led coalition and introduced by State […] [Read More]

NCM Associates has hired Fleming Ford as director of talent solutions, the company announced. The provider of dealership training and consulting said Fleming will take the lead in designing and implementing leadership development and executive coaching programs for NCM’s suite of products and services. “This marks a significant step forward in empowering progressive leaders with […] [Read More]