For longer than anyone can remember, Maurice VanCoillie had been selling cars in the Detroit area. In fact, he was such an institution there that in 2021, the city of St. Clair Shores, Mich., placed a historical marker at his dealership. But on July 18, VanCoillie, affectionately known to most everyone as “Mr. Van,” passed […] [Read More]

The Costco Auto Program is once again working with Volvo to provide Costco members with incentives on selected Certified by Volvo models. Costco held its first CPO promotion with Volvo in 2022, when members received a $1,250 member-only incentive on the purchase of 2019-2021 Certified by Volvo XC60 and XC90 models. This year the incentive […] [Read More]

ACMGMT LLC, led by Ali Ahmed, has purchased Sutherlin Nissan of Fort Pierce, Fla., from Sutherlin Automotive Group, George Chaconas of Performance Brokerage Services announced. The dealership, which has been renamed Nissan of Fort Pierce, becomes the 38th owned by ACMGMT, according to Performance Brokerage Services. Sutherlin Automotive Group was founded by George Sutherlin more […] [Read More]

The U.S. Department of Energy has selected J.D. Power’s EV Index, an analytics tool that monitors the growing electric vehicle market in the U.S., to help establish benchmarks and monitor ongoing development of EV infrastructure nationwide. DOE said the index, which tracks detailed data on EV infrastructure development and consumer experience with public charging networks […] [Read More]

Group 1 Automotive’s second quarter used vehicle business was “challenged,” said president and CEO Daryl Kenningham in the earnings call. The publicly listed auto retailer sold 46,764 used retail units on a consolidated basis in the second quarter, down 4.4% compared to the same quarter last year. Used vehicle gross profit per retail unit dropped […] [Read More]

Carvana announced it has raised $225 million through the issuance of approximately 4.9 million shares through its at-the-market equity offering program (ATM), fully satisfying the public equity requirement of its exchange offer transaction support agreement (TSA). The TSA, which was announced last week, provides significant financial flexibility to Carvana, including reducing required cash interest expense […] [Read More]

Sonic Automotive said Thursday it will be able to “turn the lights on” quickly at its shuttered EchoPark stores if used vehicle wholesale prices continue to drop and market conditions improve, company executives said in its quarterly earnings call. In June, Sonic suspended operations indefinitely at eight of its EchoPark used car stores, 14 related […] [Read More]

There is an abundance of new technology available to dealerships today, all designed to dramatically improve operations. But that technology is worthless if it isn’t used, or used improperly; and, too often, it is abandoned because of implementation challenges. At my dealerships, we have learned through long experience that teams will only truly adopt a […] [Read More]

Tackling the ongoing automotive industry challenge of finding and retaining qualified repair technicians is the focus of this episode of the Auto Remarketing Podcast, featuring Joe Atkinson and Kim Payne of Automotive Apprentice Group. The firm operates a program to create qualified auto technicians and connect them with a network of dealers and service centers. […] [Read More]

Inventory is very much on the minds of independent auto dealers. When asked by Auto Remarketing at the recent NIADA Convention and Expo about the biggest challenge they face in today’s used car market, dealers said the low availability and high cost of used vehicles was driving their expenses up and potentially costing them customers. […] [Read More]