Large dealer groups have long been spending money to acquire new dealerships – that’s how they became large dealer groups in the first place. Now, though, they’re directing some of that money in another direction by investing in companies that create technology designed to help those dealerships succeed. Three dealer groups — Mills Automotive Group, […] [Read More]

While car shoppers find buying a new car quite easy, they still find the process is taking too long, according to the latest research by CDK Global. The company’s latest Ease of Purchase Scorecard found that 83% of the consumers surveyed said it was easy to buy a car, but their satisfaction fell sharply — […] [Read More]

Online used-car retailer Carvana has adopted a Texas Department of Motor Vehicles tool designed to make the car-buying process more efficient. The electronic odometer and sales disclosure process is available through TxDMV’s webDEALER system. Carvana, the largest auto dealer to adopt the e-odometer process in Texas, said the e-odometer feature has helped it eliminate unnecessary […] [Read More]

Hertz is looking for a new leader. Paul Stone will step down as Hertz’s chief operations officer and president effective Sept. 30 to “pursue opportunities in the retail sector, where he began his career,” the rental car giant announced today. Stone will remain with the company through the end of October to assist with the […] [Read More]

Auto Lenders, an independent, family owned used-car retailer with nine locations in New Jersey and Pennsylvania, announced plans on Tuesday to open a showroom in Florida. The operation’s newest location in Palm Harbor is scheduled to open Oct. 2. The Tampa-area store, which was formerly a Honda dealership, is expected to have between 300 and […] [Read More]

Fox Motors announced it has acquired Kia of Grand Rapids North from Alabama-based Liechty Auto Group. The purchase gives Fox Motors 18 locations in West Michigan among its total of 45 rooftops in Michigan and Illinois, representing 47 automotive and powersports brands. It’s the fifth dealership added to the company’s portfolio this year, including a […] [Read More]

Off Lease Only, a Florida- and Texas-based used-car retailer whose stores were previously was among the leading used-car dealers in the country, has voluntarily filed for Chapter 11 bankruptcy and is closing its stores amid an auto retail environment it says has been “deteriorated” by scarce supply, price inflation and lack of demand and affordability. […] [Read More]

As demand for electric vehicles slows while inventory rises, the Chicago Automobile Trade Association is bringing back an event to give consumers a chance to experience an EV for themselves. The Chicago area’s new-car dealer association and producer of the Chicago Auto Show announced the return of Chicago Drives Electric, an event that seeks to […] [Read More]

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]