January 3, 2017 — Days prior to the opening of Detroit’s North American International Auto Show, Ford Motor Co.’s President and CEO Mark Fields dropped several bombshells outlining the automaker’s strategy the next three years. Addressing the media and UAW members at Ford’s Flat Rock, MI assembly plant, Fields announced the company is cancelling plans it… Continue Reading
January 2, 2017 — Beck Chevrolet scored another big legal win last week in its five-year battle with General Motors over how it measures sales effectiveness of its dealers and the decision could have a far reaching impact on the overall relationship manufacturers have with their dealers. The ruling last week by New York’s Second… Continue Reading
December 14, 2016 — The McLarty Automotive Group announced yesterday that it has completed the acquisition of five dealerships and two collision centers in Little Rock, AR from the Asbury Automotive Group. The acquisition brings Mark McLarty’s total to 19 dealerships — all acquired since 2014 — generating an estimated $1.4 billion a year in revenue.… Continue Reading
December 1, 2016 — The Penske Automotive Group (PAG) announced today it has acquired specialty automotive retailer CarSense from owner and founder Francis I. McGowen. CarSense has five locations in the Philadelphia and Pittsburgh markets specializeing in reconditioning and retailing high-quality, late-model used vehicles at no-haggle prices. Penske says the acquisition should add an estimated $350… Continue Reading
December 1, 2016 — Following a three year battle amidst tough opposition from car dealers in Virginia, Tesla Motors won the right to open a second store in the state. Tesla says it will begin construction on the store, which is slated for Richmond. It will be the second Tesla dealership in Virginia that is allowed to… Continue Reading
November 15, 2016 — UPDATED: Word is getting out that Scott Painter is soon to be back in the auto industry. His newest initiative is being called, “Fair.” The project has come up in a few conversations that we’ve had the last several months — mainly just cocktail reception gossip. Then, a couple of weeks ago over… Continue Reading
October 31, 2016 — Want to know how the consumer is going to react in an autonomous world? It’s all about the horses. Not horsepower, mind you, but actual horses. And therein lies the key for why private ownership will not only “survive, but thrive” in a world of autonomous vehicles, according to Beau Boeckmann, president… Continue Reading
October 6, 2016 — Lithia Motors announced this morning the acquisition of Audi Auto Gallery in Woodland Hills, CA, from co-founders Harrison Gray and Tony Schwartz. It is Lithia’s 18th dealership acquired this year. The additional $120 million in annual revenue created by the acquisition brings Lithia’s total to approximately $1 billion in acquired revenue this… Continue Reading
Various media reports last week confirm Cadillac is offering buyouts to 400 of its smallest dealerships. The news isn’t a surprise as we speculated numerous times since September 2014 that Cadillac Chief Johan de Nysschen would try to reduce the number of 925 Cadillac dealers down to 400 to 500 stores. The buyouts follow Cadillac’s…
September 18, 2016 — Let me introduce you to Carla, who likely will be a critical member of your BDC and customer support team in the near future. “She” is also a chatbot billed as being the customer’s friend who knows cars. Carla was designed by California-based startup firm CarLabs to assist people with anything… Continue Reading
