Casa Auto buys 4 New Mexico dealerships
Casa Auto Group, of Texas, bolstered its presence in nearby New Mexico with the September purchase of four dealerships......»»
Audi and Costco Auto Program bring back new-vehicle incentives
Audi and Costco Auto Program brings back new-vehicle incentives with three incentives available: $1,000, $1,500 or $3,000......»»
Tropical Storm Debby brings heavy rain, wind to Florida, Southeast auto dealers
Debby made landfall in Florida as a Category 1 hurricane early Aug. 5. It's expected to bring heavy rain, flooding and gusty winds to the Southeast through midweek......»»
First 3D visualization of an aluminum nanocomposite for the auto industry
Manufacturing cars with strong, lightweight aluminum alloys rather than steel could improve fuel efficiency and extend electric vehicle range, but the material's instability at high temperatures has held the alloys back from widespread adoption......»»
Gulf of Mexico "dead zone" larger than average, scientists find
NOAA-supported scientists have announced that this year's Gulf of Mexico "dead zone"—an area of low to no oxygen that can kill fish and marine life—is approximately 6,705 square miles, the 12th largest zone on record in 38 years of measurement. T.....»»
GPB Capital founder David Gentile found guilty in Ponzi-like fraud that included dealerships
Gentile’s co-defendant, Jeffry Schneider, who ran Texas-based Ascendant Capital, also was convicted of securities fraud and conspiracy charges by a federal jury in Brooklyn, N.Y., following a trial that lasted more than seven weeks......»»
EVs are holding strong, but U.S. elections may rock the boat, report finds
The midyear Market Outlook Report from Dave Cantin Group and Kaiser Associates found that EV sales are starting to drive steady growth. Meanwhile, a volatile political landscape and Supreme Court decisions complicate auto industry plans......»»
Group 1 finalizes acquisition of Inchcape; adds 54 U.K. dealerships to its portfolio
Group 1 Automotive Inc. has finalized its acquisition of global automotive group Inchcape, which has 54 U.K. dealerships. The acquisition was announced April 15; Group 1 paid $439 million in cash. It is expected the acquisition will add $2.7 billi.....»»
Mobileye slashes annual forecasts on uncertain demand; shares fall
Mobileye Global cut its annual revenue and profit forecasts on Thursday, slammed by volatile demand for its driver-assistance chips in China, even as it recovered from a sales slump brought on by a global auto inventory glut......»»
Dealerships warned about phishing scams tied to global cyber event
Two cybersecurity consulting firms are warning dealerships about scams relating to CrowdStrike's catastrophic software update on July 19......»»
Auto suppliers continue to face worker shortage and high costs
The Federal Reserve indicated labor supply and demand are in sync in the U.S. economy for the first time in years. But suppliers are still lagging behind......»»
Credit Acceptance posts Q2 net loss of $47.1 million as auto lender revamps cash flow forecasting
The average Credit Acceptance second-quarter auto loan financed $26,816 in principal and interest, paid the dealership a $12,278 advance and was slated to run for 61 months......»»
Starling Automotive buys 3 dealerships, adds brands
Starling Automotive Group expanded in a spring acquisition, buying its first non-General Motors dealerships......»»
CarShield, American Auto Shield to pay $10M in settlement on false advertising claims
The FTC said the companies' celebrity endorsers made false statements in ads and/or have not used the service contract products. Contracts also do not cover all repairs as stated in the ads, the FTC said......»»
Penske Automotive Q2 net income falls 20% on higher interest costs
Penske Automotive Group net income dropped in the second quarter, though the auto retailer posted record second-quarter revenue of $7.7 billion......»»
Owner of Nashville auto business indicted on felony tax evasion and theft
Owner of Nashville auto business indicted on felony tax evasion and theft.....»»
Asbury: Tekion DMS pilot in Ga. might get pushed to October over CDK dispute
Asbury Automotive Inc.'s dispute with CDK Global over data access might delay the national dealership group's plans to test Tekion at four Georgia dealerships by a month, Asbury told a Georgia court last month......»»
BYD preparing to enter Canadian EV market, documents show
Joe McCabe, CEO of AutoForecast Solutions, said the U.S. auto market is BYD’s “holy grail,” but the company is likely to use both Canada and Mexico as “ports of entry.” .....»»
Asbury, CDK locked in legal fight over data control ahead of Tekion pilot
Asbury Automotive has sued CDK Global and sought an injunction compelling the release of four dealerships' data so Asbury could pilot Tekion's DMS software at the locations, accusing CDK of "holding its data hostage." .....»»
It Looks like Xiaomi’s SU7 is Selling Well
Xiaomi nears its ambitious year-end goal. The post It Looks like Xiaomi’s SU7 is Selling Well appeared first on Phandroid. Following its debut into the EV market a while back, smartphone (and now auto) manufacturer Xiaomi stated that.....»»
Former dealer Joe Maus returns to auto retail with Chevrolet store
Former auto dealer Joe Maus purchased a Chevrolet dealership in South Carolina, his first acquisition after selling his stake in other stores the past few years......»»