Lithia to buy Pendragon"s UK dealerships, take stake in DMS
Lithia Motors plans to not only make a significant dealership acquisition in the United Kingdom. Its pending deal also includes a fleet management platform and an ownership stake in Pinewood Technologies, which plans to bring a dealership management.....»»
F&I tip: CarShield case a reminder to make sure customers understand service contracts
There's a lesson for dealerships in the $10 million CarShield settlement with the Federal Trade Commission, says Zeigler Auto Group COO Sam D'Arc: Make sure staff can explain what customers are buying......»»
Scott Painter, TrueCar"s co-founder, reworks follow-up Autonomy
Autonomy is launching Autonomy Data Service, a platform for car dealerships and others that want to establish their own subscription service......»»
Open Road Capital adds five dealerships in two deals
Retail auto investment firm Open Road Capital and Jesse Hord bought four New York dealerships, while Open Road expanded on the West Coast in a new partnership......»»
Rhode Island dealerships settle deceptive sales claims for $1 million
Six Rhode Island dealerships have settled with the state attorney general over allegations of deceptive sales practices......»»
Coulter Motor Co. settles vehicle pricing add-ons case with FTC, Arizona for $2.6 million
The owner of dealerships Coulter Cadillac Tempe and Coulter Buick GMC Tempe and a former general manager of the stores have agreed to pay a combined $2.6 million to settle allegations of bait-and-switch advertising, price discrimination and improper.....»»
Lawsuit accuses Stellantis, Maserati of blocking sale of N.Y. dealerships
Dualed Alfa Romeo and Maserati dealerships in Great Neck, N.Y., have sued Stellantis and Maserati North America for denying an application to transfer the franchises......»»
Solera Auto Finance bought by managers, Obra Capital; now called Arra Finance
Solera Auto Finance's leadership has purchased the lender in a management buyout with partner Obra Capital and renamed the company Arra Finance. It will write subprime auto loans at new- and used-car dealerships......»»
AutoCanada considers selling U.S. stores, reports data breach and $24 million Q2 loss
AutoCanada is exploring the sale of its U.S. dealerships and other “non-profitable and non-core assets,” as the company swung to a loss for the second quarter amid falling sales, a significant used-vehicle inventory writedown and fallout from the.....»»
Private equity firm buys auto retail ID check, remote notary provider Mavsign
Maverick Document Signings, which provides remote notary and identification verification services to car dealerships, has been purchased by private equity firm 1876 Partners, Colonnade Securities said......»»
Still-churning remnants of Tropical Storm Debby prompted Raleigh auto dealerships to move vehicles
Hanna Imports, a used-vehicle dealership in Raleigh, N.C., relocated around 200 vehicles ahead of the storm, General Manager Chris Selfani said......»»
Still-churning Tropical Storm Debby prompted Raleigh auto dealerships to move vehicles
Hanna Imports, a used-vehicle dealership in Raleigh, N.C., relocated around 200 vehicles ahead of the storm, General Manager Chris Selfani said......»»
More dealerships close as Tropical Storm Debby lingers over Southeast
One state auto dealer association leader said he was concerned about the slow-moving nature of the storm......»»
Asbury Automotive sells Colorado, Georgia Nissan car dealerships
Asbury Automotive Group Inc. sold one Colorado dealership and one Georgia store during the second quarter, the dealership group said in its earnings report Aug. 2. The locations have been renamed Alpine Nissan of Denver and Nissan of Cumming......»»
China"s Dongfeng in pole position to build an auto plant in Italy, report says
The Italian government could join Dongfeng with a minority stake in the investment which aims to set up a production hub for the whole of Europe......»»
Warren Buffett sells nearly half of Berkshire’s stake in Apple
According to filings published today, Warren Buffett’s Berkshire Hathaway sold nearly 50% of its stake in Apple during the second quarter of 2024, after the firm already trimmed their stake by around 13% in the first quarter. Berkshire Hathaway has.....»»
Lithia increases stake in Pinewood DMS company to more than 25%
Lithia Motors Inc. now owns more than a quarter of the U.K. dealership management system provider Pinewood Technologies following purchases of nearly 5 million shares in the months since its initial minority investment......»»
Lithia dealership sued after fatal Challenger test-drive crash
The daughters of a Texas motorist killed after her car was struck by a Lithia dealership's Dodge Challenger allegedly traveling at least 100 mph during a test drive have sued the store as well as the driver and salesman allegedly inside the muscle ca.....»»
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......»»
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.....»»
Lithia Motors promotes Adam Chamberlain to COO, Chris Holzshu still EVP
Lithia Motors promoted Chief Customer Officer Adam Chamberlain to COO and returned COO Chris Holzshu to solely an executive vice president role, the company said Aug. 1......»»