Morrie"s acquires 6 Wis. dealerships
Morrie's Auto Group acquired the dealerships from Brenengen Auto Group. The deal brings Morrie's footprint to 20 rooftops in Minnesota and Wisconsin......»»
Penske Automotive agrees to buy 15 premium brand dealerships in U.K. from Rybrook Group
Dealerships in the acquisition, if completed, would include four BMW, four MINI, four Volvo, two Land Rover and one Porsche. The stores generate about $1 billion in annual revenue......»»
Dealers see AI, ransomware attacks as cybersecurity threats in 2024
Stephen Gonzalez of CDK Global said that AI and ransomware will vex dealerships in 2024 as they seek to comply with the FTC Safeguards Rule......»»
New York dealerships team with CarEdge for sales event
The one-day event, which promised no hidden fees and that buying a vehicle would take no more than an hour, generated 13 sales for two dealerships on Staten Island......»»
Amazon will start selling cars, but you don’t get to ditch dealers just yet
Amazon has announced that it'll start selling cars directly on its website -- but don't expect this to be the beginning of the end for car dealerships......»»
Lithia, Ciocca, Gilchrist buy, sell dealerships in Q4 transactions
Three top dealership groups were involved in Q4 transactions, with five stores trading hands......»»
BlueVoyant acquires Conquest Cyber to help clients mitigate risks while meeting new requirements
BlueVoyant announced the acquisition of Conquest Cyber, a cyber defense company renowned for its innovative SaaS technology that streamlines risk management across an organization’s entire cyber program. Conquest Cyber has proven successful wit.....»»
Nearly 4,000 dealerships urge Biden to ‘slow down’ on EV push
In a letter sent Tuesday, the dealerships urged Biden to "slow down," citing an EPA proposal from April that could push battery-powered vehicles to 60 percent of new-vehicle sales by the 2030 model year and 67 percent by 2032......»»
Samsung’s Harman Brand Acquires Digital Music Platform Roon
This recent acquisition is geared towards Harman's ‘work with all’ strategy, which involves collaborating with several other audio brands. The post Samsung’s Harman Brand Acquires Digital Music Platform Roon appeared first on Phandroid......»»
2024 Toyota Tacoma"s wheels-up makeover comes with higher price
The redesigned 2024 Toyota Tacoma, arriving at dealerships in December, received a complete makeover with a more efficient powertrain......»»
Former Big Red Dealerships controller, compliance officer sentenced in auto lender fraud case
The two co-conspirators in the Big Red Dealerships scheme to defraud car lenders have each been sentenced in the case, one receiving nearly two years in prison and the other nearly three years......»»
LaFontaine Automotive sells two Stellantis dealerships in Michigan
LaFontaine Automotive plans to use capital gained from divestitures to add dealerships in targeted markets......»»
Rainbow PUSH scorecard ranks automakers on diversity efforts
Stellantis and Nissan each moved up two spots in the rankings of automakers' efforts to improve diversity in employment, advertising, marketing, procurement, dealerships and philanthropy......»»
McGovern Automotive, Swickard Auto among buyers of luxury, domestic dealerships in deals across 4 states
Two of the transactions included groups ranked on top dealerships list. One selling dealer plans to stay and help train the dealership's new owner......»»
Former Okla. Kia, Mitsubishi dealer gets nearly 11 years for fraud, tampering
U.S. District Judge Stephen Friot sentenced Bobby Mayes to 130 months in prison for defrauding car lenders at his Big Red Dealerships Group and a concurrent 65 months for tampering with his case after his conviction. He must also forfeit $1 million i.....»»
Nick Saban"s Dream Motor Group buys Mercedes-Benz stores in $700M deal
Dream Motor Group is looking to buy more dealerships in the South, CEO Joe Agresti said......»»
Genesis, BMW, Nissan and GMC dealerships among those sold across 4 states
The transactions involved a few first-time brand acquisitions and a dealer's retirement......»»
Dealerships set the bar high for going green
Garbage is a dirty word at Pellman's Automotive in Boulder, Colo., and the two Mark Miller Subaru stores in Salt Lake City — three eco-centric businesses that approach recycling with all the zeal and determination of a technician going after an ove.....»»
Ineos Automotive"s U.S. dealership network is private only
Ineos Automotive has 19 dealerships in the U.S., but none of the fledging automaker's stores are owned by a publicly traded auto retailer......»»
Chevy Equinox EV priced above $30,000 target
The first Equinox EV to reach dealerships will be priced at nearly $49,000. It will be followed later in 2024 by a $34,995 base model......»»
Fed leaves rates unchanged, acknowledges economy is "strong"
For the auto industry, interest rates were the top issue cited by franchised dealerships during the third quarter, identified by 65 percent of retailers, up from 61 percent a quarter earlier, according to a Cox Automotive Dealer Sentiment Index poll......»»