Retail

The electric vehicle era is here, and when its effects trickle down to the used-car market, auto dealers will have to rethink everything from the ground up. That begins with this seemingly simple question: What do customers want in a pre-owned electric vehicle? A panel of experts took on that question in the “Customer Satisfaction Has Changed in the EV Era” session during the Used Car Week conferences in Scottsdale, Ariz., using questions asked by consumers as a guide ... [Read More]

When Shawn Vaughan looks at what’s ahead for the automotive market in 2024, he sees much uncertainty — about the economy, interest rates, politics. But there’s one thing he’s sure of. “Retail is back,” said Vaughan, president and CEO of Vaughan Automotive, which operates two Toyota dealerships in Houston and Boerne, Texas that retail some 1,500 units with annual sales of about $500 million. As the auto industry continues to evolve in the post-COVID era, many dealerships are having to ... [Read More]

CarGurus  has named Ismail Elshareef, a business veteran with more than 20 years experience in building consumer transaction products and value-added solutions for small and midsize businesses, as its new chief product officer. Elshareef will begin his new position Feb. 1. He’ll be responsible for leading CarGurus’ product strategy and roadmap with a focus on […] [Read More]

McGovern Automotive Group continued its growth Wednesday with its acquisition of Imperial Hyundai in Milford, Mass. The dealership, renamed McGovern Hyundai of Milford, is the company’s fourth dealership in Massachusetts. McGovern now operates 29 dealerships in New York, Massachusetts and New Hampshire. The acquisition is the fifth in the past six weeks for the rapidly […] [Read More]

Carvana is making a major move into Major League Soccer. The online used-vehicle retailer has joined MLS’s Chicago Fire FC as the club’s front-of-kit sponsor, with its logo to appear across the front of the home and away jerseys of the Fire’s first team, as well as its MLS Next Pro team and Chicago Fire […] [Read More]

We continue our series on the Auto Remarketing Podcast highlighting some of the panels and presentations from Used Car Week 2023. This episode features a conversation about the certified pre-owned market with perspectives from B. Miller of Cars.com, Nate Myers of the SONS Auto Group and Marc Riley of the Rick Case Automotive Group. Listen […] [Read More]

Hyundai Motor America has established a new division, with a new leader. Michel Poirier, formerly of Hyundai Auto Canada, has been named to the newly created position of vice president of aftersales and customer experience. In support of the company’s customer experience strategy, the new division includes both the retail and aftersales functions to streamline […] [Read More]

Carvana’s same-day delivery service is growing again. The nation’s largest online used car retailer has introduced its same-day delivery service into new markets in the South and Midwest over the past month. In November, Carvana introduced the service in the Atlanta, Dallas-Fort Worth, Tampa and Orlando areas. Monday, the company announced it has added same-day […] [Read More]

Penske Automotive Group’s presence in the U.K. widened considerably Monday with an agreement to acquire Rybrook Group Limited. The acquisition includes Rybrook’s 15 premium-brand dealerships in the U.K.: four BMW dealerships, four MINI dealerships, four Volvo dealerships, two Land Rover dealerships and one Porsche dealership. Three of the BMW locations also retail BMW Motorrad motorcycles. […] [Read More]

Carvana hosted institutional investors and analysts for a tour of its Inspection and Reconditioning Center (IRC) in Haines City, Fla. And according to Carvana’s recap of the festivities, the investment community liked what it saw. The online used-vehicle retailer said the event on Nov. 30 provided a real-time look at the company’s operational efficiency gains, […] [Read More]