The deal includes four BMW dealerships — three of which also retail BMW Motorrad motorcycles — four MINI dealerships, four Volvo dealerships, two Land Rover dealerships and one Porsche dealership. Penske said the dealerships represent estimated annualized revenues of $1 billion.

“We are pleased to expand our brand footprint and increase our scale,” said Darren Edwards, CEO of Penske’s Sytner Group subsidiary in the U.K.

Penske announced its agreement to purchase the Rybrook Group last month.

Holman acquires NC dealer group

One of the nation’s largest privately-owned automotive businesses is now a lot larger.

Holman, which among its other enterprises operates 40 franchise dealerships nationwide, has reached an agreement to acquire Leith Automotive Group, owner of 30 dealerships in North Carolina.

According to Business North Carolina, Leith Automotive employs more than 2,000 people and has annual revenues of more than $1 billion. Last week, Vietnamese electric vehicle manufacturer VinFast announced Leith had signed on to become one of its first five U.S. dealers.

In a joint statement, Leith Automotive said the Leith brand and the company’s employees will be retained as part of the agreement.

“Over the past 56 years, the Leith family has built an incredible organization and a large, close-knit family of employee partners and Holman is committed to keeping the tradition of success moving forward,” the statement said. “This interfamily ownership transfer will be seamless to the Leith team, as well as to its large and loyal customer base, with the united Leith and Holman organization operating with shared best practices.”

Jim Price Chevrolet sale marks ‘end of an era’

Malloy Auto Group has acquired Jim Price Chevrolet in Charlottesville, Va., from Jim Price Auto Group, according to Kerrigan advisors, which represented the seller in the transaction.

Malloy, founded in 1992, operates seven dealerships in Virginia. Jim Price opened the Chevy dealership in 1968. His daughter, Sandra Price Amato, took over the operation in 2017.

“This sale of our Chevrolet dealership, the final of our three auto group franchises to sell, represents the end of an era, as well as a new beginning for the dealership and for our family,” Amato said.

The post Dealer news: Penske closes deal to acquire U.K.’s Rybrook Group appeared first on Auto Remarketing.

This episode features a dealer panel titled, “The Changing Used-Car Manager’s Role, and Now What?” The session was moderated by former dealer Kraig Quisenberry, who is now with ACV. The other participating dealers included:

Peter Hermes of DriveTime

Mark Weida of Street Smart Auto Brokers

Tony Lucas of Casa Auto Group

Nate Myers of SONS Auto Group

Nick Johnson of Penz Automotive

Tim Hlavenka of Rick Case Automotive Group

Lawrence Breaud of Autos of Forney

Listen to the episode in the window below.

The post USED CAR WEEK 2023 PODCAST: 7 dealers on evolving role of used-car managers appeared first on Auto Remarketing.

CarMax, one of the nation’s largest used-car retailers, announced a new commercial spot based around the much-maligned minivan, a vehicle that a few years ago was all but pronounced dead by USA Today.

But CarMax said its search data shows interest in minivans is alive and well — minivans were actually the company’s fastest-selling vehicle category from June to November 2023, reaching their highest sales volume in three years.

CarMax’s new ad plays on the demand for minivans by depicting a mother getting emotional about her son leaving the nest as she drops him off at college — until she gets an instant offer to sell her “mom van” to CarMax.

“Our car purchases often mirror the life stages we are entering and leaving,” CarMax said in a news release. “For Gen X parents preparing to send their kids off to college this spring, it might mean it’s time to ditch the family vehicle. And for millennial parents needing extra room, it might be time to trade in for a larger model. Call it the circle of car life.

“So, while the mom in our commercial is moving on, there are plenty other moms in a different life stage that are actively looking for this type of vehicle.”

CarGurus promotes ‘Your Car, Your Way’

CarGurus’ new brand campaign is called “Your Car, Your Way,” an extension of its 2023 “Get it With Gurus” campaign.

The new 2024 campaign illustrates the satisfying feeling of having everything happen exactly as you want it in buying or selling a car through CarGurus by showing what it might be like if you could have everything happen exactly as you’d want it in the rest of your life.

The spots emphasize the experience of drivers who are able to buy or sell a vehicle their way, whether that’s shopping online for the best deal from a dealership, receiving a competitive offer to sell an existing car virtually or financing online through CarGurus.

“We know consumer needs are evolving, with research showing a majority of car buyers and sellers are open to doing more online — but not necessarily everything,” CarGurus chief marketing officer Dafna Sarnoff said in a news release. “At CarGurus, we’re driven to transform what can be a tedious process into a delightful experience through omnichannel retail tools, transparent listing information and expert-informed reviews that put consumers in control while also enabling our dealer partners to better serve their customers.

“We love that this campaign captures how our platform can make you feel as that happens, and inspires viewers to feel supported in whatever path they choose.”

In the ad, a car shopper experiences a dreamlike sequence in which everything goes his way — like gliding over an otherwise painful children’s toy, landscaping with just the sip of a drink and enjoying a gourmet meal prepared by his toddler — to show what it feels like when shoppers “Get it with Gurus.”

“We all know the euphoric feeling of getting things exactly our way without compromise — a feeling that for most of us is all too rare,” said Sian Coole, creative director of DDB San Francisco, which developed the spots. “We wanted to show how CarGurus gives you that empowering feeling of control.”

CarGurus said its integrated campaign will run on TV networks and connected TV providers and will be supplemented with digital and social executions, including influencer programs.

In conjunction with the new brand campaign, CarGurus released its 2023 Shopping Your Way report, which includes new data on car shopping trends such as the most viewed new car listings, top wish-listed car models, most popular body styles, top viewed models by region and more.

The post CarMax, CarGurus launch new ad campaigns appeared first on Auto Remarketing.

This episode features a luncheon keynote presentation titled, “Biased for Action: Creating Success Through Adversity,” by Lindsay Ciavatonne of CarGurus.

Listen to the episode in the window below.

The post USED CAR WEEK 2023 PODCAST: Creating success through adversity appeared first on Auto Remarketing.

Previously, Fisker has sold its vehicles in the U.S. directly to consumers online and through its Fisker Lounges in Los Angeles and New York.

The company said it will pursue a hybrid of direct sales and dealer arrangements in European markets.

Chairman and CEO Henrik Fisker said the new sales models are a response to the rapidly changing EV market.

“As a high-growth startup, Fisker is transforming its strategic efforts by putting in place the brand accessibility and sales channels required to satisfy increasing demand for the Fisker Ocean and to prepare for launch of additional future models,” he said in a news release. “As a result, we are evolving our business model and intend to add as many as 50 dealer partners in the U.S. and Canada and a similar number of dealer locations in Europe this year.

“In keeping with our asset light strategy, I expect the dealer partnership model should enable Fisker to expand its sales and delivery network at a faster pace.”

The dealer partnership model combines Fisker’s goal of offering customers no-haggle-pricing where permitted while also providing dealers with large market territories, allowing them to maintain pricing without worrying about local competition.

The company said it has been in discussions with “numerous” potential dealers since late November.

Fisker expects its first dealers to begin receiving vehicles by the end of the first quarter.

The automaker said it does not plan to require its dealers to make extensive changes to their existing facilities, as it has developed corporate identity features that can be provide to dealer quickly in order to begin sales and service as soon as possible.

Fisker will continue to operate its Fisker Lounges in global markets, where customers can “experience the brand.” The company said it will contribute sales leads generated by the lounges to its dealers.

Fisker said it will work with dealers who “place a high emphasis on delivering excellent customer satisfaction, providing streamlined customer support and service and expanded test-drive opportunities as the range of Fisker models and trim levels expands.”

Dealers will also facilitate financing and insurance arrangements and assist customers with matters related to Fisker’s warranty.

The post Fisker introduces new dealer partnership model in ‘strategic transformation’ appeared first on Auto Remarketing.

NCM said in a news release the “strategic merger” represents a significant milestone in its growth and a step forward for both companies in delivering “a comprehensive range of solutions” to their clients.

NCM, which established the first automotive 20 Group in 1947, has partnered with Louisville, Ky.-based Kain Automotive for the past 15 years to provide training and 20 Group services.

NCM president and CEO Paul Faletti said the acquisition “elevates both businesses.”

“The existing collaboration has enhanced our collective training and 20 Group offerings to our clients and I’m excited about the achievements that lie ahead,” he said. “As we combine forces to drive excellence and innovation, we will continue to enhance our products and services to stay at the forefront of the industry.”

Kain Automotive president David Kain and his staff will join the NCM team and will continue to operate from their corporate office in Louisville. NCM said both organizations are committed to further expanding their training offerings in the auto industry and beyond.

“The opportunity for our company and team to become part of an organization that founded the principles of dealership collaboration and performance benchmarking is rare — and one worth taking,” Kain said.

“We have been fortunate to work with NCM for many years, and I have witnessed first-hand its commitment to our clients’ success. In this new structure of working together daily, we can further drive value to dealership leaders and managers.”

The post NCM acquires Kain Automotive in ‘strategic merger’ to grow dealer training appeared first on Auto Remarketing.

This episode features one of the sessions from Dealer Training Tuesday. Glenn Lundy of 800% Elite Auto explained the profitable journey dealerships can take during a session titled, “800% Growth Blueprint: Revitalizing Used Cars for Exponential Growth.”

Listen to the episode in the window below.

The post USED CAR WEEK 2023 PODCAST: Getting your dealership on 800% growth path appeared first on Auto Remarketing.

The company said Porter brings more than 25 years of “extensive, hands-on training and consulting experience in the automotive retail, wholesale and dealer wealth-building segments.”

Porter has worked with auto dealers nationwide to help drive sales and profit in variable operations. Brightline said he is an industry authority on “creating and facilitating actionable, current and compliant team training programs,” online and in-person.

“His entrepreneurial spirit, genuine, collaborative nature and deep industry experience make him an invaluable member of the Brightline team,” Brightline president and CEO Eric Dragoo said in a news release. “Joe is embedded in our industry at all levels. Because of this and his wealth of knowledge and expertise, he is the perfect leader to further enhance our best-in-class, dealer-centric training strategy.”

Porter’s experience includes positions with Gulf State Toyota and most recently American Financial Automotive Services (AFAS), in roles beginning with serving dealers in the store as a district manager as well as developing and delivering F&I sales and compliance training programs created to solve complex opportunities.

He has also consulted with minority dealer associations, including those for Ford and Chrysler, as well as state dealer associations, including North Carolina ADA and Texas ADA.

“I’ve been looking for an opportunity to provide this industry and its markets with the training they truly need to evolve and succeed,” Porter said. “I found it at Brightline. This company and its team members are that vessel.

“Coming onboard with Brightline is an opportunity I do not take lightly. I am humbled to be a part of this passionate group of professionals whose mission is to grow their dealer partners even if it means putting their dealers’ needs above their own.”

The post Brightline hires industry veteran Porter to lead its dealer training programs appeared first on Auto Remarketing.

Leith VinFast in Raleigh, N.C., Smith Haven VinFast in St. James, N.Y., Principle VinFast Grapevine in Grapevine, Texas, Hiley VinFast of Fort Worth in Fort Worth, Texas and VinFast Wichita in Wichita, Kan., have signed on with the automaker. They will begin selling the VinFast VF 8 all-electric SUV, with plans to add the VF 6, VF 7 and VF 9 models when they launch in the U.S. market.

VinFast had already been selling in the American market, operating 13 retail stores and service centers in California.

“This is an important step,” VinFast deputy CEO of global sales and marketing Tran Mai Hoa said in a news release, “affirming VinFast’s commitment to expanding its retail sales network and shortening the time to deliver our products to market.

“Collaboration with dealers allows VinFast to quickly bring U.S. customers high-quality electric vehicles, good prices and excellent aftersales policies, further promoting our mission of a sustainable future for all.”

In 2023, the company broke ground in Chatham County, N.C., for its first U.S. factory, which is scheduled to begin production in 2025.

Leith Automotive Group chief operating officer Danny Williams said he is “very excited” to be one of VinFast’s first American dealers and the first in North Carolina, “particularly alongside the VinFast’s groundbreaking automobile manufacturing plant.

“After interacting with VinFast’s executive team and experiencing their vehicles first-hand, we were captivated by the brand and knew it was a perfect addition to the Leith Automotive Group,” he said.

VinFast said it expects to expand its dealer network to 125 points of sale across the U.S.

The post Vietnamese EV manufacturer VinFast signs its first U.S. dealers appeared first on Auto Remarketing.

The post How dealer principal juggles dual roles, uses store as incubator to create fast-growing tech company appeared first on Auto Remarketing.