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Asbury Automotive has agreed to acquire the Park Place group of dealerships, adding 17 Texas rooftops and raising Asbury’s highline revenue to approximately 50% of its total.
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Former Allstate Dealer Services executive Michael Hurley has been named CFO and vice president of finance and planning for GSFSGroup.
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Former AutoNation and CarMax executive Troy Blackwell has been promoted to COO of NuVinAir less than four months after joining the company as a senior vice president.
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Concerns over the economy and political climate failed to discourage franchised and independent retailers surveyed for Cox Automotive’s latest Dealer Sentiment Index.
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F&I industry veteran Sherry Etheridge has joined TecAssured as director of client relations.
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iA Financial Group announced the acquisition of IAS, an F&I products and services provider that counts 4,300 dealers in all 50 U.S. states.
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Experian analysts say buyers of pre-owned vehicles accounted for 55.15% of all U.S. auto loan originations in the third quarter, a 2.4% year-over-year increase.
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National Auto Care announced the launch of NAC Connect, a new vehicle service contract that includes one year of free telematics service.
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Edmunds analysts say Black Friday promotions helped suppress new auto loan interest rates last month, registering a year-to-date low of 5.5% and an 8.3% year-over-year decline.
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Kelley Blue Book reports the average cost to buy a new vehicle was $38,393 last month, a 1% year-over-year increase restrained by frantic efforts to move 2019-MY inventory.
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