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The four-acre, 93,000-square-foot Beverly Hills BMW has been sold for $70 million, an amount billed as the highest ever paid to acquire a Los Angeles auto dealership.
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Private equity firm Abry Partners has agreed to acquire F&I products and reinsurance programs provider Portfolio from Capital Z Partners.
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EFG Companies announced the launch of Motorist Assistance Plan, an exclusionary vehicle service contract designed specifically for buyers of electric vehicles.
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Axiom has named F&I industry veteran Susan Johnson as executive vice president in charge of full-cycle product development and administration initiatives.
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Members of Generation Z reported visiting an average of 3.8 dealerships on their car-buying journey in an Urban Science poll, which found the majority of U.S. consumers still lean on dealerships for critical information — and test-drives.
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Steven E. Starks, president of the Utah Jazz and LHM Sports & Entertainment, has been named CEO of the Larry H. Miller Group of Companies.
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Axiom’s Revolution Series of F&I products has expanded to include Revolution Technology, Revolution UltraLux, and Revolution Electric.
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Jim Maxim Jr. and Imran Mussani have assumed new roles at RouteOne, completing a transition that began when the company acquired MaximTrak, the technology firm Maxim co-founded, in 2016.
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The average interest rate for a U.S. new-vehicle loan fell below 6% for the first time all year as automakers and dealers extended model-year selldown promotions.
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July deliveries increased 1.3% in the first monthly U.S. new-vehicle sales report to include none of the Detroit 3 automakers, but the seasonally adjusted annualized rate fell below 17 million for the fourth time this year.
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