SCI MarketView changes brand, names new president

Tuesday, Sep. 14, 2021, 05:56 PM MARKHAM, Ontario –  SCI MarketView changed its name to taq Automotive Intelligence this week, which it describes as a move related to the ever-evolving automotive sales market and digital sales strategy.  The move reflects the company’s “evolution towards reinventing automotive sales and purchasing.”  “From our roots as SCI MarketView, we are driven by the idea to continuously modernize the customer buying journey,” chief executive officer Alan Bird said in a news release. “With decades of knowledge and experience, an innate understanding of the value of data, and… Read More »SCI MarketView changes brand, names new president

ADESA adds OBD2 emissions codes to condition reports

CARMEL, Ind. –  ADESA announced Tuesday it has added OBD2 emissions codes to the condition reports of vehicles inspected at its locations. The auction company has streamlined OBD2 (onboard diagnostic II) scans through a new process, meaning inspections at ADESA vehicle logistics centers will include emissions codes more clearly displayed on condition reports moving forward. OBD2 represents a standardized system onboard car computers used for self-diagnostics and reporting. The company said the codes will now be directly added from the scan at the point of inspection and displayed on ADESA condition reports, and… Read More »ADESA adds OBD2 emissions codes to condition reports

While Q3 dealer sentiment dips, index remains above 2020 & 2019 readings

ATLANTA –  Being the music aficionado he is, perhaps Cox Automotive chief economist Jonathan Smoke might recommend the 1980s hit song by Matthew Wilder titled “Break My Stride” to summarize the most recent Cox Automotive Dealer Sentiment Index (CADSI). Even as tight vehicle inventory continues to vex the industry, store managers and principals still might be singing, “Ain’t nobody goin’ to break my stride,” as Cox Automotive discovered U.S. dealer sentiment in the third quarter softened a bit, but remains mostly positive and above levels recorded in Q3 2020 and Q3… Read More »While Q3 dealer sentiment dips, index remains above 2020 & 2019 readings

Dealer group roundup: Lithia expands to ATL, Asbury sells BMW store & more

CARY, N.C. –  Lithia & Driveway announced two purchases Tuesday, one of which gives the company a presence in one of the largest markets in the Southeast: Atlanta. The retailer said it has acquired Curry Honda in Chamblee, Ga., giving Lithia its first store in the Peach State. Additionally, Lithia bought Orange Coast Chrysler Jeep Dodge Ram in Costa Mesa, Calif. Jon Gray, who is a prior national dealer chairman of what is now known as the Stellantis National Dealer Council, will remain head of the Orange Coast store. Lithia anticipates… Read More »Dealer group roundup: Lithia expands to ATL, Asbury sells BMW store & more

6 tips to spot Hurricane Ida-damaged vehicles

LONG BEACH, Calif. –  Experts from AiM Mobile Inspections are seeing history repeat itself. And it could mean even more headaches for independent and buy-here, pay-here dealerships already having trouble finding inventory. AiM Mobile Inspections is spotting flood-damaged vehicles surface because of Hurricane Ida that left a destructive path stretching from the Southeast to the Northeast, beginning on Aug. 29 when it roared in from the Gulf of Mexico. “It’s like 2011 all over again with flood-damaged vehicles trickling into the used-car marketplace, except this year has been especially tough on… Read More »6 tips to spot Hurricane Ida-damaged vehicles

motormindz hires Jason Stein as new president

 motormindz — an automotive venture consultancy — has chosen a well-known automotive journalism veteran and SiriusXM host as its new president and corporate development officer. The new hire is Jason Stein, current host of the satellite radio giant’s “Cars & Culture with Jason Stein” and former publisher of Automotive News.  According to the company, Stein, who is joining a team of 120 executive-level subject-matter experts across 32 countries, will work to expand motormindz’ global footprint and assist in the launching of its venture fund — designed to “identify and accelerate” business solutions for the automotive industry.  “Jason Stein brings a… Read More »motormindz hires Jason Stein as new president

Vroom names former Stoneridge executive as new CFO

NEW YORK –  Online vehicle sales platform Vroom has chosen a new chief financial officer to oversee financial reporting, accounting, tax, treasury, risk management and financial planning and analysis, as well as leading investor relations for the company. Robert Krakowiak is the company’s new CFO, andwas formely in the same role at Stoneridge Corp., a designer and manufacturer of electrical and electronic systems focused on the auto industry.  “I am excited to step into the CFO role at Vroom and continue to help the company execute its strategic plan, accelerate its growth and deliver… Read More »Vroom names former Stoneridge executive as new CFO

AutoCanada adds Montreal’s Autolux to Collision Center lineup

Dealer group giant AutoCanada has purchased a new collision center in Montreal. Its new addition — Autolux MB Collision — is a luxury-brand certified Mercedes-Benz collision center with over 30 years of experience in its market.  “The addition of this high-quality collision centre is another step towards our goal of filling out our national collision center footprint,” said executive chairman Paul Antony, in a press release. “We strongly believe in supporting our customers and OEM partners through the entire vehicle ownership lifecycle — including collision repair. Increasing vehicle complexity puts a further emphasis on fixing vehicles… Read More »AutoCanada adds Montreal’s Autolux to Collision Center lineup

Group 1 to buy Prime Automotive Group for $880M; LMP announces 2 deals

CARY, N.C. –  Two of the nation’s publicly traded dealership groups announced respective acquisitions Monday, including one with a price tag in the hundreds of millions of dollars. Group 1 Automotive has entered a deal to buy Prime Automotive Group’s 30 dealerships and three collision centers in a deal that’s expected to be for $880 million. Meanwhile, LMP Automotive Holdings has reached a deal to acquire an 85% stake in Alan Jay Automotive Network. That transaction, which includes the associated real estate as well, has an aggregate purchase price of roughly… Read More »Group 1 to buy Prime Automotive Group for $880M; LMP announces 2 deals

Used Car Week announces 2021 industry partners

CARY, N.C. –  Used Car Week, which is set for Nov. 15-18 at Red Rock in Las Vegas, is proud to announce its 2021 industry partners. These organizations are: National Auto Auction Association National Independent Automobile Dealers Association National Automotive Finance Association American Recovery Association Receivables Management Association International “Used Car Week is designed to cover the entire ecosystem and lifecycle of the used-vehicle market, from retail and auto finance to repossession, recovery, remarketing and everything in between,” Used Car Week chair and Cherokee Media Group president Bill Zadeits said. “There’s… Read More »Used Car Week announces 2021 industry partners