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The Biden Administration is taking the first steps that could lead to the banning of connected cars from China. The U.S. announced on Feb. 29 that it is opening an investigation into whether Chinese vehicle imports pose national security risks and could impose restrictions due to concerns about connected car technology. According to U.S. official, […]
New-vehicle sales are projected to be better than expected for February. Cox Automotive is projecting when numbers are announced next week it will show gains over last year and improvement from January, which came in slower than expected. Sales volume for February is expected to reach 1.22 million units, an increase of 6.3% over February 2023, […]
Two of the leading auto dealerships made significant dealership acquisitions this week. Group 1 Automotive, Inc. on Feb. 26 announced the acquisition of Newport Lexus and Tustin Lexus, two high performing Lexus dealerships in Orange County, CA. That was followed the next day by Lithia & Driveway (L&D) purchasing the Carousel Motor Group, growing their footprint in the […]
In today’s competitive market, car dealerships search for effective ways to capture attention. Many dealerships focus on advertising through Facebook and staying active on Instagram while often neglecting the potential of TikTok. However, TikTok’s unique appeal and wide reach make it an advantageous platform dealerships should consider utilizing. This article explains the special features of […]
In November, UAW leadership successfully ratified a new 4½-year contract with Detroit’s Big Three—Ford, GM and Stellantis—after six weeks of targeted strikes that stopped production in the most profitable plants for all three manufacturers and expanded to include 45,000 UAW workers at its peak. The deal will collectively cost billions in increased labor costs over […]
With the Federal Trade Commission’s (FTC) Combating Auto Retail Scams (CARS) Rule slated to go into effect this year, a recent poll showed over a third of Americans have experienced the practice the law is looking to combat. KPA, a leading provider of compliance solutions for over 15,000 U.S. automotive dealerships, announced the results of its […]
U.S. dealership numbers rose in 2023, according to a recent report from Urban Science. Urban’s Automotive Franchise Activity Report (FAR) found at the end of last year there were 90 more dealerships in the U.S. compared to year-end 2022—18,347 in 2023 compared to 18,257 in 2022. But there was a notable downturn inside the numbers […]
Carvana posted its first-ever annual profit on Feb. 22 in the aftermath of a deal with bondholders last year to cut its outstanding debt by $1 billion. The company forecast an adjusted core profit for the first quarter “significantly above” $100 million, according to CNBC report. Ernie Garcia, Carvana Founder and CEO, said that 2023 was […]
Celebrations are in full swing at Ken Garff Automotive Group as Keylee Melling won a 2024 Nissan Sentra at its “Threes for Keys” contest held during the Utah Jazz game held Feb. 22. The first female to win a Ken Garff car at the “Threes for Keys” contest, Melling demonstrated skill and precision by making […]