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Kelley Blue Book analysts say the average new vehicle transaction climbed to $38,259 in October, a slight decline from the prior month but 2.9% higher than a year ago.
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Former Walser Automotive Group executive Amber Reddin has joined Mezen Dealer Services as an F&I development manager.
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Amir Bakhtiari will spend 54 months in federal prison and faces deportation to Iran after pleading guilty to embezzling $6 million by paying phony advertising invoices and unearned bonuses.
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Fiat Chrysler and PSA Group have agreed to join forces to create the world’s No. 4 automaker in a $48 billion deal designed to save the factories billions in research and development costs.
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The Federal Reserve has announced its third interest rate reduction since July, this time excluding language committing the central bank to action in support of economic expansion.
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Bloomberg reports Fiat Chrysler and PSA Group, which includes the Peugeot, Opel, and Citroen brands, could announce a merger as soon as this week, a deal that would form a General Motors-sized factory.
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A group of U.S. Porsche dealers is piloting the German factory’s first-ever online sales and financing option, designed to limit the customer’s dealership experience to final signatures and delivery.
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Cox Automotive announced the promotion of Holly Capps to senior vice president of Manheim sales, where is she is expected to prioritize a stronger alignment among sales teams.
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TechCrunch reports Fair CFO Tyler Painter, brother of CEO Scott Painter, and 40% of the vehicle subscription service’s staff have been let go. The moves cast doubt on the disruptor’s viability in an increasingly inhospitable startup market.
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Wages continue to rise for workers at U.S. new car dealerships, who earned an average of $72,800 in 2018, according to a midyear NADA Data report.
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