The modernized showroom and service center, which would replace the company’s existing Porsche facility nearby on East 96th Street, would occupy an outlot that formerly was home to a Steak ‘n Shake.
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A Cox Automotive report finds that car repossessions nationwide are up 23% over last year and 14% compared with the first half of 2019.
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Mount Comfort RV, which primarily sells Forest River, Coachmen, Tiffin, Newmar, and Winnebago products, is one of the largest RV dealerships in the state.
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The quarterly loss reported after the close Thursday caps a disastrous year in which Carvana’s stock plummeted 98%, erasing almost $37 billion of market capitalization. Carvana spent $2.2 billion last year to acquire Carmel-based KAR Auction Services Inc.’s physical auto auction business, ADESA.
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Across the industry, auto analysts say, an “affordability shift” is taking root. The trend is being led by people who feel they can no longer afford a new vehicle that would cost them roughly today’s average selling price.
The suit claims Indianapolis-based Graham Rahal entered into a purchase agreement with the plaintiff but failed to deliver the vehicle.
How does someone who’s still on the racing circuit keep so many plates spinning? And why did he put this high-end automotive wonderland in Zionsville? Rahal addresses those and other questions.
Each auto company has unique problems, but common to many are growing stockpiles of pricey vehicles on dealer lots, requiring increased discounts to sell them to buyers with stressed-out household budgets.
The Indiana attorney general’s office said Sycamore Cos., which operates four used car dealerships under the Honest Abe name, deceived customers about the true cost of financing a vehicle purchase.
AutoNation said that certain ancillary services are still limited or unavailable, including those that help automate ordering, scheduling, payment and reporting processes.
Sales were crimped in late June, when cyberattacks knocked out software from CDK Global that dealerships use to do sales paperwork.
CDK suffered two cyberattacks that forced its systems offline for days, slowing down everything from scheduling, service repairs, parts deliveries and car purchases at auto dealerships in both the U.S. and Canada.
CDK Global, a company that provides software for thousands of auto dealers in the U.S. and Canada, was hit by back-to-back cyberattacks Wednesday. That led to an outage that has continued to impact operations.
For prospective car buyers, that may mean delays at dealerships or vehicle orders written up by hand, with no immediate end in sight.
A group of 3,700 auto dealers is calling on the Biden administration to pull back on federal regulations that will mandate that two out of every three vehicles sold in the United States in 2032 will be battery electric.
The announcement on Thursday shows Amazon’s ambitions to grow its footprint through dealers in an industry that has strong lobbying forces and heavy state regulations.
General Motors, Ford and Stellantis are facing sharply higher labor costs, estimated by some analysts at exceeding $1 billion per year, per company.
Overfuel, which launched last year, recently acquired a Washington-state-based competitor, 321 Ignition. Both companies offer a platform on which independent auto dealers can build their websites.
Just five years ago, a price-conscious auto shopper in the United States could choose from among a dozen new small cars selling for under $20,000. Now, that choice is down to a single vehicle.
A study by the New York Federal Reserve has found that 14% of applicants for auto loans were rejected over the past year—the highest such proportion since the New York Fed began tracking the figure in 2013.
It’s been more than a dozen years since Jeff Wood became company president, and he has used that time to diversify Tom Wood Automotive Group—often following his own interests to see where they lead.
Carmel-based KAR Auction Services Inc., which has been working to transform itself into a digitally operated company, took a big step toward that goal when it sold its U.S. physical auto auction business to Tempe, Arizona-based Carvana for $2.2 billion in cash.
Finalized this week for an undisclosed price, the purchase makes Champion Chrysler Dodge Jeep Ram at 4505 W. 96th St. the Mohr company’s 12th dealership.
Overfuel, which had its public launch this week, is targeting small- to medium-sized independent car dealers, offering them software that helps them streamline their websites and glean more information about customers’ online activities.
