Monday, 13 September 2021 22:10

Group 1 to Buy Prime Automotive Group for $880M; LMP Announces Deal

Written by Auto Remarketing Staff

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Two of the nation’s publicly traded dealership groups announced respective acquisitions Sept. 13, including one with a price tag in the hundreds of millions of dollars.

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Katten announced Sept. 13 its Chicago managing partner, Gil Soffer, will serve as adjudications officer for the United Auto Workers (UAW) union to evaluate claims of misconduct after 15 people, including two former presidents, were convicted of misusing union funds among other misbehavior.

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Crash avoidance features and teen-specific vehicle technologies have the potential to prevent or mitigate up to three-quarters of fatal crashes involving teen drivers, a new study by the Insurance Institute for Highway Safety shows.

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As tight vehicle inventory continues to vex the auto industry, U.S. dealer sentiment in the third quarter softened but remains mostly positive and above levels recorded in Q3 2020 and Q3 2019. 

Monday, 13 September 2021 17:16

Tesla’s Musk Shares Brutally Honest Take on Dems’ Revised EV Proposal

Written by Simon Alvarez, Teslarati

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Tesla CEO Elon Musk shared a brutally honest take on U.S. Democrats’ revised EV tax credit proposal, which happens to be heavily pro-union.

Monday, 13 September 2021 15:48

Wholesale Used Vehicle Price Trend Reverses Course in August

Written by Vehicle Remarketing Staff

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Wholesale used vehicle prices (on a mix-, mileage- and seasonally-adjusted basis) decreased 0.4% month over month in August, according to a news release from Cox Automotive based on the Manheim Used Vehicle Value Index.