Reynolds and Reynolds still on acquisition hunt

Reynolds and Reynolds still on acquisition hunt https://ift.tt/Afv6TFb

President Chris Walsh said in February the company would look for acquisitions in 2022 to bolster its product portfolio and offerings. Since then, the dealership management system provider has completed two acquisitions.

GM to penalize consumers who resell certain high-demand vehicles within 12 months

GM to penalize consumers who resell certain high-demand vehicles within 12 months https://ift.tt/dgj0Gbo

GM is asking dealers to help prevent customers from quickly flipping high-demand vehicles and adding exorbitant markups.

Asbury back in the market to buy car dealerships

Asbury back in the market to buy car dealerships https://ift.tt/pv6aAds

Asbury Automotive Group CFO Michael Welch told analysts last week that the retailer didn't plan to seek new acquisitions until it had cut its leverage to 2 times earnings. And at a debt ratio of 2.1 times earnings at the end of June, Asbury is close enough to that point to re-enter the buy-sell market, CEO David Hult said. That ratio had been 2.7 in December 2021, the month Asbury's $3.48 billion acquisition of Larry H. Miller Dealerships and Total Care Auto closed.

EV safety training: It's not just for techs

EV safety training: It's not just for techs https://ift.tt/0j7Ehzk

Training expert Carol Broadwell Dietrich discusses the importance of electric vehicle safety training for every dealership employee who may come in contact with them, and how EV training might evolve in the coming years.

Carvana wins temporary injunction against Illinois, can resume business in state for now

Carvana wins temporary injunction against Illinois, can resume business in state for now https://ift.tt/U1tQbXw

The Illinois Secretary of State is forbidden from "suspending or revoking" Carvana's certificates of authority and dealer plates.

CEO David Smith named chairman of Sonic Automotive; former CEO Scott Smith returns to board

CEO David Smith named chairman of Sonic Automotive; former CEO Scott Smith returns to board https://ift.tt/lJ9KygN

Sonic Automotive has a new chairman and a new board member following the June death of iconic company co-founder Bruton Smith.