Peter Waddell, founder of Big Motoring World, was ousted as CEO in 2024. A High Court judge ruled his dismissal for gross misconduct was valid, but also found private equity firm Freshstream orchestrated his removal to gain control without paying for shares via a call option.
US hybrid car sales are surging, projected to rise 9% this year, driven by high gas prices from the Iran war, range anxiety, and increased availability. This contrasts with slower EV adoption in the US, while Europe sees a 33% jump in BEV sales. Toyota leads the hybrid market.
UC San Diego researchers discovered a severe vulnerability in the KARR Security System, an aftermarket car alarm installed in over 2 million US vehicles by dealers. The flaw allows hackers within Bluetooth range to unlock cars, disable alarms, or immobilize vehicles, often without owners' knowledge. A firmware update is available, but reaching unaware owners is a challenge.
Bidbus, a startup that connects car sellers with multiple dealers for competitive bidding, has raised $15 million in Series A funding. The platform aims to offer sellers higher prices than services like Carvana by leveraging dealer competition, with an average offer reportedly $2,000-$3,000 higher.
Carvana has transformed a Dallas dealership into a "customer exploration and discovery" center, focusing on test drives without sales pressure. Staff support, not sales, is the emphasis, with purchases directed to the app. The unique design features interactive LED screens and unlocked cars for easy comparison.
Carvana is adapting its online used car sales model to new vehicles, utilizing its franchised Stellantis dealerships primarily as service centers and test-drive locations. Customers will still purchase vehicles online, differentiating from traditional dealership practices and potentially impacting the existing franchised dealer model.
Two helicopters collided in mid-air over Rio de Janeiro on Sunday, killing all six people on board. The crash occurred in the Recreio dos Bandeirantes suburb, with the aircraft falling into an electric car dealership's parking lot, igniting approximately 20 vehicles.
Two helicopters collided mid-air over Rio de Janeiro on Sunday morning, crashing in the city's western zone and killing all six people aboard. Among the victims was comedian and singer Oliver Tree, who was in Brazil on tour. The helicopters crashed into an electric car dealership, igniting a fire.
Two helicopters collided mid-air in western Rio de Janeiro on Sunday, killing at least six crew members. The crash occurred at an electric car dealership, igniting a fire that spread to at least 20 vehicles.
A Kansas dealership cannot deliver a newly sold Ford F-250 to its customer due to a family of robins nesting on one of its tires. The Migratory Bird Treaty Act protects active nests, and the dealership is awaiting the birds' departure.
Equity Group Investments (EGI), backed by the Zell family, focuses on old-economy businesses (e.g., John Deere dealerships, bluefin tuna fisheries) to avoid AI disruption, leveraging long-term investment horizons and tax benefits like bonus depreciation.
Christian Lindner, former German finance minister and FDP leader, is set to become CEO of Germany's largest auto dealership, a surprising career move from politics to automotive retail. Meanwhile, Iranian Foreign Minister Abbas Araghchi is in Moscow to discuss the Iran war with Russian officials, blaming the US for failed peace talks. In Romania, socialists and the far right are plotting to oust Prime Minister Ilie Bolojan, who leads a minority coalition after the center-left PSD joined the opposition.
Former German Finance Minister Christian Lindner is set to become CEO of Autoland AG, Germany's largest auto dealer for new and used vehicles, in 2027. Lindner joined the company's executive board last fall after quitting politics following his dismissal as finance minister in 2024 and the FDP's failure to secure seats in the 2025 German election. The company founder cited Lindner's management qualities as the reason for his promotion.
Germany’s former finance minister is set to become the CEO of the country’s largest auto dealership.
The sale of family-owned Sylvester Chevrolet in Pennsylvania illustrates a broader wave of consolidation in U.S. auto retail as smaller dealers face pressure from scale, technology costs and changing industry demands.
