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THE GOOD FIGHT: Paul John, executive director of the Georgia Independent Automobile Dealers Association, discusses how the association fought against state legislation that would have raised the taxes on used-car purchases.

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CarMax Adds Another Texas Store Featured

Tuesday, 10 October 2017 19:31

CarMax Inc. is celebrating the grand opening of the company’s first location in the Tyler area and 17th location in the state of Texas.
The store is located at 3015 SSW Loop 323 and has the capacity to stock approximately 140 used vehicles.
In celebration of the Tyler store opening, CarMax and The CarMax Foundation awarded $7,500 in donations and grants to the Tyler Independent School District Foundation. Support for this organization came at the recommendation of the Tyler CarMax associates.

Under the Surface, Many Consumers Struggle with Finances Featured

Tuesday, 10 October 2017 19:05

While most economic indicators, from the official unemployment rate to the Dow Jones Index, point in a positive direction these days, many consumers still struggle with financial challenges

That’s the findings of a pair of recent surveys.

One of these, the Consumer Financial Stress Index from LegalShield, worsened to 90.8 from 90.4. This follows a 3.4 point increase in August.

The Index provides a read on the well-being of consumers based on the demand for certain legal services.

Though consumer finances are generally healthy, the Index predicts that spending will decline in coming months, said James Rosseau, LegalShield's chief commercial officer.

"Consumer spending accounts for a huge portion—more than two-thirds—of the U.S. economy," Rosseau said. "Although we're not expecting a poor retail season ahead, decision makers who are counting on a banner year for retail spending might be disappointed."

The LegalShield findings come on the heels of a negative report from the Consumer Financial Protection Bureau on the state of consumers.

Results from the CFPB’s national survey on the financial well-being of U.S. consumers that showed that more than 40 percent of U.S. adults struggle to make ends meet. 

Of the nationally representative sample of consumers surveyed, 43 percent of consumers report struggling to pay bills. Additionally, over one third – 34 percent –of all consumers surveyed reported experiencing material hardships in the past year. 

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Cox Automotive Promotes Exec Featured

Monday, 09 October 2017 20:22

Cox Automotive named Patrick Brennan as senior vice president of Inventory Solutions, Marketplace, following the recent promotion of Grace Huang to president of the Inventory Solutions Group.
In this newly titled role, Brennan leads auction and digital operations for Inventory Solutions.
Brennan most recently served as senior vice president of Logistics Solutions for Cox Automotive, improving the efficiency and client experience of Ready Logistics and Central Dispatch. Prior to that, he held positions of increasing responsibility with Cox Automotive and performed in operational and finance leadership roles for Manheim.
Brennan reports to Huang. Cox Automotive is seeking a replacement for the senior vice president of Logistics Solutions.

Carvana Debuts Another Vending Machine Featured

Thursday, 05 October 2017 19:09

Carvana launched its newest car vending machine in Jacksonville, Fla.
Standing eight stories tall, the fully automated machine holds up to 30 vehicles. This launch marks Carvana’s first vending machine in Florida, and the seventh of its kind across the country – joining those in Houston, Austin, San Antonio, Dallas, Nashville (Tenn.), and Raleigh (N.C.).
Carvana unveiled its Jacksonville Car Vending Machine a little more than a year after expanding into the area

CarMax Attempts to Keep up with Changing Tech Demands

CarMax Attempts to Keep up with Changing Tech Demands

During the most recent CarMax Inc. quarterly earning call, Morgan Stanley analyst asked an audacious question: “Could CarMax be Amazon’s Whole Foods of automotive retail?” Jonas is none for his...

Dealers Use In-House CRM to Drive Sales

Dealers Use In-House CRM to Drive Sales

Robert Beck, president, Stop ‘N Drive Motors, San Antonio, Texas: “We have one location and we opened up in 2005. “We usually stock about 40 to 50 cars. We have...

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