Tarr Joins Karma

June 09, 2020

Greg Tarr has joined Karma Automotive as Chief Strategy Officer. 

Greg Tarr will lead strategy and corporate development
Greg Tarr will lead strategy and corporate development

Tarr will report directly to Karma CEO Dr. Lance Zhou, providing valuable insight and leadership for Karma’s business model, strategic innovation and future product portfolio. As Karma Automotive develops future vehicle programs across Electric Luxury Cars, Supercars, Commercial Vehicles and Technology Platforms, Tarr’s strategic guidance will strengthen the company’s growing global presence and product development. A new range of battery electric vehicles (BEV) starting with the all-electric Karma Revero GTE launches in Spring 2021.

“Greg’s leadership experience in Silicon Valley automotive and mobility startups, global network, venture capital and Toyota background will be a valuable asset to Karma’s executive team,” says Dr. Zhou.

2018 Karma Revero at the 2018 Greenwich Concours d'Elegance
2018 Karma Revero at the 2018 Greenwich Concours d'Elegance

Tarr said, “Karma is reinventing the luxury electric category with innovation. Karma products intersect new mobility innovation, iconic/exclusive design and bespoke craftsmanship, which converge to create the next generation of luxury electric cars, supercars and SUVs.”

Tarr has worked on several boards over his career. He has lived in Greater China, Japan, Korea, Vietnam, Singapore, Sweden, Canada and is originally from New York City.

Mike Albert Fleet Solutions announced the launch of AlbertIQ, a new, proprietary analytics platform that monitors the mechanical health of fleet vehicles as well as when, where and how long they are used and how safely they are driven.

AlbertIQ uses the latest serverless technologies to merge telematics data with the expertise of our ASE-certified maintenance team to provide you with a prioritized list of mechanical issues and open recalls that need attention.

“(The platform) uses the latest serverless technologies to merge telematics data with the expertise of our Mike Albert ASE-certified maintenance team to provide fleet administrators with a prioritized list of mechanical issues and open recalls that need attention. It also tracks and reports when vehicles are used outside of company guidelines and are driven unsafely,” said Jeff Hart, president at Mike Albert.

“With AlbertIQ, fleet administrators are empowered to resolve potential problems in their earliest stages to increase safety, prevent costly repairs, minimize driver downtime, ensure compliance, maximize vehicle life, maintain vehicle resale value, prevent missed customer appointments, and protect their company’s brand image.”

Group 1 Automotive Inc., an international, Fortune 500 automotive retailer, announced the appointment of Daniel McHenry as Chief Financial Officer (CFO) effective August 15, 2020.  He will replace long time Group 1 CFO John Rickel, who has elected to retire from the company at the end of this year after almost 15 years of service.

McHenry has served as Group 1’s UK Finance Director since 2007. He is a native of Belfast, Northern Ireland and holds a Bachelor’s degree in Economics from Queens University Belfast and a Master’s degree in Accounting and Management Science from Southampton University. Additionally, he is a member of the Association of Chartered and Certified Accountants in the UK. McHenry joined Group 1 in 2007 as part of the acquisition of Chandlers BMW in southern England, Group 1’s first venture in the UK.  Prior to entering the auto retail business, McHenry had five years of experience with KPMG in the UK.

Rickel came to Group 1 in December 2005 after a 21-year career at Ford Motor Company. At Ford, Rickel held a variety of key positions including the roles of CFO of Ford of Europe and CFO of the Americas.

Although most small business owners are eager to reopen once their cities and states fully lift restrictions, some entrepreneurs worry about the lingering effects of the pandemic, according to LendingTree’s latest survey of small business owners.

Just 11 percent of respondents said they have no anxiety about reopening. Nearly half of small business owners worry they cannot afford to resume normal operations following mandated closures, LendingTree reported. Approximately 46 percent of small business owners cite funding as the primary obstacle to reopening, and that once open, increased health and safety measures could further stifle sales.

Independent dealers are open across the country
Independent dealers are open across the U.S and have implemented Social Distancing protocols

The biggest concern for 39 percent of small business owners is that they will not generate enough sales to make opening worthwhile. And 30 percent are nervous they would have to shut down again if there is another spike in coronavirus infections. A smaller group is worried about complying with ongoing social distancing and health safety guidelines, as 8 percent said that was their main concern, while 5 percent are most troubled about employees not wanting to return to work.

On the bright side, 52 percent of survey respondents expect all of their employees to return to work when the business reopens. Nearly half — 48 percent — plan to bring back the same number of people at the same number of hours. And only 23 percent of business owners expect to employ fewer people for fewer hours when they reopen.

New York City car dealer Bronx Honda and its general manager, Carlo Fittanto, will pay $1.5 million to settle Federal Trade Commission charges they discriminated against black and Hispanic car buyers and engaged in numerous other illegal business practices.

Bronx Honda dealership to pay $1.5M
Bronx Honda dealership to pay $1.5M in fines.

According to the FTC complaint, the defendants told salespeople to charge higher financing markups and fees to black and Hispanic customers. The defendants told employees that these groups should be targeted due to their limited education, and not to attempt the same practices with non-Hispanic white consumers. The complaint alleges that black consumers were charged about $163 more in interest than similarly situated non-Hispanic white consumers, while Hispanic consumers were charged about $211 more in interest.

In addition to alleged racial discrimination, the defendants are charged with numerous illegal practices in the advertising and sales process that caused consumers to pay substantially more than they expect. The complaint alleges that the defendants violated the FTC Act, the Truth in Lending Act and the Equal Credit Opportunity Act. In addition to the $1.5 million payment that will be used to provide redress to consumers, the settlements also prohibit Bronx Honda and Fittanto from misrepresenting the cost or terms to buy, lease, or finance a car, or whether a fee or charge is optional. They will also be required to establish a fair lending program that will, among other components, cap the amount of additional interest markup they can charge consumers.

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