Automotive News

Aspen Aerogels Recognized as a 2023 Automotive News PACE Awards Finalist

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Monday, August 14, 2023

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NORTHBOROUGH, Mass., Aug. 14, 2023 /PRNewswire/ -- Aspen Aerogels, Inc. (NYSE:ASPN) ("Aspen", the "Company"), a technology leader in aerogel-based sustainability and electrification solutions, today announced its PyroThin® thermal barrier platform was selected as a finalist in the 29th annual Automotive News PACE Awards.

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NORTHBOROUGH, Mass., Aug. 14, 2023 /PRNewswire/ -- Aspen Aerogels, Inc. (NYSE:ASPN) ("Aspen", the "Company"), a technology leader in aerogel-based sustainability and electrification solutions, today announced its PyroThin® thermal barrier platform was selected as a finalist in the 29th annual Automotive News PACE Awards.
The PACE Awards, now in their 29th year, celebrate automotive suppliers for their innovative products or processes that push boundaries and contribute to the industry's evolution.
Aspen Aerogels developed PyroThin thermal barriers, the world's first aerogel cell-to-cell barrier engineered for pouch and prismatic battery cell applications.
Winners will be announced at the Automotive News PACE Awards ceremony in early 2024.

Car Pros Automotive Group Sets Record-Breaking Month of Vehicle Sales

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Wednesday, August 9, 2023

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RENTON, Wash., Aug. 9, 2023 /PRNewswire-PRWeb/ -- Car Pros Automotive Group, one of the fastest growing automotive groups in the U.S., announced today that it had its best sales month ever, selling a total of 2,633 new and used vehicles in July 2023. The previous sales record was set in August 2022 with 2,458 vehicles sold. Additionally, for each month this calendar year, Car Pros has experienced record sales for that month.

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National sales leader and a top 10 auto group has had record sales for each month in 2023, with its best month ever set in July 2023, retailing a total of 2,633 new and used vehicles
RENTON, Wash., Aug. 9, 2023 /PRNewswire-PRWeb/ -- Car Pros Automotive Group, one of the fastest growing automotive groups in the U.S., announced today that it had its best sales month ever, selling a total of 2,633 new and used vehicles in July 2023.
Additionally, for each month this calendar year, Car Pros has experienced record sales for that month.
Car Pros achieved record sales in 2022 of over $1 billion, up from $360MM in 2019, and earlier this year, announced that it was named the top Kia retail sales volume dealer group for the fourth time since 2018, according to Kia America (KUS) data, selling over 2% of the national total
"I am incredibly proud of the Car Pros team.
Last month, Car Pros announced the grand re-opening of its Car Pros Hyundai Renton, Washington.

ZeroSum Market First Report July 2023: New and Used Car Inventory is Down from June, but the Market is in a Much Stronger Place than One Year Ago

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Wednesday, July 26, 2023

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ZeroSum is forecasting July used car inventory to be at 1,922,704 by EOM.

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ZeroSum is forecasting July used car inventory to be at 1,922,704 by EOM.
This number slightly dipped from June's EOM number, but July's inventory is still well above the January 2023 low, which was 1,510,076.
In addition, less inventory on new and used vehicles makes it harder to rely on volume to drive sales.
New car inventory has seen some ups and downs in 2023, but overall inventory has been increasing for much of the year.

ZeroSum Market First Report June 2023: Despite a Small Bump in New Car Inventory, Prices Remain Historically High

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Tuesday, June 27, 2023

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Used car inventory is now at the highest level in two years, with June EOM numbers estimated at 1,835,193.

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Used car inventory is now at the highest level in two years, with June EOM numbers estimated at 1,835,193.
Used car prices have increased again for the third straight month to an average price of $31,262, an increase of 0.15%.
Pure electric vehicle inventory for June is predicted at 97,820, an increase of more than 10,000 vehicles from May EOM.
Despite the previous several months of dropping inventory, new car prices have been steadily rising, and June was no exception.

Auto Dealership Buy/Sell Market Begins 2023 with Robust Growth, Outperforming All First Quarter Results on Record

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Monday, June 26, 2023

Another significant characteristic of the first quarter was the record 29 multi-dealership transactions, representing 28% of the buy/sell market.

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Another significant characteristic of the first quarter was the record 29 multi-dealership transactions, representing 28% of the buy/sell market.
A record 29 multi-dealership transactions were completed in the first quarter of 2023, representing 28% of the buy/sell market.
The Top 144 Private Dealership Groups per Automotive News acquired a record 22% of franchises sold in the first quarter of 2023.
The Kerrigan Auto Retail Index is designed to track dealership valuation trends, while also providing key insights into factors influencing auto retail.

Haig Partners Served as the Exclusive Sell-side Advisor on the Sale of Al Hendrickson Toyota to Morgan Automotive Group – Setting a Record for the Highest Transaction Price for a Single Dealership

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Wednesday, June 21, 2023

Haig Partners LLC served as the exclusive sell-side advisor on the sale of the #2 highest-volume Toyota dealership in the nation, Al Hendrickson Toyota, located in Coconut Creek, Florida, to Morgan Automotive Group.

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Haig Partners LLC served as the exclusive sell-side advisor on the sale of the #2 highest-volume Toyota dealership in the nation, Al Hendrickson Toyota, located in Coconut Creek, Florida, to Morgan Automotive Group.
The sale of Al Hendrickson Toyota sets a record for the highest blue sky value ever paid for a single dealership, regardless of franchise.
View the full release here: https://www.businesswire.com/news/home/20230621788879/en/
In this historic transaction, Haig Partners represented Al Hendrickson Toyota in the sale to Morgan Automotive Group, setting a record for the highest blue sky value ever paid for a single dealership, regardless of franchise.
(Graphic: Business Wire)
Al Hendrickson Toyota opened its doors as a father-son business in 1989.

Automotive News Retail Director Joins The Presidio Group

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Thursday, June 1, 2023

The Presidio Group LLC (“Presidio”), an independent merchant banking firm focused on mergers and acquisitions, capital raising, and investments in the automotive retail and consumer mobility sectors, announced the addition of longtime automotive journalist and industry veteran Amy Wilson to its Atlanta-based team.

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The Presidio Group LLC (“Presidio”), an independent merchant banking firm focused on mergers and acquisitions, capital raising, and investments in the automotive retail and consumer mobility sectors, announced the addition of longtime automotive journalist and industry veteran Amy Wilson to its Atlanta-based team.
Wilson joins Presidio as Director of Research and Communications.
Most recently at Automotive News, Wilson directed the publication’s automotive retail coverage, overseeing an award-winning team of editors and reporters covering dealers, mergers and acquisitions, finance and insurance and other topics.
“She arrives to the group with an impeccable reputation, numerous relationships in automotive retail and a vast knowledge of the industry – from every angle.

ZeroSum Market First Report May 2023: New and used car inventory is down for the first time in months, but prices are still rising

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Thursday, May 25, 2023

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Used car inventory took the first dip that we've seen since December 2022, with the predicted May EOM number landing at 1,762,346.

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Used car inventory took the first dip that we've seen since December 2022, with the predicted May EOM number landing at 1,762,346.
Used car prices are rising, continuing the trend ZeroSum first reported in our April 2023 Report.
Used car prices are up 1.34% from the start of April 2023, with the average used car price now at $31,215.
Car prices have been increasing, but as ZeroSum reported above, used car inventory has decreased for the first time in months.

Eaton continues eMobility expansion in Europe to support EV growth

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Tuesday, May 9, 2023

These upgrades will support Eaton’s efforts in delivering electric vehicle solutions to passenger car, commercial vehicle and off-highway OEMs globally.

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These upgrades will support Eaton’s efforts in delivering electric vehicle solutions to passenger car, commercial vehicle and off-highway OEMs globally.
View the full release here: https://www.businesswire.com/news/home/20230509005268/en/
Eaton leaders, including Pete Denk, president, Vehicle Group, Eaton (left), Krzysztof Kaszkur, manufacturing manager, eMobility, Eaton (center), and Benito Dominguez, director, Operations, eMobility, Eaton (right), tour the new eMobility manufacturing line at the Vehicle Group’s Tczew, Poland, facility.
(Photo: Business Wire)
“The electrification of automotive and commercial vehicle markets requires new capabilities to meet the changing industry,” said Mark Schneider, president, eMobility, Eaton.
Eaton also is expanding eMobility production in Gummersbach, Germany, and Györ, Hungary, by leveraging Eaton’s Electrical Sector manufacturing facilities.

Advent Resources Launches Latest Version of All-in-One Car Sales System; Addresses FTC Car Dealer Regulation Proposals

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Thursday, April 27, 2023

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DALLAS, April 27, 2023 /PRNewswire-PRWeb/ -- Advent Resources, creator of the most sophisticated all-in-one car sales system for dealers, today announced the launch of Advent Advantage. This latest version of the company's high performance sales system features even more robust capabilities to help dealers capture every penny of profitability on every deal, in the most efficient way possible.

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DALLAS, April 27, 2023 /PRNewswire-PRWeb/ -- Advent Resources, creator of the most sophisticated all-in-one car sales system for dealers, today announced the launch of Advent Advantage.
For over 35 years, Advent has brought together complex components of the car deal, refined each step, and simplified them into a single selling process.
This fully digital platform is used from the first interaction with the consumer all the way through to the e-signing ceremony.
"The deal is the most important part of the car sale, yet today's dealers toggle between multiple systems with different numbers," said Ben Gill, CEO of Advent Resources.