In the late 1990s, it seemed that big, publicly traded dealership groups would come to dominate auto retailing, leaving independent operators and small, family-owned collections of stores in the dust. That didn’t happen. Two decades later, just six franchised dealership groups in the U.S. have gone public, responsible for 6.5 percent of new-vehicle sales nationwide. And not a single new player has joined the fray in 17 years..
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Online used car startup Shift Technologies has tacked on another $40 million in equity funding, hired a new COO with Amazon and Enjoy roots and scaled up its engineering staff — all in the past several months — as the company aims to double its revenue this year.
SoftBank Group Corp. has led a $385 million investment in auto-finance startup Fair, the latest bet by the Japanese firm to back companies that are trying to fundamentally change personal transportation.
What is a car subscription? Instead of owning or leasing a car, imagine just paying a monthly fee and for gasoline. That’s it. No insurance, no maintenance, no long commitment. You can even swap out your car for a different one every few months.
Amazon Creates Vehicle listing Site to Compete with AutoTrader, KBB.com, Cars.com, TrueCar.com, EbayMotors.com, CarGurus.com, etc .
Hyundai is the first carmaker to launch a digital showroom on Amazon.com’s Vehicles hub. Let the disruption begin.
LMP commences construction of its online and e-commerce platforms and begins test marketing…
LMP opens its online dealership in Plantation Florida in the Auto Mall district just minutes away from Fort Lauderdale International Airport and Manheim Auto Auction.