In the news release, Penske Automotive Group and Cox Automotive Debut Automated Platform for Retailing Used Vehicles, issued 22-Jul-2021 by Penske Automotive Group, Inc. over PR Newswire, in the first sentence of the second paragraph, Cox Automotive’s technology should be “Esntial Commerce” and not “Essential Commerce”, as originally issued inadvertantly by PR Newswire.
Penske Automotive Group and Cox Automotive Debut Automated Platform for Retailing Used Vehicles
Digital Platform Enables Consumers to Transact 100% Online
BLOOMFIELD HILLS, Mich. and ATLANTA, July 22, 2021 /PRNewswire/ — Penske Automotive Group, Inc., (NYSE:PAG) and Cox Automotive, Inc. (“CAI”), announced today they have jointly developed a transformational, fully automated technology platform to enable the online retail sale of used vehicles. The automated online buying platform, which is owned exclusively by Cox Automotive,allows consumers to select from high-quality, preowned vehicles through PAG’s U.S. CarShop used vehicle SuperCenters and franchised dealerships.
Cox Automotive’s patent-pending artificial intelligence retail technology, Esntial Commerce™, powers CarShop’s U.S. digital platform to provide consumers with an automated,100% online vehicle purchase. Features include personalized monthly payments across all inventories, trade-in capabilities, application, approval for financing, digital contracting, and digital signatures.
Esntial Commerce offers payment personalization based on the consumer’s risk profile, selected vehicle, and preferred deal structure using an AI/machine learning algorithm. Offering actual financing and the ability to immediately transact online allows consumers to move forward confidently, knowing their financing has been approved.
This industry-first scalable eCommerce platform and its artificial intelligence enable automation for retail operations so that consumers can:
Instantly compare up to four vehicles
Receive personalized payments for the consumer’s selected vehicles based on each consumer’s credit profile, including payments for taxes, titling, and other fees
Select their payment terms based on credit profile
Add aftermarket protection products
Determine trade-in value
Receive approval for financing
Complete and sign deal paperwork online
Make any required down payment
Arrange for delivery directly to the consumer’s preferred location, either at home or one of CarShop’s U.S. locations
CarShop is the first retailer in-market with Cox Automotive’s industry-leading solution. Penske Automotive Group Chair Roger Penske said, “Over the last year the PAG and CAI teams have collaborated on this unparalleled technology that delivers a completely digital solution to the marketplace. This new digital platform meets the digital-first demands of today’s customer while providing us with the opportunity to offer our customers 100% online functionality.”
“Penske’s CarShop powered by Cox Automotive Esntial Commerce delivers personalization, F&I automation, and a seamless closing of the transaction when buying a vehicle online,” said Steve Rowley, President, Cox Automotive. “No one has delivered an automotive eCommerce solution that can scale to support the industry’s transformation for retailers and for consumers – until now. As our solution matures, we expect it to drive both consumer satisfaction and profitability.”
PAG has launched this fully functioning digital platform in select markets through its CarShop used vehicle SuperCenters at www.carshop.com. Cox Automotive continues to focus on development to further enhance the user experience, operational efficiencies, market
In an industry first, by integrating the data, products, services and technology across its portfolio, the Group will connect car maker, financiers, dealer and consumer in the most efficient way possible. An essential component is connecting finance data, the core thread of new and used vehicle sales. Seamlessly integrating this will unlock the barriers to offering a complete ‘omnichannel’ customer experience – blending physical showrooms and the virtual world – from first sale, through aftersales and re-sale.
The commercial gains on offer are vast. Based on the 77 million new cars sold globally in 2020, with a value of $2.5 trillion**, a 1% shift in ecommerce sales would equate to $25 billion in revenue. And that’s without factoring in the potential of global used car sales – the forecast for Europe in 2025 alone is €357 billion*.
The Automotive Transformation Group is also looking to help its customers to improve their profitability. By leveraging its products and services to cut transaction times and reduce sales process costs, the industry could generate an additional £2.2 billion per year in global profitability based on an extra £142 per new vehicle sale.***
The new Group already handles one transaction every 3.5 minutes ($4.25 billion annually) and has an unrivalled experience and operational scale in the industry. The company serves more than 20 car manufacturers in over 10,000 locations across 96 countries.
Commenting on the launch of the Automotive Transformation Group, Chairman David Riemenschneider said: “The digitalisation of the sales process is advancing at an unrelenting pace. The Automotive market, which is one of the largest in the world, has lagged other sectors in terms of the speed of transition to online sales, but that is changing rapidly. Until now, the cost and complexity of integrating each element of an online and offline experience into a brand consistent omnichannel one, has prevented it being delivered at scale. The Automotive Transformation Group aims to change that. By joining up the dots we will enable car manufacturers, financiers and retailers to unlock the huge potential and efficiencies in today’s sales process and overall value chain. And now is the time to act.”
CEO Christian Erlandson added, “Since we announced the merger between Autofutura and GForces, we have been engaged in strategic discussions with some of the biggest players in the industry. This demonstrates just how dynamic the automotive industry is and how fast it is shifting towards digitalisation. We offer something truly unique. By connecting vehicles and consumers, serving the right offer, at the right time, to the right customer and then facilitating the seamless transition from one vehicle to another, we are streamlining the customer journey, right from the first transaction. We believe the companies which we support will not just have happier, longer standing customers, they will also be even more successful as a result of the substantial efficiencies they have achieved.”
*, **Car sales and forecast data (Frost & Sullivan, May 2021)
***Calculations based on Automotive Transformation Group proprietary UK
LaFontaine Automotive Group on Thursday announced it has acquired Livonia-based Ralph Thayer Automotive, just the latest example of an accelerating consolidation trend among auto dealerships navigating a rapidly-changing industry.
LaFontaine itself has been on something of an acquisition spree. The group — which includes 44 retail franchises, six collision centers and 25 Michigan retail locations — bought Shuman Chrysler Dodge Jeep Ram of Walled Lake and Delehanty Ford in Flushing in October, according to a news release.
As The Detroit News previously reported, smaller dealership operations — often aging family businesses — see an opportunity to cash out amid a historic transformation of the automotive industry, even as larger enterprises look to build scale so they can invest in new technologies.
“On behalf of my family and our passionate LaFontaine team, we are excited to welcome the employees and customers of Ralph Thayer Automotive into our LaFontaine family,” Ryan LaFontaine, CEO of the group, said in a statement. “This strategic acquisition further strengthens our ability to serve customers in the greater Metro Detroit area — for sales, service, body shop and parts.”
Terms of the deal were not disclosed.
Ralph Thayer Automotive —a family-owned and operated dealership that has served customers in southeast Michigan since 1971 — includes Hyundai, Mazda and Volkswagen franchises
LaFontaine was founded in 1980. Today it employs more than 1,800 people, and says it now has locations within a 25-minute drive of any city in Metro Detroit.
According to a news release, the group sold more than 36,200 vehicles in 2020 and is ranked among the top 50 dealer groups in the U.S. It represents the Buick, Cadillac, Chevrolet, Chrysler, Dodge, Ford, Fiat, Genesis, Honda, Hyundai, Jeep, KIA, Mazda, RAM, Subaru, Toyota, Volvo and Volkswagen brands.
The dealerships that are part of the transaction will be renamed LaFontaine Hyundai of Livonia, LaFontaine Mazda of Livonia and LaFontaine Volkswagen of Livonia.
Welcome to Towne Auto Group! We are a used car dealership located in Orchard Park, NY and proudly serve the Buffalo metro area and surrounding Western New York locations. For over 40 years we have provided services to our customers that leave them happy and satisfied. We take pride in delivering exceptional used vehicles that will enhance your drive by giving you confidence behind the wheel.
We appreciate the business we receive from family and friends and thank everyone for choosing Towne Auto Group as their first choice in dealerships for pre-owned vehicles. As a family-run business, we work to create long-lasting relationships with our customers to better understand your needs. Our trained sales professionals want to ensure that you are getting exactly what you came in to receive while saving you time and money in the process! Contact us today with any inquiries about our current inventory or comments and concerns about our services. Our staff is always ready to answer your questions and we’d love to hear from you!
Ever needed a car for a short period of time? Car rental company Avis Budget Group Inc (NASDAQ: CAR) makes it known they specialize in cars.Avis Budget Group was actually part of a larger, now-defunct company called Cendant. The company split into different segments, and the automobile rental segment consisted of Avis and Budget. The two now exist as Avis Budget Group.Unbeknownst to most, the Cendant spin-off resulted in a couple of other well-known companies. Its hotel franchises spun-off into Wyndham Destinations (NASDAQ: WYND) and its real estate franchise spun-off into Realogy (NASDAQ: RLGY).Car rental companies have recently come under financial difficulties as rentals drop due to the coronavirus pandemic. Hertz (NYSE: HTZ) filed for bankruptcy after months of speculation.Related Links:The Story Behind The Ticker: The Cheesecake FactoryThe Story Behind The Ticker: Constellation BrandsPhoto credit: Raysonho @ Open Grid Scheduler / Grid Engine, via WikimediaSee more from Benzinga * 10 Stocks Moving In Thursday’s After-Hours Session * 5 Stocks Moving In Wednesday’s After-Hours Session * 8 Stocks Moving In Thursday’s After-Hours Session(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
“Being one of the biggest aviation services group and a socially responsible humanitarian flights provider, we decided to solidarize with other large global companies. We have sent an official offer of $2M worth flight budget to the World Health Organization with an aim to help combat COVID-19. The support money shall be dedicated to transporting COVID-19 vaccines to highly infected places using the company’s aircraft fleet – Dornier 228, Boeing 747-400F, B737-400F and Airbus A321,” says Mr. Vygaudas Usackas, Ambassador and Member of the Board of Directors of Avia Solutions Group.
Avia Solutions Group is the biggest integrated aviation service provider in the world with up to 50% of its flights being humanitarian. The company currently controls the operations of Chapman Freeborn, Bluebird Nordic and Avion Express, which together achieve around 10 000 flight hours per month performing medical aid flights, repatriation, United Nations World Food Programme missions and other high-demand services.
“Today, the demand for cargo transportation rapidly increased, followed by the prices becoming 2-3 times higher. Some areas are facing issues for cargo transportation as the waiting time for large cargo or cargo to difficult areas can be as long as 2-3 weeks. As a Group, we want to be sure that once the vaccine is invented, its transportation to areas, which need it most, will have been solved in advance,” Mr. Vygaudas added.
According to certain sources, today, more than 70 vaccines are being tested, and their certification procedures has already started. While the timeframe for approval processes is from late October 2020 to mid-2021, the vaccine transportation will most likely be needed in March – April 2021.
About Avia Solutions Group:
Avia Solutions Group is a global aerospace business group with 83 offices and production sites around the world. It employs over 7 000+ professionals and serves more than 2 000 clients across Europe, Asia, North America, Australia and other regions. The group holds more than 500 licenses for its diverse activities.
Avia Solutions Group is one of the largest aerospace servicing companies in the world which does not own a scheduled carrier. Its wide-ranging work for clients includes aircraft leasing and trading, MRO services, business, charter and cargo aviation, pilot and crew training and recruitment, ground handling, and more.
For more information about Avia Solutions Group, please visit www.aviasg.com.
For all media inquiries: Vilma Vaitiekunaite, Chief Communications Officer Phone: +37068616336 [email protected]
“Here in Bethlehem, we have been supplying Oxygen to the hospitals in New York City and New Jersey. All of our drivers have stepped up their game and have gone above and beyond without question.
Two drivers, in particular, have shared stories with me that made them feel something they never felt before.”
1️⃣ Tim Barnes was delivering in New York City and the fire department was clearing a call. When they noticed our truck coming down the street, they stood together and clapped and gave our driver a thumbs up because they knew he was delivering Oxygen to the hospitals.
Tim said, “As I drive by the firehouse, I look at them as heroes and when they cheered as I drove by, I felt like I was the hero. I was honored to have them do that. It made me feel like everything we are doing is worth it.”
2️⃣ Corey Koerner shared a story of a doctor coming out in full PPE as he was leaving finishing his delivery at the hospital. The doctor asked if he was there to deliver Oxygen. When he replied that the delivery had already been made and he is on his way out, she began to jump with joy. Corey stated, “It made me feel good to know that what I am doing is appreciated by the ones needing it.”
Tim closed by stating, “Although truck drivers are not usually looked at as being in the same class as public servants such as fire, EMS, or doctors, without our drivers doing what they do, those services would not be able to operate.
Others that need recognition through this are the Mechanics that are keeping the equipment running. Without them, the entire system can shut down.
I just want to end in saying I am very proud of the team in Bethlehem, and KAG, as a whole for stepping up through this crisis.”
GÖTEBORG, Sweden, April 21, 2020 /PRNewswire/ — Sharing the Green Deal vision of sustainable transport and a carbon neutral Europe by 2050, two leading companies in the commercial vehicle industry, Daimler Truck AG and the Volvo Group, have signed a preliminary non-binding agreement to establish a new joint venture. The intention is to develop, produce and commercialize fuel cell systems for heavy-duty vehicle applications and other use cases. Daimler will consolidate all its current fuel cell activities in the joint venture. The Volvo Group will acquire 50% in the joint venture for the sum of approximately EUR 0.6 billion on a cash and debt free basis.
“Transport and logistics keep the world moving, and the need for transport will continue to grow. Truly CO2-neutral transport can be accomplished through electric drive trains with energy coming either from batteries or by converting hydrogen on board into electricity. For trucks to cope with heavy loads and long distances, fuel cells are one important answer and a technology where Daimler has built up significant expertise through its Mercedes-Benz fuel cell unit over the last two decades. This joint initiative with the Volvo Group is a milestone in bringing fuel cell powered trucks and buses onto our roads,” says Martin Daum, Chairman of the Board of Management Daimler Truck AG and Member of the Board of Management of Daimler AG.
“Electrification of road transport is a key element in delivering the so called Green Deal, a carbon neutral Europe and ultimately a carbon neutral world. Using hydrogen as a carrier of green electricity to power electric trucks in long-haul operations is one important part of the puzzle, and a complement to battery electric vehicles and renewable fuels. Combining the Volvo Group and Daimler’s experience in this area to accelerate the rate of development is good both for our customers and for society as a whole. By forming this joint venture, we are clearly showing that we believe in hydrogen fuel cells for commercial vehicles. But for this vision to become reality, other companies and institutions also need to support and contribute to this development, not least in order to establish the fuel infrastructure needed,” says Martin Lundstedt, Volvo Group President and CEO.
The Volvo Group and Daimler Truck AG will be 50/50 partners in the joint venture, which will operate as an independent and autonomous entity, with Daimler Truck AG and the Volvo Group continuing to be competitors in all other areas of business. Joining forces will decrease development costs for both companies and accelerate the market introduction of fuel cell systems in products used for heavy-duty transport and demanding long-haul applications. In the context of the current economic downturn cooperation has become even more necessary in order to meet the Green Deal objectives within a feasible time-frame.
The common goal is for both companies to offer heavy-duty vehicles with fuel cells for demanding long-haul applications in series production in the second half of the decade. In addition, other automotive and
Mar 03, 2020 (WiredRelease via COMTEX) —
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The Transportation Management Association customizes alternative transportation, money-saving solutions
for employers, property managers, and commuters across Middle Tennessee.
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The TMA Group is a regional leader in customizing environmentally friendly, multimodal transportation solutions for employers and communities. The TMA Group customizes alternative transportation, money-saving solutions for employers, property managers, and commuters in fourteen middle Tennessee counties: Williamson, Wilson, Sumner, Rutherford, Robertson, Putnam, Montgomery, Maury, Marshall, Lawrence, Humphreys, Hickman, Dickson, Davidson, Coffee, and Cheatham.The TMA Group operates and manage on behalf of Williamson County, Tennessee, and the Regional Transportation Authority.The TMA Group raises public awareness and promotes transportation demand management (mobility management) solutions to transportation challenges throughout the region.
The TMA Group sponsors the Clean Air Partnerships of Williamson & Rutherford County and supports the Clean Air Partnership of Middle Tennessee administratively.
Under contract with the Franklin Transit Authority, The TMA Group manages and operates:
Fixed route transportation service through segments of the Franklin community and
Transit On DemanD (TODD) curb-to-curb transportation service, by reservation only, throughout the Franklin community
Funding for these programs is made possible by the U. S. Department of Transportation Federal Transit Administration and Federal Highway Administration, the Tennessee Department of Transportation, the Nashville Area Metropolitan Planning Organization, the American Recovery and Reinvestment Act, and fares paid for services. The TMA Group is subject to annual audits by the State of Tennessee, the City of Franklin, Williamson County, and the Federal Transit Administration.
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