DriveTime CEO Succession Planning Process Underway

DriveTime headquarters

DriveTime, the nation’s second-largest used-car retailer focused solely on used vehicles, today announced an executive succession process.

DriveTime and Ray Fidel, its CEO, entered into definitive agreements in late November 2017 for Mr. Fidel’s transition out of his role as CEO of the company in December 2017. The transition process is completed. The company is currently searching for a CEO for its retail operations.

“We’ve built a great foundation for the next chapter in the DriveTime story.  While we’re looking for a Retail CEO, I’m very confident our current leadership team will get us to the next level,” explained Ernie Garcia, chairman.

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About DriveTime
Headquartered in Tempe, Arizona, DriveTime is the nation’s second-largest vehicle retailer focused solely on used vehicles. DriveTime operates over 140 dealerships nationwide with annual sales exceeding 150,000 used vehicles and 1.2 million+ monthly visitors to its website, DriveTime now provides used vehicles and used-vehicle financing to the full range of customers in the market today, including competitively priced, lower-mileage used cars. Transforming the buying and financing of a used vehicle with a fair and transparent experience, DriveTime offerings include used-car features on its online inventory; speed of financing, including a credit score and the starting down payment in less than two minutes; prices on every used vehicle online and at its dealerships; no-haggle pricing; salaried associates trained to help our customers find the right used vehicle for them; and a five-day, no-questions-asked used-vehicle return program.

Jon Ehlinger

Source: DriveTime


Categories: Corporate Officers, Automotive, Retail

Tags: Automotive, CEO, DriveTime, Finance Company, Headquarters, Retailer, Succession, Used Cars