Tempe-based car seller DriveTime begins search for new CEO

PHOENIX — Tempe-based used-car retailer DriveTime has officially begun a search for its next chief executive, the company said this week.

CEO Ray Fidel and the national automotive group agreed to part ways in November 2017.

“We’ve built a great foundation for the next chapter in the DriveTime story,” chairman and founder Ernie Garcia II said in a statement.

“While we’re looking for a retail CEO, I’m very confident our current leadership team will get us to the next level.”

Fidel had been with the company, which started out as Ugly Duckling car rentals, since 2001. He became CEO three years later.

Fidel and Garcia have ties dating to the late 1980s, and were involved in the 1990s’ savings-and-loan scandal.

Longtime executive Ray Fidel has left DriveTime. (Screenshot)

Forbes wrote in December that Garcia has made billions with his business.

DriveTime, one of the biggest secondhand car dealers in the United States, launched startup online used-vehicle retailer Carvana in 2013. That company is run by Ernie Garcia III.

Related

Arizona TikTok lawsuit alleges app hooks kids, hides risks from familiesSen. Ruben Gallego says ASU should have fired hockey coach after workout injured playerSAFE Alert issued for missing 85-year-old last seen in GlendaleCan Maricopa County change — or completely dump — third-party election vendors?Man arrested in Phoenix double-murder investigationVice President JD Vance accuses Arizona State, 8 other universities of visa abuse