The Showroom

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April 19, 2017 - Industry News

KAR to Acquire DRIVIN for $43M

KAR Auction Services will acquire the company that operates as DRIVN for $43 million. The company was founded in 2015 as CarCo Technologies by Groupon cofounders Brad Keywell and Eric Lefkofsky.

Tags: Data, DRIVIN, Kar Auction Services

April 19, 2017 - Industry News

J.D. Power: Consumers Fear Tech Failures With Autonomous Cars

Compared with 2016, 11% more Gen Z consumers and 9% more Pre-Boomers say they “definitely would not” trust automated technology, according to the firm’s 2017 U.S. Tech Choice Study.

Tags: Autonomous Driving, Connected Vehicle, J.D. Power, U.S. Tech Choice Study

April 19, 2017 - Industry News

Black Book: Spring Lift Continues

High demand for pre-owned vehicles resulted in increased values, with 13 out of the 22 vehicle segments registering increases in average value, the firm reported.

Tags: Black Book, used-vehicle values, vehicle depreciation

April 18, 2017 - Industry News

N.Y. Jaguar Land Rover Store Is ARCH-Compliant

The new, dual-branded, 35,000-square-foot dealership in Freeport, N.Y., is among the first in the U.S. to adopt the company’s new global ARCH retail standards.

April 18, 2017 - Industry News

Dealers Can Now Use Uber as a Shuttle Service

Uber today launched a new business program dealers can use to order rides for service customers. The new offering is the ride-hailing firm’s first one-to-many ride product.

April 18, 2017 - Industry News

NADAUCG: Used Vehicle Price Index Falls to Lowest Level Since 2010

The 1.6% rebound from February’s unexpected 1.4% drop wasn’t quite as big as the firm anticipated, but the lift was in line with the period’s 2.3% average over the previous three years.

April 18, 2017 - Industry News

Cox Names New Chief Economist, Launches Insights Division

Cox Automotive Chief Economist Jonathan Smoke

Cox Automotive has named Realtor.com’s Jonathan Smoke as chief economist and created an economic industry insights office.

April 17, 2017 - Industry News

Dealers Lead Nation in Pursuit of Leads

A new study finds dealers as a group are outpacing other U.S. business owners in lead follow-up — despite countless missed opportunities. Photo by Andrew Malone

A new report finds dealerships put other businesses to shame when it comes to lead follow-up, but there is room for improvement.

April 17, 2017 - Industry News

Black Book: Used Vehicle Retention Index Falls to 113 Heading Into April

Since registering a score of 125.9 in May 2015, the firm’s Used Vehicle Retention Index has fallen steadily. Last year, it dropped by 6.4%. In March, the index fell from February's 113.9 to 113.

Tags: Black Book, depreciation, Used Vehicle Value Index, used-vehicle values

April 12, 2017 - Industry News

Survey: Dealers Overestimating Customer Trust

The results of a survey of 400 dealers at the NADA convention indicate many dealers are overestimating customer trust, their sales team’s product knowledge, and the need to offer discounts.

April 12, 2017 - Industry News

Audi Names U.S. Sales Chief

The automaker has appointed Cian O'Brien to head sales in the United States as executive vice president and COO.

Tags: Audi, Cian O'Brien

April 12, 2017 - Industry News

TradeRev Adds New Features to Online Auction

The startup added a title concierge service to help dealers secure titles on vehicles purchased through its automotive exchange. The firm also added an account lookup feature so users can track all money movement between sellers and buyers.

Tags: Inventory Management, online auction, TradeRev

April 11, 2017 - Industry News

J.D. Power: Waiting Service Customers Want Snacks

The market research firm found that older customers prize complimentary snacks and beverages as well as newspapers and magazines, while members of Generation X and Y want wireless internet access.

April 11, 2017 - Industry News

Subaru Wins Best Overall Brand in KBB's Brand Image Awards

Subaru, Lexus and Ford take top honors with the highest average scores among all 12 brand watch factors. The awards are based on consumer automotive perception data from Kelley Blue Book Strategic Insights' Brand Watch study.

April 10, 2017 - Industry News

Morgan Stanley: Used-Car Values Could Fall by 50%

A new report from Morgan Stanley identifies several key factors that could cut used-car values in half by 2022.

Tags: auto finance, Morgan Stanley, Stretching Loan Terms, Subprime Financing, used-vehicle pricing, vehicle depreciation

April 10, 2017 - Industry News

Manheim: Used-Car Reports Signal Stability

Despite declining wholesale values in March, first-quarter pricing for used vehicles showed a year-over-year increase from the first quarter of 2016.

April 10, 2017 - Industry News

DeLong Named VP of Covideo

Thirty-year industry veteran Mike DeLong has been tapped to lead Covideo’s Dealer Services division.

April 6, 2017 - Industry News

Simple Recon Adds Amazon Alexa Skill

New integration promises direct inventory updates without the need to log into an app or website.

April 6, 2017 - Industry News

NADA Sticks to 17.1 Million-Unit Forecast

NADA’s leadership is bullish on the new-car market despite economic concerns that could compel some buyers to opt for pre-owned units. Photo by htmvalerio

The National Automobile Dealers Association (NADA)’s chairman and chief economist cited strong demand and rising wages among high-income earners as reasons to be optimistic about new-car sales.

April 6, 2017 - Industry News

5 Vehicle Segments Retain or Increase Values in March, Black Book Reports

The vehicle valuation firm reported today that the average used vehicle for model years 2011-2015 depreciated slightly 0.6%. Cars overall recorded depreciation of 0.3%, while trucks registered depreciation of 0.8%.

Tags: Black Book, used-vehicle values

April 4, 2017 - Industry News

Black Book to Value Trades for eAutoAppraise

The new partnership was designed to benefit dealers and car buyers by providing accurate values and promoting a less adversarial transaction.

April 4, 2017 - Industry News

VW Settles State Diesel Claims for $157M

Photo courtesy of VW.

This latest settlement, announced on March 30, will be paid to Connecticut, Delaware, Maine, Massachusetts, New York, Oregon, Pennsylvania, Rhode Island, Vermont, and Washington. The settlement was negotiated with attorneys general from each state.

Tags: Diesel, Volkswagen, Volkswagen Scandal

April 4, 2017 - Industry News

AIADA: Asian Brands Lead the Way for International Nameplates in March

With the Industry SAAR falling below 17 million for the first time since August, the trade group said the industry's March sales performance 'suggests that sales may be plateauing.' The association said now is the time for dealers to tighten their operations and push back on any tax increases on consumers.

Tags: American International Automobile Dealers Associat, Honda, new-vehicle sales, Nissan, Subaru

April 3, 2017 - Industry News

AutoGravity Surpasses 1,000-Dealer Mark

AutoGravity’s mobile car shopping and financing platform has grown to included 1,000 rooftops representing more than 1,400 dealerships.

Tags: auto finance, AutoGravity, digital retailing, online F&I

March 30, 2017 - Industry News

Tom Webb to Retire as Cox Automotive's Chief Economist

Tom Webb will retire on June 30, ending a more than four-decade career. Cox Automotive officials said a replacement will be named in the coming weeks.

Tags: Cox Automotive, Manheim, Manheim Index, Manheim Used Vehicle Report, NADA, used-vehicle values

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