The Showroom

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March 22, 2017 - Industry News

Kontos: Used-Vehicle Prices Soften 'Uncharacteristically' in February

February provided “further concrete evidence of softening” of used-vehicle prices, ADESA's Tom Kontos wrote in his monthly Kontos Kommentary.

Tags: ADESA Analytical Services, Tom Kontos, used-vehicle prices, Wholesale Pricing

March 21, 2017 - Industry News

MVSC’S ERT Platform Endorsed by OADA

Motor Vehicle Software Corp.’s Vitu platform has been named the Oregon Auto Dealers Association’s preferred provider of electronic vehicle registration and titling services.

Tags: electronic lien and titles, Electronic Registration, Motor Vehicle Software Corp.

March 21, 2017 - Industry News

J.D. Power: Tesla Owners Choose Hype Over Quality

A new report from J.D. Power finds owners of the Tesla Model S and Model X have acknowledged numerous quality issues but show no signs of disloyalty.

Tags: Electric Vehicles, Model S, Model X, Tesla Motors

March 20, 2017 - Industry News

Edmunds, State Farm Create Affinity Program

The vehicle information site and auto insurer have teamed up to pair the Edmunds shopping experience with State Farm’s vehicle ownership tools.

March 15, 2017 - Industry News

Black Book: Cars Outperform Trucks, Luxury Cars Continue to Falter

Luxury vehicles continued to struggle last week, leading all segments in terms of depreciation. The other big story was the performance of cars, which continued to retain their values better than trucks.

Tags: Black Book, vehicle depreciation, Wholesale Values

March 15, 2017 - Industry News

DRIVIN, Chrome Data Announce Data Licensing Agreement

DRIVIN this week announced it has signed an agreement to license Chrome Data’s Automotive Description Service (ADS) to enhance its inventory-sourcing marketplace.

Tags: Chrome Data Solutions, DRIVIN, inventory sourcing, Online Marketplace

March 15, 2017 - Industry News

Manheim Locations Receive Top Honors at CAR

Eleven Manheim auctions took home 15 national and regional awards at this month’s Conference of Automotive Remarketing. Big winners were Manheim Seattle, Manheim Dallas and Manheim Statesville.

Tags: Auctions, Conference of Automotive Remarketing, Manheim

March 14, 2017 - Industry News

Sage to Pay $3.6 Million to Settle FTC Charges

The nine-store, Los Angeles-based Sage Automotive Group will pay $3.6 million to settle charges of deceptive and unfair sales and financing tactics, including yo-yo financing and payment packing.

March 13, 2017 - Industry News

Infiniti Joins automotiveMastermind Platform

Infiniti dealers now have the opportunity to partner with automotiveMastermind, which offers predictive analytics to drive sales and customer retention.

Tags: advertising, dealer website, digital marketing, marketing

March 13, 2017 - Industry News

PERQ: Decluttered Dealer Sites Perform Best

A new analysis of consumer behavior data suggests that decluttering dealership websites increases profit, data collection and click-throughs.

March 9, 2017 - Industry News

CNCDA: California New-Vehicle Sales Cool in 2016

The California new-vehicle market leveled off in 2016, with new light vehicle registrations increasing by less than 2% during the final three quarters of last year, according to the California New Cars Dealers Association (CNCDA).

Tags: California New Car Dealers Association, new-vehicle sales, used-vehicle sales

March 9, 2017 - Industry News

Lease Credit Approvals Jump 33.3% in February

Car lease credit applicants registered a 72.2% approval rate in February, a 33.3% increase from January’s 50% approval rate but flat with a year ago, according to Swapalease.com.

Tags: Lease, Swapalease.com

March 8, 2017 - Industry News

Black Book: Retention Holds Relatively Strong in February

Small pickups led the way, but cars also showed retention strength during a month in which the average price of a used vehicle for model years 2011-2015 depreciated by 0.8%.

Tags: Black Book, Depreciation, used-vehicle values

March 8, 2017 - Industry News

ACV Auctions Secures $15 million in Funding to Fuel Expansion

This Series B funding builds on the $5 million in venture capital ACV Auctions secured in 2016, the $1 million the firm secured in 2015 by winning the 43North startup competition, and the $1 million from angel investment the company also secured in 2015.

Tags: ACV Auctions, Depreciation, used-vehicle values

March 7, 2017 - Industry News

Manheim: Wholesale Prices Slip in February

Given last February's sharp dip in pricing, the Manheim Index shows a year-over-year gain of 1.1%, putting it at 124.6 for the month of February. The firm also noted that the crazy tax refund season that was expected to negatively impact dealers never materialized.

Tags: Certified Pre-Owned, Manheim Index, used-vehicle pricing, used-vehicle sales, Wholesale Pricing

March 7, 2017 - Industry News

DealerTeamwork Announces Partnership with InteractiveTel

The new collaboration aims to improve customer interaction tracking and data reporting.

March 7, 2017 - Industry News

Black Book Powers AutoGravity’s Trade Appraisals

Black Book and AutoGravity have reached an agreement that pairs Black Book’s valuation tools with AutoGravity’s digital sales and financing platform.

March 3, 2017 - Industry News

Eastman Launches New Campaign to Drive Dealer Sales

Eastman Chemical Co.’s Darrell Reed announced the launch of a new consumer campaign designed to drive dealership sales of window protection film.

March 2, 2017 - Industry News

Reynolds and Reynolds President Steps Down

Ron Lamb

Ron Lamb, who was named president of the software firm in October 2010, has stepped down from his post. Officials said the position will not be immediately filled.

Tags: Dealer Software, Reynolds & Reynolds, Ron Lamb

March 2, 2017 - Industry News

Impala Most Cross-Shopped Vehicle in 2016

Jumpstart named the Chevrolet Impala the most cross-shopped mass-market vehicle across its portfolio of sites in 2016.

March 2, 2017 - Industry News

Experian: Total Balances, Amount Financed Reach Record Highs in Q4 2016

The firm today reported that average amounts financed for new and used reached record highs of $30,621 and $19,329, respectively. Total balances also reached a record high, although Experian observed a slowing in year-over-year growth.

Tags: Auto Finance, deliquencies, Experian Automotive, leasing, new-vehicle financing, used-vehicle financing

March 2, 2017 - Industry News

Richard Howse Joins KAR Auction Services as CCO

The 30-year industry veteran will focus on developing customer solutions that integrate KAR’s capabilities and businesses. He will report to COO Don Gottwald.

March 2, 2017 - Industry News

AIDA: Trucks Up, Sales Down in February

America's 9,500 international nameplate franchises accounted for 54% of all new vehicles sold in the United States in February. Industrywide, 1.33 million light vehicles were sold last month.

Tags: American International Automobile Dealers Associat, Audi, Autodata Corp, Honda, SAAR

March 1, 2017 - Industry News

KBB: Average Transaction Price for New Up $757 in February

With sales skewed toward utility vehicles, the average transaction price for light vehicles rose by $757, or 2.3%, from a year ago to $34,352 in February, the firm reported today.

Tags: Average Transaction Price, Kelley Blue Book, new-vehicle sales

March 1, 2017 - Industry News

AutoGravity App Surpasses 200,000 Downloads

The fintech firm today announced it has surpassed 200,000 downloads of its native iOS and Android smartphone apps. The company’s platform allows car shoppers in 46 states to secure financing on a specific vehicle before heading to the dealership to complete the deal.

Tags: AutoGravity, Digital Retailing, Online F&I

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