November 21, 2017 - Industry News
Thanks to the lingering effects of hurricanes Harvey and Irma, J.D. Power’s seasonally adjusted used-vehicle price index recorded its third straight monthly increase. It rose 1.1 points to 114.5.
November 20, 2017 - Industry News
New data from Dealer.com reveals a post-summer surge in dealer website traffic and shows Black Friday purchase intent far outpaced Cyber Monday in 2016.
Auto retail expert Max Zanan’s highly anticipated ‘Perfect Dealership: Surviving the Digital Disruption’ is now available for purchase.
November 16, 2017 - Industry News
The social network announced the launch of two new ad features intended to help dealers and other automotive companies target users and capture their contact information.
The Manheim Marketplace is poised to deliver what the provider claims to be the industry’s first omnichannel experience, combining all channels to create a single, integrated destination for buyers and sellers.
Fifteen-year industry veteran Josh Dougherty has joined DealersLink as the dealer technology provider’s vice president of sales.
November 15, 2017 - Industry News
Toyota Financial Services and Launch Mobility will collaborate to develop a product that will make off-lease units available to rideshare drivers as short-term rentals.
The latest edition of J.D. Power’s U.S. Sales Satisfaction Study finds car buyers still rely on interaction with sales professionals to drive their shopping experience.
November 14, 2017 - Industry News
New research from PERQ shows dealership website visitors are more likely to purchase if offered a guided online experience and increasingly wary of features designed to capture their contact information.
Premium sporty cars recorded the largest decrease in value in October, while prestige luxury cars have registered the highest depreciation over the course of the last 12 months.
Tags: Black Book, Premium Sporty Cars, Prestige Luxury, vehicle depreciation
Thanks to a tight supply of late-model used vehicles, values don’t dramatically drop once the odometer crosses six figures, according to a new report from vehicle information site.
Tags: auto finance, Edmunds, used-vehicle values
Former R.L. Polk executive Bob Sherman and former CallRevu executive Kim De Palma have joined LotLinx as the company prepares to expand.
Black Book has agreed to provide vehicle valuation data to ASNSoftware’s dealer management solutions, helping to power trade valuations for independent auto dealers.
Launched in 2016, AutoGravity rapidly expanded from 100,000 users in its first six months to more than one million users less than a year later, according to officials. In 2017 alone, car shoppers have request more than $1 billion in vehicle financing through the fintech firm’s car-buying app.
Tags: auto finance, AutoGravity, digital retailing, online F&I
November 9, 2017 - Industry News
Manheim’s growing collection of digital and offsite offerings promises dealers more ways to buy and sell vehicles.
Post-hurricane demand pushed up the firm's index 1.02% from the month prior and 8.1% from a year ago to 136.6
Tags: Manheim Index, used-vehicle values, wholesale values
November 6, 2017 - Industry News
Terry Holmes Automotive Group has added the Motor Trend Certified program to six dealerships in South Carolina with a planned launch in Georgia.
November 2, 2017 - Industry News
The bureau concedes in its report that consumers are financing larger amounts and are electing for longer-term loans to keep monthly payments affordable. However, the regulator also notes that longer-term loans aren't having the desired effect in terms of default rates.
Tags: auto finance, Consumer Financial Protection Bureau, default rates, Long Loan Terms, Subprime Financing
November 1, 2017 - Industry News
Transaction prices continue to rise at a slower pace, with the third-quarter average up just 1% after averaging 3% gains in the first half of the year. And while KBB expects solid sales in October, flat transaction prices combined with ever-growing incentive spending signal headwinds for the new-vehicle market as the year nears its close.
Tags: Average Transaction Price, Kelley Blue Book, new-vehicle sales
October 31, 2017 - Industry News
The new platform gives users of Pearl’s VehicleXchange incentive-based marketing solution the ability to know which consumers are new or pre-owned buyers, and can target by propensity, APR, payment amount, term and credit score, and more.
Tags: data mining, digital retailing, Experian Automotive, online F&I, Pearl Technology
Flynn guided the company’s multi-year transformation effort. The executive is now set to replace Robert. N. Karp, who is leaving the company in December.
Tags: CDK Global, Daniel Flynn, showroom, technology
A study conducted by Jumpstart Automotive Media and Ipsos Connect sought to identify luxury car buyers and determine what motivates them, and the results were surprising.
Total revenue and gross profit were down 5% and 2% from a year ago, respectively, with Hurricane Irma having a significant impact on sales in the group’s core Florida and Georgia markets. F&I was a bright spot, with total gross profit up 4% and the group’s per-copy average increasing by $142 from a year ago to $1,547.
Tags: Asbury Automotive, F&I profit, Hurricane Harvey, Hurricane Irma, new-vehicle sales, public dealer, used-vehicle sales
October 27, 2017 - Industry News
Marchex claims nearly 15% comparative improvement in components of speech analytics accuracy, providing marketers and sales teams with actionable insights from phone conversations between consumers and brands.
A study released by Marchex and based on 8 million calls to U.S. auto dealers found that nearly one-fifth of calls went unanswered or were abandoned by the customer, representing millions of dollars in lost revenue.
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