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January 18, 2017 - Industry News

MetroGistics Promotes Four Senior Executives

The vehicle-shipping company announced the following promotions: Jeremy Cope to executive vice president of operations and strategy; Martha Garcia-Perry to vice president of growth initiatives and integration; Dustin Ruch to vice president of business development; and Melissa Trautman to vice president of market strategy and integration.

Tags: MetroGistics, vehicle shipping

January 18, 2017 - Industry News

CU Direct Claims $30 Billion in Auto Loans, Pays Cash Dividend

Credit unions funded 1.4 million loans through CU Direct’s Lending 360 and CUDL lending platform, generating a record $30 billion in credit union auto loans in 2016 and surpassing the $26 billion in loans the company funded in 2015.

Tags: auto finance, Credit Unions, CU Direct, CUDL, F&I manager, loan originations

January 18, 2017 - Industry News

Compact Cars Continue to Show Strength

For model years 2008-2014, compact cars realized a wholesale value decline of 0.11% — the lowest level among all small cars. Alternatively, prestige luxury cars and subcompact cars realized the highest wholesale-value declines, with depreciation of 0.69% and 0.64%, respectively.

Tags: Black Book, CPO, small cars, used-vehicle sales, vehicle depreciation, Wholesale Pricing

January 18, 2017 - Industry News

Kontos: December Wholesale Prices Fall, Up 3.9% YOY

Wholesale used-vehicle prices in December averaged $10,642, which was essentially flat with the prior month but up 3.9% from a year ago, according to ADESA Analytical Services.

Tags: ADESA, Kar Auction Services, Tom Kontos, used-vehicle values, Wholesale Pricing

January 18, 2017 - Industry News

F&I Express Announces Initiative to Streamline F&I Product Cancellation Process

The software company today released details on an initiative to electronically integrate major finance sources with F&I product providers in a bid to develop better F&I product cancellation processes and systems.

Tags: auto finance, Dealertrack, F&I Express, F&I products, Repossessions

January 17, 2017 - Industry News

Hyundai-Kia to Invest $3.1B in U.S.

Sister South Korean automakers Hyundai Motor Co. and Kia Motors Corp. will invest $3.1 billion in the U.S. in the next five years and may build a new assembly plant in the United States, Hyundai Motor's president told reporters on Tuesday.

Tags: Donald Trump, Hyundai, Kia, Vehicle Manufacturing

January 17, 2017 - Industry News

Roadster, F&I Express Announce Integration Pact

Through F&I Express’ Express Digital Media Solution, Roadster dealers can now provide car buyers with accurate F&I product quotes and education material from more than 130 F&I product providers.

Tags: digital retailing, F&I Express, F&I products, online F&I, Roadster

January 17, 2017 - Industry News

Technology, Customer Satisfaction to Headline Vehicle Finance Conference

The American Financial Services Association's 21st annual Vehicle Finance Conference will focus on compliance, cyber security, customer satisfaction, and technology. The question the event will attempt to answer is, 'Are we there yet?'

January 17, 2017 - Industry News

EPA Finalizes Green House Gas and CAFE Standards

On Friday, the Environmental Protection Agency finalized the fuel efficiency rules that will guide the federal greenhouse gas and CAFE standards for 2022-2025 model-year vehicles.

Tags: CAFE Regulations, EPA, Fuel Economy, GHG

January 17, 2017 - Industry News

GM Invests $1B in U.S. Manufacturing

General Motors is investing $1 billion in its U.S. manufacturing operations and will move production of axles for its pickup trucks from Mexico, the company announced on the eve of President-elect Donald Trump's inauguration.

Tags: Donald Trump, General Motors, Vehicle Manufacturing

January 12, 2017 - Industry News

Cox Automotive Makes Two Executive Promotions

Cox Automotive this week announced two executive promotions. Rock Anderson Jr. has been promoted to executive vice president of people strategies and John Kovac has been promoted to executive vice president and CMO.

Tags: Cox Automotive, Promotions, Vice President

January 12, 2017 - Industry News

automotiveMastermind Adds Toyota to Its Platform

automotiveMastermind, a predictive analytics and marketing automation technology company for automotive dealerships, today announced that Toyota dealerships across the country will now be able to partner with it.

Tags: automotiveMastermind, Data, Marketing, Technology, Toyota

January 12, 2017 - Industry News

VinSolutions Announces New Integration with Dealertrack

With the Rates & Residuals enhancement, dealerships now have the ability to structure deals for new and pre-owned vehicles by accessing incentives, rates and programs from both their captive and noncaptive lenders, all within VinSolutions. The portal, powered by Dealertrack, then returns the top retail and/or lease programs based on consumer credit scores.

Tags: Dealertrack, Desking, Digital F&I, digital retailing, VinSolutions

January 12, 2017 - Industry News

Autodata: December Sales Push 2016 New-Vehicle Sales Above 17.5 Million

The 3.1% year-over-year increase in new-vehicle sales in December was more than enough to push the industry’s annual sales tally above the 17.5 million-unit mark for 2016, according to Autodata Corp.

Tags: Audi, BMW, Chrysler, December, Ford, GM, Honda, Mazda, Mercedes-Benz, Mitsubishi, Nissan, Porsche, SAAR, Toyota, Vehicle Sales, Volkswagen

January 12, 2017 - Industry News

EPA Accuses FCA of Excess Diesel Emissions

The U.S. Environmental Protection Agency has accused Fiat Chrysler Automobiles of failing to disclose engine management software that increased air pollution in 104,000 diesel-powered Ram 1500 trucks and Jeep Grand Cherokee SUVs in the 2014 to 2016 model years. FCA officials say the software shouldn’t be considered a defeat device.

Tags: Autotrader, Emissions, Environmental Protection Agency, Fiat Chrysler, Volkswagen

January 12, 2017 - Industry News

NCM, The Rawls Group Announce Leadership and Succession Program

The two firms will debut at NADA 2017 the new NCM-Rawls Dealer Executive Program, a 10-month leadership development curriculum on succession planning and leadership.

Tags: Dealer, NCM Associates, Succession Planning, The Rawls Group, training

January 11, 2017 - Industry News

Head of Wells Fargo Dealer Services Set to Retire this Year

Wells Fargo announced this week that Dawn Martin Harp, the head of Wells Fargo Dealer Services, is set to retire this year, after more than 20 years of service.

Tags: Retirement, Wells Fargo, Wells Fargo Dealer Services

January 11, 2017 - Industry News

IHS Markit Awards General Motors With Top Customer Loyalty Award

During IHS Markit’s 21st annual Automotive Loyalty Awards, the company recognized automakers who have displayed excellent levels of customer loyalty. In total, the awards show recognized winners in more than 30 categories.

Tags: Automotive Loyalty Awards, Awards, Customer Loyalty, IHS Markit

January 11, 2017 - Industry News

Pearl Combines Equity Mining Tool With 'Buy Direct From Consumer' Platform

The integration will allow dealers to search for vehicles they wish to purchase directly from consumers by year, make, model and trim, according to the company.

Tags: Equity, Marketing, Pearl Technology, Technology

January 11, 2017 - Industry News

AutoGravity Adds First Investors to Vehicle Financing Platform

AutoGravity is adding First Investors Financial Services’ indirect business onto the AutoGravity platform, the two companies announced this week.

Tags: AutoGravity, Financing, Fintech, Technology

January 11, 2017 - Industry News

Heritage Acceptance Corp. Launches New Vehicle Service Contract

The new service contract includes roadside assistance and a higher liability limit the company claims will better protect the customer's investment.

Tags: Heritage Acceptance Corp., Marathon Administrative Co., Vehicle Service Contract

January 10, 2017 - Industry News

Volkswagen AG Pleads Guilty to Emissions Scandal

Aside from the $4.3 Billion settlement, the U.S. Department of Justice announced that six Volkswagen executives and employees were indicted for their role in the decade-long conspiracy to cheat U.S. emissions tests.

Tags: Diesel, Emissions, Volkswagen, Volkswagen Scandal

January 10, 2017 - Industry News

Black Book: Smaller Cars Back in Demand

Small cars (model-year 2008-2014) are making a comeback to open the year, and Black Book believes the segment could be in for a good spring.

Tags: Black Book, vehicle depreciation, Wholesale Pricing

January 10, 2017 - Industry News

Dent Wizard Hires Vice President of Customer Development

Ryan Briggs, former national sales manager for DigitCut, was hired by Dent Wizard to fill the newly created position of vice president of customer development. He'll be responsible for expanding the company’s relationships with the nation’s Top 150 dealer groups.

Tags: Dent Wizard, paintless dent removal, reconditioning, Remarketing

January 9, 2017 - Industry News

Cadillac Launches $1,500 a Month Subscription Service

Cadillac has launched a subscription-based, on-demand vehicle utilization program that provides access to Cadillac vehicles without a commitment to buy or lease.

Tags: Cadillac, General Motors, Online Buying, Subscription

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