Top News

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April 20, 2018 - Industry News

It’s Official: Wells Fargo to Pay $1 Billion Fine

Wells Fargo has consented to pay federal regulators $1 billion to settle charges pertaining to sales of automotive collateral protection insurance and mortgage interest rate-lock extensions.

April 19, 2018 - Industry News

Calif. Dealers Seek New Protections Under State's Franchise Laws

New legislation aimed at strengthening dealer protections under California’s franchise laws will have its first committee hearing on Monday. One of its provisions specifically addresses the disclosure policy General Motors issued last summer regarding the sale of non-GM service contracts.

Tags: California New Car Dealers Association, dealer protection, F&I products, Franchise Laws

April 19, 2018 - Industry News

Black Book: Small Cars Hold Their Own in March

Black Book’s most recent depreciation data charts a spring surge — and predicts a decline — in values for compacts and other smaller-car segments.

April 19, 2018 - Industry News

Ally Announces Sweeping Leadership Changes

Ally Financial announced a number of promotions and the departure of former President of Auto Finance Tim Russi.

April 18, 2018 - Industry News

U.S. Senate Approves Resolution to Repeal CFPB’s Dealer Participation Guidance

Today’s vote leaves it up to the House of Representatives to pass its version of the joint resolution of disapproval. Once that happens, only the president’s signature stands in the way of the industry’s more than five-year campaign to get the CFPB’s controversial guidance repealed.

Tags: auto finance, CFPB, compliance, Congressional Review Act, dealer markups, dealer participation, Flat Fees

April 18, 2018 - Industry News

Podium Earns BMW/Mini, FCA Endorsements

Podium has joined the ranks of preferred dealership providers for the BMW/Mini and Fiat Chrysler brands.

April 17, 2018 - Industry News

Hearst Joins CDK Global Partner Program

The new partnership is designed to combine Hearst Autos’ Car and Driver shopping tools with CDK Global’s dealer websites.

April 17, 2018 - Industry News

APCO Names David Vickers CFO

The company’s new CFO brings 35 years of experience in the insurance and automotive industries to the role, having most recently served as executive vice president and CFO of The Warranty Group.

Tags: APCO, connected car, Covideo, David Vickers, digital, EasyCare, F&I products, GWC Warranty, SAVY, technology

April 17, 2018 - Industry News

XPEL Announces New Ultimate Plus Paint Protection Film

The proprietary paint protection film’s zero orange peel finish and clear coat properties make it virtually invisible. Its self-healing capabilities also allow fine scratches and swirls to virtually disappear with exposure to heat.

Tags: F&I products, paint protection, self-healing film, XPEL

April 17, 2018 - Industry News

Wells Fargo Faces $1 Billion Fine for Mortgage and Auto Insurance Issues

Wells Fargo’s first-quarter earnings call was staged amid a string of regulatory concerns, declining auto originations, and the sale of a Puerto Rican subsidiary. But the company’s chief executive said the bank’s auto finance business will grow again.

Tags: auto finance, collateral protection insurance, compliance, Consumer Financial Protection Bureau, GAP, Office of the Comptroller of the Currency, Wells Fargo

April 17, 2018 - Industry News

EasyCare Earns Three Workplace Recognition Awards

For the second consecutive year, the National Association of Business Resources named the F&I product provider to its ‘101 Best and Brightest Companies to Work For’ list. The company was also named one of the ‘Healthiest Employers in Atlanta’ by the Atlanta Business Chronicle.

Tags: Best Places to Work, EasyCare, F&I products, human resources

April 16, 2018 - Industry News

Ferman Volvo Honored by Xtime

Xtime presented Ferman Volvo Cars of Tarpon Springs, Fla., with its first-ever Customer Experience Excellence Award.

April 16, 2018 - Industry News

Survey: F&I Represents Second Largest Opportunity for Margin Growth

According to a survey of 1,573 dealership owners and professionals, claims adjudication control and product branding are the two leading concerns when it comes to F&I products. Inadequate coverage, price, and 'customers not seeing the value' viewed as the three barriers to selling VSCs.

Tags: F&I products, Protective Asset Protection, vehicle service contract

April 16, 2018 - Industry News

DOM360 Unveils Automated Facebook Listings

Automotive Digital Marketing Agency has released a tool designed to allow auto dealers to automate vehicle listings for Facebook Marketplace.

April 16, 2018 - Industry News

Zurich Now Available on Darwin

Zurich North America’s F&I product lineup is now featured on Darwin Automotive’s fintech platform.

April 16, 2018 - Industry News

Times Union Awards Auto/Mate With 2018 Top Workplaces Award

This was the seventh consecutive year the technology firm has received the Top Workplaces honor. And for the first time, the company also took home the contest’s Special Award for Managers.

Tags: Auto/Mate, digital, employee retention, top workplace

April 16, 2018 - Industry News

Wheels TV Co-Founder Joins Flick Fusion

Lehel Reeves is joining Flick Fusion as its director of partnerships and business development. He will oversee the creation and management of partnerships aimed at raising awareness of the firm’s video marketing technology.

Tags: digital marketing, Flick Fusion, Video Marketing

April 13, 2018 - Industry News

AutoWeb Names Industry Veteran Jared Rowe President and CEO

The announcement marks Rowe's return to the company where he started his digital marketing career nearly 20 years ago. It also marks his return to the car business.

Tags: Autobytel, AutoWeb, Cox Automotive, digital marketing, digital retailing, technology

April 13, 2018 - Industry News

Xtime Shows Dealers the ‘Fast Lane’ to Service Profits

Xtime exec and ADT contributor Jim Roche has released a new book charting the path to greater fixed ops revenue.

April 12, 2018 - Industry News

Toyota, Honda Dealers Top Temkin’s 2018 Customer Experience Ratings

Auto dealers tied for 12th out of 20 industries ranked in the eighth edition of Temkin Group’s Customer Experience Ratings. Ford and Mercedes-Benz dealers also earned top rankings.

Tags: Customer Experience, customer satisfaction, Ford, Honda, Mercedes-Benz, Tempkin Group, Toyota

April 12, 2018 - Industry News

No. 1 With a Bullet: Toyota Dealer Has Hit Song

A Spanish-language music video is being credited with a record month for internet sales at Miami’s Headquarter Toyota.

April 12, 2018 - Industry News

SUV/CUV Loyalty Reaches Record Levels

IHS Markit analysts say more than two-thirds of SUV and crossover buyers remain loyal to the segment, far outpacing the industry average with no signs of slowing.

April 12, 2018 - Industry News

Credit Acceptance’s Steve Jones to Retire

The subprime finance source’s president since April 2007 will retire on June 30, CEO Brett Roberts announced in a recent regulatory filing.

Tags: auto finance, Brett Roberts, Credit Acceptance Corp., special finance, Steve Jones, Subprime Financing

April 11, 2018 - Industry News

Grossinger to AutoCanada in Record Cross-Border Sale

Chicago’s Grossinger Auto Group has sold 15 stores to AutoCanada in an acquisition billed as the largest ever to cross international lines.

April 11, 2018 - Industry News

Reuters: U.S. Senate Panel Plans to Scrap CFPB’s Dealer Participation Guidance

U.S. Senate Banking Committee Republican Pat Toomey said on Tuesday the panel plans to scrap the CFPB’s guidance on dealer participation and leverage lending.

Tags: auto finance, compliance, Consumer Financial Protection Bureau, dealer participation, Reuters

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