Top News

1  -  25  of  2389

September 29, 2016 - Industry News

Nine Los Angeles Dealerships Charged With Payment Packing, Yo-Yo Financing

The Federal Trade Commission today charged nine Los Angeles-area dealerships and their owners with a wide range of deceptive, and unfair sales and financing practices, including payment packing and using "yo-yo" finanicng tactics.

Tags: Compliance, Dealership, Deceptive Advertising, FTC, Regulation M, Regulation Z, TILA

September 29, 2016 - Industry News

Dealership Wages Outpacing Private Sector, NADA Study Shows

Employees at new-car dealerships made, on average, $69,718 a year in 2015, a 1% increase compared to the year prior, according to NADA’s 2016 Dealership Workforce Study. General managers and F&I managers experienced double-digit percentage earnings growth rates, while sales managers and sales consultants increased 4.5% and 2.7%, respectively.

Tags: Dealership, NADA, Study, Wages

September 29, 2016 - Industry News

5,519 Dealers Now Using DealerVault to Control Their Data

Aside from its customer count, the provider of a cloud-based system designed to put dealers in control of their data announced it now has 450 vendor partners.

Tags: Cloud Service, Cyber Security, Dealership Data, DealerVault, DMS

September 29, 2016 - Industry News

Alpha Warranty Services Releases Claims Tracker

Alpha Claims Tracker allows vehicle owners, dealers, and even agents to track claims in real time on a mobile device. The F&I product provider said the new offering is designed to improve the customer experience.

Tags: Alpha Warranty Services, Mobile Applications, Software, Technology

September 29, 2016 - Industry News

Auto Finance to Get More Competitive, Equifax Reports

Slowing demand for new vehicles points to auto finance sources having to contend with increased compeittion for consumer loans. That was the conclusion of Equifax's Nation Consumer Credit Trends report for August, which showed that auto originations for the first six months of year grew 3.5% compared to a year ago.

Tags: Auto Loans, Equifax, Subprime

September 29, 2016 - Industry News

KAR Promotes Fields to VP of IT Shared Services

Gary Fields, who joined the KAR group in 2003, was promoted to vice president of KAR IT Shares Services. He will be responsible for overseeing the coordination of any enterprise-wide technology solution implementations, as well as identifying and researching relevant emerging technologies.

Tags: IT, KAR Auction Services, President, Promotion

September 28, 2016 - Industry News

Black Book: Car Depreciation Shows Signs of Slowing

The car segment retained its value well last week, with the wholesale value of 2008-2014 model-year cars decreasing by 0.68% last week. This was in line with the 0.67% decline the segment has experienced over the last six weeks, according to Black Book’s Market Insights report.

Tags: Black Book, Depreciation, Wholesale, Wholesale Values

September 28, 2016 - Industry News

Manheim Now Offering Enhanced Vehicle Imaging at 74 Auctions

Manheim has nearly tripled the number of auctions offering enhanced vehicle imaging (EVI), expanding from 25 to 74 locations throughout North America, the company said this week

Tags: Auto Auctions, Inventory Photos, Manheim, Marketing, Online Marketplace

September 27, 2016 - Industry News

Kontos: Average Wholesale Price in August Up 4.6% YOY

ADESA's chief economist reported this week that the continued strength of the truck segment drove a year-over-year increase in wholesale prices, while weak car sales contributed to a month-over-month price decline.

Tags: ADESA, Remarketing, Tom Kontos, Used Vehicles, Wholesale Pricing

September 27, 2016 - Industry News

LMC/J.D. Power: September Sales Expected to Fall Despite Record Incentives

For the fifth time in seven months, J.D. Power and LMC Automotive are predicting a year-over-year decline in new-vehicle retail sales for September. But officials with both firms said the numbers don't point to significant weakness or risk, but the firm does see challenges ahead.

Tags: Forecast, J.D. Power, LMC Automotive, New-Vehicle Sales, SAAR

September 27, 2016 - Industry News

Dataium Founder to Lead LotLinx's New Media Subsidiary

LotLinx Media Holdings, a new subsidiary of LotLinx, has named Eric Brown president, the company announced this week. The behavior data expert will focus on building up LotLinx's media properties and growing the business.

Tags: Hiring, LotLinx, President

September 27, 2016 - Industry News

Helion Offers Tips to Improve Phone Conversions

Thirty-one percent of incoming sales calls and 20% of incoming service calls never reach an agent, according to the call monitoring solution CallRevu. Helion Automotive Technologies' Erik Nachbahr says this statistic can be attributed to a dealership's poorly designed call flow.

Tags: Call Flow, Dealership, Phone Customers, Revenue

September 27, 2016 - Industry News

CareGard Appoints New President

CareGard has appointed Guy Koenig as its new president, the company announced on Monday. Koenig succeeds Wright Brewer, who is staying on as CEO and chairman and will continue to play a key role in the company’s growth.

Tags: CareGard, Hiring, President

September 27, 2016 - Industry News

ADESA Names Director of Dealer Relations

In his new role, Trent Strauss will lead the local auction dealer relations teams throughout the United States. He will also oversee deployment of the company’s national sales and dealer relations strategy.

Tags: ADESA, Dealer Relations, Promotion

September 22, 2016 - Industry News

Fed Leaves Rates Unchanged

While the industry welcomed the Fed’s 7-3 decision not to raise interest rates a quarter point, market watchers say even a full percentage-point increase wouldn’t impact the current pace of auto sales. The Fed is still expected to raise rates a quarter point by the end of the year.

Tags: auto finance, F&I manager, Federal Reserve, interest rates

September 22, 2016 - Industry News

Reynolds Now Offers 30 State-Specific F&I Documents Libraries

Reynolds Document Services has developed 30 state-specific Reynolds LAW brand F&I documents libraries, surpassing the midway point to its goal of creating document libraries for all 50 states.

Tags: Digital F&I, F&I Forms, F&I Products, Reynolds & Reynolds

September 22, 2016 - Industry News

CFPB Sues Five Arizona Auto-Title Lenders

The bureau charged the title lenders with violating the Truth in Lending Act for failing to disclose annual percentage rates in online loan advertisements. It is seeking civil monetary penalties and administrative orders requiring the companies to correct their practices.

Tags: auto finance, Auto Title Loans, CFPB, Compliance

September 22, 2016 - Industry News

Former Senior Manager for VW Joins Dent Wizard's KhS Business Unit

Dent Wizard International announced it has appointed Scott Goodwin as vice president of OEM services for the firm's Know How Systems (KhS) business unit. The 23-year veteran of vehicle logistics previously served as a senior manager for Volkswagen Group of America.

Tags: Dent Wizard, Hiring, Vice President

September 22, 2016 - Industry News

OptionSoft, CDK Lightspeed Announces Data Integration

The integration allows powersports, marine and RV dealers using OptionSoft's desking, CRM and F&I menu tools to pull sales, F&I, inventory, and customer data from the CDK Lightspeed DMS.

Tags: CDK Lightspeed, CRM, Desking, F&I menu, OptionSoft Technologies, Powersports

September 22, 2016 - Industry News

GSFS Group Launches F&I Performance Reporting Tool

The F&I product provider's Dealer Executive Dashboard provides dealers and agents with access to extensive claims analytics, customer retention data, performance reports, dealer comparisons, and participation structure information.

Tags: Agents, Dealers, F&I director, F&I performance, F&I reporting, GSFSGroup

September 20, 2016 - Industry News

Vroom Raises $50 Million in Latest Funding Round

Vroom announced the completion of a $50 million Series E funding round with new investors Altimeter Capital and Foxhaven Asset Management. The new financing brings Vroom’s total funding to $218 million since its founding in 2013.

Tags: digital retailing solutions, Online Buying, Vroom

September 20, 2016 - Industry News

Black Book: Used Leasing a Viable Strategy for Moving Glut of Off-Lease Vehicles

Black Book issued a white paper that suggests used leasing could be the answer to the glut of off-lease vehicles expected to return to market this year. While directed at finance sources, the white paper offers a four-step process dealers can use to identify the right vehicles for used leasing.

Tags: Black Book, Experian, Leasing, Used Leasing

September 20, 2016 - Industry News

S&P/Experian: Increase in Default Rates ‘Gives Little Reason for Concern’

The bank card default rate showed the only decrease in August, falling six basis points from July to 2.86%. Auto loan defaults rose eight basis points to 1.01%, but an official with the S&P Dow Jones Indices said the ‘overall credit picture gives little reason to be concerned about default rates.’

September 20, 2016 - Industry News

NAE Hires National Sales Manager

F&I product provider National Automotive Experts/NWAN named Ryan Nelson as its new national sales manager. He has been in the business since 1995 and most recently served as executive vice president for Spencer Re.

Tags: Hiring, National Automotive Experts, NWAN

September 20, 2016 - Industry News

Auto/Mate Now Offering Prescreens Through 700Credit

Auto/Mate Dealership Systems announced this week it has fully integrated its dealership management system with 700Credit's QuickScreen, a prescreen tool that now allows dealers to instantly access a customer’s credit profile directly from Auto/Mate's CRM.

Tags: 700Credit, Auto/Mate Dealership Systems, Dealership Systems, Prescreen, Soft Pull

« Previous12345678910...9596Next »