Top News

May 4, 2017 - Industry News

Houston Woman Demands New Truck From Toyota Dealer

Elizabeth McClung has started a social media campaign aimed at convincing Sterling McCall Toyota to give her a new Tundra to replace an older truck that was stolen from the dealership’s service center.

May 8, 2017 - Industry News

Sarasota Ford Featured in New Facebook Business Success Story

Sarasota Ford was the subject of a recent Facebook Business feature, which highlighted the dealership's work with Dealers United on an ad campaign that generated 30,185 video views and five vehicle sales within 30 days.

Tags: digital marketing, facebook advertising, Sarasota Ford

May 9, 2017 - Industry News

Manheim Announces Selection of Two Sales Execs

Peter Grupposo has been promoted to vice president of dealer sales while Holly Capps joins the company as vice president of inventory solutions commercial and vehicle sales.

May 11, 2017 - Industry News

GM Financial Completes Transition to Captive in Q1

Executives with the former AmeriCredit Corp. described GM Financial’s transition to General Motors’ captive finance source as ‘substantially complete’ during its recent first-quarter earnings call.

Tags: auto finance, GM Financial

May 4, 2017 - Industry News

TEGNA Board Approves Spin-Off of Cars.com

With the approval, the separation of the two brands is expected to be completed on May 31. While the spin-off still requires regulatory approval, Cars.com shares are expected to begin trading June 1 on the New York Stock Exchange.

Tags: Cars.com, digital marketing, TEGNA, third-party sites

May 3, 2017 - Industry News

Canadian Ford Dealer Goes Fully Digital

Alberta Koch Automotive Group unveiled its new ecommerce platform with a relaunch of the Koch Ford Lincoln website.

May 4, 2017 - Industry News

Sonic: Record F&I Performance Offset by Lower Retail Sales

Sonic's F&I operations posted a record per-copy average of $1,370. But with new-vehicle retail volume down 2%, total same-store F&I gross profit remained flat with a year ago. Officials also talked expansion of the EchoPark platform and the expected roll out of an ecommerce site next year.

April 27, 2017 - Industry News

Lithia: More Acquisitions, More F&I Money

Lithia Motors’ first-quarter results include continued gains in F&I penetrations and revenue, a result the dealer group credits to its aggressive acquisition strategy.

Tags: F&I products, fixed operations, Lithia Motors, used-vehicle sales, used-vehicle values

May 4, 2017 - Industry News

Asbury Hits $1,500 Per Copy in Q1

Describing F&I as 'very fundamental' to its success, Asbury CEO Craig Monaghan said the group will continue to push for improvements in that area as long as 'margin pressure' continues to squeeze the showroom.

April 27, 2017 - Industry News

Trade-In Quotes Critical Factor in Consumer-Buying Decisions, Study Finds

According to an online survey conducted by Black Book, 46% of the 2,100 consumers polled said getting the right trade appraisal was either ‘very important’ or ‘extremely important’ to pulling the trigger on a vehicle purchase.

Tags: Black Book, Car-Buying Experience, Trade-In Appraisal

April 24, 2017 - Industry News

TrueCar Set to Launch Trade Valuation Platform

Promising a ‘transparent and real-time’ tool, TrueCar Trade will launch as a six-month pilot program in partnership with R. Hollenshead Auto Sales and Galves Market Data.

May 23, 2017 - Industry News

ADT Announces 2017 Dealers’ Choice Awards Winners

Auto Dealer Today named the winners of the 13th annual Dealers’ Choice Awards.

May 9, 2017 - Industry News

Manheim Promotes Three to GM

Dave Rathjens, Greg Milam and Martin Sandoval have been promoted to general manager of their respective markets in Lakeland, Fla., Seattle and Central California.

May 3, 2017 - Industry News

Group 1: Earnings Hurt by 'Extreme Weakness' in Oil-Dependent States

Not even another strong performance in U.S. new-vehicle margins, a record quarter in the group's U.K. market, and a profitable quarter in Brazil were enough to offset "extreme weakness" in Group 1's energy price-impacted markets.

Tags: F&I profit, Group 1 Automotive, new-vehicle sales, used-vehicle sales

April 18, 2017 - Industry News

Dealers Can Now Use Uber as a Shuttle Service

Uber today launched a new business program dealers can use to order rides for service customers. The new offering is the ride-hailing firm’s first one-to-many ride product.

April 10, 2017 - Industry News

Morgan Stanley: Used-Car Values Could Fall by 50%

A new report from Morgan Stanley identifies several key factors that could cut used-car values in half by 2022.

Tags: auto finance, Morgan Stanley, Stretching Loan Terms, Subprime Financing, used-vehicle pricing, vehicle depreciation

April 27, 2017 - Industry News

Submission Deadline for F&I Digital Media Awards Extended

Program designed to spur friendly competition among digital marketers industrywide will accept entries until May 12.

Tags: digital marketing, digital retailing, F&I Express, online F&I

May 16, 2017 - Industry News

Berman Resigns as President, COO of AutoNation

William “Bill” Berman, who is credited with developing AutoNation's processes for used-vehicle sales and customer care, has resigned. Chairman and CEO Mike Jackson has assumed his duties until a replacement is named.

Tags: AutoNation, Dealer Group, Mike Jackson, Promotions, William Berman

May 11, 2017 - Industry News

Ally Adding Digital Signature, Contract Management Capabilities to Clearlane

Launched in April, Clearlane will soon be getting an upgrade. Through eOriginal, the auto finance marketplace will soon allow car buyers to sign and submit their financing documents online or via mobile devices.

Tags: Ally, auto finance, Clearlane, digital retailing, online F&I

April 17, 2017 - Industry News

Dealers Lead Nation in Pursuit of Leads

A new study finds dealers as a group are outpacing other U.S. business owners in lead follow-up — despite countless missed opportunities. Photo by Andrew Malone

A new report finds dealerships put other businesses to shame when it comes to lead follow-up, but there is room for improvement.

May 2, 2017 - Industry News

AutoNation’s Jackson: New Tech Could Hurt Used Cars

Morgan Stanley analyst Adam Jonas engaged AutoNation Chairman and CEO Mike Jackson in a frank discussion about whether new safety technology could hasten the obsolescence of used units.

May 1, 2017 - Industry News

RMS, Manheim Offer Early Access to Manufacturers' Premium Off-Lease Inventory

Through the new co-listing capability, dealers can gain access to vehicles listed on manufacturers’ digital sales platforms powered by RMS Automotive before they cross the auction block.

Tags: Manheim, Off-Lease Vehicles, RMS Automotive, used-vehicle values

April 26, 2017 - Industry News

CFPB Fines SNAAC for Violating 2015 Consent Order

Security National Automotive Acceptance Co. agreed to pay $1.25 million to settle the bureau's charges that it failed to pay $2.275 million in consumer redress for illegal debt-collection tactics under the regulator's October 2015 order. But the company did so without admitting to the CFPB's finding, company officials said.

Tags: auto finance, CFPB, compliance, Security National Automotive Acceptance Corporatio, SNAAC

May 10, 2017 - Industry News

eBay Motors Integrates TrueCar Shopping Tools

The partnership with TrueCar was one of a series of announcements made by the ecommerce site, which debuted an improved look to its website and tire installation services.

Tags: digital retailing, eBay Motors, online F&I, Third-party leads, TrueCar

April 26, 2017 - Industry News

KBB: April Sales Expected to Fall 3%

Strong sales of the redesigned Impreza have helped put Subaru in position for a record April despite tepid numbers industrywide. Photo courtesy Subaru of America Inc.

A ‘weaker-than-expected’ March and an abbreviated April prompts Kelley Blue Book to reduce its 2017 new-vehicle sales forecast. It calls for sales in the range of 16.8 million to 17.3 million units, which would represent the first down year for the industry since 2009.