July 30, 2018 - Industry News
National Auto Care Corp. has been acquired by Lovell Minnick Partners, a Philadelphia-based private equity firm.
July 25, 2018 - Industry News
Sergio Marchionne, former CEO of Fiat Chrysler Automobiles and Ferrari N.V., has died following complications from surgery.
July 18, 2018 - Industry News
Penske said today it intends to integrate electronic document management to improve workflow and efficiency and install the Reynolds docuPAD system in F&I departments across more than 120 Penske dealerships.
Tags: docuPAD, eWorkflow, F&I process, Penske Automotive Group, Reynolds & Reynolds
July 26, 2018 - Industry News
Wells Fargo's continued runoff of its auto loan portfolio resulted in a $10.3 billion year-over-year decline in auto loan balances in the second quarter, but executives said the bank is positioned to begin growing its auto finance business once again.
Tags: auto finance, CFPB, compliance, OCC, sales scandal, Wells Fargo
July 12, 2018 - Industry News
The compliance sweep, which took place in seven states, is the first since the agency's new Used Car Rule took effect earlier this year. Dealers who failed to comply could face penalties of up to $41,484 per violation.
Tags: compliance, Federal Trade Commission, Used Car Guide, used cars
June 20, 2018 - Industry News
Dealers and dealership personnel have recognized 70 companies and individuals in 34 categories in the 2018 Dealers’ Choice Awards.
July 16, 2018 - Industry News
The deal was first reported on Sunday by The Banks Report, which described the pending acquisition as checking off 'several boxes for CDK while filling a big product hole — a viable integrated CRM platform with significant market share.'
Tags: CDK Global, CRM, digital marketing, digital retailing, DMS, ELEAD1ONE, online F&I
The company reported that 45% of vehicles sold in the first half were to digital buyers on Manheim.com. The firm also detailed enhancements it’s planning to make to the Manheim Marketplace over the next few months.
Tags: Auto Auctions, digital, Manheim, Manheim Marketplace, RMS Automotive
Ally and the National Association of Minority Automobile Dealers honored Karmala Sutton, a dealer in training at Honda of Kenosha in Bristol, Wis.
July 17, 2018 - Industry News
Alex Mallman, who most recently served as president and CEO of Mercedes-Benz Auto Finance China, replaces AutoGravity’s co-founder and CEO Andy Hinrichs, who left in May, according to the Orange County Business Journal.
Tags: AutoGravity, Daimler Financial Services, digital retailing, online F&I
April 18, 2018 - Industry News
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
July 23, 2018 - Industry News
Fiat Chrysler Automobiles has named Ram truck and Jeep head Michael Manley as its chief executive officer, after medical complications forced Sergio Marchionne to step away from the company.
Tags: Fiat Chrysler, Jeep, Mike Manley, Ram, Sergio Marchionne
August 13, 2018 - Industry News
Cox Automotive announced the launch of its Mobility Solutions Group, coinciding with and accelerated by the acquisition of Clutch Technologies.
July 31, 2018 - Industry News
LexisNexis Risk Solutions finds auto dealers and other retailers are facing fraud on an unprecedented scale, including a 30% increase in the number of successful fraudulent transactions since 2017.
Dent Wizard International has acquired Image Auto, a regional provider of recon and wheel repair services.
August 2, 2018 - Industry News
According to the regulator, this was the FTC’s first action alleging income falsification by dealerships. Charged are the owners of Tate’s Auto Group, which operates four dealerships in Arizona and New Mexico, near the border of the Navajo Nation.
Tags: auto finance, compliance, Federal Trade Commission, income falsification, Tate's Auto
July 19, 2018 - Industry News
June wholesale prices for used vehicles up to eight years in age fell by an average of 0.9% compared to May. Losses at the segment level were less than historic norms across the board on both the mainstream and premium sides of the market, the firm said.
Tags: Auto Auctions, J.D. Power Valuation Services, Wholesale Pricing
Industry Summit’s annual ‘From the Boardroom’ session will feature executives from F&I product providers and software firms, who will tackle the big questions facing F&I offices as the industry continues to push for a more digitized car-buying experience.
Tags: compliance, digital retailing, F&I process, F&I products, Industry Summit, online F&I, Showroom
Capital One announced gains in its auto finance division even as directors acknowledged increasing competition in the subprime space.
August 6, 2018 - Industry News
Online F&I will be a key focus at Industry Summit 2018, which will allow dealers to learn about the challenges and opportunities ahead for the F&I product side of the business while their F&I teams get compliance certified and trained by the best in the business.
Tags: Ask Frenchy, Automotive Compliance Education, Compliance Summit, F&I training, Industry Summit, objection handling, PALS
With today’s announcement, Black Book valuation data will be integrated with all EVs listed in the MYEV.com system, which will help buyers and sellers ensure they’re reviewing the most accurate and up-to-date valuations within the market.
Tags: digital marketing, digital retailing, lead generation, MYEV.com, Third-party leads
Dealers and sales and F&I professionals are invited to register for Industry Summit 2018, a unique training, compliance certification, and networking opportunity set for October in Orlando, Fla.
The software firm's Virtual Service Advisor is now integrated with Autosoft's DMS. GoMoto users can now open repair orders, update customer appointments and information, and offer trade appraisals and upsell every customer.
Tags: Autosoft, DMS, GoMoto, service lane, software, technology
July 24, 2018 - Industry News
Companies and individuals at the forefront of sales and F&I technology are invited to participate in Technology Shootout, a new feature planned for October’s Industry Summit.
Vernon ‘Ray’ Branch, founder of fixed ops solutions provider KEEPS Inc., has retired at the end of a 25-year run.
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