Top News

July 14, 2016 - Industry News

NADA to Hold 100 Carnival Event at 2017 Convention

The event — which is exclusive to NADA and American Truck Dealers members — will be held at Mardi Gras World on Jan. 26, 2017. It will feature cuisine from top New Orleans restaurants and entertainment from Foreigner, Cowboy Mouth and local jazz musicians.

Tags: NADA, NADA Convention and Expo

October 16, 2018 - Industry News

GM Rolls Out Optional Extended Warranty

The new extended ‘bumper-to-bumper’ warranty isn’t designed to act like a dealer-offered service contract. Repairs can be completed without filing a claim and there are no deductibles. The option also is included in a vehicle’s overall price.

Tags: extended warranties, General Motors, service contract

October 3, 2018 - Industry News

Edmunds: Auto Loan Interest Rates Climb Back to Pre-Recession Levels

With September in the books, Edmunds reported this week that interest rates have stayed above 5% for eight months in a row and now mirror levels not seen since before the Great Recession.

Tags: APR, Auto Loan Terms, Auto Loans, Edmunds, interest rates, new-vehicle financing

September 27, 2018 - Industry News

Fed Reserve Approves Third Rate Hike of 2018

FOMC Chairman Powell answers reporters' questions during Wednesday's press conference.

The Federal Reserve on Wednesday raised interest rates for the third time this year and signaled it will raise the cost of borrowing again in December. Industry economists said it will not get better for consumers or the industry from here.

Tags: auto affordability, consumer confidence, Federal Reserve, interest rates, Monthly Payments, new-vehicle sales

September 26, 2018 - Industry News

Cox: September Sales to Decline 7.2% From Year-Ago Levels

Despite the expected volume decline, the firm put September’s seasonally adjusted annual sales rate at a healthy 17.1 million, down from last September’s 18.1 million SAAR. The company said higher interest rates and talks of tariffs may be having some pull-ahead impact in the market.

Tags: consumer confidence, Cox Automotive, interest rates, new-vehicle sales, SAAR, Tariffs, unemployment rates

October 2, 2018 - Industry News

DealerSocket Reaches Major Milestone

The technology firm this week announced that more than 100 million vehicles have been sold through its software platforms since the company was founded out of the garage of co-founders Brad Perry and Jonathan Ord.

Tags: CRM, DealerFire, DealerSocket, digital, DMS, Inventory+, Precise Price, software

October 9, 2018 - Industry News

Manheim to Invest $100 Million in Digital

Manheim announced an initiative to ramp up investments designed to deliver the ‘marketplace of the future’ for dealers and car buyers.

September 24, 2018 - Industry News

FTC: Credit Freezes Are Now Free

The FTC issued a reminder that, starting today, consumers can freeze their credit and place one-year fraud alerts for free under the new Economic Growth, Regulatory Relief, and Consumer Protection Act.

September 19, 2018 - Industry News

FTC Shuts Down Websites Offering Fake Pay Stubs for Sale

The operators of websites that sold fake pay stubs and other financial documents have agreed to permanently shut down their business as part of separate settlements with the Federal Trade Commission, the regulator announced this week.

Tags: compliance, F&I office, Federal Trade Commission, fraud, pay stubs

September 26, 2018 - Industry News

Spireon: Impounds a ‘Billion-Dollar Problem’ for Dealers

Spireon has released ‘Impound Storage Fees, a Billion-Dollar Problem,’ a new study billed as the first to address the steep costs rampant impounds generate for dealers, finance sources, and car buyers.

September 17, 2018 - Industry News

Affinitiv: Caldwell & Kerr Acquisition Creates ‘Full-Service’ Platform

Affinitiv has acquired Caldwell & Kerr Enterprises, forming a strategic partnership designed to enhance digital capabilities for a combined customer base.

October 15, 2018 - Industry News

Podium Named to Forbes’ Billion-Dollar Startups List

Podium is one of 25 companies to appear on Forbes’ 2018 list of America’s ‘Next Billion-Dollar Startups.’

October 22, 2018 - Industry News

Cox: Mobility Will Reduce Dealership Count

A Cox Automotive survey found that dealers are even more certain than consumers that emerging trends will reduce vehicle sales, but few believe mobility will bring about the end of the current auto retail model.

September 24, 2018 - Industry News

DealerSocket Unveils Next-Generation Website Platform

ENGINE 6 is an upgraded website builder tool offering drag-and-drop functionality to eliminate the need for coding. It's optimized for mobile and features a multi-device preview mode. The website platform is being initially offered to independent and BHPH dealers.

Tags: DealerFire, DealerSocket, ENGINE 6, Mobile, software platform, website builder

October 8, 2018 - Industry News

Roadster Launches Desking Solution

Express Desking integrates directly into a dealership’s branded Express Storefront, and allows sales agents to instantly message their desk managers, gain approvals on deal terms, and customize payment menu options without ever having to leave the customer’s side.

Tags: digital, digital retailing, online F&I, Roadster, software

October 1, 2018 - Industry News

Boston Volvo Celebrates Grand Opening of New Flagship Store

Bob Jacobs, head of marketing, communications, and product strategy at Volvo Car Group; Ray Ciccolo; Anders Gustafsson; Rick Bryant, executive vice president of sales operations at Volvo Cars USA

The opening marks the revival of the historic Allston building, located 61 North Beacon Street in Allston, Mass. The new store utilizes three floors of building, occupying 42,000 of the total 71,300 square feet.

October 1, 2018 - Industry News

Dealer Panels Set for Compliance Summit

The upcoming Compliance Summit will feature two panel discussions staffed by dealer counsel and personnel from around the nation.

September 20, 2018 - Industry News

DealShield Launches 30-Day Return Guarantee

Responding to dealer feedback, the Cox Automotive brand has added a 30-day return option to its DS360 wholesale risk management offering. The guarantee is now available at 100 auction sites, guaranteeing 1.3 million vehicles.

Tags: Auto Auctions, Cox Automotive, DealShield, Manheim, Wholesale

June 20, 2018 - Industry News

ADT Announces Winners of 2018 Dealers’ Choice Awards

Dealers and dealership personnel have recognized 70 companies and individuals in 34 categories in the 2018 Dealers’ Choice Awards.

October 3, 2018 - Industry News

Survey: Premium Audio Drives New-Car Selection

Premium-brand audio systems remain an important deciding factor for car buyers, according to the latest report from IHS Markit.

October 2, 2018 - Industry News

KBB: Average New-Car Transaction Price Up 2%

Honda, GM, and Ford were among the top-performing factories in September, helping to drive an average gain of 2% in new-vehicle prices compared with the same month last year.

September 20, 2018 - Industry News

Burt Reynolds Collection Goes to Auction

Las Vegas’ Mandalay Bay Resort will be the site of a Barrett Jackson auction of vehicles personally owned by late actor Burt Reynolds.

September 24, 2018 - Industry News

ACV Wins Stevie Gold

ACV Auctions won a gold award in the 2018 Stevie Awards for Great Employers.

September 25, 2018 - Industry News

Karma to Open Dealerships in Seattle, Chicago, SoCal

Electric vehicle manufacturer Karma is set to open new dealerships in Seattle, Chicago, and Westlake Village, Calif.

October 1, 2018 - Industry News

Calif. Governor Vetoes Dealer Protection Bill

In an unexpected decision, California Gov. Jerry Brown vetoed a dealer protection bill unanimously passed by the California State Legislature. The sticking point was a 'complex formula' for determining dealer reimbursement on warranty and recall work.

Tags: California New Car Dealers Association, California State Legislature, Franchise Laws