September 22, 2017 - Industry News
iA Financial Group, one of the largest life and health insurance companies in Canada, has signed an agreement to acquire shares of third-party administrator SouthwestRe and its insurance arm, Dealers Assurance Co. The acquisition is expected to more than double the firm’s vehicle warranty business.
Tags: Dealers Assurance Company, F&I products, iA Financial Group, Jim Smith, reinsurance, SouthwestRe, vehicle service contracts
September 21, 2017 - Industry News
The F&I product provider named Brian Stach to the post. The former vice president for Internet Brands will oversee all of GWC Warranty's field sales operations, including a nationwide team of area vice presidents, dealer consultants, and trainers.
Tags: F&I products, GWC Warranty, Used-Vehicle Service Contracts
House Republicans charged in a new report that the CFPB missed an opportunity to uncover Wells Fargo’s recently revealed insurance and GAP refund issues when it rushed to settle with the bank last year for opening unauthorized customer accounts. It also accused the bureau of withholding a memo backing its claims.
Tags: CFPB, House Financial Services Committee, Jeb Hensarling, Richard Cordray, Scandal, Wells Fargo, Wells Fargo Dealer Services
CitiFinancial has agreed to pay $907,000 to settle U.S. Department of Justice charges that it illegally repossessed vehicles sold to active-duty military members.
September 20, 2017 - Industry News
Beginning in the state of California, financing through Hyundai Capital America is now accessible to AutoGravity users searching for financing for Hyundai, Kia or Genesis.
Shoppers on Jumpstart Automotive Media’s portfolio of automotive publishers are gravitating toward the luxury sport, coupe, luxury sport sedan, and large SUV categories. But the two segments grabbing the most attention are alternative fuel vehicles and subcompact SUVs and CUVs.
Tags: BMW, Jaguar, Jumpstart Automotive, online shoppers, Toyota
TrueCar and Team Red, White & Blue have partnered to support Old Glory Relay, a 4,600-mile journey across America that will deliver a free van to a deserving veteran or active military member.
The new program combines the ‘as you drive’ benefits of the F&I product provider’s ancillary products, including dent-and-ding, windshield repair, interior/exterior repair, and key replacement, with a lease-end benefit.
Tags: dent-and-ding, F&I products, key replacement, lease, RoadVantage, windshield protection
CarStory Insights is a new feature that adds predictive analytics functionality to Vast’s artificial intelligence platform.
Gubagoo’s new Credit Pre-Qualification feature is designed to provide dealers with rich data they can use to prequalify customers during an online chat session.
Gubagoo has launched Outbound Texting, a new feature designed to add permission-based SMS texting to the company’s ResQ mobile and desktop app.
September 19, 2017 - Industry News
The subprime pullback continued in the second quarter. However, the big news was the continued shift toward used by consumers with prime and superprime credit.
Despite the nine-basis-point increase, the auto loan default rate remains near levels recorded one year ago. However, declining auto sales and the normal end-of-year push to make room for newer models may encourage easier credit conditions and raise concerns about future defaults.
Tags: auto defaults, auto finance, new-vehicle sales, S&P/Experian
Hearst Autos now has a new, permanent office in the Antique Row district of Chamblee, Ga., near Atlanta. According to officials, the overall idea of the new office space was to create an innovative and inspiring environment.
Automotive Finance Corp. and TradeRev are encouraging dealers to ‘go digital’ by offering zero interest and no floorplan financing fees for 45 days on vehicles bought and sold on TradeRev.
Michigan’s No. 1 import dealership has moved into a new, state-of-the-art facility in Auburn Hills, Mich. The 27,000-square-foot facility sits on 10 acres and has the capacity to sell and serve more than 500 cars per month.
Tags: facility upgrades, Kia, New Dealership, Richard Lalonde, Summit Place Kia
September 18, 2017 - Industry News
Sponsored by F&I Express, the awards program is designed to honor companies and individuals driving innovation in the digital F&I space.
Tags: AutoGravity, digital retailing, F&I Digital Media Awards, online F&I
The former vice president of sales for Dominion Dealer Services will be responsible for leading the entire InterActiveTel organization, as well as maintaining business development partnerships and driving the adoption of the company's suite of communication products.
Client Command’s new Active Shoppers Network was designed to generate more leads for auto dealers by delivering powerful audience data.
Former FordDirect executive and 20-year industry veteran John Gottschalk has joined LotLinx as senior vice president of client relationships.
September 14, 2017 - Industry News
U.S. Transportation Secretary Elaine Chao released a new set of voluntary federal guidelines for autonomous vehicles on Sept. 12 — a move the Trump administration said will make federal regulatory processes "more nimble to help match the pace of private sector innovation."
Tags: Autonomous Driving, Donald Trump, Fully Autonomous
Manheim and ADESA reopened their Florida auction facilities last week, as Hurricane Irma moved north toward Tennessee.
Tags: ADESA, Auctions, Hurricanes, Manheim
As many as 400,000 vehicles in Florida will need to be replaced as a result of Hurricane Irma, including as many as 11,000 fleet vehicles, according to Cox Automotive.
Tags: Hurricanes, Natural Disaster
AutoGravity capped off its two-category win in the 2017 F&I Digital Media Awards with recognition as the contest’s Grand Prize Winner at Industry Summit.
Accelerated Service International (ASI) has launched TruGAP, a new product designed to meet customers’ expectations for coverage and value and raise the bar for GAP coverage industrywide.
© 2017 Auto Dealer Today. All Rights Reserved.