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June 24, 2014 - Industry News

Dealership Buy/Sell Activity Jumps 60% in Q1

The Kerrigan Quarterly Blue Sky Report also finds that blue sky pricing remains high for most franchises, with the market having established a pricing floor.

Tags: BMW, First Quarter, Honda, Lexus, Mercedes-Benz, Porsche, Report, Toyota, Vehicle Sales

June 18, 2014 - Industry News

Digital Air Strike Integrates With Edmunds

The integration allows a dealership’s DMS to trigger a customer survey and seamless feed that feedback to

Tags: Customer Reviews, Digital Air Strike,, Systems Integration

June 18, 2014 - Industry News

Percentage of Older Vehicles in Operation Reaches Five-Year High, Experian Reports

More consumers are sticking with their older model vehicles, with vehicles predating the 2001 model year accounting for more than 28.3% of all vehicles on the road during the opening quarter of 2014, according to Experian Automotive.

Tags: Experian Automotive, pent up demand, Study

June 18, 2014 - Industry News

EasyCare Introduces New Bundled Option

The EasyCare Select package can be offered as an added value giveaway with available upgrades, or as a standalone package of benefits.

Tags: dent-and-ding, EasyCare, F&I products, paint and fabric

June 11, 2014 - Industry News

Wholesale Prices Soften in May

The softening of wholesale prices in May could be a precursor to further softening, according to Tom Kontos, chief economist for ADESA Analytical Services.

Tags: ADESA, Autodata Corp, CNW Research, Tom Kontos, Wholesale Pricing

June 11, 2014 - Industry News

June Incentives, Lease Deals Strong, Reports

May turned out to be the second highest month for incentive spending so far this year. And doesn’t expect OEMs to take their foot off the incentive pedal anytime soon.

Tags:, incentives, trucks

June 11, 2014 - Industry News

Palo Verde Holdings Celebrates 15th Anniversary

Palo Verde Holdings Ltd., the noncontrolled foreign corporation of CNA National Warranty Corp., has grown its investment portfolio to nearly $150 million since it was founded in 1999.

Tags: CNA National, extended warranties, GAP, Tire and Wheel

June 9, 2014 - Industry News

EFG Companies Awarded ASE Blue Seal of Excellence

The National Institute of Automotive Service Excellence’s Blue Seal of Excellence signifies the level of expertise and knowledge of repair shop technicians and claims administrators.

Tags: Awards, EFG Companies, Hyundai

June 9, 2014 - Industry News

7 Financial Organizations Back Disparate Impact Amendment

Rep. Scott Garrett’s amendment to H.R. 4660 would prohibit funds made available by the act from being used for litigation that relies on the disparate impact theory.

Seven financial organizations issued a letter to the U.S. House of Representatives on May 29 in support of an amendment to an appropriations bill that would limit Justice Department litigation relying on the disparate impact theory of discrimination.

Tags: amendment, Consumer Financial Protection Bureau, Department of Justice, discrimination, disparate, legislation

June 9, 2014 - Industry News

Average Vehicle Age Remains Steady at 11.4 Years

The combined average age of all light vehicles on the road in the U.S. remained steady at 11.4 years. IHS says the average age is likely to remain at 11.4 years through 2015.

Tags: IHS Automotive

June 4, 2014 - Industry News

Consumers Believe Honda, Mercedes Provide Highest Quality, ALG Reports

Car buyers believe Honda and Mercedes-Benz deliver the highest quality vehicles, according to a report from ALG.

Tags: ALG, BMW, Honda, Lexus, Mercedes-Benz, Toyota, TrueCar, vehicle quality, Volkswagen

June 4, 2014 - Industry News

May Depreciation Levels Reveal Signs of Summer Slowdown, Black Book Reports

The average price of a used vehicle dipped slightly in May, according to Black Book. Analysts with the firm said they expect higher depreciation between now and the end of the year.

Tags: Black Book, BMW, Cadillac, car prices, Chevrolet, Ford, Honda, Mercedes-Benz, Toyota, used vehicles, used-vehicle values, vehicle depreciation

June 4, 2014 - Industry News

KBB: New-Car Transaction Prices Rise in May

May transaction prices for new vehicles were up 2.1% from a year ago. Compared to April, however, transactions prices were down $79, according to Kelley Blue Book.

Tags: Acura, Chrysler, Kelley Blue Book, Light-Vehicle Sales, transaction prices, Volkswagen

May 29, 2014 - Industry News

CPS to Pay $5.5 Million to Settle FTC Charges

The FTC charged the subprime finance source with using illegal tactics to service and collect on consumer loans, including collecting money consumers did not owe, harassing consumers and third parties, and disclosing debts to friends, family and employers.

Tags: Collections, CPS, FTC, subprime auto finance

May 29, 2014 - Industry News

CFPB Engaged in Fair-Lending Actions Against Six Auto Lenders

Citing an unnamed source, Auto Finance News reported earlier this month that the CFPB is engaged in fair-lending actions against six finance sources. Bureau officials decline to comment.

May 28, 2014 - Industry News

Sales Pick Up in Late May

CNW reported this week that sales picked up in late May, with the firm expecting deliveries for the month to increase 11% from a year ago.

Tags: Art Spinella, Auto Sales, CNW Research, Subprime Approvals

May 27, 2014 - Industry News

The Next Up Adds Capabilities for Finance and Service Departments

The firm has expanded its Web-based system to include applications for a dealership’s finance and service departments. These new applications allow management to view real-time stats and track the time managers spend with customers.

Tags: CRM, Finance, Service

May 22, 2014 - Industry News

NADA: U.S. Dealers Employ More Than 1 Million People

The number of people employed by the automotive retail industry topped the 1 million-person mark last year, with the average new-car dealership employing, on average, 57 people, the NADA reports.

Tags: employment, NADA, National Automobile Dealers Association, New-Car Sales

May 22, 2014 - Industry News

Biweekly Payment Providers Offer Unified Response to NADA Memo

Four providers of biweekly payment providers responded on May 20 to a memo the NADA issued to its members on May 8. They say the association overlooked key benefits when it cautioned dealers about how such products are presented to consumers.

Tags: biweekly payment, NADA, National Automobile Dealers Association, SMART Payment Plan, US Equity Advantage

May 21, 2014 - Industry News Service Department Reputation a Key Factor in Car-Buying Decision

A recent survey commissioned by found that more than half of car shoppers seek out reviews for a dealership’s service department before purchasing a vehicle.

Tags: Car Shopping,, Service

May 20, 2014 - Industry News

Reynolds Integrates Payment Solution Into DMS

The Reynolds and Reynolds Co. and Global Payments Inc. announced an agreement this week to offer point-of-sale, electronic payment solutions for automotive dealerships.

Tags: DMS integration, Reynolds & Reynolds

May 20, 2014 - Industry News

TrueCar Announces Pricing of Initial Public Offering

Last week, TrueCar announced the pricing of its initial public offering of 7,775,000 shares of its common stock at a price to the public of $9 per share.

Tags: initial public offering, IPO, TrueCar

May 20, 2014 - Industry News

Edmunds: Car Shoppers Don’t Focus on Rock-Bottom Price

Most car shoppers don't fixate on a rock-bottom price, especially if they can avoid long and tense negotiations with fair upfront pricing, according to a report from

Tags: car prices, Car Shopping,, Mobile, used vehicles

May 15, 2014 - Industry News

DOJ Investigating Fifth Third Bank’s Auto Lending Practices

Photo via Flickr.

Fifth Third Bancorp revealed in a regulatory filing this month that its indirect auto loan portfolio is being examined by the Department of Justice to determine whether the finance source engaged in discriminatory practices.

Tags: Auto Loans, CFPB, Consumer Financial Protection Bureau, Department of Justice, discrimination, Fifth Third, Investigation

May 14, 2014 - Industry News

Calif. New-Vehicle Registrations Up 5.4% in Q1

New-vehicle sales in California improved for the 14th consecutive quarter in the opening quarter of 2014, with new-vehicle registration increasing 5.4% from a year ago, according to the state association.

Tags: Brian Maas, California New Car Dealers Association, Honda, Hybrid Vehicle, Tesla Motors, Toyota