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August 14, 2017 - Industry News

Report Forecasts Fewer Per-Store Sales

The latest edition of Urban Science’s Franchise Activity Report predicts a stable dealer network will produce reduced per-store sales following a period of stability.

August 14, 2017 - Industry News

Dave Anderson to Deliver Industry Summit, Best Training Day Ever Keynote Address

LearnToLead founder and nationally recognized leadership trainer Dave Anderson will deliver the Tuesday afternoon keynote address at this year’s Industry Summit as part of the Best Training Day Ever agenda.

Tags: Dave Anderson, Industry Summit, leadership, LearntoLead, training

August 10, 2017 - Industry News

Austin Found: Uber's Loss Was Dealers' Gain

A new study found that 41% of Austin, Texas, residents used their own vehicles when Uber and Lyft left town last year, and 9% bought a vehicle because the ride-hailing services weren’t available.

August 10, 2017 - Industry News

Fusion Auto Finance Acquires GrooveCar Family of Brands

The GrooveCar Family of Brands includes CU Xpress Lease, an auto lease program for credit unions with a portfolio exceeding $5 billion and more than 100,000 vehicles, and GrooveCar Direct, an online auto buying platform exclusively for credit union members. The acquisition also includes CU Xpress Lease CA, CUAutoCoupon, and GrooveCar Inc.

Tags: CU Xpress Lease, Fusion Auto Finance, GrooveCar

August 10, 2017 - Industry News

AFC Enhances Dealer Portal With Inventory Dashboard Tool

Available on the AFCDealer website and AFC On the Go mobile app, the new offering provides dealers with instant access to current and historical account information, as well as detailed insights into vehicles floored with the finance source.

Tags: Automotive Finance Corporation, Floorplan Financing, inventory financing

August 10, 2017 - Industry News

Toyota, Lexus Captives Add Key Replacement

The new protection is being offered as an added enhancement to the captives’ tire-and-wheel program and will be offered as a standalone product later this year. The product is being administered by Safe-Guard Products International.

Tags: auto finance, F&I products, key replacement, Lexus Financial Services, Safe-Guard, Toyota Financial Services

August 9, 2017 - Industry News

Lithia Adds $1 Billion Downtown Los Angeles Auto Group

Lithia Motors announced the acquisition of the Downtown Los Angeles Auto Group, a move executives say could add $1 billion in revenue and $0.55 in earnings per share.

August 9, 2017 - Industry News

N.J.’s Top Kia Dealer Acquires Additional Store in Toms River

Motivated by the success of his Kia dealership in New Jersey's Egg Harbor Township, Roy Greenblatt has acquired a second location in the state, the former Toms River Kia. The store has been renamed Matt Blatt Kia of Toms River.

Tags: Dealership, Kia, Matt Blatt Kia, merger and acquisition

August 9, 2017 - Industry News

GM’s Protection Coverage Group Selects MaximTrak’s Digital F&I Solutions

Chevrolet-Buick-GMC and Cadillac Protection is now onboarding and training GM’s U.S. dealers on MaximTrak’s Digital F&I Retailing Suite, which consists of interactive F&I menus, electronic contracting tools, dashboard reporting solutions, and a service drive menu.

Tags: Chevrolet-Buick-GMC and Cadillac Protection, dashboard tool, F&I menus, General Motors, MaximTrak Technologies, online F&I, RouteOne

August 8, 2017 - Industry News

F&I Think Tank: Shark Tank Trainers Revealed

Four of the industry’s top F&I trainers will be swimming the aisles during F&I Think Tank’s Shark Tank, a stump the pro-like session that will allow attendees to get answers to their most troublesome customer objections, deal situations and departmental issues.

Tags: American Financial & Automotive Services, Carl Grane, EasyCare, F&I process, F&I Think Tank, F&I training, Industry Summit, Jay Lawrence, John Vecchioni, National Auto Care, objection handling, Reahard & Associates, Rick McCormick, Shaka Dyson

August 8, 2017 - Industry News

Mind the GAP: Wells Fargo Faces New Charges

Wells Fargo has once again found itself under regulatory scrutiny following an internal review and external inquiry that may have uncovered funds owed to car buyers who purchased GAP and paid their loans off early.

Tags: auto finance, compliance, GAP, Wells Fargo Dealer Services

August 8, 2017 - Industry News

State AGs Urge U.S. Senate to Reject Resolution to Block CFPB’s Arbitration Rule

In a letter dated July 28, 21 state attorneys general called on U.S. Senate leaders to support the Consumer Financial Protection Bureau’s new arbitration rule and oppose the current attempt to overturn the rule under the Congressional Review Act (CRA).

Tags: Arbitration, auto finance, CFPB, compliance, Jeb Hensarling

August 8, 2017 - Industry News

Integrated Lending Technologies Certified to Offer RouteOne Econtracting

RouteOne announced the addition of Integrated Lending Technologies (ILT) to its roster of econtracting certified loan origination systems (LOS). Finance sources utilizing either of ILT’s systems will now benefit from a streamlined econtracting implementation process, officials said.

Tags: auto finance, econtracting, Integrated Lending Technologies, RouteOne

August 8, 2017 - Industry News

Top-Flight F&I Directors Join F&I Think Tank Roster

F&I Think Tank’s ‘The Director’s Chair’ will feature the F&I director for the magazine’s 2016 F&I Dealer of the Year in Tom Andrews, as well as former F&I Pacesetters Dan Mason and Justin Gasman. It will also feature His Madness, Marv Eleazer, as moderator.

Tags: Dan Mason, Ethical F&I Managers, F&I 20 Group, F&I director, F&I manager, F&I process, F&I Think Tank, F&I training, Industry Summit, Justin Gasman, Marv Eleazer, Tom Andrews

August 7, 2017 - Industry News

Gruber to Helm Leadership Panel at PALS

Kristen Gruber of Dealers Assurance Company (DAC) will moderate an all-star panel of leadership experts at the upcoming P&A Leadership Summit.

Tags: F&I products, Industry Summit, Kristen Gruber, National Automotive Experts, P&A Leadership Summit

August 7, 2017 - Industry News

Former NADA President and Foundation Chairman Robert P. Mallon Dies at 83

Robert P. Mallon, former president of the National Automobile Dealers Association and chairman emeritus of the National Automobile Dealers Charitable Foundation, died on August 3. He was 83.

Tags: NADA, Robert P. Mallon, WSADA

August 7, 2017 - Industry News

Jumpstart: Subcompact SUVs/CUVs Make Gains in First Half of 2017

Analysts with Jumpstart Automotive Media say interest in subcompact utilities outpaced other segments compared to the first half of 2016.

August 7, 2017 - Industry News

Manheim Used Vehicle Value Index Posts Third Consecutive Record

The index’s July reading shows that demand is absorbing the high supply of newer used vehicles. The good news on the new side is that inventories fell below four million and are at their lowest level of the year.

Tags: CPO, Manheim, Manheim Index, new-vehicle sales, used-vehicle values

August 7, 2017 - Industry News

Clarivoy Releases 2017 Attribution Study

Clarivoy’s analysts found dealers see the wisdom in tracking digital marketing attribution but may not have the tools they need to do so accurately.

August 7, 2017 - Industry News

Compliance Expert Jim Ganther Joins PALS Roster

Attorney and compliance expert Jim Ganther will present ‘Providers’ Role in Dealership Compliance’ at the upcoming P&A Leadership Summit.

Tags: compliance, F&I product provider, Industry Summit, Jim Ganther, P&A Leadership Summit

August 7, 2017 - Industry News

CareGard to Open Offices to Industry Summit Attendees

Agents attending this year’s Industry Summit in Grapevine, Texas, can schedule a time to visit CareGard’s nearby headquarters.

Tags: CareGard, F&I products, general agents, Industry Summit

August 3, 2017 - Industry News

Drive Motors Raises $5.2 Million in Seed Funding

The digital retailing solution provider will use its new funding to expand its dealership network and develop more features to streamline the car-ownership experience, officials said.

Tags: digital retailing, Drive Motors, Ecommerce, online F&I

August 3, 2017 - Industry News

Black Book Covers Trade Appraisal Best Practices in New White Paper

The firm's white paper sheds light on the disconnect between consumers and many dealers when it comes to trade appraisals. It also explores what’s at stake when a consumer introduces a trade-in as a part of the transaction.

Tags: Black Book, price quotes, trade-in value, used-vehicle values

August 2, 2017 - Industry News

KBB: New-Car Transaction Prices Rise Nearly 2% in July

Thanks to declining car sales and the popularity of SUVs, July's average transaction price increased by $573 from a year ago to $34,721.

August 1, 2017 - Industry News

Authenticom's 'Stunning Victory' in Antitrust Suit on Hold

Five days after announcing a ‘stunning victory’ in its antitrust suit against CDK and Reynolds, Authenticom today learned it will have to wait seven days to see if the Seventh Circuit will hear the DMS providers’ appeal of the preliminary injunction confirmed on Friday by the federal court judge hearing its suit.

Tags: Authenticom, CDK Global, Cyber Security, DMS, integration, Reynolds & Reynolds, software, Steve Cottrell