Top News

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May 19, 2016 - Industry News

DealerRater Releases iOS Version of Mobile App

The app is designed to help dealerships build trust, lower apprehension, and accelerate a successful showroom by allowing employees to communicate with customers earlier in the sales process.

Tags: Dealer Review Sites, DealerRater, Dealerships, Mobile Applications

May 19, 2016 - Industry News

DealerSocket Adds New Functionalities to Mobile CRM App

DealerSocket has upgraded its mobile CRM, adding a mobile driver’s license scanner, push alerts for website visits and the ability to attach images and videos to outgoing emails within the mobile application.

Tags: Buy-Here Pay-Here, Mobile Applications, NABD

May 19, 2016 - Industry News

Labor Department Publishes New Overtime Pay Rule

The finalized rule updating overtime regulations will automatically extend overtime pay protections to more than four millions workers within the first year of implementation. The NADA said it is developing outreach materials on the rule’s impact on dealerships and is evaluating potential participation in potential litigation and Congressional oversight.

Tags: employment, Fair Labor Standards Act, U.S. Department of Labor

May 19, 2016 - Industry News

Wise F&I Integrates With MenuSys

The connection will allow dealers to rate and contract Wise F&I's product line electronically through MenuSys, ensuring up-to-date pricing and product information.

Tags: eContracting, F&I Products, Menu, MenuSys, Online, Wise F&I

May 19, 2016 - Industry News

LoJack Recovered $112 Million in Stolen Vehicles in 2015

The most targeted vehicles were those worth more than $30,000. However, the average value of recovered vehicles in 2015 was $10,287. Thieves are also targeting specific vehicle colors, with black and white cars accounting for 20% and 18% of vehicles recovered, respectively.

Tags: California, Florida, LoJack, Stolen Vehicle, Texas

May 19, 2016 - Industry News

Calif. New Light Vehicle Registrations Exceed 500,000 Units in Q1 2016

The 500,000 units sold in the first three months of the year has California dealers on track to sell more than million units in 2016, according to the California New Car Dealers Association.

Tags: California New Car Dealers Association, CNCDA, New Vehicles, Registrations, Used Vehicles

May 18, 2016 - Industry News

Reuters: Trump to Release Plan for Dismantling Dodd-Frank

Republican Presidential candidate Donald Trump told Reuters he would release a plan in about two weeks for overhauling the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act.

Tags: CFPB, compliance, Donald Trump, rate markup

May 18, 2016 - Industry News

Motor Vehicle Software Corp. Launches Automated ERT Platform

The platform is designed to enable vehicle-to-government transactions across the entire lifecycle of a vehicle. After the platforms launch in Oregon, the company plans to expand it to California, Virginia and Illinois by the end of the year.

Tags: Electronic Registration, Electronic Titling, Electronic Transactions, Motor Vehicle Software Corp.

May 18, 2016 - Industry News

New Dry-Erase Hang Tags Offer Potential Cost Savings

The hard plastic, dry-erase tags give dealers the ability to reuse them instead of throwing them away, as is the case with traditional paper tags. These tags also eliminate the possibility of misprints due to their dry-erase nature.

Tags: Dealership, Hang Tags, Products

May 18, 2016 - Industry News

Selly Automotive Announces Integration With Skywerks DMS

The integration will eliminate redundancies while increasing dealer efficiency, according to the announcement. Now both new and existing Skywerks dealers will be able to take advantage of the Selly Automotive platform, the announcement adds.

Tags: CMS, DMS, Selly Automotive, Skywerks

May 18, 2016 - Industry News

Hyundai Santa Fe Sport Earns IIHS TOP SAFETY PICK+

The TOP SAFETY PICK+ is IIHS’ highest award. In order to receive this award, a vehicle must attain a good rating in the institute’s five occupant protection tests and an advanced or superior rating for an available front crash prevention system.

Tags: Awards, Hyundai, IIHS, IIHS Top Safety Pick, NHTSA, Santa Fe

May 18, 2016 - Industry News

CFPB: 20% of Single-Payment Auto Title Loans End in Repossession

A report form the CFPB found that about 20% of auto title loan borrowers end up having their car or truck seized by the lender for failing to repay their debt. Eighty percent fall into a debt trap, with more than 66% having to take out seven or more consecutive loans to fully repay their debt.

Tags: CFPB, Payday Lending, Report, Title Loan

May 17, 2016 - Industry News

Black Book Releases Residual Forecast on Three-Year-Old Vehicles

The forecast shows that residuals on an average three-year-old vehicle will dip from the current three-year retention of 52% in 2016 to 47.8% by 2019. Increased used supply in the marketplace is the main culprit of slipping retention rates this year, the firm said.

Tags: Black Book, residual values, used-vehicle values

May 17, 2016 - Industry News

NADAUCG's Used-Vehicle Price Index Falls for the Fifth Straight Month

The NADA Used Car Guide's used-vehicle price index fell to its lowest level in more than five years in April. Analysts expect prices this year to be down 5% and 6% on an index-basis from 2015, the steepest non-recession declines in the last 20 years.

Tags: NADA, NADA Used Car Guide, Used Vehicles, Vehicle Prices

May 17, 2016 - Industry News

Consumers Prefer Brands With 'Social Good Campaigns,' KBB Says

Consumers not only prefer to buy from brands with social good campaigns, they expect auto manufactures to carry them out. According to a KBB survey, 64% of respondents expect automakers to carry out social good campaigns. An even larger percentage, 70%, would like to see more automakers promote social good campaigns.

Tags: Campaign, Dealers, Ford, Honda, KBB, Millennials, Subaru

May 17, 2016 - Industry News

Recall Masters Now Integrated Into AutoLoop’s Fixed Ops Suite

Recall Masters’ news, data, training and communication will now be integrated into AutoLoop’s Fixed Ops Suite to provide real-time recall lookup of vehicles during service appointment scheduling, as well as during the vehicle check-in and inspection process.

Tags: AutoLoop, Recall Masters, Service Department, vehicle recall

May 17, 2016 - Industry News

Dealer.com Honored for Commitment to the Arts

Dealer.com was named among the Top 10 ‘Best Businesses Partnering with the Arts in America’ by Americans for the Arts, a nonprofit organization that focuses on art and education.

Tags: Awards, Dealer.com, Nonprofit

May 17, 2016 - Industry News

Jurecki Departs RouteOne to Become CEO of FordDirect

Mike Jurecki, who led the formation of RouteOne when he joined the joint venture as CEO in 2002, is leaving the technology firm to join FordDirect as CEO. He officially takes the helm on June 6.

Tags: CEO, Ford, FordDirect, Hiring, RouteOne

May 17, 2016 - Industry News

Allstate Teams With Openbay on Auto Repair and Maintenance Service

The two firms have teamed up to provide vehicle owners with a faster and more efficient way to service their vehicles. The service is now available via Allstate.com, the Allstate Mobile app’s ‘My Rides’ section, and the Drivewise app.

Tags: Allstate Dealer Services, Openbay, Parts and Service

May 12, 2016 - Industry News

Hearst Magazines Launches New Auto-Focused Division

Hearst Magazine today announced the formation of Hearst Autos, which is bringing together the media giant's collection of automotive businesses into one dedicated division. Hearst Autos will be composed of both business-to-business and consumer-facing brands like Car and Driver, Road & Track, Jumpstart Automotive Group and Veretech Holdings Inc.

Tags: Hearst Autos, Hearst Magazines, Promotions

May 12, 2016 - Industry News

GM Replacing 88% of Lineup By 2020

General Motors should gain market share by replacing 88% of its light-duty lineup by 2020, while Volkswagen and Korean automakers are relying too heavily on cars with consumer demand shifting toward SUVs and trucks, a Bank of America Merrill Lynch analyst has said.

Tags: BANK OF AMERICA, Chevrolet, Fiat Chrysler, Ford, General Motors, Hyundai, Kia, Merrill Lynch, Nissan, Toyota, Volkswagen

May 12, 2016 - Industry News

Cox Expands Manheim Into Quebec City

Cox Automotive announced this week that it has expanded Manheim into Quebec City. According to the company, this marks the second auction in the province of Quebec, following Manheim Montreal’s success.

Tags: Auction, Canada, Cox Automotive, Manheim

May 12, 2016 - Industry News

GO Financial Exits Indirect Channel

The subprime finance source’s president says the company’s decision to exit the indirect channel was neither performance-based nor a reflection of current conditions in the subprime auto finance sector. Move connected to Cox's purchase of Dealertrack.

Tags: Cox Automotive, Dealertrack, DriveTime, GO Financial, Subprime

May 12, 2016 - Industry News

Nissan to Take 34% Controlling Stake in Mitsubishi

Nissan Motor Co. will acquire 34% of Mitsubishi Motors Corp. for 237 billion yen ($2.17 billion) in a deal that makes Nissan the leading investor in the struggling automaker.

Tags: Carlos Ghosn, Mitsubishi, Nissan

May 11, 2016 - Industry News

U.S. Treasury Issues White Paper on Online Marketplace Lending

On Tuesday, the U.S. Treasury issued a white paper on online marketplace lending. It includes a handful of recommendations to encourage safe growth of the segment and access to credit, including a call for more regulatory oversight.

Tags: Online F&I, Online Financing, U.S. Department of Treasury