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November 12, 2013 - Industry News

F&I Offers Highest Income Potential, NADA Workforce Study Reveals

Produced in partnership with DeltaTrends, the comprehensive report analyzes a vast array of data on dealership trends to help dealers manage their workforce. Among its many findings, the report shows F&I managers as having the highest income growth potential vs. other departments.

Tags: 2013 Dealership Workforce Study Industry Report, David Westcott, Generation Y, NADA, National Automobile Dealers Association, OEM

November 12, 2013 - Industry News

AutoUSA: Financing Tools Generate Best Website Leads

More than half of the respondents of the AutoUSA annual Internet marketing survey said online credit applications were the best source of online leads. Nearly as many dealers indicated that chat applications were the best source.

Tags: AutoUSA, Internet Leads, objection handling, Survey, Website

November 7, 2013 - Industry News

Ohio AG Seeks $11K Reimbursement From Used-Car Dealership

Ohio Attorney General Mike DeWine is suing a used-car dealership for failing to deliver motor vehicle titles to car buyers. He seeks $11,800 in restitution for customers.

Tags: attorney general, Lawsuit, Ohio, vehicle title

November 5, 2013 - Industry News

CFPB Responds to Senators’ Demands

CFPB Director Richard Cordray responded Monday to lawmaker demands for information on the bureau’s investigation of the indirect financing channel. The director delivered his response a day before Ally revealed in a filing with the SEC that it may be facing ECOA violations.

Tags: Ally Financial, Brittany-Marie Swanson, CFPB, Consumer Financial Protection Bureau, ECOA, NADA, Richard Cordray

November 5, 2013 - Industry News

End of Gov’t Shutdown Causes Late Surge in Used Sales, CNW Reports

The reopening of government in mid-October helped used-vehicle sales realize a 3.63 percent increase from a year ago, CNW Research calling the increase “somewhat weaker” than expected.

Tags: CNW Research, government shutdown, Used Sales

October 29, 2013 - Industry News

Judge: Ally Violated Bankruptcy Rules

A U.S. bankruptcy judge accused Ally Financial of sending confusing letters to bankrupt customers that demanded payments on debts they no longer owed. Ally was ordered to pay $11,000 to a recipient of such a letter.

Tags: Ally Financial, bankruptcies, compliance, consumer bankruptcies

October 29, 2013 - Industry News

Commerce Dept. Notes Sharp September Drop in Auto Sales

The Census Bureau released its sales figures for September, showing that fewer sales days during the month resulted in a sharp decline in auto sales.

Tags: Autodata Corp, Retail Sales, Vehicle Sales

October 24, 2013 - Industry News

OnPoint Drops Buy-Back Requirement

Buy-here, pay-here auto financing company OnPoint launched a new lending program, 30/30, which eliminates the buy-back requirement on repossessed vehicles.

Tags: 30/30, Andy Regula, auto finance, lending program, loan, OnPoint Financial Corp.

October 24, 2013 - Industry News

Ally Honors 2014 TIME Dealer of the Year Nominees

Ally Financial has named the nominees for this year’s TIME Dealer of the Year. The winner will be announced during January's NADA Convention & Expo in New Orleans.

Tags: 2013, Ally Financial, AllyDealerHeroes.com, car dealers, NADA Convention and Expo, nominees, TIME Dealer of the Year

October 24, 2013 - Industry News

KBB: October New-Car Sales Expected to Jump 11.7 Percent

With one additional selling day, October sales are on track to reach 1.22 million units, KBB reported last week. And barring any economic setbacks, the vehicle information site expects sales to reach 15.6 million units this year.

Tags: 2013, KBB.com, Kelley Blue Book, October, Retail Sales, SAAR, sales, vehicle

October 22, 2013 - Industry News

Edmunds.com “Takes Over” St. Louis Car Dealership

Edmunds.com will “take over” the showrooms of Bommarito Nissan/Honda/Volkswagen/Ford of Hazelwood to provide St. Louis with an exclusive car-shopping experience.

Tags: Bommarito Ford, Bommarito Honda, Bommarito Nissan, Bommarito Volkswagen, Edmunds.com, PricePromise, showroom, take over

October 22, 2013 - Industry News

Haystak: Yahoo! Bing Conversion Rates Top Google

According to Haystak Digital Marketing, the Yahoo! Bing network is delivering conversion rates at lower costs for auto dealers, Clickz.com reports.

Tags: advertising, AutoTrader.com, digital marketing, Google, Yahoo! Autos

October 22, 2013 - Industry News

Digital Air Strike Partners With Cars.com

Digital Air Strike and Cars.com are partnering on a new “customer verified” review integration. The new platform pulls from the dealer’s DMS to identify customers who are likely to write a review on Cars.com.

Tags: Cars.com, Digital Air Strike, DMS

October 22, 2013 - Industry News

CNW: Leases Overestimating Future Residual Values

CNW Research issued a warning this week, reporting that lease contracts have been overestimating residual values by roughly 14 percent in 2013. The firm expects automakers to lose between $5 billion and $8 billion within three years.

Tags: Art Spinella, CNW, CNW Research, leasing, residual values

October 22, 2013 - Industry News

Gubagoo Launches ‘Vehicle Matching’ for Dealership Websites

Patent-pending technology enables dealership websites to accurately predict visitor preferences, allowing dealers to match in-stock vehicles to customer preferences.

Tags: Internet Leads, lead generation, live chat, Website

October 17, 2013 - Industry News

eBay Motors: Car Shoppers Want Streamlined Experience

Nearly half of consumers who purchased a vehicle in the last five years want a confirmed price on a car before heading to the dealership. They also only want to spend only 30 minutes to an hour shopping.

Tags: Car Shopping, Dealer Websites, ebay, eBay Motors, Mobile, Survey

October 15, 2013 - Industry News

KBB Launches Price Advisor Tool

The kbb.com redesign includes a pricing range for each vehicle make and model, as well as dealership microsites. Officials say customers are more likely to pay at or above fair purchase price for a vehicle once they view the Kelley Blue Book fair price range.

Tags: Brittany-Marie Swanson, Customer Reviews, DealerRater.com, KBB.com, Kelley Blue Book, Pricing, Website

October 15, 2013 - Industry News

DealerRater Launches Certified Service Center

DealerRater has launched a new segment for dealership service departments. Officials say the new offering is in response to an increasing number of online searches for auto repair and maintenance.

Tags: auto dealer, auto repair, Certified Service Center program, Dealerrater, DealerRater.com, Maintenance, review site, s, service department

October 8, 2013 - Industry News

Alabama's Forrest McConnell Elected NADA Chairman for 2014

The NADA has elected Alabama dealer Forrest McConnell to lead the association in 2014. Colorado dealer Jeff Carlson was elected secretary, and Florida dealer George Nahas was elected treasurer.

Tags: 2014, car dealer, Chairman, Forrest McConnell, NADA

October 8, 2013 - Industry News

GM to Allow Consumers to Buy Cars Online

General Motors plans to roll out its Shop-Click-Drive program to all of its dealers by the end of the year. The voluntary program allows dealership customers to complete the entire car-shopping process online.

Tags: General Motors, internet sales, OEM, Ryndee Carney, Stephanie Forshee, Tesla Motors

October 8, 2013 - Industry News

Edmunds Redesigning Site Around Price Promise Feature

This month, Edmunds.com will launch a newly redesigned site centered on its Price Promise program. It will allow users to select a vehicle with a locked-in, haggle-free price.

Tags: Brittany-Marie Swanson, Edmunds, Edmunds.com, Price Promise, Website

October 1, 2013 - Industry News

AFS Acceptance Names New President

AFS Acceptance announced the promotion of Scot Seagrave to president of the company.

Tags: AFS Acceptance, Scot Seagrave

October 1, 2013 - Industry News

Equifax: Auto Loan Balance Hits 5-Year High

The balance of auto loans in August increased 9.7 percent from last year, rising from $760.8 billion to $834.4 billion, according to Equifax’s National Consumer Credit Trends Report.

Tags: Auto Loan Delinquency Rate, Credit, delinquencies, Equifax, Equifax National Consumer Credit Trends Report

October 1, 2013 - Industry News

AutoTrader Rolls Out iPad Shopper App

The new app features dozens of search filters and an intuitive design to help car shoppers explore the site’s more than three million new and used vehicles.

Tags: Android, AutoTrader.com, iPad, iPhone

September 25, 2013 - Industry News

Edmunds.com Among 'Most Trusted' Online Review Sites

Edmunds.com ranked the fourth highest on the 2013 Online Customer Review Study, beating out sites like Yelp, Google+, Hotels.com and others. DealerRater ranked No. 13 on the list.

Tags: 2013, Edmunds.com, Maritz Research, Online, review site, reviews, Study