November 19, 2013 - Industry News
TrueCar ranked 154th on Deloitte’s Technology Fast 500, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America.
Tags: Deloitte, technology, TrueCar
Michelle Morris has joined the social media giant as vertical lead for the auto segment. In her new role, Morris will work with auto manufacturers to build their brands.
Tags: facebook marketing, Faceboook, hiring, manufacturers, Online Marketing, social media
November 14, 2013 - Industry News
On the eve of the CFPB’s first public forum on auto lending, a town council in New Jersey unanimously votes to settle a lawsuit centered on the disparate impact theory.
Tags: Brittany-Marie Swanson, CFPB, Consumer Financial Protection Bureau, discrimination, disparate, Equal Credit Opportunity Act (ECOA), Richard Cordray, Senate, Senate Banking Committee
The American Financial Services Association is commissioning a study to address the CFPB’s concerns for discrimination related to rate participation programs. It will also provide a cost-benefit analysis of alternative dealer compensation models.
Tags: AFSA Vehicle Finance Conference, CFPB, Equal Credit Opportunity Act
November 13, 2013 - Industry News
The transaction strengthens Intersection Technologies Inc.’s position as a leading technology and solutions provider to the automotive industry.
Tags: AutoTrader.com, F&I Express, Intersection Technologies
November 12, 2013 - Industry News
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
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 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 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
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
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
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
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.
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
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 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
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
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
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
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
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
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
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
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
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
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