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March 21, 2017 - Industry News

J.D. Power: Tesla Owners Choose Hype Over Quality

A new report from J.D. Power finds owners of the Tesla Model S and Model X have acknowledged numerous quality issues but show no signs of disloyalty.

Tags: Electric Vehicles, Model S, Model X, Tesla Motors

March 20, 2017 - Industry News

Podium Partners With CDK Global

More than 27,000 retail locations will have access to Podium’s automated online reputation management solution.

March 20, 2017 - Industry News

Spireon Enhances Recovery Link Feature in Goldstar GPS Solution

Spireon introduces one-step vehicle-recovery process for buy-here, pay-here dealers, who can automatically send locator links on lapsed vehicles to recovery agents via text or email.

Tags: buy-here, GPS Tracking, pay-here, Spireon

March 20, 2017 - Industry News

AUL Corp. Releases 2017 F&I Training Schedule

The warranty and vehicle service contract provider released its 2017 F&I training schedule, which includes a three-day live course that will cover compliance, objecting handing, sales-to-F&I turnovers, and menu selling. It will be led by Kirk Manzo, director of global training for Assurant’s Vehicle Protection Services group.

Tags: F&I manager, F&I products, F&I sales, F&I training, F&I Turnover

March 20, 2017 - Industry News

Wise F&I Product Suite Now Available Through MaximTrak

Wise F&I’s voluntary protection products are now accessible through MaximTrak, a RouteOne company. According to officials, connecting the firm's F&I protections to MaximTrak’s F&I menu system demonstrates its focus on compliance, technology and simplicity for the customer.

Tags: F&I manager, F&I menu, F&I process, MaximTrak, RouteOne, Wise F&I

March 20, 2017 - Industry News

ACE Certifies American Financial Agents

Automotive Compliance Education (ACE) and American Financial & Automotive Services partnered to certify American Financial’s entire agent roster.

March 20, 2017 - Industry News

Edmunds, State Farm Create Affinity Program

The vehicle information site and auto insurer have teamed up to pair the Edmunds shopping experience with State Farm’s vehicle ownership tools.

March 16, 2017 - Industry News

Fed Raises Interest Rates a Quarter Point

The Federal Open Market Committee (FOMC) voted 9-1 on March 15 to raise the target range for the federal funds rate by a quarter percentage point to 0.75% to 1% — a move that was widely expected.

Tags: Federal Reserve, interest rates, Monthly Payments

March 16, 2017 - Industry News

AutoLoop: Dealers Lose $380K in Millennial Service Revenue

A survey of 1,000 car buyers found dealership service departments are losing revenue by failing to connect and engage with millennial customers. Photo by librarianfinsen

A new study from AutoLoop finds dealers are failing to properly market their service departments, engage service customers digitally, and improve the service experience.

March 16, 2017 - Industry News

EasyCare Launches SelectCare for Retail and Lease Customers

SelectCare was designed to cover parts not covered by the factory warranty, vehicle service contract or prepaid maintenance plan.

Tags: F&I products, vehicle service contracts, vehicle warranties

March 15, 2017 - Industry News

Black Book: Cars Outperform Trucks, Luxury Cars Continue to Falter

Luxury vehicles continued to struggle last week, leading all segments in terms of depreciation. The other big story was the performance of cars, which continued to retain their values better than trucks.

Tags: Black Book, vehicle depreciation, wholesale values

March 15, 2017 - Industry News

Ford Tests Smart Service Kiosks

LaFontaine Ford of Birch Run (Mich.) is the first Ford dealership to test the Panasonic/GoMoto Smart Service Kiosk.

March 15, 2017 - Industry News

DRIVIN, Chrome Data Announce Data Licensing Agreement

DRIVIN this week announced it has signed an agreement to license Chrome Data’s Automotive Description Service (ADS) to enhance its inventory-sourcing marketplace.

Tags: Chrome Data Solutions, DRIVIN, inventory sourcing, Online Marketplace

March 15, 2017 - Industry News

Manheim Locations Receive Top Honors at CAR

Eleven Manheim auctions took home 15 national and regional awards at this month’s Conference of Automotive Remarketing. Big winners were Manheim Seattle, Manheim Dallas and Manheim Statesville.

Tags: Auctions, Conference of Automotive Remarketing, Manheim

March 14, 2017 - Industry News

CUDL Holds Onto No. 2 Spot in Auto Finance Rankings

The more than 1,000 credit unions on CU Direct’s lending platforms maintained their No. 2 spot on Experian’s auto finance leaderboard in January. And with plateauing demand for new vehicles expected to drive up pre-owned sales, the market appears ripe for credit unions to reap further market share gains.

Tags: auto finance, Credit Unions, CUDL, powerbooking

March 14, 2017 - Industry News

Sage to Pay $3.6 Million to Settle FTC Charges

The nine-store, Los Angeles-based Sage Automotive Group will pay $3.6 million to settle charges of deceptive and unfair sales and financing tactics, including yo-yo financing and payment packing.

March 13, 2017 - Industry News

Infiniti Joins automotiveMastermind Platform

Infiniti dealers now have the opportunity to partner with automotiveMastermind, which offers predictive analytics to drive sales and customer retention.

Tags: advertising, dealer website, digital marketing, marketing

March 13, 2017 - Industry News

Helion Issues Dealer Data Security Guidance

Describing dealership data breaches as an ‘imminent threat,’ Helion Automotive Technologies’ Eric Nachbahr has issued proactive security recommendations for auto dealers.

March 13, 2017 - Industry News

PERQ: Decluttered Dealer Sites Perform Best

A new analysis of consumer behavior data suggests that decluttering dealership websites increases profit, data collection and click-throughs.

March 11, 2017 - Industry News

Tom Webb to Retire as Cox Automotive's Chief Economist

Tom Webb will retire on June 30 as Cox Automotive's chief economist, ending a more than four-decade career.

Tags: Cox Automotive, Manheim, Manheim Index, Manheim Used Vehicle Report, Tom Webb, used-vehicle values

March 9, 2017 - Industry News

CNCDA: California New-Vehicle Sales Cool in 2016

The California new-vehicle market leveled off in 2016, with new light vehicle registrations increasing by less than 2% during the final three quarters of last year, according to the California New Cars Dealers Association (CNCDA).

Tags: California New Car Dealers Association, new-vehicle sales, used-vehicle sales

March 9, 2017 - Industry News

Lease Credit Approvals Jump 33.3% in February

Car lease credit applicants registered a 72.2% approval rate in February, a 33.3% increase from January’s 50% approval rate but flat with a year ago, according to Swapalease.com.

Tags: lease, Swapalease.com

March 8, 2017 - Industry News

Black Book: Retention Holds Relatively Strong in February

Small pickups led the way, but cars also showed retention strength during a month in which the average price of a used vehicle for model years 2011-2015 depreciated by 0.8%.

Tags: Black Book, depreciation, used-vehicle values

March 8, 2017 - Industry News

AAGI Unveils New Branding, Exclusionary VSC

AAGI unveiled a corporate rebrand and the AutoGuard Plus exclusionary vehicle service contract at a recent event.

March 8, 2017 - Industry News

Wise F&I Partners With Darwin Automotive

The F&I product provider’s full suite of F&I protections will now be available through Darwin’s prescriptive-based F&I selling software. The F&I tech firm will also provide erating and econtracting capabilities of Wise F&I’s products.

Tags: Darwin Automotive, F&I menu, F&I products, F&I technology, Wise F&I