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April 28, 2016 - Industry News

KBB Predicts Record Sales in April

After a disappointing March, new-vehicle sales should bounce back in April, KBB said yesterday. The firm predicts new-vehicle sales will rise 4% from a year ago to a record 1.51 million units.

Tags: April, Kelley Blue Book, New-Vehicle Sales

April 28, 2016 - Industry News

American Auto Guardian Hires New Western Regional Vice President

American Auto Guardian has named Ken Acha as its new Western regional vice president. He most recently served as regional director of sales for Hyundai Capital America, where he developed and launched the Hyundai Protection Plan in 2013.

Tags: American Auto Guardian, Hiring, Vice President

April 28, 2016 - Industry News

Edmunds Predicts April Record for Industry Sales

The vehicle information site said this week that April sales are on pace to eclipse the April 2005 sales record of more than 1.5 million units. It also believes the industry is on pace to shatter last year’s 17.5 million-unit sales record.

Tags:, fleet sales, New-Vehicle Sales, SAAR

April 28, 2016 - Industry News

Group 1's U.S. F&I Operations Delivers Record Q1 Performance

The dealer group's U.S. F&I operations increased its per-copy average by $26 to a record $1,564. Including operations in the United Kingdom and Brazil, the group's consolidated average increased 0.7% to $1,385.

Tags: Financial Report, First Quarter, Group 1 Automotive

April 28, 2016 - Industry News

EFG Companies Adds OEM and Reinsurance Veteran to Leadership Team

The F&I product provider has named Richard Christensen, a 25-year veteran of the automotive retail industry and reinsurance business, vice president of product development.

Tags: EFG Companies, F&I manager, F&I products, Reinsurance

April 27, 2016 - Industry News

N.Y. Dealer Admits to Falsifying Auto Loan Applications

N.Y. Dealer Gerald McDonald pleaded guilty last month to submitting fraudulent loan documents to financial institutions. He faces a maximum of five years in prison and a fine of up to $250,000 when he is sentenced on July 19.

Tags: Crime, Dealership, U.S. District Court

April 27, 2016 - Industry News

ChannelNet to Build Customer Management Portals for Hyundai Capital Canada

ChannelNet announced this week it will begin building customer lifecycle management programs and dealer portals for Hyundai Motor Finance and Kia Motors Finance in Canada as part of its new contract with Hyundai Capital Inc.

Tags: Canada, Hyundai, Kia, Online Buying

April 27, 2016 - Industry News

Demand for Alternative Fuel Vehicles Dwindling

The percentage of alternative-fuel vehicles in the overall automotive market has dwindled over the last three years, the NADA Used Car Guide said this week. Hybrids continue to make up the majority of the alternative fuel market, but data does show consumers are beginning to shift toward electric vehicles in greater numbers.

Tags: Alternative Fuel, Electric Vehicle, Hybrid, Report, Vehicle Sales

April 27, 2016 - Industry News

KBB: Low Fuel Prices Have Used-Vehicle Buyers Flocking to High-Performance Segments

Used-vehicle buyers are turning to sports cars in greater numbers thanks to low fuel prices, which are allowing them to forego fuel efficiency in favor of performance, KBB said this week.

Tags: Auction, Blue Book Market Report, First Quarter, KBB, Kelley Blue Book, Used Vehicle

April 26, 2016 - Industry News

F&I, Fixed Ops Lead the Way for Sonic in Q1 2016

Record F&I and fixed-ops gross profit helped Sonic Automotive offset low vehicle sales. But the big story for the publicly traded dealer group was the performance of the F&I offices at its one-touch EchoPark dealerships. They increased their per-copy averages by 54.1%.

Tags: EchoPark, Quarterly Earnings, Quarterly Report, Sonic Automotive

April 26, 2016 - Industry News

NIADA Dealer 20 Groups Program Adds Moderator

Longtime industry veteran Mark Dubois has joined the association’s expanding Dealer 20 Groups team. He will work with BHPH dealer groups as part of the NIADA 20 Groups operation acquired from Leedom and Associates.

Tags: 20 Groups, bhph dealers, Mark Dubois, NIADA, Remarketing

April 26, 2016 - Industry News

RoadVantage Rolls Out GPS Anti-Theft System

RoadVantage's newest product bundles GPS tracking with vehicle theft protection. Dealers can use it to keep track of and protect their inventory, while consumers can take advantage of a host of family safety features.

Tags: Anti-Theft, GPS Tracking, Inventory Management, RoadVantage

April 26, 2016 - Industry News

Consumers Want an Online Car-Buying Experience From Dealers, CDK Global Survey Shows

A CDK Global survey found that a large percentage of car shoppers want dealer websites to offer more of the car-buying experience online. Information from the survey also found that the majority of respondents felt more comfortable starting the car-buying process on a dealer's website as opposed to a third-party site.

Tags: CDK Global Inc., Online Shopping, Survey

April 21, 2016 - Industry News

CFPB to Discuss Arbitration at Field Hearing Next Month

The Consumer Financial Protection Bureau will be holding a field hearing on May 5 in Albuquerque, N.M., to discuss arbitration. CFPB Director Richard Cordray will issue remarks at the hearing

Tags: AFSA, Consumer Financial Protection Bureau, Field Hearing, Richard Cordray

April 21, 2016 - Industry News

Volkswagen Agrees to Diesel Settlement

Volkswagen has agreed to give buyers of the nearly 600,000 vehicles sold in the United States with the emissions cheating software the option of selling the cars back or getting them fixed, a judge announced April 21.

Tags: Diesel, Settlement, Volkswagen, Volkswagen Scandal

April 21, 2016 - Industry News

Edmunds: EV, Hybrid Owners Ditching Vehicles for SUVs

An Edmunds analysis found that only 27.5% of all hybrid and EV trade-ins in 2016 have been applied to the purchase of another hybrid or EV, an 11.3% drop from last year’s rate of 38.5%. A larger percentage, 33.8%, of trade-ins are going toward the purchase of SUVs.

Tags:, Electric Vehicle, Hybrid Vehicle, Trends

April 21, 2016 - Industry News

BMW Distribution Center Opens in Texas

The BMW Group's newest vehicle distribution center at the Port of Galveston, Texas, officially opened Wednesday. The distribution center, according to the company, will better serve the 45 BMW and MINI dealers in the nation’s southern region: Texas, Oklahoma, Louisiana and Arkansas.

Tags: BMW, New Jersey, Vehicle Distribution

April 21, 2016 - Industry News

TD Bank: U.S. Auto Sales to Peak in 2016, Remain Healthy in 2017

TD Economics, an affiliate of TD Bank and TD Auto Finance, projects U.S. auto sales will peak at 17.6 million units this year before edging down to 17.3 million in 2017. But sales should remain at the 17 million-unit level for some time, the finance source’s economist noted.

Tags: Dina Ignjatovic, New-Vehicle Sales, SAAR, TD Auto Finance, TD Economics, Used-Vehicle Sales

April 21, 2016 - Industry News

Four N.Y. Dealers Ordered to Pay Nearly $2 Million to Settle Payment Packing Charges

New York Attorney General Eric T. Schneiderman’s initiative to end dealer “jamming,” or payment packing, has resulted in four separate settlements with four dealer groups. They agreed to return nearly $2 million in restitution to nearly 5,000 consumers and $174,000 in penalties and costs to the state.

Tags: Attorney General, Dealer Groups, Deceptive Practices, New York, Settlements

April 21, 2016 - Industry News

Nissan Fleet Initiative Expands Dealer-Based Ordering

Nissan is making it easier for commercial fleets to acquire vehicles outside of annual purchasing cycles with its Fleetail 2.0 program that will expedite orders of less than 50 vehicles to commercial fleets and fleet management companies.

Tags: Fleet Incentives, Nissan, Nissan Titan XD

April 20, 2016 - Industry News

Dimmitt Chevrolet Receives Chevrolet Dealership of the Year Award

Founded in 1924, Dimmitt Chevrolet was named the 2015 Chevrolet Dealer of the Year. Out of more than 3,000 Chevrolet dealerships, the dealership was one of 50 to qualify to receive the award.

Tags: Awards, Chevrolet, Dimmitt Chevrolet, Florida

April 20, 2016 - Industry News

Former Larry H. Miller Group CEO Acquires California Dealership

Greg Miller, who stepped down as CEO of the Larry H. Miller Group in March 2015, has acquired Bob Baker Toyota in San Diego, Calif. The dealership will be renamed Greg Miller Toyota and will be operated under his new enterprise, Greg Miller Automotive San Diego.

Tags: Acquisition, California, Dealership

April 20, 2016 - Industry News

KBB Aims to Change Image With New Marketing Campaign

Kelley Blue Book's new 'Get New Car Smart" marketing campaign is designed to reposition the brand away from being the used-car pricing and valuation destination to the go-to resource for new-car shoppers, company officials said.

Tags: Kelley Blue Book, New Vehicles, Used Vehicles, Vehicle Valuation

April 20, 2016 - Industry News

Black Book Becomes Exclusive Partner of Auction Simplified

Black Book announced today it is now the exclusive provider of vehicle valuation data for Auction Simplified, an online auction service that allows dealers to instantly make vehicle inventory available to wholesale buyers.

Tags: Auction Simplified, Auto Auctions, Black Book, Partnership

April 19, 2016 - Industry News

FCA Taps Express Lane Dealers for Mopar Fleet Parts Program

Through its 1,000 U.S. dealerships offering the Mopar Express Lane service, Fiat Chrysler Automobiles is rolling out the Mopar fleet parts and service program — a one-stop maintenance solution designed to assist fleets with uptime, driver safety, and competitive pricing,

Tags: FCA, Fiat Chrysler, Mopar Express Lane Service