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June 7, 2017 - Industry News

FrogData Hires Renowned Automotive Consultant

David Shear previously served as an independent training consultant, leading a team of 15 facilitators delivering training to 510 Nissan dealerships.

June 7, 2017 - Industry News

Manheim Index Hits Record High

With wholesale used-vehicle prices rising in May, the Manheim Used Vehicle Value Index rose to a record 127.9. The firm noted that dealers purchased the most vehicles at Manheim auctions for the month of May since 2008.

Tags: Manheim Index, new-vehicle sales, showroom, used-vehicle values, Wholesale Pricing

June 7, 2017 - Industry News

Dent Wizard Names Director of Operations for Canadian Market

Matt Boyd, who has served in various roles since joining Dent Wizard International in 2005, was promoted to director of operations for the company’s Canadian market.

Tags: Canada, Dent Wizard, F&I products, paintless dent removal

June 6, 2017 - Industry News

CUDL: Subprime Pullback Opens Door for Credit Unions

With banks retreating from all risk tiers, an executive with CU Direct Lending said the auto finance market is primed for credit unions to pick up more share. In the first quarter, credit unions grew their share of the market by 4%.

Tags: auto finance, credit unions, CU Direct, special finance, subprime, used-vehicle financing

June 6, 2017 - Industry News

JM Family Promotes Brown, Burns

Chief Executive Officer Colin Brown will add board chairman duties while Brent Burns takes on president and COO duties.

June 6, 2017 - Industry News

MaximTrak Wins Third Straight Dealers’ Choice Award

MaximTrak Technologies was recognized in the F&I Technology category for the third consecutive year.

June 6, 2017 - Industry News

Securethics Launches Communication and Conflict Management Training Program

The new program was designed to reduce auto dealership turnover by at least 5% in 12 months.

June 5, 2017 - Industry News

UDS Earns Top Honors in Dealers’ Choice Awards

The income development company earned a Diamond award in F&I Training and Platinum in the Compliance Training category of Auto Dealer Today’s 2017 Dealers’ Choice Awards, which are voted on by dealers and dealership personnel.

Tags: Auto Dealer Today, compliance, Dealers' Choice Awards, F&I training, UDS

June 5, 2017 - Industry News

Protective Earns Platinum in Dealers’ Choice Award

This year's honor marks four consecutive years the F&I product provider has earned Platinum in the Vehicle Service Contract category of Auto Dealer Today's Dealers' Choice Awards.

Tags: F&I manager, F&I office, F&I products, Protective Asset Protection Division

June 5, 2017 - Industry News

Edmunds: Down Payments Reach Record Levels in May

Car buyers are putting down $504 more on a new-vehicle purchase than they did five years ago. But with buyers purchasing pricier cars and interest rates on the rise, something has to give, Edmunds.com analysis said.

Tags: auto finance, down payment, Edmunds, interest rates

June 5, 2017 - Industry News

Cars.com Completes Spin-off From TEGNA

The online retailer announced its first board of directors and began trading on the NYSE on June 1 as "CARS."

June 5, 2017 - Industry News

Kerrigan: Buy/Sell Activity Remains Robust in Q1

Despite slowing auto sales and a slight dip in blue sky values, dealership buy/sell activity remained robust in the first quarter, according to the buy/sell advisory firm’s The Blue Sky Report.

Tags: Kerrigan Advisors, Mergers and Acquisitions, The Blue Sky Report

June 5, 2017 - Industry News

Used-Vehicle Index Falls in May After April Uptick

Black Book’s Used Vehicle Retention Index fell to 112.3 in May after enjoying a slight gain in April.

June 5, 2017 - Industry News

StoneEagle Wins Platinum in 2017 Dealers’ Choice Awards

Dealers voted StoneEagle to a Platinum award in the F&I Technology category in the annual Dealers’ Choice Awards.

June 1, 2017 - Industry News

AutoNation Names New COO

AutoNation named Lance Iserman executive vice president of sales and COO. The more than 15-year company veteran replaces William “Bill” Berman, who resigned last month.

Tags: AutoNation, Bill Berman, Hiring, Mike Jackson

June 1, 2017 - Industry News

AutoGravity’s Car Financing App Now Available in New Jersey

AutoGravity’s mobile financing app is now available in New Jersey. According to company officials, the app has been downloaded more than 400,000 times since its introduction last summer.

Tags: AutoGravity, digital retailing, online F&I

June 1, 2017 - Industry News

Cox, Holman Launch Flexdrive Subscription Service

Cox Automotive and Holman Enterprises have announced the launch of Flexdrive, a joint venture designed to offer a subscription option to new-car buyers.

Tags: auto finance, Cox Automotive, Holman Enterprises, mobility

June 1, 2017 - Industry News

VW Mends Fences Among Lease Customers

The latest quarterly report from Swapalease.com shows incremental gains for the scandal-marred Volkswagen brand.

June 1, 2017 - Industry News

KBB: New-Vehicle Transaction Prices Rise Nearly 3% in May

Transaction prices continued to climb at a steady rate in May, driven by the weakening sales mix of cars, according to the vehicle information side.

Tags: Average Transaction Price, Kelley Blue Book, new-vehicle sales

May 31, 2017 - Industry News

J.D. Power/LMC Expect Lowest May Retail SAAR Since 2013

(in millions of units)Source: Power Information Network® (PIN) from J.D. Power

Not even record incentive spending for the month is expected to keep May retail sales on pace with a year ago, according to the two firms.

Tags: incentive spending, J.D. Power and Associates, LMC Automotive, new-vehicle sales, SAAR

May 31, 2017 - Industry News

CNA National Takes Two Top Spots in 2017 Dealers’ Choice Awards

CNAN earned first-place Diamond honors in the Service Contract and Reinsurance categories. The company has been voted a top provider by readers of Auto Dealer Today every year since the awards program was created in 2005.

May 31, 2017 - Industry News

Auto/Mate Adds Dashboard Dealership Enterprises

The new partnership pairs Auto/Mate’s DMS with Dashboard’s data reporting suite. Clients of both companies can now enjoy seamless data exchange and real-time updates.

May 30, 2017 - Industry News

BofA Adds F&I Component to Mobile Car-Shopping App

Bank of America is piloting new enhancements to its mobile banking technology that will allow clients to complete the auto financing process directly with the bank on a mobile device.

Tags: Bank of America, digital retailing, mobile app, online F&I

May 30, 2017 - Industry News

White Clark Group CEO Named ‘Auto Finance Personality of the Year’

The award is designed to recognize an individual who has made the most noteworthy contribution to the auto finance industry in the last two years. Judges described White Clark CEO Brendan Gleeson as a “visionary for the motor finance industry.”

Tags: auto finance, White Clarke Group

May 30, 2017 - Industry News

Hearst Expands Auto Division

The existing auto-focused sales force from Hearst Magazines’ 21 brands will move under the umbrella of Hearst Autos. The division will develop and execute 360-degree programs incorporating print, digital, video, social, custom content, events, and in-market advertising.