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January 24, 2018 - Industry News

Canada's iA Financial Group Completes Acquisition of SouthwestRe, DAC

iA Financial Group has completed its acquisition of the third-party administrator and its insurance arm, Dealers Assurance Co. Both companies will now operate as fully owned subsidiaries of iA.

Tags: Dealers Assurance Company, F&I products, iA Financial Group, Mergers and Acquisitions, reinsurance, SouthwestRe

January 24, 2018 - Industry News

Ally Enters Retail Financing Agreement With DriveTime

Ally Financial said it will make up to $750 million available to DriveTime for the purchase of retail contracts over the coming year.

Tags: Ally Financial, auto finance, DriveTime, used vehicles

January 24, 2018 - Industry News

CDK Global: Fixed Ops Profitability Is Within Reach

CDK Global details four actions dealers can take to boost service department revenue in a new report.

January 24, 2018 - Industry News

Autosoft DMS Adds Black Book Values

A new partnership agreement between Black Book and Autosoft will integrate Black Book’s vehicle valuation data into Autosoft’s dealer management system.

January 24, 2018 - Industry News

Autotrader Plans Dramatic Transformation

The online retailer will introduce a series of enhancements designed to deliver higher-quality leads to auto dealers and add transparency and speed to the customer experience.

January 23, 2018 - Industry News

Darwin Updates F&I Platform to Address Military Lending Act Rules

Darwin today announced a new update to its F&I sales platform designed to address the interpretive rule the Defense Department issued last month under the MLA.

Tags: compliance, credit insurance, Darwin Automotive, Department of Defense, GAP, Military Lending Act

January 23, 2018 - Industry News

AutoGravity Reaches New Milestone

More than 1.3 million Americans have used AutoGravity’s car-shopping and financing platform, which surpassed $2 billion in finance amount requested in 2017.

January 23, 2018 - Industry News

CNAN Recaps Year of Milestones, Awards, Tech Advancements

CNA National said it has now paid more than $3 billion in claims for all product lines since the company’s founding in 1982. That’s just one of the achievements the company notched in 2017, a year in which the company introduced a new product and passed the four million mark for VSCs in force.

Tags: CNA National, F&I products, vehicle service contracts, Z2 Series

January 23, 2018 - Industry News

Lending Tree: Used-Car Buyers Stretch for Some Brands

Lending Tree has ranked the used-car brands Americans will stretch their finances furthest to afford.

January 23, 2018 - Industry News

JD Power Enters F&I Space

The launch of J.D. Power Automotive Protection Products marks the data and insight provider’s first foray into the finance office.

January 23, 2018 - Industry News

Manheim Reports Growth in Digital, Mobile Channels

The auction company’s directors say record-level activities in 2017 portend further growth for its offsite channels this year.

January 22, 2018 - Industry News

Zurich to Focus Heavily on F&I in 2018

Zurich North America is reshaping its dealer P&C portfolio to address 'persistent underperformance due to continued volatility associated with large and catastrophic hail losses." As a result, Zurich will focus heavily on F&I in 2018, a spokesperson said last week.

Tags: F&I office, F&I process, F&I products, P&C insurance, vehicle service contracts, Zurich

January 22, 2018 - Industry News

Black Book: Vehicle Depreciation Dropped to 13.2% in 2017

The average price of a used vehicle for model years 2012–’16 depreciated in value by 2.9%. Cars overall dropped by 3.0% and trucks decreased by 2.8% in value during December.

January 22, 2018 - Industry News

Dominion Launches Cloud-Based DMS

Dominion Dealer Solutions announced the launch of Dominion VUE, a new, cloud-based dealer management system.

January 18, 2018 - Industry News

Crowe Horwath Plans Tax Reform Webinar

A free webinar offered by Crowe Horwath will review key considerations for dealers concerned about the effects of the recently enacted federal tax reform.

January 18, 2018 - Industry News

TagRail Launches Digital Retail Platform

Add TagRail to the growing list of companies offering a digital retail platform. The company’s online car-buying tool is designed to close more online shoppers through a frictionless online transition from their living room to the showroom.

Tags: auto finance, digital retailing, F&I products, online F&I, TagRail, technology

January 18, 2018 - Industry News

Jumpstart: Mustang Most-Viewed Vehicle of 2017

The Ford Mustang drew more interest from car buyers than any other vehicle for the fourth consecutive year, according to the latest report from Jumpstart Automotive Media.

January 18, 2018 - Industry News

Drive Motors: Digital Retailing Delivers Holidays Sales Gains

Drive Motors’ dealer clients sold almost three times as many cars online on Christmas Day 2017 than they did the same day in 2016 thanks to its digital retailing platform, the firm revealed this week.

Tags: auto finance, digital retailing, Drive Motors, online F&I, technology

January 17, 2018 - Industry News

F&I Express Adds to Leadership Team

The firm today announced the appointment of Gary Peek, a more than 20-year software industry veteran, as CIO. Also joining the company is Mike Llewellyn, who will serve as product manager for F&I Express’ ecancellation solution, Express Recoveries.

Tags: digital retailing, F&I Express, online F&I, technology

January 17, 2018 - Industry News

Range Rover Wins IHS Markit Loyalty Award

The Land Rover Range Rover earned the highest loyalty score for any luxury full-size SUV in IHS Markit’s 2017 model-year rankings.

January 17, 2018 - Industry News

LotLinx Names Gee Leung COO

Leung brings 20 years of digital media and technology experienced to LotLinx’s growing executive team.

January 17, 2018 - Industry News

Norman/Classic Adds Diminished Value and Depreciation Programs

The two new programs are backed by Lyndon Southern Insurance Co. The first provides a trade-in credit of up to $10,000 if a vehicle is involved in a collision and repaired, while the other pledges to cover depreciation (up to $10,000) if a vehicle is stolen and not recovered or is deemed a total loss as a result of an accident.

Tags: AM Best, F&I product, Lyndon Southern Insurance Company, Norman & Co., trade-in value, vehicle depreciation

January 16, 2018 - Industry News

Black Book: Subcompact Crossovers Register Steep Value Declines

Subcompact crossovers joined the full-size vans and minivans as the truck categories registering the steepest declines in value last week, while subcompact cars joined full-size cars and sporty cars as the depreciation leaders in the car segment.

Tags: Black Book, cars, subcompact cars, subcompact crossover, trucks, vehicle depreciation

January 16, 2018 - Industry News

Cox Automotive: Car Buyers Still Need Dealers

The latest research by Cox Automotive finds car buyers continue to rely on instore visits even as digital information sources proliferate.

Cox Automotive’s ‘Future of Digital Retail Study’ reveals that dealerships remain central to the car-buying experience, but the instore experience tends to fall short of consumer expectations.

January 11, 2018 - Industry News

What’s Next? Experts to Share 2018 Predictions in Complì Webinar

Complì’s ‘2018 Predictions for Dealers’ webinar will feature a who’s who of automotive industry thought leaders.