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April 12, 2016 - Industry News

GM Financial Breaks Ground on New Financial Servicing Center

General Motors Financial Company Inc. broke ground on a new financial servicing center in San Antonio, Texas, on Monday. When completed in the Spring 2017, the 100,000-square-foot facility will represent the fifth servicing center in North America for the captive finance company.

Tags: Construction, GM, GM Financial, Servicing Center

April 12, 2016 - Industry News

Compliance Summit to Hit Tampa, Las Vegas in 2016

Organizers of Compliance Summit, a series of regional events dedicated to front-end compliance for dealers and dealership management, announced that events will be held in Tampa and Las Vegas this year following stops in Chicago and Austin, Texas, in 2015.

Tags: CFPB, Compliance, Compliance Summit, Dealer Summit, ECOA, F&I Think Tank, Federal Trade Commission, Regulation Z, Regulations, TILA

April 12, 2016 - Industry News

Dr. Huey Antley to Lead KAR’s New Data Science Solutions Group

KAR Auction Services announced the formation of a new Data Science Solutions Group, which will apply the latest data science tools to optimize economic outcomes for vehicle remarketing customers.

April 12, 2016 - Industry News

Holman to Acquire Kuni Automotive

The acquisition, which is expected to be finalized this summer, will create one of the largest privately owned dealer networks in the country. The bi-coastal network will operate 33 dealerships and bring in more than $3 billion in overall annual revenue.

Tags: Acquisition, Dealer Network, Holman Automotive Group, Kuni Automotive Group

April 12, 2016 - Industry News

Vehicle Depreciation Accelerates in Q1, Black Book Reports

The acceleration in vehicle depreciation during the first quarter points to the market reaching the peak of spring, Black Book said this week. While many segments saw noticeable spikes in depreciation, the firm noted, some segments experienced increases in value during the quarter.

Tags: Black Book, Depreciation, Used Vehicles, Used-Vehicle Value

April 7, 2016 - Industry News

Drop in Fuel Prices Pushes 'Cost to Own a Vehicle' to Six-Year Low

Spurred by a nearly 25% drop in fuel price, the annual cost to own and operate a vehicle in the United States has fallen to a six-year low of $8,558, according to AAA’s 2016 Your Driving Costs study. The drop more than offset the increase in every other cost associated with vehicle ownership.

Tags: AAA, Cost to Own, Fuel Economy, Study

April 7, 2016 - Industry News

Used-Vehicle Pricing Continues to Ease

Wholesale prices fell for the third straight time in March, but Cox Automotive’s Tom Webb said the softening is no cause for alarm.

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

April 7, 2016 - Industry News

Dealer Group Files Class Action Lawsuit Against Volkswagen

A family-owned dealer group has filed a class action lawsuit against Volkswagen for intentionally defrauding dealers by installing defeat devices in its diesel cars. The dealer group is also claiming that Volkswagen separately carried out an illegal pricing and allocation scheme that favored some dealers over others.

Tags: Diesel, Lawsuit, Volkswagen, Volkswagen Scandal

April 7, 2016 - Industry News

2014 F&I Dealer of the Year Added to F&I Think Tank Roster

Vaden Automotive Group's Jane Vaden Thacher will be at next month's F&I Think Tank in Tampa, Fla., to explain how the group's sales and F&I process makes $1,400 per copy a reasonable expectation for F&I producers.

Tags: F&I Process, F&I Think Tank, F&I Turnover, Jane Vaden Thacher, Vaden Automotive Group

April 6, 2016 - Industry News

Shoppers Satisfied With Dealership Experience, Study Shows

Eight out of 10 shoppers are entering the dealership and leaving satisfied, according to the 2015 Channel Immersion and Perspectives study published by Foresight Research. And the remaining dissatisfied shoppers have suggestions for dealerships as to how to make the experience even better.

Tags: Dealership Experience, Foresight Research, Study, Survey

April 6, 2016 - Industry News

Dealers’ Choice Awards Voting Open Until April 15

Dealers and dealership personnel are encouraged to vote for their favorite vendors, suppliers, banks and finance companies in 34 categories covering new- and used-car leads, training, marketing, F&I products and more. Voting for the 12th annual Dealers’ Choice Awards is now open and will remain so until midnight on April 15.

Tags: Awards, Dealers, Dealers Choice Award, Dealerships

April 6, 2016 - Industry News

Xtime Launches Customer Retention Platform

At last week's National Automobile Dealers Association Convention, Xtime unveiled a cloud-based system designed to drive owner loyalty through one service experience platform.

Tags: Service, Technology, Xtime, Xtime Spectrum

April 6, 2016 - Industry News

ProMax to Distribute Black Book's New Bullseye Prospecting Solution

Black Book's distribution agreement with ProMax will help expand the footprint of its new Bullseye Prospecting solution, a turnkey platform for dealer marketing campaigns.

Tags: Black Book, Bullseye Prospecting, Marketing, ProMax

April 5, 2016 - Industry News

Calif. Dealer Group Scores Partial Victory in Lawsuit Against TrueCar

A California judge has allowed the California New Car Dealers Association's lawsuit against TrueCar to proceed. TrueCar, however, was successful in getting the association’s federal Lanham Act claims dismissed.

Tags: CNCDA, Court Decision, TrueCar

April 5, 2016 - Industry News

NADA Forges Partnership With MyCarDoesWhat Campaign

The NADA announced its involvement in a campaign designed to promote safer driving experiences. The program educates consumers about how to best interact with safety features.

Tags: MyCarDoesWhat, NADA, National Automobile Dealers Association, Safety

April 5, 2016 - Industry News

Manheim Announces Plans to Grow Auction Network and Services

Manheim plans to grow both its digital and physical space to better facilitate its growth in users.

Tags: Auto Auctions, Cox Automotive, Manheim, Online

April 5, 2016 - Industry News

MAXDigital, Carfax Expand Partnership

As part of an enhanced partnership, key details such as reported accidents, number of owners and open recalls now instantly appear onscreen for vehicles listed in MAXDigital's inventory management platform.

Tags: Carfax, Carfax Report, Inventory Managment, MAXDigital

April 5, 2016 - Industry News

Maserati, Chase Sign Auto Finance Agreement

Chase will provide Maserati North America dealers with retail financing and leasing under the Maserati Capital USA brand. Chase will also provide commercial lending and treasury services to the high-end automaker's dealers.

Tags: Captive, Chase, Maserati

April 5, 2016 - Industry News

1.8 Million Off-Lease Vehicles Returning to the Market in 2016, Experian Reports

The amount of cars being leased has grown by 76% since 2008, according to an Experian Automotive study. By the end of 2016, 1.8 million off-lease vehicles will return to the market, the firm says.

Tags: Experian Automotive, Lease, Study

March 31, 2016 - Industry News

LoJack Reaches Vehicle-Recovery Milestone

LoJack announced today it has recovered more than 200,000 stolen vehicles in the United States. The vehicle-recovery solution provider commemorated the milestone with the Los Angeles Police Department and the Galpin Motor Group.

Tags: F&I manager, F&I office, LoJack, Vehicle-Recovery Device

March 31, 2016 - Industry News

National Credit Center Announces New CRM Product

National Credit Center has announced its newest product, Avendas CRM. The company claims it can train dealership staff on the product in as little as a few days.

Tags: CRM, National Credit Center, Technology

March 31, 2016 - Industry News

RouteOne Launches Desking Tool

RouteOne has entered the desking tool category with RouteOne Desking. The launch of the product, the company states, comes from requests from many of their customers.

Tags: Credit Applications, Desking, Monthly Payments, RouteOne, Technology

March 30, 2016 - Industry News

(Video) Ziegler Talks Dealer Summit, Profit Masters

Jim Ziegler is headed to Tampa, Fla., to deliver his Profit Masters seminar at Dealer Summit, which is scheduled for May 3-5 at the Sheraton Tampa Riverwalk Hotel. Register by April 1 to save $100 off a full conference pass.

Tags: Dealer Summit, F&I Think Tank, Jim Ziegler, On the Point, Profit Masters

March 29, 2016 - Industry News

Moore to Take On Millennial Workforce at Dealer Summit

Protective Asset Protection’s Rich Moore will present a session dedicated to hiring and training Millennial workers at the upcoming Dealer Summit, organizers announced Monday.

Tags: Dealer Summit, Hiring, Millenials, Protective Asset Protection Division, Rich Moore

March 29, 2016 - Industry News

Dealertrack Partners With DealerCorp to Expand F&I Solution Suite in Canada

The new partnership brings together Dealertrack's credit application network and DealerCorp's desking technology. The combination is designed to help Canadian dealers connect their showrooms and F&I departments through a seamless and integrated workflow.

Tags: DealerCorp, Dealertrack, Retail Management Solution