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January 11, 2017 - Industry News

Pearl Combines Equity Mining Tool With 'Buy Direct From Consumer' Platform

The integration will allow dealers to search for vehicles they wish to purchase directly from consumers by year, make, model and trim, according to the company.

Tags: Equity, marketing, Pearl Technology, technology

January 11, 2017 - Industry News

AutoGravity Adds First Investors to Vehicle Financing Platform

AutoGravity is adding First Investors Financial Services’ indirect business onto the AutoGravity platform, the two companies announced this week.

Tags: AutoGravity, Financing, Fintech, technology

January 11, 2017 - Industry News

Heritage Acceptance Corp. Launches New Vehicle Service Contract

The new service contract includes roadside assistance and a higher liability limit the company claims will better protect the customer's investment.

Tags: Heritage Acceptance Corp., Marathon Administrative Co., vehicle service contract

January 10, 2017 - Industry News

Volkswagen AG Pleads Guilty to Emissions Scandal

Aside from the $4.3 Billion settlement, the U.S. Department of Justice announced that six Volkswagen executives and employees were indicted for their role in the decade-long conspiracy to cheat U.S. emissions tests.

Tags: Diesel, emissions, Volkswagen, Volkswagen Scandal

January 10, 2017 - Industry News

Black Book: Smaller Cars Back in Demand

Small cars (model-year 2008-2014) are making a comeback to open the year, and Black Book believes the segment could be in for a good spring.

Tags: Black Book, vehicle depreciation, Wholesale Pricing

January 10, 2017 - Industry News

Dent Wizard Hires Vice President of Customer Development

Ryan Briggs, former national sales manager for DigitCut, was hired by Dent Wizard to fill the newly created position of vice president of customer development. He'll be responsible for expanding the company’s relationships with the nation’s Top 150 dealer groups.

Tags: Dent Wizard, paintless dent removal, reconditioning, remarketing

January 9, 2017 - Industry News

Cadillac Launches $1,500 a Month Subscription Service

Cadillac has launched a subscription-based, on-demand vehicle utilization program that provides access to Cadillac vehicles without a commitment to buy or lease.

Tags: Cadillac, General Motors, Online Buying, Subscription

January 9, 2017 - Industry News

Credit Acceptance's Founder Announces Retirement

Donald Foss, the subprime finance source's founder and chairman, has decided to retire, the company announced on Jan. 4. The company stated in its announcement that it does not plan to fill the role of chairman. In Foss' absence, Thomas Tryforos will lead the board of directors.

Tags: Board of Directors, Credit Acceptance Corp., Retirement

January 9, 2017 - Industry News

NIADA Member Services Creates New Partnership Program

NIADA Member Services has created a new partnership program designed to offer members a wider array of companies whose products and services they can trust, according to an association announcement.

Tags: Independent Dealerships, NIADA, Partnership

January 9, 2017 - Industry News

RouteOne Canada Adds CIBC Auto Financing to Finance Portal

Participating dealers who have a relationship with CIBC can now process credit applications and finance contracts through RouteOne, the company stated.

Tags: CIBC, Financing, Online, RouteOne, RouteOne Canada

January 9, 2017 - Industry News

KosLo Website Integrates NADAguides Data to Improve Consumer Experience

The online vehicle deal generation company has enhanced its site with year, make and model data from NADAguides to help further enhance the customized car-buying experience it offers consumers.

Tags: KosLo, NADA, NADAguides, technology, Website

January 9, 2017 - Industry News

DealerDoc Offers Out-of-State Titling and Registration Solution

The solution provides correct taxes and fees for an out-of-state sale in seconds, according to the company, allowing users to prepopulate and print all state-required documents along with a detailed checklist for specific requirements in every jurisdiction.

Tags: Electronic Registration, Titling, Vehicle Sales

January 9, 2017 - Industry News

Wholesale Used-Vehicle Prices Increase in December, Manheim Reports

Wholesale used-vehicle prices on a mix-, mileage-, and seasonally adjusted basis increased by 0.2% in December, according to Manheim. Compared to December 2015, the Manheim Used Vehicle Value Index declined 0.6% to 124.9.

Tags: Manheim, Useve Vehicles, Wholesale, Wholesale Pricing

January 9, 2017 - Industry News

Autotrader: 48% of Car Buyers Choose In-Vehicle Tech Over Brand, Body Style

The report shows a growing number of consumers believe certain safety technologies, including blind-spot detection and and forward collision warning, should come standard on all vehicles in the United States. Convenience and entertainment options also ranked high on consumers' preferred list of technology features.

Tags: Autotrader, blind-spot detection, collision warning, Connected Vehicle, telematics

January 5, 2017 - Industry News

BMW Using Google’s Augmented Reality Technology to Sell Cars

The German automaker announced it’s piloting a new program that will allow customers to explore their ideal BMW i3 and i8 using Google’s Tango augmented reality technology

Tags: Accenture, Augmented Reality, BMW, Google

January 5, 2017 - Industry News

Toyota Developing Cloud-Based Telematics System

Toyota announced it is developing a cloud-connected telematics system that offers improved navigation features, in-vehicle Wi-Fi, and remote connectivity via a smartphone app.

Tags: Connected Vehicle, telematics, Toyota

January 5, 2017 - Industry News

Autobytel Sells Off Specialty Finance Leads Product to Internet Brands

Autobytel last week completed the sale of its specialty finance leads product to Internet Brands Inc. for $3.2 million in cash and $1.6 million in additional transition licensing income.

Tags: Autobytel, Internet Brands Inc., Sale

January 5, 2017 - Industry News

Edmunds Unveils New Website, Logo Design

Edmunds this week unveiled a revamped online experience and refreshed new logo. The company has also dropped the '.com' from its name and will now be known as simply “Edmunds,” according to a company announcement.

Tags: Edmunds, Logo, Redesign

January 5, 2017 - Industry News

AutoNation Holding One-Day Hiring Event to Fill Thousands of Positions

AutoNation will be holding a one-day hiring event on Tuesday, Jan. 10, according to a recent company announcement. The event will take place throughout 15 cities across the country, and will feature thousands of sales and service positions available at all of the company’s stores and service centers, the company stated.

Tags: AutoNation, Hiring, training

January 5, 2017 - Industry News

Toyota, Ford Form Organization to Improve Phone-to-Car Connectivity

Ford Motor Co. and Toyota Motor Co. are forming a nonprofit organization that will manage an open source software platform with the goal of providing consumers access to smartphone apps using voice commands and in-vehicle displays.

Tags: Connected Vehicle, Ford, telematics, Toyota

January 4, 2017 - Industry News

Automotive Compliance Consultants Field Manager Earns Compliance Certification

Automotive Compliance Consultants announced this week that Texas field manager Ron Keable has earned the National Automotive Finance Association's consumer credit compliance expert designation

Tags: Automotive Compliance Consultants, compliance, National Automotive Finance Association

January 4, 2017 - Industry News

Copart Donates Hundreds of Toys to Toys for Tots

What started out as a small-scale holiday donation for the online vehicle auction company has now scaled into a corporate-wide initiative. The company’s Dallas headquarters alone collected more than 500 toys for the U.S. Marine Corps Reserve program.

January 4, 2017 - Industry News

CFPB Orders TransUnion and Equifax to Pay $23.1 Million for Deceptive Practices

The Consumer Financial Protection Bureau (CFPB) this week took action against Equifax and TransUnion, ordering the two credit reporting agencies and their subsidiaries to pay more than $17.6 million in restitution for deceiving consumers about the usefulness and actual cost of credit scores they sold to consumers. The two firms were also ordered to pay $5.5 million in fines to the regulator.

Tags: CFPB, Credit Agencies, Credit Report, Dodd-Frank Act, Equifax, TransUnion

January 4, 2017 - Industry News

Ally Agrees to Finance up to $600 Million of Carvana's Retail Contracts

Under the terms of the agreement, Ally will provide financial arrangements to support the online retailer's operations, with an initial commitment of up to $600 million. The agreement expands Ally's existing relationship with Carvana, which also includes a floorplan credit line and vehicle sourcing through Ally's SmartAuction platform.

January 4, 2017 - Industry News

Black Book: Used-Car Prices Stabilize in December

Depreciation trends stabilized to close out 2016, with depreciation rates for all cars and trucks falling into seasonal patterns, Black Book reported this week.

Tags: Black Book, Cars, depreciation, Trucks, Used Vehicles