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November 1, 2017 - Industry News

fusionZONE Announces Major Investment by Primus Capital

The funding will be used to grow market share, invest in product development, and expand client services, officials with the digital marketing firm said. fusionZONE was founded in 2009 and provides web design services and conversion strategies to dealers.

Tags: dealer website, digital marketing, fusionZONE, lead conversion, Primus Capital

November 1, 2017 - Industry News

KBB: Flat Prices, Higher Incentive Spending Signals Headwinds for New-Car Market

Transaction prices continue to rise at a slower pace, with the third-quarter average up just 1% after averaging 3% gains in the first half of the year. And while KBB expects solid sales in October, flat transaction prices combined with ever-growing incentive spending signal headwinds for the new-vehicle market as the year nears its close.

Tags: average transaction price, Kelley Blue Book, new-vehicle sales

November 1, 2017 - Industry News

Bodden Joins GWC Warranty Sales Leadership Team

Cynthia Bodden

Cynthia Bodden has been promoted to the position of area vice president of sales for the Mid-Atlantic region by GWC Warranty.

November 1, 2017 - Industry News

Kerrigan Reps Puente Hills Chevrolet in Sale to Pendragon PLC

Family-owned and -operated since World War II, Puente Hills (Calif.) Chevrolet changes hands with the retirement of co-owners Tom Hoffman and Gary Campbell.

October 31, 2017 - Industry News

Pearl Technology Integrates Experian Propensity Scoring Platform

The new platform gives users of Pearl’s VehicleXchange incentive-based marketing solution the ability to know which consumers are new or pre-owned buyers, and can target by propensity, APR, payment amount, term and credit score, and more.

Tags: data mining, digital retailing, Experian Automotive, online F&I, Pearl Technology

October 31, 2017 - Industry News

Daniel Flynn Named President of CDK North America

Flynn guided the company’s multi-year transformation effort. The executive is now set to replace Robert. N. Karp, who is leaving the company in December.

Tags: CDK Global, Daniel Flynn, showroom, technology

October 31, 2017 - Industry News

ELEAD1ONE Releases Free Fixed Ops eBook

‘Fix Your Phones & Boost Profit in Your Service Department’ makes a compelling case for addressing and improving the way customers communicate with your dealership’s service department.

October 31, 2017 - Industry News

Study: Highline Buyers Defy Expectations

A study conducted by Jumpstart Automotive Media and Ipsos Connect sought to identify luxury car buyers and determine what motivates them, and the results were surprising.

October 31, 2017 - Industry News

Asbury: Q3 Revenue, Gross Profit Down Due to Hurricanes

Total revenue and gross profit were down 5% and 2% from a year ago, respectively, with Hurricane Irma having a significant impact on sales in the group’s core Florida and Georgia markets. F&I was a bright spot, with total gross profit up 4% and the group’s per-copy average increasing by $142 from a year ago to $1,547.

Tags: Asbury Automotive, F&I profit, Hurricane Harvey, Hurricane Irma, new-vehicle sales, public dealer, used-vehicle sales

October 31, 2017 - Industry News

Boston Volvo Village Partners With New Balance Fitness Club

The partnership allows the dealership’s customers to work out while their cars are being serviced. It adds to a long list of benefits Boston Volvo currently offers, including 40 courtesy loaner vehicles, daily shuttles to Boston and Cambridge and complimentary Uber transportation.

Tags: Boston Volvo Village, Customer Experience, customer serice, parts and service

October 30, 2017 - Industry News

Auto/Mate Earns Eighth Straight Best Workplace Award

Auto/Mate Dealership Systems has been named a ‘Best Place to Work’ by the Albany Business Review for the eighth consecutive year.

October 27, 2017 - Industry News

Marchex Announces Accuracy Enhancements to Conversation Analytics

Marchex claims nearly 15% comparative improvement in components of speech analytics accuracy, providing marketers and sales teams with actionable insights from phone conversations between consumers and brands.

October 27, 2017 - Industry News

PaymentVision Partners With Quotepro

A new integration promises new options and an expansion of services for both companies and their clients, including auto dealers and auto finance companies.

October 27, 2017 - Industry News

Study Finds Major Gaps in Call-Handling Performance

A study released by Marchex and based on 8 million calls to U.S. auto dealers found that nearly one-fifth of calls went unanswered or were abandoned by the customer, representing millions of dollars in lost revenue.

October 25, 2017 - Industry News

KBB: New-Vehicle Sales Expected to Fall 2% in October

Despite the expected decline, October looks to be relatively strong on strong replacement demand in hurricane-impacted states and higher incentive spending. Kelley Blue Book analysts, however, believe these are indicators that new-vehicle demand is still contracting.

Tags: Fiat Chrysler, Honda, Kelley Blue Book, new-vehicle sales, Nissan, SAAR, Toyota, Volkswagen

October 25, 2017 - Industry News

Report: Dealers Are Less Progressive Than They Think

The latest edition of eLEND Solutions’ Digital Retailing Survey finds most dealers describe themselves as willing to adopt digital retailing but actual adoption rates — and levels of understanding — are wanting.

October 25, 2017 - Industry News

Pence Casts Tiebreaking Vote to Kill CFPB's Arbitration Rule

The vice president cast his tiebreaking vote late Tuesday night. The measure now heads to President Trump's desk, where it is likely to be signed. Once it does, not only will the CFPB's arbitration rule be invalidated, the bureau won't be allowed to issue a similar rule unless authorized to do so in a subsequent law.

Tags: Arbitration, CFPB, compliance, F&I products

October 25, 2017 - Industry News

Survey: Lack of Tech Has Millennials Avoiding Dealership Jobs

A new survey from Roadster shows that when it comes to millennials, the car business ranks just behind 'politician' and 'tax collector' as occupations they'd like to avoid.

Tags: car dealerships, digital retailing, Millennials, online F&I, Roadster, technology

October 24, 2017 - Industry News

Consumer Advocacy Group Calls for Regulatory Review of F&I Product Pricing

The National Consumer Law Center is calling on lawmakers and regulators to investigate how dealers price F&I protections, claiming that an analysis of approximately 1.8 million vehicle transactions revealed inconsistent and discriminatory price markups over a span of six years.

Tags: auto finance, CFPB, compliance, dealer markups, F&I products

October 24, 2017 - Industry News

Auto/Mate Wraps Up Annual User Summit in San Antonio

Auto/Mate’s annual User Summit drew more than 100 customers for three days of sessions and networking.

October 24, 2017 - Industry News

Flick Fusion Releases VidCom Mobile App

Flick Fusion’s new VidCom mobile app was designed to offer auto dealers a multiplatform video communications tool.

October 24, 2017 - Industry News

ELEAD1ONE Delivers 70% Service Appointment Set Rate for Florida Group

The fixed ops director for Florida’s Gettel Automotive Group credits ELEAD1ONE with effecting a customer experience improvement that drove a 15% increase in fixed ops gross.

October 23, 2017 - Industry News

September’s Lease Approval Rate Falls to Lowest Level in 2017

September’s rate was recorded after August’s 68.3% approval rate. The car leasing marketplace attributed September’s rate to the effects of hurricanes Harvey and Irma.

Tags: credit approval rate, Lease, Swapalease.com

October 23, 2017 - Industry News

Scott Painter’s Fair Raises Up to $1 Billion in Debt and Equity Funding

Fair’s latest funding round was led by BMW iVentures and includes investments from Penske Automotive Group and other investors. The startup also raised nearly $1 billion in debt funding from a group of investment banks and a Sherpa Capital-led entity.

Tags: digital retailing, Fair, George Bauer, online F&I, Scott Painter, TrueCar

October 19, 2017 - Industry News

Honcker Raises $3.6 Million, Expands to Eight States

Honcker announced the closing of a seed financing round led by Evolution Corporate Advisors and the expansion of its car leasing marketplace into a total of eight states.