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May 9, 2017 - Industry News

LotLinx Names Former Lithia Marketing Exec to Newly Created Position

Lotlinx named Mark Conner, who served as assistant vice president of marketing for Lithia, to the newly created position of vice president of channel strategy. He will focus on helping LotLinx customers eliminate ad waste while improving inventory turn. He will also lead the company's efforts to serve larger dealer groups.

Tags: digital marketing, digital retailing, LotLinx

May 9, 2017 - Industry News

Manheim Promotes Three to GM

Dave Rathjens, Greg Milam and Martin Sandoval have been promoted to general manager of their respective markets in Lakeland, Fla., Seattle and Central California.

May 9, 2017 - Industry News

Manheim Announces Selection of Two Sales Execs

Peter Grupposo has been promoted to vice president of dealer sales while Holly Capps joins the company as vice president of inventory solutions commercial and vehicle sales.

May 9, 2017 - Industry News

Manheim Used Vehicle Value Index Increases 1.6% in April

The index's April reading was 124.7, a year-over-year improvement thanks to the 0.5% increase in wholesale used-vehicle prices. Manheim officials said any weakness is more a result of excessive new-vehicle inventory, with more than four million new units sitting on dealer lots for the last three months.

Tags: Manheim Used Vehicle Report, new-vehicle sales, Used Vehicle Value Index, used-vehicle values, Wholesale Pricing

May 9, 2017 - Industry News

Maserati Rolls Out CPO Program

© 2017 Copyright Maserati Automotive

The new offering places two years of unlimited mileage warranty coverage on the hoods of all vehicles sold under the Officine Maserati Certified Pre-Owned program. Buyers also get a free three-month trial of SiriusXM.

Tags: certified pre-owned vehicles, Maserati, used-vehicle sales

May 8, 2017 - Industry News

Sarasota Ford Featured in New Facebook Business Success Story

Sarasota Ford was the subject of a recent Facebook Business feature, which highlighted the dealership's work with Dealers United on an ad campaign that generated 30,185 video views and five vehicle sales within 30 days.

Tags: digital marketing, facebook advertising, Sarasota Ford

May 8, 2017 - Industry News

Asbury Appoints New CFO

Certified public accountant Sean D. Goodman was appointed senior vice president and CFO of the group. He previously served as vice president, chief accounting officer and CFO for Unifi Inc., a textile solutions manufacturer and distributor listed on the New York Stock Exchange.

Tags: Asbury Automotive

May 4, 2017 - Industry News

TEGNA Board Approves Spin-Off of Cars.com

With the approval, the separation of the two brands is expected to be completed on May 31. While the spin-off still requires regulatory approval, Cars.com shares are expected to begin trading June 1 on the New York Stock Exchange.

Tags: Cars.com, digital marketing, TEGNA, third-party sites

May 4, 2017 - Industry News

Sonic: Record F&I Performance Offset by Lower Retail Sales

Sonic's F&I operations posted a record per-copy average of $1,370. But with new-vehicle retail volume down 2%, total same-store F&I gross profit remained flat with a year ago. Officials also talked expansion of the EchoPark platform and the expected roll out of an ecommerce site next year.

May 4, 2017 - Industry News

Houston Woman Demands New Truck From Toyota Dealer

Elizabeth McClung has started a social media campaign aimed at convincing Sterling McCall Toyota to give her a new Tundra to replace an older truck that was stolen from the dealership’s service center.

May 4, 2017 - Industry News

Asbury Hits $1,500 Per Copy in Q1

Describing F&I as 'very fundamental' to its success, Asbury CEO Craig Monaghan said the group will continue to push for improvements in that area as long as 'margin pressure' continues to squeeze the showroom.

May 3, 2017 - Industry News

Group 1: Earnings Hurt by 'Extreme Weakness' in Oil-Dependent States

Not even another strong performance in U.S. new-vehicle margins, a record quarter in the group's U.K. market, and a profitable quarter in Brazil were enough to offset "extreme weakness" in Group 1's energy price-impacted markets.

Tags: F&I profit, Group 1 Automotive, new-vehicle sales, used-vehicle sales

May 3, 2017 - Industry News

AIADA: Import Sales Continue Spring Slump

The American International Automobile Dealers Association reports slumping sales for imports, particularly among sedans and coupes.

May 3, 2017 - Industry News

Black Book Used Vehicle Index Ticks Up in April

For the first time in more than two years, Black Book’s Used Vehicle Retention Index registered a slight increase.

May 3, 2017 - Industry News

Clarivoy Adds Linear Time Decay Models to TV Analytics

The multitouch attribution provider says the new tool will improve data-driven media purchases at the dealership level.

May 3, 2017 - Industry News

Canadian Ford Dealer Goes Fully Digital

Alberta Koch Automotive Group unveiled its new ecommerce platform with a relaunch of the Koch Ford Lincoln website.

May 2, 2017 - Industry News

AutoNation’s Jackson: New Tech Could Hurt Used Cars

Morgan Stanley analyst Adam Jonas engaged AutoNation Chairman and CEO Mike Jackson in a frank discussion about whether new safety technology could hasten the obsolescence of used units.

May 2, 2017 - Industry News

Wise F&I Rolls Out Pre-Owned VSC

WiseMVP offers three levels of coverage for vehicles up to 20 years in age and with up to 200,000 miles on the odometer. The new offering includes towing, car rental, and roadside assistance, among other benefits.

Tags: F&I manager, F&I office, pre-owned, Used-Vehicle Service Contracts, vehicle service contract, Wise F&I

May 2, 2017 - Industry News

AutoNation Reports Flat Results, Positive Outlook

Executives with the nation’s largest auto retailer are looking forward to the second quarter after recording falling new-car sales and flat F&I profits. They also provided an update on the dealer group's move to a one-price strategy.

May 2, 2017 - Industry News

KBB: New-Car Transaction Prices Climb Nearly 2% in April

The vehicle information site pinned the year-over-year increase on high demand for SUVs, noting that most manufacturers registered higher average transaction prices despite softening sales.

May 1, 2017 - Industry News

RMS, Manheim Offer Early Access to Manufacturers' Premium Off-Lease Inventory

Through the new co-listing capability, dealers can gain access to vehicles listed on manufacturers’ digital sales platforms powered by RMS Automotive before they cross the auction block.

Tags: Manheim, Off-Lease Vehicles, RMS Automotive, used-vehicle values

April 27, 2017 - Industry News

Lithia: More Acquisitions, More F&I Money

Lithia Motors’ first-quarter results include continued gains in F&I penetrations and revenue, a result the dealer group credits to its aggressive acquisition strategy.

Tags: F&I products, fixed operations, Lithia Motors, used-vehicle sales, used-vehicle values

April 27, 2017 - Industry News

Trade-In Quotes Critical Factor in Consumer-Buying Decisions, Study Finds

According to an online survey conducted by Black Book, 46% of the 2,100 consumers polled said getting the right trade appraisal was either ‘very important’ or ‘extremely important’ to pulling the trigger on a vehicle purchase.

Tags: Black Book, Car-Buying Experience, Trade-In Appraisal

April 27, 2017 - Industry News

Submission Deadline for F&I Digital Media Awards Extended

Program designed to spur friendly competition among digital marketers industrywide will accept entries until May 12.

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

April 26, 2017 - Industry News

CFPB Fines SNAAC for Violating 2015 Consent Order

Security National Automotive Acceptance Co. agreed to pay $1.25 million to settle the bureau's charges that it failed to pay $2.275 million in consumer redress for illegal debt-collection tactics under the regulator's October 2015 order. But the company did so without admitting to the CFPB's finding, company officials said.

Tags: auto finance, CFPB, compliance, Security National Automotive Acceptance Corporatio, SNAAC