February 15, 2017 - Industry News
While bankruptcies plunged last year to their lowest levels since the implementation of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2015, filings are beginning to climb, according to the American Bankruptcy Institute.
Tags: American Bankruptcy Institute, bankruptcies, buy-here, pay-here, special finance
Luxury vehicles continued to struggle last week, as the segment realized some of the highest depreciation rates among all segments, according to the vehicle valuation firm.
Tags: Black Book, depreciation, Luxury Vehicles, Used Vehicles
Kelley Blue Book’s list of the best family vehicles for the 2017 model year includes eight SUVs, four minivans, and no sedans.
Tags: Chevrolet, Chrysler, Honda, Kelley Blue Book, Kia, Nissan, Subaru, Toyota
The law firm announced today the election of attorneys Robert Gage, Lauren Hunt, and Jennifer Sarvadi to the partnership.
Tags: compliance, Consumer FInancial Protection Bureau, Federal Trade Commission, Hudson Cook LLP
February 14, 2017 - Industry News
For the year, the nation’s third largest dealer group grew its U.S. F&I per-copy average by $129 from the prior year to $1,644. Company officials, however, tell investors and equity research analysts ‘not to model anything higher.’
Tags: F&I manager, F&I products, Group 1 Automotive, PVR
Urban Science analysts said average per-store sales in the United States fell by a single unit in 2016, despite a slight uptick in rooftops and franchises.
February 13, 2017 - Industry News
Subaru and Acura ranked as the top automotive brand in Kelley Blue Book's annual 5-Year Cost to Own awards, which highlights the top luxury and non-luxury brands in 21 vehicle categories.
Tags: Acura, depreciation, Kelley Blue Book, Subaru
The software maker announced the release of Remote F&I, a remote menu, disclosure and document-signing web application. The new offering comes equipped with vSignature, a patent-pending technology that allows the user to control what a customer views on his or her smartphone. It also allows buyers to esign any document.
Tags: F&I manager, F&I menu, F&I products, Ron Martin, VisionMenu Inc.
The 2017 Chevrolet Bolt EV should retain as much as 39% of its value after three years of retail leasing, which is significantly better than other mainstream competitors, according to ALG.
Tags: ALG, Chevrolet Bolt, Electric Vehicle
Jeff Schlesinger was named president and CEO of LeasePlan USA, a fleet management company. Schlesinger succeeds Mike Pitcher, who retired as president and CEO at the end of 2016.
Tags: GE Capital, Jeff Schlesinger, LeasePlan USA
The subprime finance source announced the promotion of Brad Nall to CFO. The more than 25-year veteran of the consumer finance industry has held various senior roles since joining the company in July 2012.
February 9, 2017 - Industry News
The F&I product provider announced this week the appointment of Jeff Parent as president. The 26-year veteran of the automotive business succeeds Steve Amos, who is retiring after nine years as GSFSGroup’s president.
Tags: F&I products, GSFSGroup, Jeff Parent, reinsurance, Steve Amos
The F&I product provider announced this week the promotion of Mike Silverman, who joined the company in 2014 as manager of product strategy, to director of marketing strategy.
Tags: F&I products, GWC Warranty Corporation
The executive team from the nation's largest auto retailer paints a rosy picture for 2017, despite the effects of the ongoing Takata airbag recall and the looming threat of a Trump administration-ordered border tax on vehicles manufactured in Mexico and sold here.
Tags: AutoNation, Donald Trump, F&I manager, F&I profit per vehicle retailed, PVR, Takata
The dealer reinsurance program manager announced it has entered into an agreement with Wyoming Automobile Dealers Association to bring reinsurance profit participation and retrospective commission programs to the association and member dealers who sell Portfolio F&I products.
Tags: F&I products, Portfolio, reinsurance, Wyoming Automobile Dealers Association
February 8, 2017 - Industry News
The group’s F&I operations posted a $60 increase in F&I profit per vehicle retailed during a quarter in which the nation’s eighth largest auto retailer chose volume over margin.
Tags: Asbury Automotive, F&I products, F&I profit per vehicle retailed, new-vehicle sales, used-vehicle sales
Carleton Inc. announced the hiring of Sarah Way, an attorney whose expertise includes business law, contract development and documentation, intellectual property regulations, property insurance law, and other litigation disciplines.
Tags: Carleton, compliance, Sarah Way
Jumpstart Automotive Media released its annual report listing the Super Bowl car commercials that drove the most online engagement.
Volvo Car USA LLC announced that buyers of the 2017 V90 wagon can order their vehicle direct from the OEM’s Gothenburg, Sweden, factory. The service can be initiated online or at a Volvo dealership.
Automotive Broadcasting Network has joined the ranks of companies certified by General Motors' Dealer Technology Assistance Program.
The connected car and telematics provider announced that Gary Tucker has joined the company as CEO. Tucker leaves his role as CEO of dealer review site DealerRater.com.
Tags: Connected Vehicle, Dealerrater, Gary Tucker, telematics, Zubie
February 7, 2017 - Industry News
Barry McMillan, who has led RouteOne Canada since 2003, will retire at the end of this month. Assuming his duties is Anthony Goulbourne, who was promoted to senior vice president.
Tags: digital retailing, F&I manager, RouteOne Canada
The National Association of Business Resources named EasyCare to its ‘Best and Brightest Companies to Work For” list, which the association put together in partnership with an independent research firm.
Tags: CoVideo, EasyCare, F&I products, GWC Warranty Corporation, Human Resources
Manheim's Tom Webb believes the 0.3% year-over-year decrease could have been much worse considering the "sharply rising" supply of used units.
Tags: Manheim, Manheim Used Vehicle Report, Tom Webb, used-vehicle values, Wholesale Pricing
ADT contributor Rico Glover and his team from Bryan Honda will deliver a presentation on dealership digital marketing in New York City next month.
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