April 4, 2017 - Industry News
Fiat Chrysler and Toyota showed the greatest year-over-year improvement as prices and incentives gained ground last month.
Tags: Average Transaction Price, Fiat Chrysler, Kelley Blue Book, Toyota
The organization's newest survey backs the need for F&I protections, finding that 64 million U.S. drivers can't afford an unexpected vehicle repair. AAA also found that one-third of drivers skip or delay recommended services or repairs.
Tags: AAA, F&I manager, Prepaid Maintenance, Repairs, Service Contracts, Vehicle Maintenance
This latest settlement, announced on March 30, will be paid to Connecticut, Delaware, Maine, Massachusetts, New York, Oregon, Pennsylvania, Rhode Island, Vermont, and Washington. The settlement was negotiated with attorneys general from each state.
Tags: Diesel, Volkswagen, Volkswagen Scandal
With the Industry SAAR falling below 17 million for the first time since August, the trade group said the industry's March sales performance 'suggests that sales may be plateauing.' The association said now is the time for dealers to tighten their operations and push back on any tax increases on consumers.
Tags: American International Automobile Dealers Associat, Honda, new-vehicle sales, Nissan, Subaru
April 3, 2017 - Industry News
Motorcycle Warranty Forever offers lifetime coverage for motors and transmissions with no cost, deductible or expiration.
Tags: National Automotive Experts, vehicle service contract
Clearlane allows consumers to finance a vehicle purchase from a dealership or a private party sale, refinance their existing loan, or buy their vehicle at lease end. The site also sells GAP and service contracts.
Tags: Ally, auto finance, digital retailing, online F&I
AutoGravity’s mobile car shopping and financing platform has grown to included 1,000 rooftops representing more than 1,400 dealerships.
Tags: auto finance, AutoGravity, digital retailing, online F&I
March 30, 2017 - Industry News
Tom Webb will retire on June 30, ending a more than four-decade career. Cox Automotive officials said a replacement will be named in the coming weeks.
Tags: Cox Automotive, Manheim, Manheim Index, Manheim Used Vehicle Report, NADA, used-vehicle values
The 20-year company veteran previously led the Wells Fargo Insurance business. She succeeds Dawn Martin Harp, who announced her retirement on Jan. 10.
A letter written by a West Philadelphia teen about her family’s struggles to care for her sister, who suffers from multiple medical issues, prompts the F&I product provider, its agent and dealer to donate transportation and more.
Tags: Alpha Warranty Services, charity giving, vehicle service contract
March 29, 2017 - Industry News
Santander Consumer USA will pay $26 million to settle charges brought by the attorneys general of Delaware and Massachusetts.
The special finance company, which counts the cofounder and former COO of Exeter Finance in its executive ranks, will use the funding to launch a new and pre-owned auto leasing program this year.
Tags: auto finance, leasing, MUSA, special finance, Used Leasing
Autotrader and Dealer.com websites recorded increases in search share for Acura, Alfa Romeo, Buick and Infiniti, each of which ran national ads during the first weekend of the NCAA men’s basketball tournament.
Tags: advertising, Autotrader, Cox Automotive, Dealer.com, digital marketing
March 28, 2017 - Industry News
Reggie Ponsford was promoted to help drive further growth for the telematics solutions provider in the buy-here, pay-here, automotive retail, rental automotive, powersports and auto finance markets.
Tags: Connected Vehicle, F&I manager, F&I products, Spireon, telematics
Scott McKenzie and Fred Mather have joined the executive team at automotiveMastermind.
The latest edition of Jumpstart Automotive Media’s annual Insights Book sheds new light on the evolving car-shopping path.
Both cars and trucks realized a healthy seasonal boost in wholesale performance last week, with both segments retaining their values better than they have in the past six months.
Tags: Black Book, Used-Car Sales, used-vehicle prices, wholesale values
March 27, 2017 - Industry News
The vehicle valuation site said the industry should sell 1.63 million units in March, which would bring first quarter sales to 4.1 million units. That would be the second highest first quarter sales tally on record.
March 23, 2017 - Industry News
Clarivoy has launched a survey of auto dealers to support a study on auto retail marketing investments.
defi SOLUTIONS's loan origination system is now certified for econtracting with RouteOne. Finance sources utilizing defi’s LOS will now benefit from a streamlined econtracting implementation process.
Tags: defi SOLUTIONS, econtracting, Fintech, Loan Origination System, RouteOne
Dealers, agents, product providers, marketers and manufacturers can submit entries by April 28.
The Department of Consumer Affairs (DCA) has filed charges against Queens-based Major World and its three used-vehicle dealerships for allegedly employing deceptive financing and sales practices that targeted low-income and immigrant consumers.
Tags: Deceptive Advertising, Department of Consumer Affairs, fraud, Major World, powerbooking
The Consumer Financial Protection Bureau took action against Experian and its subsidiaries for falsely claiming in advertisements that credit scores it offers and provides to consumers are used by finance sources to make credit decisions.
March 22, 2017 - Industry News
February provided “further concrete evidence of softening” of used-vehicle prices, ADESA's Tom Kontos wrote in his monthly Kontos Kommentary.
Tags: ADESA Analytical Services, Tom Kontos, used-vehicle prices, Wholesale Pricing
This week’s Black Book Market Insights report shows the car segment retaining its value better than the truck segment as a whole. However, compact vans saw their values strengthen by 1.17%, outperforming all other vehicle segments.
Tags: Black Book, used-vehicle values, vehicle depreciation, wholesale values
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