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June 8, 2016 - Industry News

DealerSuccess Launches Geo-Based Marketing Plugin for Dealer Websites

Marketing firm DealerSuccess launched a website conversion tool called ConversionBlaster. It's a plugin for dealer websites designed to target people for specific campaigns based on their geographical location and their proximity to predetermined geofences.

Tags: Campaigns, DealerSuccess, Geo-Fence, Marketing

June 8, 2016 - Industry News

Sun Toyota Names New Finance Director

Florida-based Sun Toyota announced today that it has promoted F&I Manager John Ancona to the director's role. He will be responsible for department staffing, training, and operations, as well as cultivating relationships with finance sources.

Tags: F&I , Promotion, Scion, Toyota

June 8, 2016 - Industry News

Wholesale Prices Rise Again in May, Manheim Reports

Wholesale used-vehicle prices increased again in May, suggesting dealers have continued to achieve efficiency gains that allow them to bid-up auction prices even as gross margins narrow, according to Manheim’s Used Vehicle Value Index.

Tags: Manheim, Manheim Used Vehicle Report, used-vehicle values, Wholesale Pricing

June 8, 2016 - Industry News

ADESA Launches National Accounts Team for AutoVIN

ADESA announced today the formation of a new national accounts team for its AutoVIN subsidiary. Leading the team will be Amy Weisenburger.

Tags: ADESA, AutoVIN, hiring

June 7, 2016 - Industry News

Reynolds and Reynolds Releases LAW Kentucky F&I Library

The Reynolds and Reynolds Co. has released a comprehensive catalog of standardized, legally reviewed F&I documents for automobile dealers in the state of Kentucky.

Tags: Compliance, F&I , Reynolds & Reynolds

June 7, 2016 - Industry News

NADA Announces New Senior Vice President of Dealership Operations

Peter L. Fong has joined the National Automobile Dealers Association as senior vice president of dealership operations. One of his key areas of interest will be to accelerate the process of moving dealerships toward the ‘online to in-store’ car-buying experience for consumers.

Tags: Dealership Operations, hiring, NADA, National Automobile Dealers Association

June 7, 2016 - Industry News

General Motors Appoints New Director of Dealer Development

General Motors named Mark Rainey director of dealer development. He will be responsible for the growth of minority and female dealers within the automaker's U.S.-based Chevrolet, Buick-GMC and Cadillac dealer networks, according to the company.

Tags: Dealership, General Motors, hiring

June 7, 2016 - Industry News

SNAAC Makes Greater Cincinnati's 'Top Workplaces of 2016' List

The Ohio-based auto finance company made Greater Cincinnati’s ‘Top Workplaces of 2016’ list. SNAAC was previously named a ‘Best Place to Work’ in 2015 and 2013.

Tags: auto financing, SNAAC, Subprime Financing, top workplace

June 7, 2016 - Industry News

LHM Dealerships Acquires Three Stores in Denver Area

Dealer Doug Moreland, who sold seven of his Arizona stores to LHM Dealerships in 2013, has struck another deal with the 58-rooftop dealer group. This time, he sold three of his Colorado stores to LHM Dealerships, bringing the number of Colorado stores operated by the group to 11.

June 7, 2016 - Industry News

May Sales Fall 6% From a Year Ago, Autodata Reports

May brought with it two fewer selling days and year-over-year sales declines for most manufacturers. Only four manufacturers — FCA, Hyundai, Kia and Volvo — performed better last month than the same period last year.

Tags: 2016, Autodata Corp, May, Vehicle Sales

June 3, 2016 - Industry News

RouteOne Names New CEO

RouteOne’s board of directors has named Justin Oesterle as the company's new CEO. Like his predecessor Mike Jurecki, who will officially assume his new role as CEO of FordDirect this Monday, Oesterle has been with the company since its inception in 2002.

Tags: auto finance, Credit Applications, Justin Oesterle, Mike Jurecki, RouteOne

June 2, 2016 - Industry News

CFPB Issues Small-Dollar Lending Rule

The Consumer Financial Protection Bureau used its field hearing today to issue its proposed rule targeting what Director Richard Cordray called “payday debt traps.”

Tags: CFPB, Consumer Financial Protection Bureau, Payday Loans

June 2, 2016 - Industry News

RoadVantage Celebrates Fifth Year of Record Growth

The F&I product provider reported a 72% year-over-year increase in new dealers actively selling its programs, as well as a 51% increase in new agent signups for the same period.

Tags: F&I , Promotions, RoadVantage

June 2, 2016 - Industry News

International Nameplates Gaining Market Share, AIADA Reports

Based on its May sales totals, the American International Automobile Dealers Association (AIADA) reported that a larger percentage of new vehicles sold during the month came from international brands.

Tags: AIADA, May Sales, New-Vehicle Sales, SAAR

June 2, 2016 - Industry News

CNA National Wins Diamond Dealers' Choice Award

The company also received the Gold Dealers’ Choice Award in the reinsurance provider category. Combined with this year's honors, CNA National has collected 20 Dealers’ Choice Awards since the competition began in 2005.

Tags: CNA National, Dealers' Choice Awards, Service Contract, Service Contract Provider

June 2, 2016 - Industry News

Protective Wins Platinum Dealers' Choice Award

Protective Asset Protection earned a Platinum award in the service contract provider category of Auto Dealer Today's 2016 Dealers's Choice Awards.

Tags: Dealers Choice Award, Protective Asset Protection, Service Contracts

June 1, 2016 - Industry News

Mortgage Applicants Three Times As Likely to Open New Auto Loans, TransUnion Reports

A new study from TransUnion shows that prime or better mortgage applicants are up to three times as likely to open a new auto loan within 12 months of a mortgage inquiry.

Tags: auto finance, Auto Loans, Car Buyers, mortgage, TransUnion

June 1, 2016 - Industry News

NHTSA Fines Ariz. Dealership $40,000 for Selling New Cars With Open Recalls

The federal agency said Sands Chevrolet violated the Safety Act for selling and delivering new vehicles without fixing safety-related defects. Along with the fine, the dealership was ordered to show that it has taken, or will take, steps to ensure it does not violate the Safety Act again, the settlement agreement states.

Tags: Civil Penalties, Department of Transportation, NHTSA, Recall, Safety

May 31, 2016 - Industry News

Reuters: Former Zurich Insurance CEO Commits Suicide

Reuters reported yesterday that former Zurich Insurance CEO Martin Senn has committed suicide, the second top executive at the group to take his own life in less than three years.

Tags: insurance, Zurich

May 31, 2016 - Industry News

SUV/CUV Loyalty Soars to Record Levels, IHS Automotive Reports

The analysis, which looked at more than 1.9 million return-to-market events during the first quarter, found that 63% of SUV/CUV owners who returned to market for a new vehicle during the first quarter purchased another SUV or CUV.

Tags: Consumer Buying Habits, CUV, Market Trend Analysis, New Vehicle Registrations, SUV

May 31, 2016 - Industry News

Gauss Digital Marketing to Distribute Black Book's Bullseye Prospecting Solution

Black Book's distribution agreement with Gauss Digital Marketing will help expand the footprint of its new Bullseye Prospecting solution, a turnkey platform for dealer marketing campaigns.

Tags: Black Book, Bullseye Prospecting, Gauss Digital Marketing

May 31, 2016 - Industry News

Hearst Autos Names Chief Technology Officer

Hearst Autos has named Ryan Mannion as its chief technology officer. Hearst Magazine announced the formation of Hearst Autos, a collection of its B2B and B2C publications, earlier this month.

Tags: Hearst Autos, Hearst Magazines, hiring

May 31, 2016 - Industry News

KAR Names Vice President of Autoniq Subsidiary

Nicole Archer has been named vice president of Autoniq, a real-time information provider for dealers, according to the company.

Tags: ADESA, Autoniq, Kar Auction Services, Promotion, Vice President

May 31, 2016 - Industry News

Consumers Hungry for Used Leases, Survey Says

A survey conducted by Swapalease.com found that both dealers and car buyers are interested in used-vehicle leasing. Top used vehicles consumers would like to lease include the Cadillac Escalade, CTS, and the Jeep Cherokee, while dealers would like to offer used leases on the Buick Regal, Cadillac CTS and Chevrolet Cruze.

Tags: Lease, Survey, Swapalease.com, Used Vehicles

May 31, 2016 - Industry News

Turks and Caicos Regulator Engages Reinsurance Industry

The Turks and Caicos Islands Financial Services Commission met last week with 20 leading reinsurance experts to elicit their views on proposed improvements to the islands’ regulatory regime and to explore how TCI may remain the domicile of choice of producer affiliated reinsurance companies.

Tags: consumer protection, GAP, producer-affiliated reinsurer, Reinsurance, Service Contracts, Turks and Caicos Islands