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October 10, 2017 - Industry News

Cox Names Patrick Brennan to SVP Post

Cox Automotive has promoted Patrick Brennan to the role of senior vice president of marketplace for the company’s Inventory Solutions Group.

October 6, 2017 - Industry News

DealerStrong Releases 2017 Special Finance Benchmark Report

Developed in partnership with ProMax Unlimited, DealerStrong’s 2017 Special Finance Benchmark Report includes metrics derived from more than 300,000 new- and used-car dealership transactions.

October 5, 2017 - Industry News

CFPB Finalizes Small-Dollar Lending Rule

In announcing the rule, the bureau used wording the American Financial Services Association said makes an important distinction between traditional installment lending and payday and title lending.

October 5, 2017 - Industry News

US Equity Advantage Adds Four Markets

US Equity Advantage has expanded into Mississippi, New York, Tennessee and Washington, D.C., growing its territory to a total of 37 states.

October 5, 2017 - Industry News

LotLinx Announces Canadian Expansion

LotLinx has launched an invitation-only campaign to take its proprietary TURN artificial intelligence platform north of the border.

October 4, 2017 - Industry News

Alpha Warranty Celebrates 15th Anniversary

Over the past 15 years, the F&I product provider has earned multiple industry awards and distinctions for the service it provides to customers, agents, and dealers alike. It was recently acknowledged as the 11th fastest growing business in Utah.

Tags: agents, Alpha Warranty Services, dealers, F&I manager, F&I office, F&I products

October 4, 2017 - Industry News

Jaguar Land Rover Honors Winners of Marque of Distinction Award

Jaguar Land Rover North America LLC announced the 14 winners of its 2016/17 Marque of Distinction awards, which are the highest individual retail employee honor within the company's Journey to Excellence retailer reward and recognition program.

October 4, 2017 - Industry News

AutoBuy Adds Locations, Auction Partnerships

New Florida locations open inside Adesa Auction in Sanford and Manheim in Orlando are expected to increase buy/sell volume by more than 40% and create a unique remarketing model.

October 4, 2017 - Industry News

CarStory Delivers AI Insights to Flick Fusion

A new partnership combines CarStory’s artificial intelligence-based insights with Flick Fusion’s video marketing platform.

October 4, 2017 - Industry News

Wes Lutz Elected 2018 NADA Chairman

Michigan auto dealer Wes Lutz has been elected as the National Automobile Dealers Association’s chairman for the 2018 term, for which Texas dealer Charlie Gilchrist will serve as vice chair.

October 4, 2017 - Industry News

CDK Global, CarGurus Partner on New Marketing Solutions

Through the collaboration, dealers using CDK websites will gain exposure for their inventory as well as high-quality leads from CarGurus.com. CDK will also leverage the online automotive marketplace’s anonymized, aggregated data in its suite of automotive digital marketing solutions.

Tags: CarGurus, CDK Global, digital marketing, Internet Leads, inventory merchandising

October 4, 2017 - Industry News

Ford to Focus on Trucks, EVs, Connectivity

Photo of CEO Jim Hackett courtesy of Ford.

Ford CEO Jim Hackett said on Tuesday the automaker plans to reduce engineering costs by 50% through 2022. Ford will also shift investment into trucks and electrified vehicles, and reduce costs and investment in sedans and internal combustion engines.

Tags: Connected Vehicle, Electric Vehicles, Ford, Jim Hackett, Trucks

October 4, 2017 - Industry News

Diamondbrite N.A. Now Approved Provider on Universal Lenders' The Zero Plan

The partnership will allow dealers to provide customers who purchase Diamondbrite N.A. products, which include lifetime warranted paint, fabric, wheel, and leather protection, with premium financing through The Zero Plan.

Tags: Diamondbrite N.A., paint and fabric, The Zero Plan, Tire and Wheel, Universal Lenders

October 4, 2017 - Industry News

Black Book’s Index Records Largest Single-Month Increase Since 2012

Fueling the increase was vehicle replacement activity related to Hurricane Harvey, which began last month. According to Black Book, compact cars, compact crossover SUVs, full-size cars, and mid-size cars each realized significant month-over-month increases within the index.

Tags: Black Book, Hurricane Harvey, Used Vehicle Retention Index, used-vehicle values

October 3, 2017 - Industry News

KBB: September’s Avg. New-Vehicle Price Up $144 From a Year Ago

New-car affordability continued to be a challenge for car buyers, with the average transaction price closing in on $35,000 in September.

Tags: Acura, Average Transaction Price, Buick, Chevrolet, General Motors, Honda, Kelley Blue Book

October 3, 2017 - Industry News

CUDL: Credit Unions Capitalizing on Bank Retreat

Credit unions and captives continued to take advantage of the pullback by banks in the second quarter. The message coming out of CU Direct (CUDL)’s Sept. 28 webcast is that credit unions need to act fast before banks reconfigure their strategies.

Tags: auto finance, banks, Captive, credit unions, CU Direct

October 3, 2017 - Industry News

Sending Out an SMS: Car Buyers Prefer Texting to Calls

PERQ’s latest Car Buyer Insights Report upends preconceived assumptions about customers, finding that the majority of website visitors are not in the ‘buy’ phase and phone calls are their least desired method of contact.

October 3, 2017 - Industry News

Matt Weinberg Joins Drive Motors as SVP

Former Showroom Logic CSO Matt Weinberg joins Drive Motors as the ecommerce firm’s senior vice president of consumer experience.

October 2, 2017 - Industry News

Cox Offers RPM Access to Independent Dealers

Cox Automotive divisions RMS Automotive and Manheim have built a new co-listing capability into RPM, the company’s Nissan/Infiniti digital sales platform. The feature was designed to give independent dealers the opportunity to source OEM vehicles before they cross the auction block.

October 2, 2017 - Industry News

JD Power Appoints King Head of Data and Analytics

Thomas King has been promoted to the new position of senior vice president of data and analytics for J.D. Power following a ‘comprehensive national search’ for the ideal candidate.

October 2, 2017 - Industry News

MUSA Now Offering Auto-Decisioning on New and Pre-Owned Leases

With MUSA's auto-decisioning capabilities, dealers can expect callbacks within 30 seconds, according to officials. They say dealers don't have to be leasing experts to get one done with the company.

Tags: auto finance, MUSA Auto Finance, new-vehicle leasing, used-vehicle leasing

October 2, 2017 - Industry News

Auto/Mate Integrates DMS With Oplogic's Dealer Operator

Dealers using both Auto/Mate’s DMS and Oplogic’s CRM can now benefit from the increased sales and operations intelligence shared in real time between the two systems.

Tags: Auto/Mate Dealership Systems, CRM, data integration, DMS, DMS integration, Oplogic

September 29, 2017 - Industry News

Volkswagen Extends Powertrain Warranty to Six Years/72,000 Miles

The new warranty doubles the automaker's current three-year, 36,000-mile warranty. Called the People First Warranty, the coverage can be transferred to subsequent owners for up to six years or 72,000 miles from the date it was first sold new.

Tags: Powertrain Coverage, vehicle service contracts, Volkswagen

September 28, 2017 - Industry News

RMS Automotive Adds Carfax Search to Digital Sales Platform

Dealers with a Carfax Advantage account can now use Carfax information when searching for inventory through manufacturers’ digital sales platforms powered by RMS Automotive. BMW Financial Services NA LLC is the first company to incorporate the search function into its RMS-powered digital marketplace.

Tags: Auto Auctions, Carfax, remarketing, RMS Automotive, vehicle history report

September 28, 2017 - Industry News

SpringboardAuto Expands Operation to 22 States

Founded by Jim Landy and other auto finance veterans, the digital retailing company is looking to revolutionize the automotive fintech space behind a set of self-serve, real-time finance tools. So far in 2017, the firm reports a compound monthly growth rate for completed loans of 20%.

Tags: auto finance, digital retailing, Jim Landy, online F&I, SpringboardAuto