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November 28, 2016 - Industry News

Bazaarvoice: Consumer-Generated Content ‘Critical’ to Sales

Ratings, reviews, photos and videos created by customers — collectively known as “consumer-generated content” (CGC) — have become a “critical” component in dealership branding and vehicle sales, according to new research from Bazaarvoice.

November 28, 2016 - Industry News

Pearl Technology Launches Proximity Marketing Platform for Dealers

The new solution, according to Pearl Technology, gives a dealer the ability to circumvent a retail transaction at a competitor’s lot by delivering real-time offers through the customer’s mobile device.

Tags: Marketing, Mobile Marketing, Pearl Technology, Proximity Marketing, Technology

November 28, 2016 - Industry News

Mechanical Breakdown Protection Inc., PEN Announce Integration Pact

F&I product provider Mechanical Breakdown Protection Inc. (MBPI) is now plugged into the Provider Exchange Network as part of an integration pact the two companies announced this week.

Tags: DMS, Mechanical Breakdown Protection, Partnership, Provider Exchange Network, Technology

November 28, 2016 - Industry News

One View Appoints 18-Year Auto Industry Veteran as Director of Sales

In his new role, Warren Miller will drive sales and processes, maintain current customer satisfaction and facilitate long-term relationships with automotive dealerships, CPAs and partners.

Tags: Director of Sales, Hiring, One View

November 28, 2016 - Industry News

Age of Vehicles Reaches 11.6 Years

The average age of light-duty vehicles on U.S. roadways increased to 11.6 years this year. Vehicle registrations also climbed 2.4% from a year ago to 264 million, according to IHS Markit.

Tags: Aging Fleet, IHS, IHS Markit, New Vehicles, Used Vehicles

November 22, 2016 - Industry News

NADAUCG Releases Retention Rankings for One-Year-Old Models

Photo courtesy of Toyota. 

The NADA Used Car Guide issued a report that examines retention performance for 33 all-new or redesigned mainstream and luxury models. Leading the list were the 2016 Toyota Tacoma, Honda Pilot and Volvo XC90.

Tags: Honda, NADA, NADA Used Car Guide, Toyota, Volvo

November 22, 2016 - Industry News

Kerrigan Advisors: Dealership M&A Activity Down in 2016

Buy/Sell activity remains strong, but the firm believes activity could slow in the fourth quarter as sellers hope for a more favorable tax rebate on their sales proceeds in 2017.

Tags: Kerrigan Advisors, Mergers and Acquisitions, Tax Benefits, The Blue Sky Report, Trump

November 22, 2016 - Industry News

MBPI Partners With F&I Express

The partnership, the company stated, will help the F&I office increase sales penetration and improve dealer and customer satisfaction by decreasing customer delivery time.

Tags: F&I Express, Mechanical Breakdown Protection, Partnership

November 22, 2016 - Industry News

FCC, Canadian Regulator Sign Robocall Agreement

The FCC’s Enforcement Bureau and the Canadian Radio-Television and Telecommunications Commission have agreed to cooperate and share intelligence to combat unlawful automated telephone calls.

Tags: Federal Communications Commission, Robocalls, telemarketing

November 22, 2016 - Industry News

Car Shoppers Looking for Deep Discounts, SUV/CUVs on Cyber Monday, Survey Shows

Jumpstart Automotive surveyed approximately 2,500 consumers to gauge their interest in buying a car on Cyber Monday. According to results, 33% of men and 35% of women would be most interested in shopping for SUVs/CUVs on Cyber Monday.

Tags: Cyber Monday, Dealerships, Jumpstart Automotive, Online Marketing

November 21, 2016 - Industry News

Auto/Mate Employees Tout 1,000-Plus Years of Combined Dealership Experience

Auto/Mate Dealership Systems today announced that after its latest round of hiring, its employees have surpassed 1,000 years of combined experience working in car dealerships.

Tags: Auto/Mate, Customer Service, Dealership

November 18, 2016 - Industry News

NADA Study: Mobility Services, Autonomous Vehicles Biggest Risk to Dealership System

The single biggest risk to the dealership system within the next decade will be the convergence of mobility services with autonomous vehicles. That’s the conclusion of a new research project commissioned by the National Automobile Dealers Association.

Tags: Dealership, Industry Research, J.D. Power, NADA

November 18, 2016 - Industry News

Hyundai Offers Subscription-Based Vehicle Ownership

Photo of 2017 Ioniq Electric courtesy of Hyundai.

Hyundai will offer a subscription-based approach to vehicle ownership with its 2017 Ioniq Electric sedan that will allow customers to acquire the vehicle for a fixed monthly fee that covers all costs of ownership, Hyundai announced ahead of the Los Angeles Auto Show.

Tags: Dealership, Electric Vehicles, Hyundai

November 18, 2016 - Industry News

Stand-Alone Genesis Dealers to Arrive by 2021

Photo of 2017 Genesis G90 by Paul Clinton.

Hyundai's Genesis luxury division hopes to establish stand-alone dealerships for a lineup that will include six models by 2021, according to the automaker.

Tags: Dealership, Genesis, Hyundai

November 17, 2016 - Industry News

Regulatory Insiders: Repeal of Dodd-Frank Possible But Unlikely

Regulatory insiders say there are two ways the Trump administration can deliver on its promise to dismantle the Dodd-Frank. But neither scenario has a high probability of success, they say.

Tags: Consumer Financial Protection Bureau, Dodd-Frank Act, NADA, Regulations

November 17, 2016 - Industry News

RoadVantage Unveils F&I Video to Support Online F&I Strategies

According to the company, the two-minute video was developed in response to recent industry studies showing that consumers would be more willing to purchase F&I protections if they are allowed to learn about them before entering the dealership.

Tags: Dealership, F&I, RoadVantage, Videos

November 17, 2016 - Industry News

Chase Auto Finance Names New CEO

Mark O’Donovan was named CEO of Chase Auto Finance, the finance source announced today. He replaces Thasunda Duckett, who was named CEO of the finance source's consumer banking unit last month.

Tags: Chase, Chase Auto Finance, Promotion

November 17, 2016 - Industry News

Car and Driver Announces '10Best Cars' List for 2017

Car and Driver released its annual “10Best Cars” list for 2017. This list, the company stated, recognizes the best cars on the market for under $80,000.

Tags: 2017, Awards, New Vehicles

November 17, 2016 - Industry News

NextGear Capital Presents Fourth Annual Auction Partners Awards

NextGear Capital presented its fourth annual Auction Partners Awards Wednesday at the Red Rock Casino and Resort in Las Vegas, the site of the 2016 National Automobile Auction Association (NAAA) Convention.

Tags: Auto Auctions, Awards, NextGear Capital

November 16, 2016 - Industry News

NADAUCG: Wholesale Depreciation Remains Steady in October

October’s 3.6% decline in wholesale prices for used vehicles eight years in age was in line with the NADA Used Car Guide’s forecasted range of 3.2% to 3.7%. However, the decline was slightly more than this October than the previous three-year average decline of 3.3% for the period.

Tags: NADA Used Car Guide, used-vehicle values, Wholesale Pricing, wholesale used average

November 16, 2016 - Industry News

Kontos: Wholesale Prices Up Year Over Year, Down From September

As has been the case for much of the year, average wholesale used-car prices were down on a year-over-year basis. In October, the average wholesale used-vehicle price fell by 1.2% compared to the year before. Trucks, on the other hand, continued to realize year-over-year increases in wholesale prices. Compared to last year, truck prices are up 5.1%.

Tags: ADESA, ADESA Analytical Services, Tom Kontos, Used Vehicles, Wholesale Pricing

November 16, 2016 - Industry News

LotPop Announces Release of LotScore

According to the company, the weekly report will score a dealer’s inventory in four key areas: status, marketing, inventory stocking, and inventory return on investment. The end goal, the company added, is to help drive more used-car sales at higher margins.

Tags: Dealer Inventory, LotPop, LotScore, Used Vehicles

November 16, 2016 - Industry News

IntelliChoice Names Kia's CPO Program 'Best Popular Program'

For the second year in a row, IntelliChoice has named Kia Motors America’s certified pre-owned program the 'Best Popular Program.'

Tags: Award, CPO, Kia, Used Vehicles

November 15, 2016 - Industry News

NADA: New Administration Could Push Sales Above 2017 Forecast of 17.1M

The NADA’s chief economist said the industry will sell 17.1 million new units in 2017. That forecast could rise by the end of February — that's if the the new administration delivers on its stated policy objectives.

Tags: 2017, NADA, New-Vehicle Sales, SAAR

November 15, 2016 - Industry News

KBB Announces 2017 Best Buy Awards

Kelley Blue Book announced the winners of its 2017 Best Buy Awards. The big winner was Honda. Not only did it take home four awards, its 2017 Honda Civic was named the Overall Best Buy of 2017.

Tags: Audi, Awards, Best Buy, Chevrolet, Chrysler, Ford, Honda, KBB, Kia, Mercedes-Benz, Porsche, Toyota