Top News

26  -  50  of  2427

October 6, 2016 - Industry News

Reynolds Acquires Wolters Kluwer's Indirect Loan Origination Solutions

Reynolds and Reynolds has completed its acquisition of Wolters Kluwer’s indirect loan origination solutions for around $36 million in cash. As part of the acquisition, Reynolds gets Wolters Kluwer’s AppOne software, risk mitigation services and bankers systems.

Tags: Dealer Software, Indirect Lending, Reynolds & Reynolds, Software, Wolters Kluwer

October 6, 2016 - Industry News

Asbury Opens Nissan Location in Atlanta

Image courtesy of Nissan.

The public dealer group staged a grand opening for its new Nalley Nissan of Atlanta location on Sept. 29. It's the first U.S. dealership to feature the OEM's new Nissan Retail Environment Design Initiative, or NREDI 2.0.

Tags: Asbury Automotive, Dealership, Nissan

October 6, 2016 - Industry News

MAXDigital Adds to Executive Team

Software provider MAXDigital has promoted Patrick McCmullen to senior vice president of Strategy and Innovation, and hired Rebecca Oistad as the company’s vice president of marketing.

Tags: Hiring, MAXDigital, Promotion, Senior Vice President, Vice President

October 5, 2016 - Industry News

GM, Costco Team Up on Holiday Sales Event

Last year, the three-month promotion resulted in 58,000 vehicle sold, a 34% increase from the year prior. According to Costco officials, more than half of the people who purchased vehicles during the 2015 event said they switched to a General Motors brand because of the promotion.

Tags: Costco Auto Program, General Motors, Lead Generation

October 5, 2016 - Industry News

Former AutoNation Direct Head Joins CU Direct

Ron Frey, former chief strategy officer and president of AutoNation Direct, has joined CU Direct as chief strategy officer of its automotive solutions. He will oversee the planning and direction of automotive solutions for the credit union technology provider.

Tags: AutoNation, Chief Strategy Officer, CU Direct, CUDL, Hiring, TrueCar

October 5, 2016 - Industry News

Mercedes-Benz Captive Now Available on AutoGravity's Auto Financing App

AutoGravity, a new car-shopping app that allows car shoppers to arrange their financing, has added Mercedes-Benz Financial Services. The partnership gives AutoGravity users access to the captive's loan and lease offers.

Tags: AutoGravity, Mercedes-Benz Financial Services, Mobile Applications, Technology

October 4, 2016 - Industry News

Black Book: Truck Segment Showing Higher Depreciation

Last week, cars showed better retention that they did the previous four weeks, while trucks depreciated more than they have during that same timeframe, Black Book reported today.

Tags: Black Book, Value Retention, vehicle depreciation

October 4, 2016 - Industry News

ADESA Announces Management Changes at Three Florida Auctions

Jeff York, the previous general manager of ADESA Sarasota, will now lead ADESA Orlando as general manager. Curt Farris, the previous general manager of ADESA Tampa, will now hold the same title at ADESA Sarasota, and Lisa O’Neil, who was previously the assistant general manager at ADESA Atlanta, will now serve as general manager at ADESA Tampa.

Tags: ADESA, Auto Auctions, General Manager, Promotions

October 4, 2016 - Industry News

Chase Teams With TrueCar on New Vehicle-Shopping Portal

Chase Auto Direct, which is being powered by TrueCar, will allow current Chase customers to shop for a new vehicle and secure financing on a desktop computer or smartphone. The portal will then connect shoppers to a dealership in the Chase dealer network.

Tags: Chase, Finance Sources, Online Buying, TrueCar

October 3, 2016 - Industry News

Sansone Named President of Matrix Warranty's Automotive Division

Industry veteran Dominic Sansone was named president of Matrix Warranty Solution's automotive division. He will be responsible for developing new distribution channels, expanding relationships with customers, increasing sales, creating innovative new warranty/service contract programs, and structuring the automotive division for future growth.

Tags: Hiring, Matrix Warranty Solutions, President, Service Contracts

October 3, 2016 - Industry News

KBB: Transaction Prices Rise Nearly 3% YOY in September

U.S. consumers paid, on average, $34,372 for a new light vehicle in September, up 2.5% from a year ago but down 0.2% from August, KBB reported this week.

Tags: 2016, Average Transaction Price, KBB, September

October 3, 2016 - Industry News

CNA National Announces Chairman's Award Recipient

CNA National announced this week that claims specialist Marty Bourgeois was selected as the recipient of the 2016 CNA Chairman’s Award. Bourgeois, according to the company, was selected for demonstrating all five of the company's “winning behaviors,” which include accountability, collaboration, continuous learning, external focus, and innovation.

September 29, 2016 - Industry News

Wells Fargo Dealer Services to Pay $4.1 million for SCRA Violations

Wells Fargo Dealer Services has agreed to pay more than $4.1 million to settle charges that it violated the Servicemembers Civil Relief Act (SCRA) when it repossessed 413 vehicles owned by protected servicemembers without obtaining a court order, the U.S. Department of Justice (DOJ) announced on Friday.

Tags: Department of Justice, SCRA, Settlement, Violations, Wells Fargo

September 29, 2016 - Industry News

Nine-Store Los Angeles Group Charged With Payment Packing, Yo-Yo Financing

The Federal Trade Commission today charged nine Los Angeles-area dealerships and their owners with a wide range of deceptive, and unfair sales and financing practices, including payment packing and using "yo-yo" finanicng tactics.

Tags: Compliance, Dealership, Deceptive Advertising, FTC, Regulation M, Regulation Z, TILA

September 29, 2016 - Industry News

Dealership Wages Outpacing Private Sector, NADA Study Shows

Employees at new-car dealerships made, on average, $69,718 a year in 2015, a 1% increase compared to the year prior, according to the NADA’s 2016 Dealership Workforce Study. General managers and F&I managers experienced double-digit percentage earnings growth rates, while sales managers and sales consultants increased 4.5% and 2.7%, respectively.

Tags: Dealership, NADA, Study, Wages

September 29, 2016 - Industry News

5,519 Dealers Now Using DealerVault to Control Their Data

Aside from its customer count, the provider of a cloud-based system designed to put dealers in control of their data announced it now has 450 vendor partners.

Tags: Cloud Service, Cyber Security, Dealership Data, DealerVault, DMS

September 29, 2016 - Industry News

Alpha Warranty Services Releases Claims Tracker

Alpha Claims Tracker allows vehicle owners, dealers, and even agents to track claims in real time on a mobile device. The F&I product provider said the new offering is designed to improve the customer experience.

Tags: Alpha Warranty Services, Mobile Applications, Software, Technology

September 29, 2016 - Industry News

Auto Finance to Get More Competitive, Equifax Reports

Slowing demand for new vehicles points to auto finance sources having to contend with increased compeittion for consumer loans. That was the conclusion of Equifax's Nation Consumer Credit Trends report for August, which showed that auto originations for the first six months of year grew 3.5% compared to a year ago.

Tags: Auto Loans, Equifax, Subprime

September 29, 2016 - Industry News

KAR Promotes Fields to VP of IT Shared Services

Gary Fields, who joined the KAR group in 2003, was promoted to vice president of KAR IT Shares Services. He will be responsible for overseeing the coordination of any enterprise-wide technology solution implementations, as well as identifying and researching relevant emerging technologies.

Tags: IT, KAR Auction Services, President, Promotion

September 28, 2016 - Industry News

Black Book: Car Depreciation Shows Signs of Slowing

The car segment retained its value well last week, with the wholesale value of 2008-2014 model-year cars decreasing by 0.68% last week. This was in line with the 0.67% decline the segment has experienced over the last six weeks, according to Black Book’s Market Insights report.

Tags: Black Book, Depreciation, Wholesale, Wholesale Values

September 28, 2016 - Industry News

Manheim Now Offering Enhanced Vehicle Imaging at 74 Auctions

Manheim has nearly tripled the number of auctions offering enhanced vehicle imaging (EVI), expanding from 25 to 74 locations throughout North America, the company said this week

Tags: Auto Auctions, Inventory Photos, Manheim, Marketing, Online Marketplace

September 27, 2016 - Industry News

Kontos: Average Wholesale Price in August Up 4.6% YOY

ADESA's chief economist reported this week that the continued strength of the truck segment drove a year-over-year increase in wholesale prices, while weak car sales contributed to a month-over-month price decline.

Tags: ADESA, Remarketing, Tom Kontos, Used Vehicles, Wholesale Pricing

September 27, 2016 - Industry News

LMC/J.D. Power: September Sales Expected to Fall Despite Record Incentives

For the fifth time in seven months, J.D. Power and LMC Automotive are predicting a year-over-year decline in new-vehicle retail sales for September. But officials with both firms said the numbers don't point to significant weakness or risk, but the firm does see challenges ahead.

Tags: Forecast, J.D. Power, LMC Automotive, New-Vehicle Sales, SAAR

September 27, 2016 - Industry News

Dataium Founder to Lead LotLinx's New Media Subsidiary

LotLinx Media Holdings, a new subsidiary of LotLinx, has named Eric Brown president, the company announced this week. The behavior data expert will focus on building up LotLinx's media properties and growing the business.

Tags: Hiring, LotLinx, President

September 27, 2016 - Industry News

Helion Offers Tips to Improve Phone Conversions

Thirty-one percent of incoming sales calls and 20% of incoming service calls never reach an agent, according to the call monitoring solution CallRevu. Helion Automotive Technologies' Erik Nachbahr says this statistic can be attributed to a dealership's poorly designed call flow.

Tags: Call Flow, Dealership, Phone Customers, Revenue