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February 15, 2017 - Industry News

Black Book: Luxury Depreciation Spikes

Luxury vehicles continued to struggle last week, as the segment realized some of the highest depreciation rates among all segments, according to the vehicle valuation firm.

Tags: Black Book, Depreciation, Luxury Vehicles, Used Vehicles

February 15, 2017 - Industry News

No Sedans Among KBB’s Top 12 Family Cars

The 2017 Honda CR-V is the top seller among the two-row SUVs Kelley Blue Book included in its latest list of top family vehicles. Photo courtesy American Honda Motor Co. Inc.

Kelley Blue Book’s list of the best family vehicles for the 2017 model year includes eight SUVs, four minivans, and no sedans.

Tags: Chevrolet, Chrysler, Honda, Kelley Blue Book, Kia, Nissan, Subaru, Toyota

February 15, 2017 - Industry News

Hudson Cook LLP Adds Three New Partners

The law firm announced today the election of attorneys Robert Gage, Lauren Hunt, and Jennifer Sarvadi to the partnership.

Tags: compliance, Consumer FInancial Protection Bureau, Federal Trade Commission, Hudson Cook LLP

February 14, 2017 - Industry News

Group 1’s U.S. F&I Team Delivers Record PVR

For the year, the nation’s third largest dealer group grew its U.S. F&I per-copy average by $129 from the prior year to $1,644. Company officials, however, tell investors and equity research analysts ‘not to model anything higher.’

Tags: F&I manager, F&I products, Group 1 Automotive, PVR

February 14, 2017 - Industry News

U.S. Dealers Added Stores, Lost Sales in 2016

Texas dealers led the nation by adding 15 new rooftops in 2016, according to a new report from Urban Science. Photo by LoneStarMike

Urban Science analysts said average per-store sales in the United States fell by a single unit in 2016, despite a slight uptick in rooftops and franchises.

February 13, 2017 - Industry News

Subaru Tops KBB's 5-Year Cost to Own List

Photo courtesy of Subaru.

Subaru and Acura ranked as the top automotive brand in Kelley Blue Book's annual 5-Year Cost to Own awards, which highlights the top luxury and non-luxury brands in 21 vehicle categories.

Tags: Acura, Depreciation, Kelley Blue Book, Subaru

February 13, 2017 - Industry News

VisionMenu Releases Remote F&I

The software maker announced the release of Remote F&I, a remote menu, disclosure and document-signing web application. The new offering comes equipped with vSignature, a patent-pending technology that allows the user to control what a customer views on his or her smartphone. It also allows buyers to esign any document.

Tags: F&I manager, F&I menu, F&I products, Ron Martin, VisionMenu Inc.

February 13, 2017 - Industry News

ALG Sets Bolt EV's Residual Value

The 2017 Chevrolet Bolt EV should retain as much as 39% of its value after three years of retail leasing, which is significantly better than other mainstream competitors, according to ALG.

Tags: ALG, Chevrolet Bolt, Electric Vehicle

February 13, 2017 - Industry News

LeasePlan Names Schlesinger President, CEO

Jeff Schlesinger was named president and CEO of LeasePlan USA, a fleet management company. Schlesinger succeeds Mike Pitcher, who retired as president and CEO at the end of 2016.

Tags: GE Capital, Jeff Schlesinger, LeasePlan USA

February 13, 2017 - Industry News

Exeter Names New CFO

The subprime finance source announced the promotion of Brad Nall to CFO. The more than 25-year veteran of the consumer finance industry has held various senior roles since joining the company in July 2012.

February 9, 2017 - Industry News

GSFSGroup Names New President

Jeff M. Parent, president of GSFSGroup.

The F&I product provider announced this week the appointment of Jeff Parent as president. The 26-year veteran of the automotive business succeeds Steve Amos, who is retiring after nine years as GSFSGroup’s president.

Tags: F&I products, GSFSGroup, Jeff Parent, reinsurance, Steve Amos

February 9, 2017 - Industry News

GWC Warranty Appoints Director of Marketing Strategy

The F&I product provider announced this week the promotion of Mike Silverman, who joined the company in 2014 as manager of product strategy, to director of marketing strategy.

Tags: F&I products, GWC Warranty Corporation

February 9, 2017 - Industry News

AutoNation Slips Below $1,600 Per Copy in Q4

The executive team from the nation's largest auto retailer paints a rosy picture for 2017, despite the effects of the ongoing Takata airbag recall and the looming threat of a Trump administration-ordered border tax on vehicles manufactured in Mexico and sold here.

Tags: AutoNation, Donald Trump, F&I manager, F&I profit per vehicle retailed, PVR, Takata

February 9, 2017 - Industry News

Portfolio Named Endorsed Provider by Wyoming Dealer Association

The dealer reinsurance program manager announced it has entered into an agreement with Wyoming Automobile Dealers Association to bring reinsurance profit participation and retrospective commission programs to the association and member dealers who sell Portfolio F&I products.

Tags: F&I products, Portfolio, reinsurance, Wyoming Automobile Dealers Association

February 8, 2017 - Industry News

F&I Delivers for Asbury in Q4 2016

The group’s F&I operations posted a $60 increase in F&I profit per vehicle retailed during a quarter in which the nation’s eighth largest auto retailer chose volume over margin.

Tags: Asbury Automotive, F&I products, F&I profit per vehicle retailed, new-vehicle sales, used-vehicle sales

February 8, 2017 - Industry News

Carleton Expands Compliance Expertise

Carleton Inc. announced the hiring of Sarah Way, an attorney whose expertise includes business law, contract development and documentation, intellectual property regulations, property insurance law, and other litigation disciplines.

Tags: Carleton, compliance, Sarah Way

February 8, 2017 - Industry News

Jumpstart: Alfa Romeo, Ford, Kia Had Best Super Bowl Commercials

Alfa Romeo's "Dear Predictable" ad took the top spot in Jumpstart's rankings of Super Bowl car commercials. Photo courtesy Alfa Romeo USA

Jumpstart Automotive Media released its annual report listing the Super Bowl car commercials that drove the most online engagement.

February 8, 2017 - Industry News

Volvo Offers Factory Sales to V90 Buyers

A 2017 V90 wagon rolls off Volvo's Gothenburg, Sweden, assembly line. Photo courtesy Volvo Car USA LLC

Volvo Car USA LLC announced that buyers of the 2017 V90 wagon can order their vehicle direct from the OEM’s Gothenburg, Sweden, factory. The service can be initiated online or at a Volvo dealership.

February 8, 2017 - Industry News

ABN Earns GM’s DTAP Certification

Automotive Broadcasting Network has joined the ranks of companies certified by General Motors' Dealer Technology Assistance Program.

February 8, 2017 - Industry News

Zubie Hires CEO Tucker from DealerRater

The connected car and telematics provider announced that Gary Tucker has joined the company as CEO. Tucker leaves his role as CEO of dealer review site DealerRater.com.

Tags: Connected Vehicle, Dealerrater, Gary Tucker, telematics, Zubie

February 7, 2017 - Industry News

President of RouteOne Canada to Retire

Barry McMillan, who has led RouteOne Canada since 2003, will retire at the end of this month. Assuming his duties is Anthony Goulbourne, who was promoted to senior vice president.

Tags: digital retailing, F&I manager, RouteOne Canada

February 7, 2017 - Industry News

EasyCare Makes ‘Best and Brightest Companies To Work For’ List

The National Association of Business Resources named EasyCare to its ‘Best and Brightest Companies to Work For” list, which the association put together in partnership with an independent research firm.

Tags: CoVideo, EasyCare, F&I products, GWC Warranty Corporation, Human Resources

February 7, 2017 - Industry News

Manheim: Wholesale Prices Slipped in January

Manheim's Tom Webb believes the 0.3% year-over-year decrease could have been much worse considering the "sharply rising" supply of used units.

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

February 7, 2017 - Industry News

Rico Glover to Speak at NYC Event

ADT contributor Rico Glover and his team from Bryan Honda will deliver a presentation on dealership digital marketing in New York City next month.

February 7, 2017 - Industry News

Wise F&I Product Suite Now Available Through Reynolds DMS

The connection, which features erating and econtracting capabilities, provides access to the F&I product provider’s full suite of branded protection products, including GAPWise, WiseCARE, TIREWise, WISETVP, THEFTWise and KEYWise.

Tags: DMS, DMS integration, F&I manager, F&I products, Reynolds & Reynolds, Wise F&I