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January 30, 2018 - Industry News

PAR North America Announces Key Leadership Changes

The announced promotions are aimed at fortifying the company's compliance capabilities to deliver the next generation of integrated compliance products and services, officials said.

January 30, 2018 - Industry News

Car Care Council Releases List of Top 10 Most Common Vehicle Repairs

Changing oil and oil filters, replacing wiper blades and air filters, and scheduled maintenance top the Car Care Council’s list of most common repairs. The list was developed using research from market research firm IMR Inc.

Tags: Car Care Council, IMR Inc., parts and service, Prepaid Maintenance, Vehicle Maintenance

January 30, 2018 - Industry News

American Guardian Announces 2018 Growth Plan, Promotion of Key Executives

As part of its announcement, the F&I product provider revealed several key executive promotions, including the appointment of Jon A. Anderson as president and COO.

Tags: agents, American Guardian Warranty Services, Compass Auto VSC, F&I products, Jon Anderson, vehicle service contracts

January 29, 2018 - Industry News

Study: Dealerships Missing Out With Facebook Messenger, After-Hour Leads

Only 16% of the 1,500 dealerships mystery-shopped by Digital Air Strike responded to internet leads within 15 minutes and 18% didn’t respond at all. Those are just some of the findings in the social media firm’s first Mystery Shop Study.

Tags: Digital Air Strike, digital marketing, Facebook, Internet Leads, social media

January 29, 2018 - Industry News

Autotrader Plans Dramatic Transformation

The online retailer will introduce a series of enhancements designed to deliver higher quality leads to auto dealers and add transparency and speed to the customer experience.

Tags: Autotrader, digital marketing, digital retailing, online F&I, Showroom, Third-party leads

January 25, 2018 - Industry News

Innovate Auto Finance to Service Subprime Portfolio Worth $50 Million

The purchaser and service of vehicle loan portfolios said it has been retained by an unnamed, multinational investment firm to source $50 million worth of subprime auto loan portfolios.

Tags: auto finance, Innovate Auto Finance, subprime

January 25, 2018 - Industry News

FTC Approves Consent Order in Texas Dealer’s Deceptive Advertising Case

The approval settles the FTC's December 2017 complaint against Dallas-based Cowboy Toyota regarding its Spanish-language newspaper ads. The regulator charged the dealership with violations of the FTC Act, TILA and the Consumer Leasing Act.

Tags: auto finance, compliance, Cowboy Toyota, Deceptive Advertising, Federal Trade Commission, leasing

January 25, 2018 - Industry News

Buick, Porsche Win J.D. Power’s New Vehicle Ownership Awards

For its new Total Ownership Experience Awards, J.D. Power looked at results from its five iconic automotive studies to determine which automakers do the best job overall of satisfying customers through the different stages of vehicle ownership.

Tags: Buick, CSI, Customer Service Index, J.D. Power, Porsche, sales satisfaction, Total Ownership Experience Awards, Vehicle Dependability

January 24, 2018 - Industry News

Canada's iA Financial Group Completes Acquisition of SouthwestRe, DAC

iA Financial Group has completed its acquisition of the third-party administrator and its insurance arm, Dealers Assurance Co. Both companies will now operate as fully owned subsidiaries of iA.

Tags: Dealers Assurance Company, F&I products, iA Financial Group, Mergers and Acquisitions, reinsurance, SouthwestRe

January 24, 2018 - Industry News

Ally Enters Retail Financing Agreement With DriveTime

Ally Financial said it will make up to $750 million available to DriveTime for the purchase of retail contracts over the coming year.

Tags: Ally Financial, auto finance, DriveTime, used vehicles

January 24, 2018 - Industry News

CDK Global: Fixed Ops Profitability Is Within Reach

CDK Global details four actions dealers can take to boost service department revenue in a new report.

January 24, 2018 - Industry News

Autosoft DMS Adds Black Book Values

A new partnership agreement between Black Book and Autosoft will integrate Black Book’s vehicle valuation data into Autosoft’s dealer management system.

January 24, 2018 - Industry News

Autotrader Plans Dramatic Transformation

The online retailer will introduce a series of enhancements designed to deliver higher-quality leads to auto dealers and add transparency and speed to the customer experience.

January 23, 2018 - Industry News

Darwin Updates F&I Platform to Address Military Lending Act Rules

Darwin today announced a new update to its F&I sales platform designed to address the interpretive rule the Defense Department issued last month under the MLA.

Tags: compliance, credit insurance, Darwin Automotive, Department of Defense, GAP, Military Lending Act

January 23, 2018 - Industry News

AutoGravity Reaches New Milestone

More than 1.3 million Americans have used AutoGravity’s car-shopping and financing platform, which surpassed $2 billion in finance amount requested in 2017.

January 23, 2018 - Industry News

CNAN Recaps Year of Milestones, Awards, Tech Advancements

CNA National said it has now paid more than $3 billion in claims for all product lines since the company’s founding in 1982. That’s just one of the achievements the company notched in 2017, a year in which the company introduced a new product and passed the four million mark for VSCs in force.

Tags: CNA National, F&I products, vehicle service contracts, Z2 Series

January 23, 2018 - Industry News

Lending Tree: Used-Car Buyers Stretch for Some Brands

Lending Tree has ranked the used-car brands Americans will stretch their finances furthest to afford.

January 23, 2018 - Industry News

JD Power Enters F&I Space

The launch of J.D. Power Automotive Protection Products marks the data and insight provider’s first foray into the finance office.

January 23, 2018 - Industry News

Manheim Reports Growth in Digital, Mobile Channels

The auction company’s directors say record-level activities in 2017 portend further growth for its offsite channels this year.

January 22, 2018 - Industry News

Zurich to Focus Heavily on F&I in 2018

Zurich North America is reshaping its dealer P&C portfolio to address 'persistent underperformance due to continued volatility associated with large and catastrophic hail losses." As a result, Zurich will focus heavily on F&I in 2018, a spokesperson said last week.

Tags: F&I office, F&I process, F&I products, P&C insurance, vehicle service contracts, Zurich

January 22, 2018 - Industry News

Black Book: Vehicle Depreciation Dropped to 13.2% in 2017

The average price of a used vehicle for model years 2012–’16 depreciated in value by 2.9%. Cars overall dropped by 3.0% and trucks decreased by 2.8% in value during December.

January 22, 2018 - Industry News

Dominion Launches Cloud-Based DMS

Dominion Dealer Solutions announced the launch of Dominion VUE, a new, cloud-based dealer management system.

January 18, 2018 - Industry News

Crowe Horwath Plans Tax Reform Webinar

A free webinar offered by Crowe Horwath will review key considerations for dealers concerned about the effects of the recently enacted federal tax reform.

January 18, 2018 - Industry News

TagRail Launches Digital Retail Platform

Add TagRail to the growing list of companies offering a digital retail platform. The company’s online car-buying tool is designed to close more online shoppers through a frictionless online transition from their living room to the showroom.

Tags: auto finance, digital retailing, F&I products, online F&I, TagRail, technology

January 18, 2018 - Industry News

Jumpstart: Mustang Most-Viewed Vehicle of 2017

The Ford Mustang drew more interest from car buyers than any other vehicle for the fourth consecutive year, according to the latest report from Jumpstart Automotive Media.