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April 17, 2017 - Industry News

NADA: New-Car Dealerships Employ Record Numbers in 2016

According to the trade group’s NADA Data 2016 report, dealership employees had one of the highest average salaries of any industry.

Tags: employment, F&I, fixed operations, NADA Data Report, National Automobile Dealers Association, new-vehicle sales, used-vehicle sales

April 12, 2017 - Industry News

NAE/NWAN Names New President

David Neuenschwander was promoted from vice president to president after becoming an equity partner of both companies. He succeeds Kelly Price, who will now serve as CEO.

Tags: F&I products, Kelly Price, NAE, NWAN

April 12, 2017 - Industry News

Survey: Dealers Overestimating Customer Trust

The results of a survey of 400 dealers at the NADA convention indicate many dealers are overestimating customer trust, their sales team’s product knowledge, and the need to offer discounts.

April 12, 2017 - Industry News

Audi Names U.S. Sales Chief

The automaker has appointed Cian O'Brien to head sales in the United States as executive vice president and COO.

Tags: Audi, Cian O'Brien

April 12, 2017 - Industry News

Swapalease: Lease Credit Approvals Strong Again in March

Despite rising incentives and an increase in the number of lease returns to dealerships, auto dealers continue to push lease deals. And according to the online lease marketplace, approval rates have hovered above 70% for two straight months so far in 2017.

Tags: lease, Swapalease.com

April 12, 2017 - Industry News

TradeRev Adds New Features to Online Auction

The startup added a title concierge service to help dealers secure titles on vehicles purchased through its automotive exchange. The firm also added an account lookup feature so users can track all money movement between sellers and buyers.

Tags: Inventory Management, online auction, TradeRev

April 12, 2017 - Industry News

Volkswagen Boosts Warranties for 2018 SUVs

Photo of 2018 Tiguan courtesy of VW.

The German automaker recently announced it will offer a six-year or 72,000-mile warranty on its Atlas mid-size SUV and Tiguan compact SUV for the 2018 model year. The upgraded warranty marks a significant upgrade from the 2017 Tiguan.

Tags: F&I products, vehicle service contracts, vehicle warranties, Volkswagen

April 11, 2017 - Industry News

J.D. Power: Waiting Service Customers Want Snacks

The market research firm found that older customers prize complimentary snacks and beverages as well as newspapers and magazines, while members of Generation X and Y want wireless internet access.

April 11, 2017 - Industry News

Subaru Wins Best Overall Brand in KBB's Brand Image Awards

Subaru, Lexus and Ford take top honors with the highest average scores among all 12 brand watch factors. The awards are based on consumer automotive perception data from Kelley Blue Book Strategic Insights' Brand Watch study.

April 11, 2017 - Industry News

EasyCare Names New Head of Agency Experience

The F&I product provider named Sally Freeman vice president of agency experience. She joins the company in the midst of an ongoing campaign to add more agents to its roster.

Tags: EasyCare, F&I products, general agents, Sally Freeman

April 11, 2017 - Industry News

RoadVantage Adds Space, Personnel

The F&I program provider is in the midst of an expansion of its sales and customer service operations.

April 10, 2017 - Industry News

GWC Warranty Introduces Improved Coverage Lookup Tool

Owners of a GWC Warranty contract simply enter their last name and either an ID card number or the last six digits of their VIN to access a coverage snapshot. A new coverage details link also allows drivers to access a soft copy of their contract.

Tags: F&I products, GWC Warranty Corporation, Used-Vehicle Service Contracts

April 10, 2017 - Industry News

‘Car and Driver’ Enters Lead-Gen Arena With Inventory Listing Product

Company officials said the announcement marks the brand’s evolution into a complete decision-making resource for in-market auto shoppers.

Tags: Car and Driver, digital marketing, lead generation, Third-party leads

April 10, 2017 - Industry News

Morgan Stanley: Used-Car Values Could Fall by 50%

A new report from Morgan Stanley identifies several key factors that could cut used-car values in half by 2022.

Tags: auto finance, Morgan Stanley, Stretching Loan Terms, Subprime Financing, used-vehicle pricing, vehicle depreciation

April 10, 2017 - Industry News

Alpha Warranty Helps Out Food Bank

On Wednesday, March 8, Alpha Warranty hosted a volunteer night at the Utah Food Bank, an organization whose mission is to fight hunger and serve those in need across Utah. Alpha employees gathered together at the food bank warehouse to sort and organize incoming food donations for distribution.

Tags: Alpha Warranty Services, charity giving, F&I products

April 10, 2017 - Industry News

Manheim: Used-Car Reports Signal Stability

Despite declining wholesale values in March, first-quarter pricing for used vehicles showed a year-over-year increase from the first quarter of 2016.

April 10, 2017 - Industry News

DeLong Named VP of Covideo

Thirty-year industry veteran Mike DeLong has been tapped to lead Covideo’s Dealer Services division.

April 10, 2017 - Industry News

CNA National Appoints New Vice President of Claims

MIke Bacosa, a more than 20-year veteran of the company, takes over as vice president of claims. He first joined the company as an adjuster and has spent the last seven years leading CNAN's claims organization as a senior manager.

Tags: CNA National, F&I products, warranty claims

April 10, 2017 - Industry News

AutoLoop Studies Reveal Reasons Dealers Fail to Convert Leads Into Buyers

Reasons include inadequate explanation of pricing and value proposition, lack of timely follow up, and not using leads’ preferred follow-up communication methods.

April 10, 2017 - Industry News

American Financial's F&I University Now Offers F&I Compliance Certification

The income development company has partnered with Automotive Compliance Education LLC to provide its dealer customers with a new F&I compliance certification program, which will be offered through the firm's F&I University.

Tags: American Financial & Automotive Services, Automotive Compliance Education, compliance, F&I training, F&I University

April 7, 2017 - Industry News

AFSA to Congress: The CFPB ‘Needs to Be Reined In’

A day after House Republicans called for the dismissal of CFPB Director Richard Cordray, the American Financial Services Association called on Congress to reform the bureau’s practices and amend its structure.

Tags: arbitration agreements, auto finance, CFPB, dealer participation, Disparate Impact, Jeb Hensarling, Richard Cordray

April 6, 2017 - Industry News

FTC Approves Settlements With CarMax, Asbury, West-Herr

The Federal Trade Commission last week approved settlements with CarMax, Asbury Automotive, and West-Herr Automotive Group, which the regulator charged with failing to disclose that some pre-owned vehicles offered for sale had unrepaired safety recalls despite the companies' claims of rigorous vehicle inspections.

Tags: Asbury Automotive, CarMax, Federal Trade Commission, GM Recalls, NHTSA, Recalls, Takata, West-Herr Automotive

April 6, 2017 - Industry News

Simple Recon Adds Amazon Alexa Skill

New integration promises direct inventory updates without the need to log into an app or website.

April 6, 2017 - Industry News

NADA Sticks to 17.1 Million-Unit Forecast

NADA’s leadership is bullish on the new-car market despite economic concerns that could compel some buyers to opt for pre-owned units. Photo by htmvalerio

The National Automobile Dealers Association (NADA)’s chairman and chief economist cited strong demand and rising wages among high-income earners as reasons to be optimistic about new-car sales.

April 6, 2017 - Industry News

5 Vehicle Segments Retain or Increase Values in March, Black Book Reports

The vehicle valuation firm reported today that the average used vehicle for model years 2011-2015 depreciated slightly 0.6%. Cars overall recorded depreciation of 0.3%, while trucks registered depreciation of 0.8%.

Tags: Black Book, used-vehicle values