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October 31, 2017 - Industry News

Boston Volvo Village Partners With New Balance Fitness Club

The partnership allows the dealership’s customers to work out while their cars are being serviced. It adds to a long list of benefits Boston Volvo currently offers, including 40 courtesy loaner vehicles, daily shuttles to Boston and Cambridge and complimentary Uber transportation.

Tags: Boston Volvo Village, Customer Experience, customer serice, parts and service

October 30, 2017 - Industry News

Auto/Mate Earns Eighth Straight Best Workplace Award

Auto/Mate Dealership Systems has been named a ‘Best Place to Work’ by the Albany Business Review for the eighth consecutive year.

October 27, 2017 - Industry News

Marchex Announces Accuracy Enhancements to Conversation Analytics

Marchex claims nearly 15% comparative improvement in components of speech analytics accuracy, providing marketers and sales teams with actionable insights from phone conversations between consumers and brands.

October 27, 2017 - Industry News

PaymentVision Partners With Quotepro

A new integration promises new options and an expansion of services for both companies and their clients, including auto dealers and auto finance companies.

October 27, 2017 - Industry News

Study Finds Major Gaps in Call-Handling Performance

A study released by Marchex and based on 8 million calls to U.S. auto dealers found that nearly one-fifth of calls went unanswered or were abandoned by the customer, representing millions of dollars in lost revenue.

October 25, 2017 - Industry News

KBB: New-Vehicle Sales Expected to Fall 2% in October

Despite the expected decline, October looks to be relatively strong on strong replacement demand in hurricane-impacted states and higher incentive spending. Kelley Blue Book analysts, however, believe these are indicators that new-vehicle demand is still contracting.

Tags: Fiat Chrysler, Honda, Kelley Blue Book, new-vehicle sales, Nissan, SAAR, Toyota, Volkswagen

October 25, 2017 - Industry News

Report: Dealers Are Less Progressive Than They Think

The latest edition of eLEND Solutions’ Digital Retailing Survey finds most dealers describe themselves as willing to adopt digital retailing but actual adoption rates — and levels of understanding — are wanting.

October 25, 2017 - Industry News

Pence Casts Tiebreaking Vote to Kill CFPB's Arbitration Rule

The vice president cast his tiebreaking vote late Tuesday night. The measure now heads to President Trump's desk, where it is likely to be signed. Once it does, not only will the CFPB's arbitration rule be invalidated, the bureau won't be allowed to issue a similar rule unless authorized to do so in a subsequent law.

Tags: Arbitration, CFPB, compliance, F&I products

October 25, 2017 - Industry News

Survey: Lack of Tech Has Millennials Avoiding Dealership Jobs

A new survey from Roadster shows that when it comes to millennials, the car business ranks just behind 'politician' and 'tax collector' as occupations they'd like to avoid.

Tags: car dealerships, digital retailing, Millennials, online F&I, Roadster, technology

October 24, 2017 - Industry News

Consumer Advocacy Group Calls for Regulatory Review of F&I Product Pricing

The National Consumer Law Center is calling on lawmakers and regulators to investigate how dealers price F&I protections, claiming that an analysis of approximately 1.8 million vehicle transactions revealed inconsistent and discriminatory price markups over a span of six years.

Tags: auto finance, CFPB, compliance, dealer markups, F&I products

October 24, 2017 - Industry News

Auto/Mate Wraps Up Annual User Summit in San Antonio

Auto/Mate’s annual User Summit drew more than 100 customers for three days of sessions and networking.

October 24, 2017 - Industry News

Flick Fusion Releases VidCom Mobile App

Flick Fusion’s new VidCom mobile app was designed to offer auto dealers a multiplatform video communications tool.

October 24, 2017 - Industry News

ELEAD1ONE Delivers 70% Service Appointment Set Rate for Florida Group

The fixed ops director for Florida’s Gettel Automotive Group credits ELEAD1ONE with effecting a customer experience improvement that drove a 15% increase in fixed ops gross.

October 23, 2017 - Industry News

September’s Lease Approval Rate Falls to Lowest Level in 2017

September’s rate was recorded after August’s 68.3% approval rate. The car leasing marketplace attributed September’s rate to the effects of hurricanes Harvey and Irma.

Tags: credit approval rate, Lease, Swapalease.com

October 23, 2017 - Industry News

Scott Painter’s Fair Raises Up to $1 Billion in Debt and Equity Funding

Fair’s latest funding round was led by BMW iVentures and includes investments from Penske Automotive Group and other investors. The startup also raised nearly $1 billion in debt funding from a group of investment banks and a Sherpa Capital-led entity.

Tags: digital retailing, Fair, George Bauer, online F&I, Scott Painter, TrueCar

October 19, 2017 - Industry News

Honcker Raises $3.6 Million, Expands to Eight States

Honcker announced the closing of a seed financing round led by Evolution Corporate Advisors and the expansion of its car leasing marketplace into a total of eight states.

October 19, 2017 - Industry News

TradeRev Announces Sales Leadership Changes

TradeRev has enhanced the role of Executive Vice President Keith Crerar while promoting Will Farmer to executive director of U.S. dealer sales and hiring Vince McNeal as executive director of commercial sales for the U.S. and Canada.

October 19, 2017 - Industry News

Fastlane Partners With F&I Express

Fastlane has partnered with F&I Express to incorporate VIN-specific vehicle service contract and aftermarket pricing in its dealer-focused online car-buying platform.

October 18, 2017 - Industry News

New York AG Reaches Two New Settlements in Payment Packing Crackdown

The attorney general's two-year crackdown on payment packing and the unlawful sale of credit repair services has resulted in 13 dealership settlements and more than $19 million in total restitution and penalties.

Tags: Credit Forget It, credit repair services, Eric T Schneiderman, F&I manager, jamming, payment packing

October 18, 2017 - Industry News

Assurant to Buy The Warranty Group in $2.5 Billion Deal

Under the transaction agreement, Assurant Inc. will become a wholly owned subsidiary of TWG Holdings Limited, whose name will be changed to Assurant Ltd. Assurant shareholders will own approximately 77% of the combined company, while TPG and its affiliates will own the remaining 23%. The transaction is expected to close in the first half of 2018.

Tags: Assurant Solutions, F&I products, The Warranty Group, vehicle service contracts, warranty

October 18, 2017 - Industry News

George Nenni Joins T3 Consulting Group

Nenni will use his three decades of auto tech experience with Dealer Specialties and Dominion Dealer Solutions to enhance vendor and dealer operations.

October 18, 2017 - Industry News

Zanan to Release Guide to Digital Success

Automotive retail and compliance expert Max Zanan is set to release ‘Perfect Dealership,’ a new book designed to serve as an auto dealer’s guide to surviving the Digital Age.

October 18, 2017 - Industry News

CarStory Launches Dealer Sales Prediction Leaderboard

CarStory’s new, AI-driven predictive analytics interface was designed to show dealers how their sales will rank in their local markets.

October 17, 2017 - Industry News

Non-Houston Used-Vehicle Values Fall

Depreciation increased for both cars and light trucks, with car segments recording the highest weekly depreciation in seven weeks. Prices in the Houston-area, however, remain elevated, according to the firm.

Tags: Auction, Black Book, used-vehicle values, vehicle depreciation

October 17, 2017 - Industry News

vAuto Founder Dale Pollak Publishes Fourth Book For Retail Automotive

‘Like I See It’ has already achieved best-seller status based on preorder sales. The book devotes chapters to margin compression, increased OEM control and financial reliance of their dealer partners, technology disruption and consumer preferences for digital retailing.

Tags: Customer Experience, Dale Pollak, digital retailing, inventory management, online F&I