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February 3, 2017 - Industry News

President Trump Orders Review of Dodd-Frank

President Donald Trump took his first step toward making good on his promise to dismantle the Dodd-Frank Wall Street Reform and Consumer Protection Act, signing on Friday an executive order directing the secretary of the Treasury to review the 2010 financial oversight law.

Tags: Consumer FInancial Protection Bureau, Dodd-Frank Act, Donald Trump, Richard Cordray

February 2, 2017 - Industry News

Senate Republicans Introduce CFPB-Restructuring Bill

Senate Republicans have reintroduced legislation aimed at replacing the CFPB’s single-director structure with a five-member bipartisan board. The bill was unveiled as Congressional Democrats and state regulators pledged to defend Director Richard Cordray and his agency.

Tags: Consumer FInancial Protection Bureau, Dodd-Frank Act, Donald Trump, Richard Cordray

February 2, 2017 - Industry News

Last Chance: Podium to Present Webinar on Online Review Management

Register to learn about how online reviews can enhance your online reputation, get you noticed on top sites, and drive customer purchase decisions.

Tags: Dealerrater, Edmunds, Google, online reputation management, online reviews, Podium, Yelp

February 2, 2017 - Industry News

AutoNation Promotes Berman to President

AutoNation has named William "Bill" Berman president and COO of the public dealer group. The 30-year auto retail veteran replaces Mike Jackson, who remains the company's chairman and CEO.

Tags: AutoNation, Marc Cannon, Mike Jackson, William Berman

February 1, 2017 - Industry News

VW Settles Civil Claims for 3.0L Diesels

Volkswagen has agreed to pay $1.2 billion to buyers of vehicles powered by its emissions-violating 3.0L V-6 diesel engine as part of a settlement that still requires approval from the U.S. Federal Trade Commission and a federal judge.

Tags: Federal Trade Commission, Volkswagen, Volkswagen Scandal

February 1, 2017 - Industry News

Pearl Technology Completes Integration With RouteOne

Through RouteOne’s online credit application and econtracting platform, users of Pearl’s Showroom Xpress digital retail platform can contract car buyers on mobile devices and websites.

Tags: digital retailing, econtracting, online credit application, Pearl Technology, RouteOne, ShowroomXpress

February 1, 2017 - Industry News

Average Transaction Price Rises in January

A sales mix in favor of utility vehicles drove up January’s average transaction price 3.3% from a year ago to $34,968. Among the greatest beneficiaries were the Detroit Three, with General Motors leading the way.

Tags: Average Transaction Price, Kelley Blue Book, new-vehicle sales

February 1, 2017 - Industry News

Dent Zone Forms Nobilis Group

Appearance protection solutions provider Dent Zone Companies has announced the formation of Nobilis Group, a new entity consisting of the Dent Zone, AutoBodyGuard and PDR LINX lines of business.

February 1, 2017 - Industry News

Ford Relaunches Commercial Vehicle Dealer Program

Ford is launching the Commercial Vehicle Center dealer program to replace the Business Preferred Network. According to officials, the new program offers improved service, better parts availability and a new loyalty program.

Tags: fleet sales, Ford

February 1, 2017 - Industry News

Black Book: Weekly Used Luxury Car Prices Tumble

While the truck segment realized its best week in terms of vehicle depreciation last week, values for used luxury cars tumbled, according to Black Book’s Jan. 31 Market Insights Report.

Tags: Black Book, used-vehicle values, wholesale values

February 1, 2017 - Industry News

Lease Volume Reaches Record High in 2016, Edmunds Reports

Leasing accounted for 31% of new-vehicle sales in 2016, up from 29% in 2015. And according to the vehicle information, nearly one-third of all millennials turned to leasing to secure a new vehicle.

Tags: Auto Sales, Edmunds, vehicle leasing

January 31, 2017 - Industry News

ChannelNet Adds Three to Leadership Team

The digital marketing solutions provider named Chris Sims CTO, Joe Karle vice president of account management for the Midwest United States and Canada, and K.C. Loughlin vice president of dealer sales and service for the United States and Canada.

January 31, 2017 - Industry News

Two ProMax Execs Become Owners

ProMax Unlimited CTO Darian Miller and COO Shane Born acquired minority ownership stakes in the software company.

January 31, 2017 - Industry News

EFG Companies: F&I Industry Faces Murky 2017

John Pappanastos, president and CEO of EFG Companies

The expected regulatory rollback, plateauing sales, rising interest rates, and the push to change the in-dealership experience clouds the F&I industry’s future, EFG Companies said today. Four of the firm's executives offered their predictions for 2017.

Tags: Consumer FInancial Protection Bureau, digital retailing, Donald Trump, EFG Companies, interest rates, new-vehicle sales, Regulations, used-vehicle sales

January 31, 2017 - Industry News

Black Book: The Analytics Age Is Upon Us

Black Book has released a new white paper about the different types of data analytics and how automotive industry professionals are using them.

January 30, 2017 - Industry News

Outsell Forms Customer Advisory Board, Demos New Tools at NADA

Outsell formed and convenved its first customer advisory board at the National Automobile Dealers Association (NADA) Convention and Expo. The technology firm also announced the launch of several new digital marketing tools.

January 30, 2017 - Industry News

FCA Adding Up to 400 New Dealerships

Fiat Chrysler has begun a major expansion of its dealerships, and may add as many as 400 new stores in the U.S., dealers familiar with the plan told Automotive News.

January 30, 2017 - Industry News

eLEND Study: Mobile Technology Adoption Hampered by Resistance to Change

Sixty percent of respondents to the technology provider’s dealer survey indicated that they are not considering using tablets in either their sales or F&I departments. Aside from resistance to change, respondents cited cost and an undefined ROI as reasons for not using mobile tablets.

Tags: digital retailing, eLend Solutions, tablet menu, technology

January 30, 2017 - Industry News

Advent DMS Adds myCarfax Tools

Dealers now have access to myCarfax Service Shop tools through Advent Resources' DMS. The collaboration was designed to make resources such as Carfax Service History Check and Carfax QuickVIN available to Advent dealers immediately.

January 30, 2017 - Industry News

NADA Chairman: Hope for the Best, Prepare for the Worst

Jeff Carson likened his year as chairman of the NADA to piloting a plane during a ‘catastrophic electrical failure,” noting that he experienced situations where he started out on what seemed a routine path only to have outside events toss his flight plan out the window.

Tags: CAFE Regulations, Consumer FInancial Protection Bureau, dealer participation, Jeff Carlson, NADA

January 30, 2017 - Industry News

DealerSocket Clients Get Carfax Snapshot Tool

Carfax's Snapshot Tool is now available to dealers on the DealerSocket website platform. The feature puts key vehicle history details for specific vehicles on search results pages and VDPs

Tags: Carfax, DealerSocket, technology, VDPs

January 30, 2017 - Industry News

Advent, Darwin Form Strategic Alliance

The DMS maker is working with Darwin to provide a fully integrated version of Darwin’s prescriptive selling/F&I menu solution to Advent dealers as part of the strategic alliance.

Tags: Advent Resources, Darwin Automotive, DMS, DMS integration, F&I manager, F&I menus

January 30, 2017 - Industry News

The Work Number Connects With Digital Matrix Systems

Digital Matrix Systems has added Equifax Workforce Solutions' income and employment verification service.

January 30, 2017 - Industry News

Experian Announces New Senior Vice President of Automotive Sales

The information services firm announced that John DeMarco has joined the company as senior vice president of automotive sales. He brings 27 years of leadership experience, having held a number of senior leadership roles at firms like CDK Global and Ford Motor Co.

Tags: CDK Global, Experian Automotive, Ford Motor Co., John DeMarco

January 30, 2017 - Industry News

VinSolutions Announces New Integration with Dealertrack

The integration has resulted in a new upgrade for VinSolutions Connect Desking tool. Called Rates & Residuals, the new feature allows users to structure deals for new and pre-owned vehicles by accessing incentives, rates, and captive and noncaptive lending programs within VinSolutions.

Tags: auto finance, CRM, Deal Structuring, Dealertrack, desking, VinSolutions