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March 22, 2017 - Industry News

Black Book: Cars Continue to Outperform Truck Segment

This week’s Black Book Market Insights report shows the car segment retaining its value better than the truck segment as a whole. However, compact vans saw their values strengthen by 1.17%, outperforming all other vehicle segments.

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

March 22, 2017 - Industry News

KAR Doubles Down on TradeRev

KAR Auction Services extended $15 million in credit to TradeRev, the digital auction platform in which KAR acquired a 50% stake in 2014.

Tags: Auto Auctions, Kar Auction Services, TradeRev

March 22, 2017 - Industry News

Voting Opens for 2017 Dealers’ Choice Awards

Dealers and dealership personnel are invited to recognize their favorite vendors, service providers and finance partners in the 13th annual Dealers’ Choice Awards.

March 21, 2017 - Industry News

Justice Department Files Amicus Brief Against CFPB

In an amicus brief filed last Friday, the Justice Department called on the D.C. Circuit Court to uphold the appellate court's 2-1 ruling in a New Jersey-based mortgage company's closely-watched challenge of the CFPB's authority. The agency says it agrees with the court's unconstitutional ruling and 'at-will' remedy.

March 21, 2017 - Industry News

Dent Zone’s Snowden Earns Lifetime Achievement Award

Jeff Snowden’s 25-year career as a technician, advocate and executive in the paintless dent repair industry was recognized at the 2017 International Mobile Tech Expo.

Tags: Dent Zone, F&I products, paintless dent removal

March 21, 2017 - Industry News

Aaron Riddle Joins RoadVantage

RoadVantage has expanded its sales team with the addition of industry veteran Aaron Riddle.

March 21, 2017 - Industry News

MVSC’S ERT Platform Endorsed by OADA

Motor Vehicle Software Corp.’s Vitu platform has been named the Oregon Auto Dealers Association’s preferred provider of electronic vehicle registration and titling services.

Tags: electronic lien and titles, Electronic Registration, Motor Vehicle Software Corp.

March 21, 2017 - Industry News

J.D. Power: Tesla Owners Choose Hype Over Quality

A new report from J.D. Power finds owners of the Tesla Model S and Model X have acknowledged numerous quality issues but show no signs of disloyalty.

Tags: Electric Vehicles, Model S, Model X, Tesla Motors

March 20, 2017 - Industry News

Podium Partners With CDK Global

More than 27,000 retail locations will have access to Podium’s automated online reputation management solution.

March 20, 2017 - Industry News

Spireon Enhances Recovery Link Feature in Goldstar GPS Solution

Spireon introduces one-step vehicle-recovery process for buy-here, pay-here dealers, who can automatically send locator links on lapsed vehicles to recovery agents via text or email.

Tags: buy-here, GPS Tracking, pay-here, Spireon

March 20, 2017 - Industry News

AUL Corp. Releases 2017 F&I Training Schedule

The warranty and vehicle service contract provider released its 2017 F&I training schedule, which includes a three-day live course that will cover compliance, objecting handing, sales-to-F&I turnovers, and menu selling. It will be led by Kirk Manzo, director of global training for Assurant’s Vehicle Protection Services group.

Tags: F&I manager, F&I products, F&I sales, F&I training, F&I Turnover

March 20, 2017 - Industry News

Wise F&I Product Suite Now Available Through MaximTrak

Wise F&I’s voluntary protection products are now accessible through MaximTrak, a RouteOne company. According to officials, connecting the firm's F&I protections to MaximTrak’s F&I menu system demonstrates its focus on compliance, technology and simplicity for the customer.

Tags: F&I manager, F&I menu, F&I process, MaximTrak, RouteOne, Wise F&I

March 20, 2017 - Industry News

ACE Certifies American Financial Agents

Automotive Compliance Education (ACE) and American Financial & Automotive Services partnered to certify American Financial’s entire agent roster.

March 20, 2017 - Industry News

Edmunds, State Farm Create Affinity Program

The vehicle information site and auto insurer have teamed up to pair the Edmunds shopping experience with State Farm’s vehicle ownership tools.

March 16, 2017 - Industry News

Fed Raises Interest Rates a Quarter Point

The Federal Open Market Committee (FOMC) voted 9-1 on March 15 to raise the target range for the federal funds rate by a quarter percentage point to 0.75% to 1% — a move that was widely expected.

Tags: Federal Reserve, interest rates, Monthly Payments

March 16, 2017 - Industry News

AutoLoop: Dealers Lose $380K in Millennial Service Revenue

A survey of 1,000 car buyers found dealership service departments are losing revenue by failing to connect and engage with millennial customers. Photo by librarianfinsen

A new study from AutoLoop finds dealers are failing to properly market their service departments, engage service customers digitally, and improve the service experience.

March 16, 2017 - Industry News

EasyCare Launches SelectCare for Retail and Lease Customers

SelectCare was designed to cover parts not covered by the factory warranty, vehicle service contract or prepaid maintenance plan.

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

March 15, 2017 - Industry News

Black Book: Cars Outperform Trucks, Luxury Cars Continue to Falter

Luxury vehicles continued to struggle last week, leading all segments in terms of depreciation. The other big story was the performance of cars, which continued to retain their values better than trucks.

Tags: Black Book, vehicle depreciation, wholesale values

March 15, 2017 - Industry News

Ford Tests Smart Service Kiosks

LaFontaine Ford of Birch Run (Mich.) is the first Ford dealership to test the Panasonic/GoMoto Smart Service Kiosk.

March 15, 2017 - Industry News

DRIVIN, Chrome Data Announce Data Licensing Agreement

DRIVIN this week announced it has signed an agreement to license Chrome Data’s Automotive Description Service (ADS) to enhance its inventory-sourcing marketplace.

Tags: Chrome Data Solutions, DRIVIN, inventory sourcing, Online Marketplace

March 15, 2017 - Industry News

Manheim Locations Receive Top Honors at CAR

Eleven Manheim auctions took home 15 national and regional awards at this month’s Conference of Automotive Remarketing. Big winners were Manheim Seattle, Manheim Dallas and Manheim Statesville.

Tags: Auctions, Conference of Automotive Remarketing, Manheim

March 14, 2017 - Industry News

CUDL Holds Onto No. 2 Spot in Auto Finance Rankings

The more than 1,000 credit unions on CU Direct’s lending platforms maintained their No. 2 spot on Experian’s auto finance leaderboard in January. And with plateauing demand for new vehicles expected to drive up pre-owned sales, the market appears ripe for credit unions to reap further market share gains.

Tags: auto finance, credit unions, CUDL, powerbooking

March 14, 2017 - Industry News

Sage to Pay $3.6 Million to Settle FTC Charges

The nine-store, Los Angeles-based Sage Automotive Group will pay $3.6 million to settle charges of deceptive and unfair sales and financing tactics, including yo-yo financing and payment packing.

March 13, 2017 - Industry News

Infiniti Joins automotiveMastermind Platform

Infiniti dealers now have the opportunity to partner with automotiveMastermind, which offers predictive analytics to drive sales and customer retention.

Tags: advertising, dealer website, digital marketing, marketing

March 13, 2017 - Industry News

Helion Issues Dealer Data Security Guidance

Describing dealership data breaches as an ‘imminent threat,’ Helion Automotive Technologies’ Eric Nachbahr has issued proactive security recommendations for auto dealers.