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February 24, 2016 - Industry News

Consumers on Pace to Spend More Than $32 Billion on New Vehicles in February

J.D. Power and LMC Automotive said this week that consumers are on pace to spend more than $32 billion on new vehicles this month, a first for the month of February. The two firms noted, however, that their projected 13.9 million retail SAAR is the lowest level since June and well below the 15.3 million pace set last September.

Tags: Consumer Spending, Forecast, J.D. Power and Associates, LMC Automotive, New-Vehicle Sales

February 24, 2016 - Industry News

Edmunds Names Winners of Fourth Annual Five Star Dealer Award

Edmunds has released the names of the more than 800 winners of the firm's fourth annual Five Star Dealer Award. Dealers named had to have at least 20 site reviews within a two-year period and earned an overall sales rating of five stars on Edmunds.com.

Tags: Awards, Customer Reviews, Dealers, Edmunds.com

February 24, 2016 - Industry News

Ford Motor Credit Piloting Ride-Sharing Lease Program

The captive is piloting a new program in Austin, Texas, that will allow a group of three to six people to lease a Ford Vehicle. The program includes a mobile app that allows participants to schedule drive times, make payments and keep up with vehicle maintenance.

Tags: Austin, Ford, Leasing

February 24, 2016 - Industry News

David Vespremi Joins Izmocars as Marketing Director

Aside from announcing its new marketing director, the retail solutions provider said it will debut a new line of products at the upcoming NADA Convention & Expo.

Tags: Hiring, izmocars, NADA

February 23, 2016 - Industry News

California Dealers Question Legality of GM’s Online Sales Portal

General Motors responded on Friday to legal concerns raised in a Feb. 8 letter from the California New Car Dealers Association. The automaker said it is not infringing on its dealers' used-vehicle operations, adding that projected sales from its Factory Pre-Owned Collection program will represent 'roughly 1% or less of current used retail volume our dealer network sells.'

Tags: California New Car Dealers Association, Factory Pre-Owned Collection, General Motors, third-party sites

February 23, 2016 - Industry News

Reynolds and Reynolds Acquires ReverseRisk

Reynolds and Reynolds Co. has acquired ReverseRisk, which offers a web-based analytics reporting platform. The system can be used regardless of the DMS a dealership employs and will become part of the Reynolds Retail Management System portfolio of solutions.

Tags: Acquisition, Dealer Software, ReverseRisk, Reynolds & Reynolds

February 23, 2016 - Industry News

TrueCar's Perry Lays Out Plans to Win Back Dealers, OEMs

TrueCar's new CEO used the firm's recent quarterly investor call to lay out his plans to win back dealers and OEMs. The executive also discussed how the firm plans to better monetize car shoppers using its site.

Tags: Financial Reports, Fourth Quarter, Marketing, TrueCar

February 23, 2016 - Industry News

Gina Reuscher Joins Flick Fusion

The firm's new director of marketing will oversee the company's branding and online marketing strategy. She will also manage partner training and communications.

Tags: Director of Marketing, Flick Fusion, Marketing, Video Marketing

February 23, 2016 - Industry News

IT Professional to Present Five Technology Musts to Drive Sales

Technology is evolving at a rapid pace, and a workshop at the 2016 NADA Conference & Expo in Las Vegas will show dealers how to adapt for maximum profitability.

Tags: Information Technology, NADA, NADA Convention and Expo, Workshop

February 23, 2016 - Industry News

MaximTrak Releases Global F&I Platform

MaximTrak Technologies is rolling out a new F&I platform touting new enhancements geared toward international markets. The new platform is designed to address the challenges presented by the push to modernize F&I.

Tags: Dealer Software, MaximTrak, MaximTrak Global

February 23, 2016 - Industry News

AUL Names Scott Smith Operations Managers

Smith will lead AUL's operations department while maintaining his role as service support manager. He replaces Jackie Matthews, who stepped back from her role as operations manager as she prepares for retirement.

Tags: AUL Corp., Promotions, Service Contract Provider, Service Contracts

February 18, 2016 - Industry News

Top F&I Trainers Headed to F&I Think Tank

Celebrated F&I trainers Luis Garcia, Gerry Gould and Rick McCormick will join forces at F&I Think Tank to lead Shark Tank, a 20 Group-like session that will allow attendees to get answers to troublesome customer objections, deal situations and departmental issues.

Tags: Dealer Summit, F&I Think Tank, F&I Tip of the Week, F&I Training, Gerry Gould, Luis Garcia, Reahard & Associates, Rick McCormick, United Development Systems

February 18, 2016 - Industry News

Used-Vehicle Sales Drop 4% in January, NADA Used Car Guide Reports

The NADA Used Car Guide's used-vehicle price index slipped 0.3% in January, with sales volume coming in 4% lower than the same period last year.

Tags: NADA, National Automobile Dealers Association, Used Vehicles, Vehicle Sales

February 17, 2016 - Industry News

TransUnion: 60-Day Delinquencies Reach Highest Level Since Q4 2010

The 7.8% increase in the number of consumers with an auto loan in the fourth quarter was the largest increase observed by TransUnion. The firm also reported that 60-day delinquencies are on the rise, particularly in states with large exposure to the energy industry.

February 17, 2016 - Industry News

Manheim Names Doug Keim VP of Client Experience

The former Cox Automotive executive will be responsible for developing executive initiatives designed to improve dealer and commercial client satisfaction and profitability.

Tags: Cox Automotive, Hiring, Manheim, Vice President

February 17, 2016 - Industry News

CreditMiner Parters With Ad Agency to Market Virtual Credit Consultant

CreditMiner has partnered with Moore & Scarry Advertising to market its consumer-facing application, which provides real-time prequalification with full permissible data.

Tags: Credit Check, Credit Score, CreditMiner, Moore & Scarry, Soft Pull

February 17, 2016 - Industry News

Former Santander Execs Join Exeter Finance Corp.

On the same day Santander announced the departures of President Jason Grubb and COO of Originations Brand Martin, Exeter Finance Corp. announced the appointment of the two auto finance veterans to CEO and COO, respectively.

Tags: Executive Panel, Exeter Finance Corp., Santander Consumer USA

February 16, 2016 - Industry News

Group 1's U.S. F&I Operations Stays Above $1,500 Per Copy in Q4

Group 1 Automotive's U.S. F&I operations realized a 4% increase in F&I profit per retail unit, with the group's per-copy average settling in at $1,525 in 2015's end-of-year quarter.

Tags: F&I manager, F&I products, Group 1 Automotive, PRU, PVR

February 16, 2016 - Industry News

Charlie Robinson to Keynote F&I Think Tank at Dealer Summit

Organizers of Dealer Summit announced that Charlie Robinson, president and COO of the Resource Automotive division at The Warranty Group, will deliver the keynote address for F&I Think Tank.

Tags: Charlie Robinson, Dealer Summit, F&I managers, F&I products, F&I Think Tank, F&I Training, Resource Automotive, The Warranty Group

February 16, 2016 - Industry News

Merchants Named a 2016 Dealer of the Year by DealerRater

Dealer review site DealerRater named Merchants Auto a 2016 Dealer of the Year, a title given to less than 0.1% of the more than 41,000 dealers in the DealerRater network.

Tags: Award, Customer Reviews, DealerRater

February 16, 2016 - Industry News

F&I Express Adds AssurancePlus to F&I Product Provider Network

F&I Express has added AssurancePlus to its network of aftermarket F&I providers. The addition will allow dealers to erate, econtract and eregister all of AssurancePlus’ F&I products.

Tags: Aftermarket Products, AssurancePlus, F&I Express, F&I products

February 11, 2016 - Industry News

Asbury: ‘Favorable Lending Environment” Spurs 9% Gain in Q4 F&I Revenue

Asbury Automotive Group reported this week that it’s F&I operations realized a $55 per-copy increase in the fourth quarter, with the group averaging $1,426 in gross profit per vehicle retailed during the end-of-year quarter.

Tags: Asbury Automotive, Fourth Quarter, PVR, Quarterly Earnings, Vehicle Sales

February 10, 2016 - Industry News

GM's Online Used-Car Purchasing Site Goes Live

The automaker Factory Pre-Owned Collection portal is now live. The site, which will open up the automaker's remarketing channel to consumers, contains more than 30,000 used cars with less than 37,000 miles on the odometer.

Tags: General Motors, Online Buying, Online Marketing, Used Vehicles

February 10, 2016 - Industry News

Wise F&I Products Now Available Through Dealertrack Aftermarket Network

Through the Dealertrack Aftermarket Network, F&I sales and submission processes will now be handled online. The new integration supports multiple Wise F&I products, including the firm's GAP, appearance care, vehicle service contracts and theft-deterrent programs.

Tags: Dealertrack, eContracting, GAPWise, price quotes, Wise F&I

February 10, 2016 - Industry News

J.D. Power: Perception of Manufacturer Website Speed Impacts Shopper Satsifaction

According to a new J.D. Power study, new-vehicle buyers were most satisfied with Ram’s website, closely followed by Porsche. The study's main conclusion was that satisfaction with an OEM's website can impact a customer's decision to test drive a vehicle or not.

Tags: Customer Satisfaction, J.D. Power, manufacturer Websites, Porsche, Ram