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January 7, 2016 - Industry News

Cox Automotive Canada Acquires Manheim Source Edmonton

Cox Automotive Canada, through its Manheim Canada operation, has acquired complete ownership of Manheim Source Edmonton. The auction will now operate as Manheim Edmonton.

Tags: Acquisition, Canada, Cox Automotive, Manheim

January 7, 2016 - Industry News

Edmunds, CUneXus Partner to Develop New Car-Buying Solutions

Edmunds is teaming with CUneXus to build new shopping and purchasing solutions. The latter offers a “click-to-accept” consumer loan platform that allows finance sources to deliver loan offers to in-market consumers through their mobile devices.

Tags: auto lending, CUneXus,, Online Buying

January 6, 2016 - Industry News

Goebel, Ziegler to Headline Dealer Summit

Organizers of Dealer Summit announced that Greg Goebel and Jim Ziegler will speak at the 2016 event, which will be held May 3–5 at the Sheraton Tampa Riverwalk Hotel.

Tags: Dealer Summit, Dealers, DealerStrong, Greg Goebel, Jim Ziegler, Zieger Supersystems

January 6, 2016 - Industry News

FTC Plans to Study the Auto-Buying Experience

On Dec. 29, the Federal Trade Commission announced plans to conduct a qualitative survey of consumers who have purchased and financed an automobile from a dealer within the last six months. If issues are revealed, the agency said it may consider enforcement initiatives or rulemaking.

Tags: Customer Experience, Federal Trade Commission, Financing, Survey

January 6, 2016 - Industry News

Calif. Dealer Group Amends Lawsuit Against TrueCar

The original lawsuit, filed last May, charged TrueCar with acting as a dealer and a broker when it does not have a dealer or broker license. The new amendment asks the court to declare that TrueCar continues to act as a 'dealer' and 'broker” without license.

Tags: broker, California New Car Dealers Association, CNCDA, dealer, litigation, TrueCar

January 6, 2016 - Industry News

Wise F&I Adds to Sales Team

The F&I product provider announced the hiring of Amy Counts as an account executive. The 18-year industry veteran has served in various roles at Reynolds and Reynolds and RouteOne.

Tags: Amy Counts, F&I manager, F&I Process, F&I product provider, F&I products, Matt Croak, Wise F&I

January 5, 2016 - Industry News

Subaru, Ford Rank Highest in Loyalty Rates, Experian Reports

Between October 2014 and September 2015, consumers returned to Subaru and Ford more than any other OEM brand, according Experian Automotive.

Tags: brand loyalty, Experian Automotive, Ford, Land Rover, Mercedes-Benz, Subaru

January 5, 2016 - Industry News

Mary Barra Named New Chairman of GM

The General Motors Board of Directors has unanimously elected Mary Barra as its next chairman, effective immediately. She succeeds Theodore Solso, who will serve as the board’s lead independent director.

Tags: Board of Directors, CEO, Chairman, General Motors, Mary Barra

January 5, 2016 - Industry News

Justice Department Files Civil Complaint Against Volkswagen

The complaint was filed on Monday and alleges that nearly 600,000 diesel engine vehicles were equipped with illegal devices designed to cheat emissions testing.

Tags: Civil Complaint, Department of Justice, Violations, Volkswagen

December 30, 2015 - Industry News

Kelley Blue Book TV Available On Roku Platform

Kelley Blue Book announced this week that Kelley Blue Book TV, its video content platform, is now available on Roku players and Roku TV models.

Tags: KBB, Kelley Blue Book, online marketing

December 30, 2015 - Industry News

Mitsubishi Motors Reaches 5 Million-Unit Sales Landmark

After 21 consecutive months of year-over-year sales increases, Mitsubishi Motors North America Inc. has achieved five million vehicle sales in the U.S. as of Saturday.

Tags: Mitsubishi, Sales, Vehicle Sales

December 30, 2015 - Industry News

Ally Offering Services Through Beepi Marketplace

Ally Financial is now offering consumer auto financing products for vehicles purchased on Beepi, a technology company that allows consumers to purchase cars online or through their smartphones.

Tags: Ally Financial, Beepi, Online Buying, Vehicle Sales

December 29, 2015 - Industry News

GWC Warranty Exceeds $375 Million in Claims Paid

F&I product provider GWC Warranty announced today that it has surpassed $375 million in claims paid to date.

Tags: GWC Warranty Corporation, Service Contracts, Used Vehicles

December 29, 2015 - Industry News

Hyundai Hires Former Lamborghini Exec to Lead Genesis Brand

Hyundai Motor announced Monday it has hired Manfred Fitzgerald as senior vice president of its Genesis luxury brand. The former director of brand and design for Lamborghini will be based in the South Korean automaker's headquarters in Seoul. He will play a key role in brand strategy, marketing and other business operations within the Genesis brand.

Tags: Executive Panel, Hynudai, Hyundai Genesis

December 29, 2015 - Industry News

AFIP Issues Guidance on Reg. Z and M Dollar Thresholds for 2016

The FRB and CFPB announced on Nov. 25 that 2016 dollar thresholds for Reg. Z and M exemptions will remain unchanged from 2015. The AFIP says the accepted practice for processing transactions above the threshold will also remain unchanged.

Tags: AFIP, Association of Finance and Insurance Professionals, CFPB, Consumer leasing Act, Federal Reserve, Regulation M, Regulation Z, Truth in Lending Act

December 23, 2015 - Industry News

Vboost Adds New Features to Marketing Platform

Vboost users will now have access to new music to use in their "customericals," instant photo/video consent from customers and the ability to text "customericals" directly to customers' phones.

Tags: digital marketing, Marketing, Vboost Inc.

December 23, 2015 - Industry News

GE Selling Hyundai Capital Shares to Hyundai, Kia

GE announced today that it has signed an agreement to sell its 23.3% stake in Hyundai Capital Services to Hyundai Motor Co. and Kia Motors. The announcement comes less than a month after it unloaded its transportation business unit to BMO Financial Group.

Tags: BMO Harris Bank, GE Capital Services, Hyundai, Kia Motors America

December 23, 2015 - Industry News

Manheim Wins Multiple Element Remarketing Awards

Manheim Kansas City took home top honors in Element Fleet Management’s remarketing program. Manheim Pennsylvania Assistant General Manager Amy Taitano also received the Laurie Dobberphul Award — the annual award presented to a top-ranking female in the remarketing industry.

Tags: Awards, Element Fleet Management, Manheim, Remarketing

December 22, 2015 - Industry News

Autobytel Honors Dealership Internet Teams

The online automotive services provider named Taylor Chrysler Dodge Jeep, Stillwell Ford and Ed Morse Automotive Group as its Dealers of the Month for the third quarter.

Tags: Autobytel, Ed Morse Automotive Group, Stillwell Ford, Taylor Chrysler Dodge Jeep

December 22, 2015 - Industry News

Edmunds Puts 2015 SAAR at 17.5 Million

Edmunds said this week the industry is on pace to break the previous December sales record set in 2004. It predicts the industry will retail 1.7 million units in December, a 29.7% increase from November and a 12.3% increase from a year ago.

Tags: December, Edmunds, New-Car Sales, SAAR

December 22, 2015 - Industry News

Provision in New Tax Bill May Benefit Dealers

A provision in the act will grant dealers an additional $8,000 in first year-depreciation for certain business vehicles purchased in 2015. However, to use the provision in 2015, dealers must purchase qualifying vehicles before Dec. 31, 2015. The additional $8,000 continues into 2016 and 2017 but will be gradually phased out starting in 2018, according to the NADA.

Tags: ATD, Congress, legislation, NADA

December 17, 2015 - Industry News

Chrysler Dealers to Get Econtracting

RouteOne and Chrysler Capital/Santander Consumer USA announced today that they will begin rolling out econtracting to Chrysler dealers toward the end of the first quarter 2016.

December 16, 2015 - Industry News

Industry Analysts Discuss Rate Hike's Impact on Vehicle Sales

Photo courtesy of Federal Reserve Flickr. 

The Federal Reserve voted unanimously today to increase its target funds rate by a modest quarter point. One market research firm believes that could cut into sales by 150,000 units.

Tags: Cox Automotive, Federal Reserve, interest rates, JD Power, Kelley Blue Book, New-Vehicle Sales, Vehicle Sales

December 16, 2015 - Industry News

EFG Companies Announces Winner of F&I Innovator of the Year Contest

The winning team's mobile app, dubbed Watchdog, provides consumers with a convenient way to stay current with their vehicle maintenance, prevent theft and recover their vehicle.

Tags: Awards, EFG Companies, F&I products, Northwood University

December 16, 2015 - Industry News

(UPDATED) Vroom to Acquire Texas Direct Auto

The online startup looking to reinvent how cars are bought and sold has agreed to purchase the pioneer of selling vehicles online. According to officials, the two brands will co-exist and continue to operate online separately.

Tags: Online Buying, online shoppers, pre-owned customers, Texas Direct Auto, Used-Vehicle Sales, Vroom