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March 24, 2016 - Industry News

Cox to Integrate Dealertrack's Service Tool With Xtime's Retention Solutions

Cox Automotive says the integration will help dealers better capitalize on customer loyalty and operational efficiency for their parts and service departments.

Tags: Cox Automotive, Dealertrack, Parts and Service, Xtime

March 24, 2016 - Industry News

CreditMiner Adding 3Screen and 3Qual to Basis F&I Platform

The new feature allows the firm's BASIS F&I platform to prescreen or prequalify consumers against all three credit bureaus and receive a full file return, according to the company.

Tags: 3Qual, 3Screen, Credit Applications, Credit Bureaus, CreditMiner, Pre-Qualify, Pre-Screen

March 24, 2016 - Industry News

J.D. Power: TrueCar Tops Shopper Satisfaction Rankings

TrueCar led the way in J.D. Power’s 2016 Third-Party Automotive Website Evaluation Study, followed by Carfax and Cars.com. Visual web and minimalist navigation tools were the main drivers of shopper satisfaction.

Tags: Car.com, Carfax, J.D. Power and Associates, third-party sites, TrueCar

March 24, 2016 - Industry News

Only 30% of Customers Return to Selling Dealer for Service, Study Reveals

Customers aren't coming back to their dealerships for their repairs, according to Cox Automotive's 2016 Maintenance and Repair Study. It shows that more vehicle owners are choosing to go elsewhere because they feel they'll get a better price.

Tags: Cox Automotive, Customer Service, Maintenance, Repairs

March 24, 2016 - Industry News

Dealertrack, Dealer.com and MakeMyDeal to Combine Forces

Cox Automotive is bringing the three brands together as part of several enhancements the company is planning for its Dealer.com websites.

Tags: Cox Automotive, Dealer.com, Dealertrack, MakeMyDeal

March 23, 2016 - Industry News

ACA, Westlake Agree to Pay $7.4 Million in Relief to Mass. Consumers

American Credit Acceptance and Westlake Financial Services have agreed to pay $7.4 million to Massachusetts consumers to settle the state regulator's charges that they charged excessive interest rates on subprime loans.

Tags: American Credit Acceptance, GAP, Interest Rates, Relief, Subprime Loans, Westlake Services

March 23, 2016 - Industry News

Ally to Expand Econtracting to All 50 States

Dealers in Arizona, Hawaii, Michigan, Mississippi, Montana, New Jersey, New Mexico and Wisconsin will soon be able to econtract with Ally through Dealertrack. Ally currently offers econtracting in 42 states, and hopes to complete the expansion over the next several weeks.

Tags: Ally Financial, eContracting, Financing

March 23, 2016 - Industry News

Black Book, Fitch Predict Vehicle Depreciation Will Reach 15% in 2016

In a joint report issued this week, the two firms said increased supply and incentives will drive higher depreciation in 2016. Auto ABS performance will face pressure, but no material concerns, the firms say.

Tags: Black Book, New-Vehicle Sales, used-vehicle sales, vehicle depreciation

March 23, 2016 - Industry News

Dealer-FX Enhances One Solution 3.0 Platform

Dealer-FX's newly updated dynamic route sheet uses predictive analytics to help dealerships improve customer retention, streamline operations and drive repurchase loyalty.

Tags: Analytics, Customer Retention, Dealer Software, Dealer-FX, Operational Efficiencies

March 23, 2016 - Industry News

Flick Fusion, WheelsTV Partner to Simplify Video Marketing for Dealers

The two companies will use each other's marketing solutions to give auto dealerships a combined product that will simplify their video marketing campaigns.

Tags: Flick Fusion, Video Marketing, Virtual Tour, WheelsTV

March 22, 2016 - Industry News

Subprime Loans Accounted for Nearly 22% of 2015 Originations, Equifax Reports

Subprime auto loans accounted for 21.7% of all 2015 originations. The firm notes, however, that credit performance remains excellent, a sign that finance sources 'are prudently extending credit to well-underwritten borrowers.'

Tags: Auto Loans, Equifax, Originations, Subprime

March 22, 2016 - Industry News

EFG Introduces Parts-Sourcing Platform

Parts Wizard allows dealers to search for OEM, aftermarket, remanufactured, and used parts at EFG-approved vendors, drastically shortening the time it takes to research parts by up to 30 minutes per claim, the company claims.

March 22, 2016 - Industry News

GoMoto to Bring Showroom Experience Online

GoMoto is taking its showroom customer experience platform online. This week, the firm launched GoMoto Digital, a solution that allows car buyers to begin the purchase process online and then continue the process inside the dealership simply by providing their driver's license.

Tags: CRM, Customer Experience, GoMoto, Online Buying

March 22, 2016 - Industry News

NCM Associates Announces Launch of LiveAudit

NCM Associates' new cloud-based application works with dealership management systems to provide a new way to control cash flow as well as reduce the risk of fraud and financial mismanagement.

March 22, 2016 - Industry News

Hackers Targeting Dealerships, Firm Warns

According to Helion Automotive Technologies, Hackers are tricking dealership employees into clicking on malicious emails to gain access to F&I and accounting departments.

Tags: Cyber Security, Hacking, Phishing

March 22, 2016 - Industry News

Ally to Add Independent Director to Board

Frustrated with how market perception is affecting the company's stock, Ally management announced this week it will be appointing a new independent director to its board of directors.

Tags: Ally, Board of Directors, Stock

March 21, 2016 - Industry News

House Democrats Join Republicans in CFPB Grilling

Republicans were expected to lash out at the CFPB during its semi-annual report to Congress, but there were a few unexpected critics from the other side of the aisle as well.

Tags: Ally, CFPB, Disparate Impact, Payday Lending

March 17, 2016 - Industry News

20 Automakers Commit to Making Automotic Emergency Braking Standard Equipment by 2022

By 2022, the National Highway Traffic Safety Administration and the Insurance Institute for Highway Safety expect 99% of the U.S. auto market to have automatic emergency braking as a standard feature.

Tags: Automatic Emergency Braking, IIHS, NHTSA, Safety

March 17, 2016 - Industry News

Dealer.com Taps Contact at Once!’s Chat and Text Solutions

Following up on a 2013 pack that brought Contact At Once!’s chat solutions to Dealer.com’s Control Center, the new integration will allow Dealer.com’s clients to select from options that include fully managed and co-managed chat and text.

Tags: Contact At Once, Dealer.com, live chat, text marketing

March 17, 2016 - Industry News

Harlene Doane Brings Operational, HR Expertise to Dealer Summit

Organizers of Dealer Summit have announced that Harlene Doane, COO of DealerStrong, will present two sessions at the event, which will be held May 3–5, 2016, at the Sheraton Tampa Riverwalk Hotel.

Tags: Dealer Summit, DealerStrong, Florida

March 17, 2016 - Industry News

Moore & Scarry’s Kerr to Break Down Pre-Roll at Dealer Summit

Moore & Scarry Advertising’s Tom Kerr will present a session devoted entirely to video pre-roll at Dealer Summit, organizers announced Wednesday. The event will be held May 3–5, 2016, at the Sheraton Tampa Riverwalk Hotel.

Tags: Dealer Summit, Florida, Moore & Scarry

March 17, 2016 - Industry News

Wendy Reeves to Lead Two BDC Sessions at Dealer Summit

Organizers of Dealer Summit have announced that Wendy Reeves, BDC trainer for DealerStrong, will present two sessions dedicated to maximizing business development center production at the event, which is scheduled for May 3–5, 2016, at the Sheraton Tampa Riverwalk Hotel.

Tags: Dealer Summit, DealerStrong, Florida

March 17, 2016 - Industry News

Women Better Managers of Credit Than Men, Study Shows

Not only do women have higher credit scores and less debt than men, according to a new report from Experian, they are more likely to purchase a more functional, utilitarian vehicle than their male counterparts.

Tags: Auto Loans, Credit, Experian

March 17, 2016 - Industry News

Dealer.com to Integrate With Haystak's Customer Service Model

Cox Automotive announced plans to merge Dealer.com’s advertising technology as well OEM and advertising partnerships with Haystak’s customer service model later this year.

Tags: Cox Automotive, Dealer.com, Haystak

March 17, 2016 - Industry News

Gen Z Prefers Face-to-Face Interactions, Test Drives, Study Shows

Generation Z may have grown up with more access to technology than Millennials, but buying online isn't what this emerging demographic prefers, according to a joint study from Autotrader and Kelley Blue Book.

Tags: Autotrader, Generation Z, Kelley Blue Book, Millennials, Study