November 9, 2017 - Industry News
Manheim’s growing collection of digital and offsite offerings promises dealers more ways to buy and sell vehicles.
Post-hurricane demand pushed up the firm's index 1.02% from the month prior and 8.1% from a year ago to 136.6
Tags: Manheim Index, used-vehicle values, wholesale values
November 8, 2017 - Industry News
The 20-year industry veteran and former executive with The Warranty Group will coordinate strategy and development for AAGI’s products, services, and technology. Tim Brugh, who held the title since May 2013, named CEO.
Tags: American Auto Guardian, Craig Robinson, F&I products, The Warranty Group
November 7, 2017 - Industry News
The last remaining replacement activity stemming from hurricanes Harvey and Irma drove continued vehicle value stability and shopping demand in October, with the firm’s index rising to 114.6 in October.
Tags: Black Book, Hurricane Harvey, Hurricane Irma, Used Vehicle Retention Index, used-vehicle values
Traffic Control CRM has added three new features designed to help F&I managers get funded by promoting compliance with finance sources’ documentation requirements.
November 6, 2017 - Industry News
The Southern California-based dealer group was charged with violating a 2014 administrative order prohibiting it from misrepresenting in advertisements how much consumers could pay to finance or lease a vehicle.
Tags: compliance, Consumer Leasing Act, Federal Trade Commission, Norm Reeves, Truth in Lending Act
The program enhancements include an overhaul of engine and accessory coverage to better meet the needs of today’s watercraft. The additional benefits available with the FPC Marine program are now available with all engine and accessory coverage.
Tags: marine dealerships, Protective Asset Protection Division, Vehicle Service Contract
Terry Holmes Automotive Group has added the Motor Trend Certified program to six dealerships in South Carolina with a planned launch in Georgia.
Automotive Development Group has been named to this year’s Inc. 5000 list of the fastest-growing companies, marking its first appearance and joining the likes of FitBit and Pandora.
November 2, 2017 - Industry News
The bureau concedes in its report that consumers are financing larger amounts and are electing for longer-term loans to keep monthly payments affordable. However, the regulator also notes that longer-term loans aren't having the desired effect in terms of default rates.
Tags: auto finance, Consumer Financial Protection Bureau, default rates, Long Loan Terms, Subprime Financing
AutoNation has agreed to support Waymo’s fleet of self-driving Chrysler Pacifica hybrids and plans to expand the partnership as Waymo grows and diversifies its fleet.
Tags: AutoNation, mobility, Self Driving, Waymo
November 1, 2017 - Industry News
The funding will be used to grow market share, invest in product development, and expand client services, officials with the digital marketing firm said. fusionZONE was founded in 2009 and provides web design services and conversion strategies to dealers.
Tags: dealer website, digital marketing, fusionZONE, Lead Conversion, Primus Capital
Transaction prices continue to rise at a slower pace, with the third-quarter average up just 1% after averaging 3% gains in the first half of the year. And while KBB expects solid sales in October, flat transaction prices combined with ever-growing incentive spending signal headwinds for the new-vehicle market as the year nears its close.
Tags: average transaction price, Kelley Blue Book, new-vehicle sales
Cynthia Bodden has been promoted to the position of area vice president of sales for the Mid-Atlantic region by GWC Warranty.
Family-owned and -operated since World War II, Puente Hills (Calif.) Chevrolet changes hands with the retirement of co-owners Tom Hoffman and Gary Campbell.
October 31, 2017 - Industry News
The new platform gives users of Pearl’s VehicleXchange incentive-based marketing solution the ability to know which consumers are new or pre-owned buyers, and can target by propensity, APR, payment amount, term and credit score, and more.
Tags: data mining, digital retailing, Experian Automotive, online F&I, Pearl Technology
Flynn guided the company’s multi-year transformation effort. The executive is now set to replace Robert. N. Karp, who is leaving the company in December.
Tags: CDK Global, Daniel Flynn, Showroom, technology
‘Fix Your Phones & Boost Profit in Your Service Department’ makes a compelling case for addressing and improving the way customers communicate with your dealership’s service department.
A study conducted by Jumpstart Automotive Media and Ipsos Connect sought to identify luxury car buyers and determine what motivates them, and the results were surprising.
Total revenue and gross profit were down 5% and 2% from a year ago, respectively, with Hurricane Irma having a significant impact on sales in the group’s core Florida and Georgia markets. F&I was a bright spot, with total gross profit up 4% and the group’s per-copy average increasing by $142 from a year ago to $1,547.
Tags: Asbury Automotive, F&I profit, Hurricane Harvey, Hurricane Irma, new-vehicle sales, public dealer, used-vehicle sales
The partnership allows the dealership’s customers to work out while their cars are being serviced. It adds to a long list of benefits Boston Volvo currently offers, including 40 courtesy loaner vehicles, daily shuttles to Boston and Cambridge and complimentary Uber transportation.
Tags: Boston Volvo Village, Customer Experience, customer serice, parts and service
October 30, 2017 - Industry News
Auto/Mate Dealership Systems has been named a ‘Best Place to Work’ by the Albany Business Review for the eighth consecutive year.
October 27, 2017 - Industry News
Marchex claims nearly 15% comparative improvement in components of speech analytics accuracy, providing marketers and sales teams with actionable insights from phone conversations between consumers and brands.
A new integration promises new options and an expansion of services for both companies and their clients, including auto dealers and auto finance companies.
A study released by Marchex and based on 8 million calls to U.S. auto dealers found that nearly one-fifth of calls went unanswered or were abandoned by the customer, representing millions of dollars in lost revenue.
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