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September 1, 2015 - Industry News

CNA National Marks 20th Anniversary of Purchase by CNA

It has been 20 years since CNA National was purchased by CNA, one of the nation’s oldest and largest insurance companies.

Tags: CNA National, F&I product provider, GAP, Service Contracts, Tire and Wheel

September 1, 2015 - Industry News

Mazda Unveils All-New 'Retail Evolution' Dealership Design

The open concept floorplan offers business transparency and upscale décor featuring natural materials. The first Retail Evolution dealership built from the ground up to this exacting standard will be Mazda of Everett in Seattle, Wash., which opened late last month.

Tags: Mazda, redesign, Showroom

September 1, 2015 - Industry News

Eyewitness Surveillance Secures $15 Million Line of Credit

The new financing will bolster enhancements to the video-monitoring solutions provider’s existing product line and pave the way for strategic growth and market penetration.

September 1, 2015 - Industry News

CNCDA Says Tesla’s Referral Program Violates Bird-Dogging Ban

Photo via Flickr.

The California New Car Dealers Association has called on the California Department of Motor Vehicles to investigate Tesla Motors’ referral program, which the trade groups said constitutes “bird-dogging.”

Tags: California New Car Dealers Association, CNCDA, compliance, Tesla, Tesla Motors

August 31, 2015 - Industry News

Manheim Opens Riverside Facilities to Assist in Used-Vehicle Evaluations

Pictured left to right:  Barry Room, Manheim Regional Vice President, West, Chris Brown, General Manager of Manheim Riverside, Scott Hurst, Market Vice President, Southwest Market, Riverside Mayor  Rusty Bailey, Janet Barnard, Manheim President of North America, Congressman Mark Takano and Mike Sadowski, VP of Operations, General Manager for Kelley Blue Book. Photo: Manheim

Manheim recently unveiled a new indoor vehicle inspection facility and the Kelley Blue Book Resource center at its California Service Center in Riverside, Calif.

Tags: Auto Auctions, Kelley Blue Book, Manheim, used cars

August 27, 2015 - Industry News

Payment Gap Between New and Used Hits All-Time High in Q2, Experian Reports

The rise in new-vehicle prices continued in the second quarter, with more consumers turning toward the used market and leasing. Loan terms also continued to stretch.

Tags: Auto Loan Terms, Experian Automotive, Leasing, Monthly Payments

August 26, 2015 - Industry News

Enterprise, Chase to Launch Enterprise Auto Finance

The two companies announced this week a new multi-year, private-label agreement to establish Enterprise Auto Finance, which will be rolled out later this year.

Tags: Chase Auto Finance, Enterprise Car Sales

August 26, 2015 - Industry News

American Auto Guardian Unveils Consumer-Facing Mobile App

American Auto Guardian has released a new mobile app designed for its agents, dealers and the car-buying public. It interacts with all of the company’s products and allows for mobile contract registration, among other features.

August 26, 2015 - Industry News

AUL Corp. Named to 'Best Places to Work in the North Bay’ List

AUL Corp. was named one of the North Bay Business Journal’s ‘Best Places to Work in the North Bay,’ the second time the provider of used-vehicle service contracts has earned the distinction.

Tags: AUL Corp., F&I manager, F&I Process, F&I Products, used-vehicle financing, Used-Vehicle Sales

August 26, 2015 - Industry News

Timing of Labor Day to Drive Down August Sales by 4%, KBB Predicts

Because of the timing of Labor Day, August new-vehicle sales will not get the boost they got last year from the holiday sales weekend. But KBB analysts still expect August sales to 'remain robust.'

Tags: August sales, Kelly Blue Book, New-Car Sales

August 26, 2015 - Industry News

Depreciation Expected to Accelerate, Black Book/Fitch Report

The two firms reported this week that overall vehicle depreciation is expected to reach between 14% and 14.5% by the end of the year.

August 25, 2015 - Industry News

Car Owners Rejecting Entertainment, Connectivity Features, Report Finds

J.D. Power found that even Gen Y vehicle owners aren't finding the latest in-car entertainment and connectivity features useful. What consumers want are features that enhance the driving experience and safety.

Tags: Connected Vehicle, features, J.D. Power, Technology

August 25, 2015 - Industry News

ACSI: Customer Satisfaction Weakens as Recalls Continue

The American Customer Satisfaction Index showed declines for most automakers, with imports topping domestic brands. The nameplate with the highest score was Toyota’s Lexus.

August 25, 2015 - Industry News

DealerSocket Report Offers Tips On How to Thrive in Slow-Growth Times

DealerSocket released its annual Dealership Action Report, which emphasized the importance of formal, technology-driven processes to thrive and increase profitability during slow periods.

Tags: data mining, DealerSocket, online marketing, Parts and Service

August 25, 2015 - Industry News

DealerSuccess Launches Online Deal Tool

DealerSuccess announced the launch of Virtual Deal, an online deal creator that uses DMS-integrated technology to give consumers the option to work an entire deal online.

Tags: CRM, DMS integration, online marketing, online shoppers

August 21, 2015 - Industry News

Gould, Romani Discuss Industry Summit's 2015 Program

F&I Trainers Gerry Gould and Fernando Romani discuss Industry Summit's 2015 program (www.industrysummit.com). They also talk about what attendees can expect from their "Actions Speak Louder Than Words" workshop on Wednesday, Sept. 9, at 10:40 a.m.

Tags: F&I manager, F&I Products, F&I Tip of the Week, Fernando Romani, Gerry Gould, UDS

August 20, 2015 - Industry News

GWC Warranty Updates Online Dealer Portal

GWC Warranty has added educational video content, digital brochures and historical reporting to its online Dealer Portal, which celebrated its one-year anniversary since its launch.

August 19, 2015 - Industry News

CU Direct to Launch Custom Auto-Loan Risk Score

Designed by FICO, CU Direct Connect’s new auto-loan risk score will help credit unions make more profitable auto-lending decisions. The new feature will be available in 2015’s third quarter.

Tags: Credit Scores, CU Direct Connect, FICO, FICO Score

August 19, 2015 - Industry News

J.D. Byrider Opens New Franchise in Virginia

Used-car sales franchise J.D. Byrider has opened a second dealership in Richmond, Va., the sixth new J.D. Byrider franchise to open in 2015. The company now has 169 locations in 34 states.

Tags: Franchised Dealerships, used car sales, Virginia

August 18, 2015 - Industry News

Gould Bringing ‘F&I Tip of the Week’ to Industry Summit

Gerry Gould, the original host of F&I and Showroom’s F&I Tip of the Week, will cover the online video series’ Top 20 tips during his role-playing session at Industry Summit 2015.

Tags: AFIP, F&I Tip of the Week, Gerry Gould, Industry Summit, Jim Ziegler, NADA, National Automobile Dealers Association, UDS

August 18, 2015 - Industry News

AutoNation Acquires 16 Stores

AutoNation has signed agreements to acquire 13 stores in Georgia, Alabama and Tennessee, and three stores in the Baltimore, Md., market, bringing its total franchise count to 327.

Tags: Acquisition, AutoNation, Franchised Dealerships, Mike Jackson

August 18, 2015 - Industry News

Exeter Finance Names Analytics and Marketing VP

Exeter Finance Corp. has appointed Brian Donohue to the position of executive vice president of analytics and marketing.

Tags: Analytics, Capital One Auto Finance, Exeter Finance Corp., Hiring, Marketing

August 18, 2015 - Industry News

Auto Loan Defaults Rise in July

Consumer credit defaults remained relatively stable in July, according to data from S&P Dow Jones Indices and Experian. The on exception were auto loans, which showed an increase in defaults.

Tags: Auto Loans, Consumer Credit, default rates, Experian, S&P/Experian

August 18, 2015 - Industry News

RouteOne, Santander to Offer eContracting to All Chrysler Dealers

RouteOne and Santander Consumer USA, along with the finance source’s Chrysler Capital program, will make full eContracting capabilities available to all of Santander’s and Chrysler Capital’s dealers by 2016’s second quarter.

Tags: Chrysler, Chrysler Dealers, eContracting, RouteOne, Santander Consumer USA

August 18, 2015 - Industry News

Dealerships Losing 84% of Phone-Ups, IHS Automotive Reports

An analysis by IHS Automotive commissioned by CallSource found that dealers are failing to convert 84% of inbound prospect calls due to a lack of professionalism and inventory knowledge, among other reasons.

Tags: CallSource, how to sell over the phone, IHS Automotive, phone customer