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November 5, 2015 - Industry News

Industry Posts 18.25 Million SAAR in October, Autodata Reports

The industry sold 1.46 million units in October, according to Autodata Corp. October's SAAR was 18.24 million units, the highest rate of the year.

Tags: Autodata Corp, monthly sales, New Vehicles, Retail Sales, SAAR

November 5, 2015 - Industry News

FTC Announces Multiagency Crackdown on Abusive Debt Collectors

Operation Collection Protection has resulted in 115 total actions against debt collectors this year, 30 of which were announced during the FTC’s press conference to announce the multiagency initiative.

Tags: CFPB, Debt Collection, Federal Trade Commission, SNAAC, Westlake

November 4, 2015 - Industry News

Hyundai Turns Genesis Into Standalone Luxury Division

Photo of Euisun Chung, vice chairman, announcing the Genesis luxury brand courtesy of Hyundai.

Hyundai plans to launch six new models by 2020 under its Genesis nameplate, which will operate as a standalone global luxury brand.

Tags: Hyundai, Hyundai Genesis, Luxury Vehicles

November 4, 2015 - Industry News

Auto Loan Balances Totaled $968 Billion in Q3

Experian Automotive reported that outstanding loan balances are now up more than 53% from the post-recession low in 2010.

Tags: auto finance, Auto Loan Delinquency Rate, Experian Automotive, outstanding loan balances

November 4, 2015 - Industry News

GWC Warranty Earns Two 2015 Automotive Communication Awards

The F&I product provider’s Accelerate blog and ‘Behind the Wheel’ dealer story series took top honors in the best business-to-business blog and best ‘Business Use of a YouTube Video’ categories, respectively.

Tags: Automotive Communications Awards, F&I product provider, F&I products, GWC Warranty Corporation, Used-Vehicle Service Contracts

November 3, 2015 - Industry News

New-Vehicle Transaction Prices Rise More Than 1% in October

The Volkswagen brand, still suffering from the diesel emissions scandal, was the only brand to show a dip in average transaction prices.

Tags: Kelley Blue Book, New-Vehicle Sales, October 2015, Third Quarter, Transaction Prices

November 3, 2015 - Industry News

Quantech Adds Unidirectional Support to Dealertrack Integration

Quantech Software's new unidirectional Dealertrack integration allows F&I managers to start deals in the software company’s web-based Q-F&I Online or Dealertrack.

November 3, 2015 - Industry News

AutoNation Posts $146 Q3 Increase in F&I Per-Copy Average

The group averaged $1,549 in F&I profit per vehicle retailed in the third quarter. Company officials noted that new-vehicle PVRs from self-generated sales, including F&I contributions, were about $800 higher than new-vehicle PVRs from sales generated by third-party lead providers.

Tags: AutoNation, Quarterly Earnings, Third Quarter, TrueCar

November 2, 2015 - Industry News

New eBook Looks at Dealership Cyber Threats

Helion Automotive Technologies has released a free e-book that looks at the growing number of cyber-attacks on U.S. auto dealerships.

Tags: Cyber Security, dealer information security, Helion Technologies

October 30, 2015 - Industry News

Calif. DMV Puts Tesla Motors on Notice

In response to the state dealer association’s claims that Tesla Motors is in violation of state and federal advertising laws, the state DMV issued a warning to electric vehicle makers about adhering to such laws.

Tags: Advertising, California New Car Dealers Association, Deceptive Advertising, DMV, Regulation Z, Tesla, Tesla Motors

October 29, 2015 - Industry News

FTC Approves Consent Order Against BMW North America

Under the approved consent order, BMW is barred from telling MINI owners that routine maintenance must be done by franchised dealers in order to ensure a vehicle’s safe operation or to maintain its value.

Tags: BMW North America, Magnuson-Moss Warranty Act, MINI

October 29, 2015 - Industry News

Asbury Realizes $28 Increase in Q3 F&I PVR

Training, improving the performance of the group’s bottom-third producers and increased product penetration were drivers of the group’s Q3 per-copy increase, which stood at $1,362.

Tags: Asbury Automotive, F&I manager, F&I products, F&I profit per vehicle retailed, PRU, PVR

October 28, 2015 - Industry News

Raycom Media Acquires PureCars

The acquisition brings together one of the nation’s largest broadcasters and one of the industry's leading digital advertising platforms. Officials said the combination of both companies could revolutionize the way TV and digital advertising work together.

Tags: Digital Marketing, Internet shopper, PureCars, TV advertising

October 28, 2015 - Industry News

Industry Veteran Gregg Stallings Joins izmocars

Bringing more than 20 years of experience in the image licensing business, Stallings will oversee all stock sales and the business development of interactive media for the company’s izmoStudio, izmoStock and izmotion.

Tags: Digital Marketing, Gregg Stallings, izmocars, Marketing

October 28, 2015 - Industry News

CFPB Orders SNAAC to Pay $3.28 Million for Illegal Debt Collection Practices

Four months after suing SNAAC for employing illegal debt collection practices, the CFPB has ordered the finance company to pay $3.28 million in refunds and fines to resolve the regulator's claims.

Tags: CFPB, Debt Collection, Servicemembers Civil Relief Act, SNAAC

October 28, 2015 - Industry News

EasyCare Named Finalist in Digital PR News Awards

The F&I product provider is competing against the ALS Ice Bucket Challenge and the United Nations’ +SocialGood campaigns in the ‘Online Community’ category of the Digital PR Awards.

Tags: EasyCare, F&I product provider, Social Media, social media marketing

October 27, 2015 - Industry News

NADA: Employee Salaries at New-Car Dealerships Rise

Not only was employee turnover below the rate recorded in the private sector, dealership employees earned 29% more than private-sector workers. The study also showed that F&I had the highest ratio of women.

Tags: F&I manager, NADA, NADA Workforce Study, Parts and Service, Pay Plans, sales department, Service Department

October 27, 2015 - Industry News

KBB Predicts 12% Increase in New-Vehicle Sales

The vehicle information site said this week it expects new-vehicle sales to total 1.43 million units in October, the highest October sales volume in more than a decade.

Tags: fleet sales, Kelley Blue Book, New-Vehicle Sales, Retail Sales

October 27, 2015 - Industry News

CreditMiner Integrates With Flick Fusion Platform

CreditMiner has partnered with Flick Fusion to incorporate its real-time soft credit-pull technology with Flick Fusion’s online and mobile video platform.

Tags: Credit, Credit Scores, Flick Fusion, Video Advertising

October 27, 2015 - Industry News

Auto/Mate Offers A Resource for Better Hiring Practices

Auto/Mate Dealership Systems has released a free e-book designed to help dealerships minimize employee turnover and improve hiring practices.

Tags: Auto/Mate, employee retention, Hiring, Turnover

October 27, 2015 - Industry News

Integration Connects VinConnect CRM With GoMoto's HUB

VinSolutions announced new integration between its VinConnect CRM tool and GoMoto’s Digital HUB technology.

Tags: Car Shopping, CRM, Customer Experience, GoMoto, HUB, VinSolutions

October 22, 2015 - Industry News

GM Financial’s Role as GM Captive Expanding in November

GM Financial's role as GM's captive will expand in early November with Ally's removal from the automaker's loan subvention programs.

October 22, 2015 - Industry News

Banking Regulator Issues Warning to Auto Finance Industry

The Comptroller of the Currency warned in a speech delivered yesterday that the pace of auto lending reminds him of the mortgage industry in the run up to the 2009 financial crisis.

Tags: auto finance, Auto Loan Delinquency Rate, Auto Loan Terms, banks, economic downturn, economic recovery, Experian Automotive, Office of the Comptroller of the Currency

October 22, 2015 - Industry News

NADA Convention Posts 12% Attendee Increase During First Week of Registration

Since online registration opened five days ago, nearly 2,200 dealers have registered to attend the association's 2016 convention, the NADA reported this week.

Tags: NADA, NADA Convention & Expo

October 22, 2015 - Industry News

KAR Auction Services IT Leader Wins Security Award

KAR Auction Services’ security architecture program manager and enterprise security strategist, Noah Jaehnert, was honored by the International Information System Security Certification Consortium.

Tags: Auto Auctions, Cyber Security, Used Vehicles