Top News

51  -  75  of  2783

February 28, 2017 - Industry News

Kontos: January Wholesale Prices Rise 6.7% YOY

Wholesale used-vehicle prices in January averaged $10,945, a 6.7% increase from a year ago and a 2.8% rise from the prior month, according to ADESA Analytical Services.

Tags: ADESA, certified pre-owned vehicles, Tom Kontos, used-vehicle sales, Wholesale Values

February 28, 2017 - Industry News

DataScan Announces Organizational Changes

The company announced the appointment of Ed Brown as president. He succeeds Brent Sergot, who was promoted to group vice president with World Omni Financial Corp.

February 28, 2017 - Industry News

eBay Grows Dealer Referrer Network

eBay Motors reports an expanding network of dealers and car buyers. The program is designed to offer automotive partner organizations the ability to sell eBay’s subscription packages to their existing dealer networks.

Tags: eBay Motors

February 28, 2017 - Industry News

Black Book: Small Crossovers and Cars Have Strong Week

After four weeks of living below 0.37%, the depreciation rate for the truck segment reached its highest level in February — and its second-highest this year — last week, according to Black Book’s Feb. 27 Market Insights report.

Tags: Black Book, vehicle depreciation, Wholesale Values

February 27, 2017 - Industry News

Black Book/Fitch: Vehicle Depreciation to Reach 17.8% in 2017

The vehicle valuation firm said the depreciation rate will rise from 17.3% in 2016 to 17.8%, while Fitch said Auto ABS performance will continue to slow in 2017 as losses slowly rise to more normalized levels.

Tags: Auto ABS, Black Book, Fitch Ratings, vehicle depreciation

February 27, 2017 - Industry News

CNA National Distributed $40 Million to Dealers in 2016

CNA National Warranty Corp. (CNAN) returned more than $40 million to automobile dealers across the U.S. through its various participation plans for 2016, the company announced this week.

Tags: CNA National, GAP, vehicle service contracts

February 27, 2017 - Industry News

AutoFi Adds iLendingDIRECT Network

AutoFi today announced the addition of iLendingDIRECT and its network of credit unions to its point-of-sale auto finance solution. The fintech firm also announced its entrance into the used-vehicle market.

Tags: AutoFi, Digital Retailing, Online F&I

February 24, 2017 - Industry News

F&I Digital Media Awards Now Accepting Entries

Entries are now being accepted for the 2017 F&I Digital Media Awards, organizers announced Friday. The submission deadline is Friday, March 31, 2017.

Tags: Digital Retailing, F&I Digital Media Awards, Online F&I

February 23, 2017 - Industry News

Spireon Reports ‘Outstanding’ 2016

Spireon Inc. reported second-half gains in revenue, profitability and multiple segments in 2016. The company is also in the midst of a 14-year run of top-line growth and 'outstanding' financial and operational performance, officials said.

Tags: Connected Vehicle, Spireon, telematics

February 23, 2017 - Industry News

New York Fed: Auto Originations Reach 18-Year High in 2016

Every type of debt posted a quarter-over-quarter increase, with auto loan balances increasing by $22 billion ($93 billion from a year ago) to $1.16 trillion. Much of that growth was driven by originations, which totaled $142 billion. That’s the highest level recorded in the 18-year history of New York Fed’s data.

Tags: Auto Loan Delinquency Rate, auto loan origination, Federal Reserve Bank of New York

February 23, 2017 - Industry News

Georgia Man Pleads Guilty to Odometer Fraud

A Georgia businessman this week pleaded guilty to operating an odometer fraud scheme that revolved around buying later-model cars at auction, tampering with the odometer reading, and then selling the cars at inflated prices, the U.S. Department of Justice announced.

Tags: compliance, Department of Justice, Odometer Fraud

February 23, 2017 - Industry News

Dallas Compliance Summit Set to Break Attendance, Certification Records

Organizers of Compliance Summit say an 'unprecedented' response to the announcement that the next event will be held alongside Industry Summit at the Gaylord Texan in Grapevine, Texas, all but guarantees the Sept. 11, 2017, event will set new marks for attendance and Automotive Compliance Specialist certification.

Tags: Automotive Compliance Specialist, Compliance Summit, Gil Van Over, Industry Summit, Jim Ganther

February 23, 2017 - Industry News

Hiroto Saikawa Replaces Ghosn as Nissan's CEO

Saikawa

Veteran leader Hiroto Saikawa will replace Carlos Ghosn as CEO of Nissan Motor Co., the automaker announced on Thursday. Ghosn will remain chairman of Nissan's board of directors.

Tags: Carlos Ghosn, Hiroto Saikawa, Nissan

February 23, 2017 - Industry News

Sonic Reports Recordbreaking Fourth Quarter

The nation’s fourth-largest auto retailer reported annual and quarterly records for pre-owned sales, F&I gross profit and fixed ops gross profit.

February 22, 2017 - Industry News

Randy Henrick Joins Mosaic Compliance Services

Attorney Randy Henrick has joined Mosaic Compliance Services, where he will serve as vice president and compliance counsel.

Tags: compliance, James Ganther, Mosaic Compliance Consultants, Randy Henrick

February 22, 2017 - Industry News

Interstate Title Solutions Partners With NIADA

The technology solution provider is the association’s newest National Member Benefit partner, which means association members will have discounted access to the firm’s out-of-state tax, title and registration tool, DMV Nationwide.

Tags: DMV Nationwide, F&I manager, NIADA, tax and title fees

February 22, 2017 - Industry News

EFG Launches Multimedia Compliance Platform

The company today announced the launch of Common Sense Compliance, a platform designed to break through the legalese of automotive compliance with practical and actionable information. The platform will feature a video series and podcast hosted by Steve Roennau, the company’s vice president of compliance.

Tags: compliance, EFG COmpanies, F&I manager, Steve Roennau

February 22, 2017 - Industry News

J.D. Power: Quality Not Exclusive to Highlines

The 2014 Toyota Prius topped J.D. Power’s latest dependability rankings in the compact car segment, one of 10 category wins for the mass-market OEM. Photo courtesy Toyota Motor Sales USA Inc.

J.D. Power’s annual dependability rankings include a strong showing from a number of mass-market manufacturers, including Toyota, General Motors and Hyundai.

Tags: Buick, Dodge, Ford, General Motors, J.D. Power, Land Rover, Lexus, Mercedes-Benz, Porsche, Toyota, Vehicle Dependability

February 22, 2017 - Industry News

RoadVantage Appoints Mike Essig Director of Risk Management

Mike Essig is a 13-year industry veteran who specializes in actuarial analysis and risk management. He most recently served as risk management director and actuary at CNA National. He now joins a firm that's expanding contract volume, programs, staff and offices.

Tags: F&I manager, F&I products, RoadVantage

February 22, 2017 - Industry News

National Auto Care Names Steve Verney CFO

The company’s new executive retired from Allstate Insurance in 2015 after a 34-year career. Now he’ll head the F&I product provider’s finance, accounting, and reinsurance teams. His main goal, officials said, will be to help amplify the company’s recent profitable growth.

Tags: F&I manager, F&I products, National Auto Care

February 22, 2017 - Industry News

automotiveMastermind Names New Dealer Relations Head

The digital marketing firm today announced the promotion of Napolean Rumteen to vice president of dealer relations, a new role created to increase the firm’s level of service to its dealer and OEM partners.

Tags: automotiveMastermind, business development center, digital marketing, internet department, Vehicle Sales

February 22, 2017 - Industry News

Eric Brown Named President of LotLinx

The executive, who founded research firm Dataium in 2009 before joining LotLinx in September, also assumes the title of chief product officer.

Tags: business development center, digital marketing, Digital Retailing, Internet Leads, LotLinx

February 21, 2017 - Industry News

CarMax Opens West Coast Reconditioning Hub

Photo via Flickr.

CarMax has opened a store in Murrieta, Calif., that will include a four-lane auction and serve as the West Coast reconditioning hub for the nation's largest retailer of used cars.

Tags: Auctions, CARMAX, Dealers, reconditioning

February 21, 2017 - Industry News

AutoGravity Announces Partnership With Westlake

The subprime finance source’s auto financing options will now be available through the FinTech firm’s digital platform, which allows car buyers to select a vehicle, find nearby dealerships that carry the vehicle, apply for financing, and choose from up to four personalized financing options on their mobile device.

Tags: AutoGravity, Digital Retailing, F&I manager, Online F&I

February 21, 2017 - Industry News

IHS Markit: Global Auto Sales to Reach 93.5 Million in 2017

The market research firm noted that industry risk in mature markets is at the highest level it has been since the Lehman Brothers collapse and global industry downturn from 2008 through 2010.

Tags: IHS Markit, Vehicle Sales