September 6, 2016 - Industry News
Credit unions funded a record 529,000 auto loans through CU Direct’s Lending 360 and CUDL platforms in the first half of 2016. That amounts to more than $16.1 billion in funded automotive loans.
Tags: Auto Loans, Credit Unions, CU Direct Corporation, CUDL
Finance sources made more than five times as many loans to superprime customers than deep-subprime customers during the second quarter. Delinquencies were up only slightly, but balanced loan portfolios and stable automotive lending continued to quash subprime bubble fears, Experian reports.
Cox Automotive has named Shane O’ Dell president of financial solutions. The former Manheim exec will oversee NextGear Capital, where he served as COO before joining Manheim as senior vice president of vehicle solutions.
Tags: Cox Automotive, NextGear Capital, Promotion
Alpha Warranty announced the release of its DriveEasy Limited Lifetime Powertrain Warranty and its DriveEasy Wrap Protection vehicle service contract. The later provides up to five years and 100,000 miles of additional coverage, and is designed to complement the limited lifetime powertrain warranty,
Tags: Alpha Warranty Corp., vehicle service contract, warranty
RouteOne announced that Scott Johnsen, Amanda George and Jeff Belanger are transitioning from their directors roles to new executive positions.
Tags: F&I, RouteOne, Vice President
September 1, 2016 - Industry News
More than 16,000 independent dealerships will gain the ability to digitally rate, econtract, capture electronic signatures and submit contracts for more than 130 F&I aftermarket product provider as part of a recently announced partnership between Frazer and F&I Express.
Tags: Dealer Software, F&I Express, Frazer Software, Partnership
Dealertrack announced this week that it will be marketing and selling F&I Express’ Express Recoveries Solution through its platform beginning later this year on Oct. 1. The offering will provide lenders and consumers a refund of the unused portion of their aftermarket contracts, according to the company.
Tags: Aftermarket Products, Dealer Software, Dealertrack, F&I Express
WLC will add 10 luxury brands, including Acura, Audi, BMW, Jaguar, Land Rover, Lexus, Mercedes-Benz, MINI, Porsche and AMG, to Walser's existing 15 franchises, according to the company.
Tags: Acquisition, Dealer Group, Dealership, Luxury Vehicles
On Tuesday, Mazda North American Operations launched the Mazda Recall Information Center as part of an effort increase recall completions. The new website is only part of the company's initiative to ensure recalls are completed quickly and efficiently.
Tags: customer satisfaction, Mazda, Recalls
Volkswagen will begin offering its new models for lower prices and provide dealers with a broader product range in a move that could lower residual values if incentives remain high, according to an industry expert.
Tags: incentives, New Vehicle Prices, Volkswagen
August 26, 2016 - Industry News
In a verdict that took less than an hour to decide, a Houston Jury found that a General Motors ignition switch in a 2007 Saturn Sky did not cause a 2011 crash that killed one person and injured another, according to USA Today.
Tags: Court Decision, General Motors, Ignition Switch
Spireon Inc. announced that its GPS-based vehicle telematics solution Spireon SkyLink will now give dealers the ability to offer connected car services to their customers, opening the door to a new F&I profit center.
Tags: Connected Vehicle, F&I, Spireon
August 25, 2016 - Industry News
Sun Toyota introduced today a new door-to-door vehicle delivery service that brings the dealership's showroom directly to a customer's home or office.
Tags: Dealership, Online Shopping, Test Drive
Melissa Roberts has joined GWC Warranty as its new marketing manager. She will be responsible for developing and implementing a customer strategy focused on engaging and retaining GWC partners.
Tags: GWC Warranty Corporation, Hire, marketing
The largest share of outstanding student loans is held by graduates age 30 to 39, according to the firm. Many of these graduates belong to the millennial generation, which, according to Pew Research, have overtaken Baby Boomers as the nation’s largest living generation.
Tags: Moody's, Report, Retail Sales, Student Loan
The wholesale value of 2008-2014 model-year cars continued to fall last week, according to Black Book’s Market Insights report. While many of the familiar trends — trucks performing better than cars — were present, there were some outliers.
Tags: Black Book, depreciation, Wholesale, wholesale values
The Automotive Industry Action Group (AIAG) has appointed Cesar D. Pucci, director of corporate quality at Eaton Corporation, to its board of directors. He joins the more than 20 executives from the OEM and supplier community who currently serve on the AIAG board.
Tags: AIAG, Automotive Industry Action Group, Board of Directors
The ecommerce site stopped short of saying it's looking to compete against lead sites like Cars.com, TrueCar, and Edmunds.com, describing its new web page as a car research destination and automotive community designed to help 'customers get the information they need when shopping for vehicles, images, videos, customer reviews.'
Tags: Auto Research, Car Shopping, Online Shopping, Web Tools
August 24, 2016 - Industry News
Among the 24 automotive brands tracked by the American Customer Satisfaction Index, 16 showed improvement and five showed declines. Three of those declines came from premium brands, the most notable being Volkswagen.
Tags: customer satisfaction, Domestic Vehicles, Luxury Vehicles
August 23, 2016 - Industry News
The former president of Cox Automotive's Media Solutions Group has found a new home. According to a press announcement, Jared Rowe is set to become CEO of YP.com on Sept. 1.
Tags: Cox Automotive, digital marketing, Jared Rowe, YP.com
Users of both company's automotive solutions should expect to see enhanced customer insights as a result of the integration, which, according to Auto/Mate, will allow for real-time updates of customer, vehicle, service and deal information in both systems.
Tags: Auto/Mate, CRM, DMS, DMS integration, Dominion Dealer Solutions
Organizers of the upcoming Industry Summit have announced that Automotive Mobile Solutions (AMS) is offering a free year of mobile wallet geofencing services to the winner of a drawing at the event, which will be held Aug. 29–31, 2016, at Paris Las Vegas.
Tags: Automotive Mobile Marketing of the Year award, digital marketing, Geofencing, Industry Summit, Parts and Service
For the sixth consecutive year, ADESA Northwest was selected as the U.S. Bank Auction of the Year in the marine/RV segment. .
Tags: ADESA, Auction, Award, U.S. Bank
EFG Companies and Northwood University have launched their second F&I Innovator of the Year competition. The contest asks six teams of junior and senior Northwood automotive students to conceptualize and build a new F&I product. The winning product will then be developed by EFG Companies, who will donate a percentage of the product's sales profits back to the school.
Tags: EFG Companies, F&I Innovations, F&I products, Northwood University
Jumpstart Automotive Group today announced it is changing its name back to Jumpstart Automotive Media. The company also unveiled a new logo company officials said reflects the evolution of the business and the market it serves.
Tags: Hearst Autos, Hearst Magazines, Jumpstart Automotive
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