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July 8, 2015 - Industry News

Used-Vehicle Market Remains Solid, Manheim Reports

Used-vehicle values remained in line with expectations during the second quarter, according to Manheim.

Tags: Manheim, Manheim Used Vehicle Report, Second Quarter, used-vehicle values

July 8, 2015 - Industry News

GSFSGroup Launches Project to Support Veterans

GSFSGroup associates have launched an annual service project to assemble care packages for military veterans at the Michael E. DeBakey VA Medical Center in Houston.

Tags: GSFSGroup

July 8, 2015 - Industry News

Smaller Cars, Domestics Depreciated Most in June, Black Book Reports

Data from Black Book shows an increasingly large disparity between car and truck depreciation patterns, with smaller cars experiencing the most depreciation during June.

Tags: Black Book, car prices, June, vehicle depreciation

July 7, 2015 - Industry News

Industry Summit Organizers Reveal New Conference Features

Industry Summit 2015 will feature new lightning-round sessions that will allow attendees to discover new F&I tools and solutions, event organizers announced.

July 7, 2015 - Industry News

UDS Names New South Florida Regional Manager

A former F&I development manager for AutoNation has joined United Development Systems as its new regional manager for the South Florida market.

July 7, 2015 - Industry News

AutoStar Solutions Shares Top Credit Reporting Mistakes

AutoStar's Richard Hudson shares the five most common mistakes dealers and lenders make when notified of a credit reporting dispute.

Tags: auto lending, AutoStar Solutions, CFPB, credit reporting, Dealers

July 7, 2015 - Industry News

F&I Express Wins Dealers’ Choice Award for F&I Technology

F&I Express has won a Gold Award in the F&I Technology category of Auto Dealer Monthly’s Dealers’ Choice Awards.

Tags: Auto Dealer Monthly, Dealers' Choice Awards, F&I Express

July 7, 2015 - Industry News

Larry H. Miller Dealerships Begins Online Parts Sales

Customers of Larry H. Miller Dealerships can now order vehicle parts directly through a new e-commerce platform, currently available through 20 Larry H. Miller dealership websites.

Tags: e-commerce, Larry H. Miller Dealerships, Parts and Service, special order parts

July 7, 2015 - Industry News

Nomination Deadline for F&I Dealer of the Year Announced

Pictured are F&I and Showroom's Gregory Arroyo, 2014 F&I Dealer of the Year Jane Vaden Thacher, and The Warranty Group's Ash Bauer.

F&I and Showroom is now accepting nominations for the 2015 F&I Dealer of the Year award. Nominations must be received by July 31, 2015.

Tags: F&I Dealer of the Year

July 1, 2015 - Industry News

CFPB Preparing to Cite Three Captives, American Banker Reports

According to proposed consent orders obtained by American Banker, Honda, Nissan and Toyota’s captive finance companies could soon be on the hook for dealer participation policies.

Tags: American Honda Finance, auto lending, captive finance, CFPB, Consumer Financial Protection Bureau, Department of Justice, discrimination, DOJ, Honda, Nissan, Nissan Motor Acceptance Corp., Toyota, Toyota Financial Services, Toyota Motor Credit Corp

July 1, 2015 - Industry News

DealerRater Streamlines Review Collection for Dealers

The dealer review site announced the addition of ReviewBuilder to its certified dealer program. The automated solution is designed to help dealers accelerate the collection of online reviews.

July 1, 2015 - Industry News

New-Car Transaction Prices Continue to Rise in June

New-car transaction prices rose 2% in June, with Ford leading the way. The only automaker to realize a decrease was the Volkswagen Group.

Tags: Kelley Blue Book, New-Vehicle Sales, Transaction Prices

July 1, 2015 - Industry News Analyzes Benefit of Daily Leads Program reported this week that its Daily lead program significantly increased response rates for dealers marketing to bankrupt shoppers.

Tags: bankruptcy, online marketing, OnlineBKManager

July 1, 2015 - Industry News

Median Media Adds Flick Fusion to Marketing Solutions

The multimedia marketing solutions company announced today that it has added Flick Fusion’s inventory videos to its menu of services for dealerships.

Tags: Flick Fusion, online marketing, Video Advertising

June 30, 2015 - Industry News

Automotive Loyalty Reaches Highest Levels in a Decade, IHS Reports

IHS reported this week that brand loyalty among automotive brands has reached a 10-year high, with 13 brands also realizing 10-year highs in loyalty rates.

Tags: Customer Retention, IHS Automotive, Loyalty Rates, New-Vehicle Sales

June 30, 2015 - Industry News

Experian Examines the Muscle Car Resurgence

Experian Automotive's review of the American muscle car resurgence found that Chevrolet Corvette and Dodger Viper buyers tend to pay cash, while the Dodge Charger was the most leased muscle car.

Tags: Chevrolet Corvette, Consumers, demographics, Dodge Challenger, Dodge Viper, Experian Automotive, Ford Mustang

June 30, 2015 - Industry News

Calif. Dealer Sentenced to 13 Years for Embezzlement

The former owner and operator of Costa Mesa Bellagio Motors, a car dealership that specialized in buying and selling high-end luxury vehicles, was sentenced this week after pleading guilty to embezzling more than $2 million from unsuspecting customers.

Tags: Compliance, embezzlement, Fraud, Luxury Vehicles, prison

June 30, 2015 - Industry News

J.D. Power Forecasts Strongest June Sales in a Decade

New-vehicle retail sales and the retail seasonally adjusted annualized selling rate are expected to be at their highest levels for the month of June since 2005, according to a monthly sales forecast by J.D. Power and LMC Automotive.

Tags: J.D. Power and Associates, New Vehicles, Retail Sales, SAAR

June 30, 2015 - Industry News

NADA’s Koblenz Joins Industry Summit Roster

The NADA official who has spearheaded the association's efforts to protect franchised dealers from federal regulatory overreach will be at Industry Summit 2015 to deliver a keynote address, event organizers announced this week.

Tags: Andy Koblenz, CFPB, Disparate Impact, National Automobile Dealers Association

June 30, 2015 - Industry News

Two Las Vegas Dealers Settle FTC Charges

Two auto dealers in Las Vegas agreed to settle FTC charges that they used deceptive ads to promote the sale or leasing of their vehicles, including advertising heavily discounted prices that were not generally available to consumers.

Tags: Deceptive Advertising, Federal Trade Commission, Settlement

June 25, 2015 - Industry News

Supreme Court Upholds Disparate Impact

Source: Wikipedia

In a 5-4 vote, the Supreme Court held that disparate impact claims are cognizable under the Fair Housing Act, dashing the hopes of industry insiders who believed a ruling against the controversial legal theory would put a kibosh on the CFPB’s actions in auto lending.

Tags: Ally Financial, CFPB, Consumer Financial Protection Bureau, Disparate Impact, fair lending, Supreme Court

June 25, 2015 - Industry News

Protective Asset Protection Receives 2015 Dealers’ Choice Award

Protective Asset Protection was named a Platinum winner in the vehicle service contract provider category of Auto Dealer Monthly’s 2015 Dealers’ Choice Awards.

June 25, 2015 - Industry News

KBB Raises 2015 Sales Forecast to 17.1 Million Units

Kelley Blue Book said today that it expects June sales to total 1.5 million units, which would push first-half and second-quarter sales totals to their highest levels since 2005. The firm also raised its 2015 sales forecast from 16.9 million to 17.1 million.

Tags: auto dealers, Auto Industry, Kelley Blue Book, New-Vehicle Sales

June 24, 2015 - Industry News

A1 Software Launches Mobile CRM Sales App

A! Software has rolled out a freemium mobile CRM sales app that allows salespeople to manage prospects, manage and showcase inventory and manage their appointment schedule.

Tags: A1 Software Group, CRM, Mobile Applications, Mobile CRM, Salespeople, Showroom

June 24, 2015 - Industry News

Exeter Finance Appoints New Executive VP

Exeter Finance Corp. named Martin Evans as its new executive vice president and chief human resources officer.

Tags: employment, Exeter Finance Corp., Hiring, Human Resources