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September 29, 2015 - Industry News

AmTrust Completes Acquisition of Warranty Solutions

AmTrust Financial Services has announced the completion of its acquisition of Warranty Solutions from Wells Fargo for approximately $158 million in cash.

Tags: Acquisition, AmTrust, Wells Fargo

September 29, 2015 - Industry News

Manheim Receives 16 Performance Awards at NAAA

Sixteen Manheim locations received top honors from Chase Auto Finance and Enterprise Holdings at the 67th annual National Auto Auction Association convention.

Tags: Auto Auctions, Awards, Manheim

September 28, 2015 - Industry News

Santander Faces Class-Action Over ‘Worthless’ GAP Coverage

A woman who says she was duped into purchasing “void and worthless” GAP coverage has filed a class action suit against the finance source on behalf of Illinois customers who have signed similar contracts.

Tags: Disclosures, F&I products, GAP, Lawsuit, Santander Consumer USA, Truth in Lending Act

September 24, 2015 - Industry News

Calif. DMV Looking Into Tesla’s Referral Program

The state DMV confirmed today that it is ‘looking into the matter,’ almost month after the state dealer association called on the agency to investigate whether the program violates the state’s ban on ‘bird-dogging.’

Tags: bird-dogging, Brian Maas, California New Car Dealers Association, DMV, Tesla, Tesla Motors

September 23, 2015 - Industry News

VW CEO Resigns Amid Emissions Scandal

Photo Courtesy of Volkswagen

Volkswagen's Martin Winterkorn has resigned from his post in the wake of the company's developing emissions scandal.

Tags: California Air Resources Board, Diesel Powered, emmissions, EPA, Martin Winterkorn, Volkswagen

September 23, 2015 - Industry News

AutoVIN Assembles Leadership Team for Expanded Operations

AutoVIN, a subsidiary of ADESA, has assembled a seasoned leadership team for the company’s expanded operations in Canada and the United States.

Tags: Acquisition, ADESA, AutoVIN, DataScan, DataScan Field Services, Hiring

September 23, 2015 - Industry News

CreditMiner Receives Bureau Global Reseller Status

CreditMiner has been granted full global reseller status with all three national credit bureaus, allowing for a seamless transition from a soft bureau transaction to a full application within the company’s software platform.

Tags: Credit, Credit Bureaus, Dealer Software

September 23, 2015 - Industry News

Edmunds Announces Four Executive Hires

Edmunds.com has appointed four new executives to its leadership team in the marketing and dealer business segments.

Tags: Edmunds.com, leadership, Marketing

September 23, 2015 - Industry News

Default Rates Increased in August

Default rates inched up in August across multiple consumer credit categories, including auto loans and mortgages, according to data released by S&P Dow Jones Indices and Experian.

Tags: August sales, default rates, Dow Jones Industrial Average, S&P/Experian

September 22, 2015 - Industry News

(UPDATED) CFPB Officials Acknowledge Issues With Proxy Methodology, American Banker Reports

Internal CFPB documents obtained by American Banker show bureau officials repeatedly acknowledging that the method used for detecting discrimination by indirect auto lenders may overestimate disparities.

September 22, 2015 - Industry News

Volkswagen 'Deeply Sorry' About EPA Violation

Photo courtesy of Volkswagen

Volkswagen's chief executive apologizes for emissions scandal and promises to 'do everything necessary in order to reverse the damage this has caused.'

Tags: Clean Air Act, emmissions, EPA, TDI, Volkswagen

September 17, 2015 - Industry News

Ford Syndicating Dealer Inventory to CarGurus.com

Ford is now syndicating its dealers’ new-vehicle inventory to CarGurus.com, a vehicle-shopping site that has drawn criticism for the way it rates dealers and their deals.

Tags: CarGurus, Ford, FordDirect, Internet Leads, Lead Generation, Online Marketing, Vehicle Sales

September 16, 2015 - Industry News

Auto/Mate CFO Named ‘CFO of the Year’ By Albany Business Review

Auto/Mate CFO Carole Plant is one of 10 CFOs in the New York capital region to receive the award, which recognizes strategic thinkers who grow their businesses.

Tags: Albany Business Review, Auto/Mate, Awards

September 16, 2015 - Industry News

Dent Wizard Adds Regional Business Development Manager

Scott Stoner has been promoted to the role of mid-south regional business development manager for Dent Wizard. He will work out of St. Louis.

Tags: Appearance Protection, Dent Wizard, F&I products, Hiring

September 16, 2015 - Industry News

Dealers, OEMs At Odds Over Digital Ad Strategies, Netsertive Finds

Dealers are driving the auto industry’s digital advertising push, but manufacturers are still heavily favoring traditional media, according to a new report.

Tags: Digital Marketing, Internet shopper, manufacturers, Mobile Marketing, Video Advertising

September 16, 2015 - Industry News

Chrysler Dealer Lawsuit Against U.S. Government to Go Forward

A lawsuit alleging that the U.S. government acted illegally when it required Chrysler to close down 789 dealerships in order to be eligible for funding from the Troubled Asset Relief Program will be allowed to move forward, a judge ruled last week.

Tags: Bellavia Blatt, Chrysler, impact of the Great Recession, Lawsuit, Leonard Bellavia, TARP, Troubled Asset Relief Program

September 15, 2015 - Industry News

Dealer Liable for Test Drive Accident, Appeals Court Finds

Citing the doctrine of joint venture, the Colorado Court of Appeals ruled last week that a dealership will be held liable for damages caused by a customer during a test drive.

September 15, 2015 - Industry News

FTC Official Releases 7 Deadly Sins of Dealer Advertising

Ahead of her appearance at the Innovate 2015 conference, the FTC official who led Operation Ruse Control has released a list of advertising sins that have put dealers on her regulatory radar.

Tags: advertising violations, Deceptive Advertising, Federal Trade Commission, FTC, UDAP

September 14, 2015 - Industry News

TrueCar President to Lead Google’s Self-Driving Car Initiative

John Krafcik is stepping down this week as president of TrueCar to take on a new role as CEO of the autonomous car division of Google.

Tags: AutoNation, Google, Hiring, Hyundai, John Krafcik, Scott Painter, TrueCar

September 9, 2015 - Industry News

Instagram Announces Extensive Rollout of Ad Capabilities

Instagram advertising can now be deployed by companies across 30 countries, with worldwide availability expected by the end of the month, the social media site announced.

Tags: Facebook, facebook advertising, facebook marketing, Instagram, Video on Instagram

September 8, 2015 - Industry News

F&I and Showroom to Name 2015 F&I Dealer of the Year

This year’s F&I Pacesetters consist of operations from Florida, Indiana, Kansas, North Carolina and Pennsylvania. One of them will be named the 2015 F&I Dealer of the Year during a ceremony at the magazine's annual conference at the Paris Las Vegas on Thursday, Sept. 10.

September 8, 2015 - Industry News

Dealer Fined $690,000 for Consumer-Protection Law Violations

A used-car dealership will pay more than $690,000 after a New Jersey Superior Court Judge found that it violated state consumer protection laws and regulations a total of 640 times.

Tags: Attorney General, Buyers Guide, Compliance, consumer protection, Craigslist, Federal Trade Commission, fine, New Jersey, Used Vehicles

September 8, 2015 - Industry News

Apple, Google to Integrate Smartphones with Vehicles

With the 2016 model year, Apple’s CarPlay and Google’s Android Auto will make smartphone integration available with the touch of a steering wheel button.

Tags: apple, Connected Vehicle, General Motors, Google, smartphones

September 8, 2015 - Industry News

AutoNation Will No Longer Sell Cars With Open Recalls

AutoNation has announced a new policy to not sell, lease or wholesale any new or used vehicle that has an open safety recall. The dealer group will now hold those vehicles in inventory until they are repaired.

Tags: AutoNation, vehicle recall, Wholesale

September 3, 2015 - Industry News

Millennials Continue to Stump Traditional Banks

A new report from Bank Director showed that today’s Baby Boomer- and Gen X-run banks are still trying to figure out the next big generation of consumers.

Tags: auto finance, Baby Boomers, banks, direct lending, Indirect Lending, Millenials