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August 26, 2015 - Industry News

Depreciation Expected to Accelerate, Black Book/Fitch Report

The two firms reported this week that overall vehicle depreciation is expected to reach between 14% and 14.5% by the end of the year.

August 25, 2015 - Industry News

Car Owners Rejecting Entertainment, Connectivity Features, Report Finds

J.D. Power found that even Gen Y vehicle owners aren't finding the latest in-car entertainment and connectivity features useful. What consumers want are features that enhance the driving experience and safety.

Tags: Connected Vehicle, features, J.D. Power, Technology

August 25, 2015 - Industry News

ACSI: Customer Satisfaction Weakens as Recalls Continue

The American Customer Satisfaction Index showed declines for most automakers, with imports topping domestic brands. The nameplate with the highest score was Toyota’s Lexus.

August 25, 2015 - Industry News

DealerSocket Report Offers Tips On How to Thrive in Slow-Growth Times

DealerSocket released its annual Dealership Action Report, which emphasized the importance of formal, technology-driven processes to thrive and increase profitability during slow periods.

Tags: data mining, DealerSocket, Online Marketing, Parts and Service

August 25, 2015 - Industry News

DealerSuccess Launches Online Deal Tool

DealerSuccess announced the launch of Virtual Deal, an online deal creator that uses DMS-integrated technology to give consumers the option to work an entire deal online.

Tags: CRM, DMS integration, Online Marketing, online shoppers

August 21, 2015 - Industry News

Gould, Romani Discuss Industry Summit's 2015 Program

F&I Trainers Gerry Gould and Fernando Romani discuss Industry Summit's 2015 program (www.industrysummit.com). They also talk about what attendees can expect from their "Actions Speak Louder Than Words" workshop on Wednesday, Sept. 9, at 10:40 a.m.

Tags: F&I manager, F&I products, F&I Tip of the Week, Fernando Romani, Gerry Gould, UDS

August 20, 2015 - Industry News

GWC Warranty Updates Online Dealer Portal

GWC Warranty has added educational video content, digital brochures and historical reporting to its online Dealer Portal, which celebrated its one-year anniversary since its launch.

August 19, 2015 - Industry News

CU Direct to Launch Custom Auto-Loan Risk Score

Designed by FICO, CU Direct Connect’s new auto-loan risk score will help credit unions make more profitable auto-lending decisions. The new feature will be available in 2015’s third quarter.

Tags: Credit Scores, CU Direct Connect, FICO, FICO Score

August 19, 2015 - Industry News

J.D. Byrider Opens New Franchise in Virginia

Used-car sales franchise J.D. Byrider has opened a second dealership in Richmond, Va., the sixth new J.D. Byrider franchise to open in 2015. The company now has 169 locations in 34 states.

Tags: Franchised Dealerships, used car sales, Virginia

August 18, 2015 - Industry News

Gould Bringing ‘F&I Tip of the Week’ to Industry Summit

Gerry Gould, the original host of F&I and Showroom’s F&I Tip of the Week, will cover the online video series’ Top 20 tips during his role-playing session at Industry Summit 2015.

Tags: AFIP, F&I Tip of the Week, Gerry Gould, Industry Summit, Jim Ziegler, NADA, National Automobile Dealers Association, UDS

August 18, 2015 - Industry News

AutoNation Acquires 16 Stores

AutoNation has signed agreements to acquire 13 stores in Georgia, Alabama and Tennessee, and three stores in the Baltimore, Md., market, bringing its total franchise count to 327.

Tags: Acquisition, AutoNation, Franchised Dealerships, Mike Jackson

August 18, 2015 - Industry News

Exeter Finance Names Analytics and Marketing VP

Exeter Finance Corp. has appointed Brian Donohue to the position of executive vice president of analytics and marketing.

Tags: Analytics, Capital One Auto Finance, Exeter Finance Corp., Hiring, Marketing

August 18, 2015 - Industry News

Auto Loan Defaults Rise in July

Consumer credit defaults remained relatively stable in July, according to data from S&P Dow Jones Indices and Experian. The on exception were auto loans, which showed an increase in defaults.

Tags: Auto Loans, Consumer Credit, default rates, Experian, S&P/Experian

August 18, 2015 - Industry News

RouteOne, Santander to Offer eContracting to All Chrysler Dealers

RouteOne and Santander Consumer USA, along with the finance source’s Chrysler Capital program, will make full eContracting capabilities available to all of Santander’s and Chrysler Capital’s dealers by 2016’s second quarter.

Tags: Chrysler, Chrysler Dealers, eContracting, RouteOne, Santander Consumer USA

August 18, 2015 - Industry News

Dealerships Losing 84% of Phone-Ups, IHS Automotive Reports

An analysis by IHS Automotive commissioned by CallSource found that dealers are failing to convert 84% of inbound prospect calls due to a lack of professionalism and inventory knowledge, among other reasons.

Tags: CallSource, how to sell over the phone, IHS Automotive, phone customer

August 12, 2015 - Industry News

Ohio AG Sues Used-Car Dealer for Title Violations

AMG Auto Connection and its owner are accused of violating Ohio’s Certificate of Motor Vehicle Title Act after the dealership failed to deliver a car title in the time frame required by law.

Tags: Attorney General, Compliance, Lawsuit, Mike DeWine, Ohio, Ohio Attorney general, vehicle title

August 12, 2015 - Industry News

LotLinx Appoints Cofounder CEO

LotLinx announced this week appointed company cofounder Denise Chudy CEO, effective immediately.

Tags: automotive retail, leadership, LotLinx, Promotions

August 12, 2015 - Industry News

Experian: Auto Loan Balances Grow at Fastest Rate Since 2006

The total dollar volume for outstanding automotive loan balances grew by $92 million from the second quarter of 2014 to the second quarter of 2015, the largest dollar volume growth since 2006, according to a report from Experian Automotive.

Tags: Auto Loan Delinquency Rate, Auto Loans, Experian, Experian Automotive, Subprime

August 11, 2015 - Industry News

CFPB Says Santander Violated Fair Lending Laws

The CFPB has notified the Department of Justice that Santander Consumer USA’s auto lending practices have allegedly violated fair lending laws, according to a regulatory filing.

Tags: Auto Lending, CFPB, Consumer Financial Protection Bureau, Department of Justice, discrimination, DOJ, rate markup, Santander Consumer USA

August 11, 2015 - Industry News

Auto Loan and Lease Balances Top $1 Trillion, Equifax Reports

The auto finance industry originated nine million auto loans through the first four months of year, totaling $182.9 billion. Equifax said these were the highest levels for this time of year since it began tracking auto finance data.

Tags: auto finance, Auto Loans, banks, captive finance, Equifax, F&I manager, F&I Process

August 11, 2015 - Industry News

Toyota Technician Wins International Company Award

Automotive technician Steve Travis was named to the Toyota 2014 Assembly of Champions, the only technician in the United States to receive the honor.

Tags: Awards, Maintenance, Toyota

August 11, 2015 - Industry News

Auto/Mate Video Focuses on Employee Happiness

Auto/Mate Dealership Systems released a new corporate video reflecting the company’s marketing initiative, which emphasizes employee happiness.

Tags: Auto/Mate, Customer Service, employees, Marketing

August 11, 2015 - Industry News

Compliance, CFPB to Take Center Stage at Industry Summit

Industry Summit 2015 will feature three workshops and two panel discussions that will address the current regulatory climate, provide a review of the current rules and regulations, and provide practical tips on how F&I managers can make compliance work for them.

Tags: Andy Koblenz, CFPB, Compliance, Department of Justice, Industry Summit, NADA

August 11, 2015 - Industry News

Service Group’s F&I Analytics Tool is Patent Pending

F&I income development company Service Group has announced that its SG Forensix analytics tool is now patent pending with the U.S. Patent and Trademark Office.

Tags: Analytics, F&I products, Service Group

August 6, 2015 - Industry News

TrueCar’s Painter to Step Down

TrueCar CEO Scott Painter has announced that he will vacate his post in the wake of second quarter losses of nearly $15 million.

Tags: AutoNation, Quarterly Earnings, Scott Painter, TrueCar