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May 26, 2015 - Industry News

Exeter Finance Appoints New CFO

Exeter Finance Corp. has appointed financial industry veteran Paige H. Wisdom to CFO for the organization, effective June 8.

Tags: Exeter Finance Corp., Hiring

May 26, 2015 - Industry News

Android Auto Arrives for 2015 Hyundai Sonata

Hyundai has begun offering Android Auto on its 2015 Hyundai Sonata, making it the first automaker to implement the software platform that closely matches one running on smartphones.

Tags: Android, Google, Hyundai, Infotainment Systems, smartphones

May 26, 2015 - Industry News

Disparate Impact Ruling Expected This Week

A case debating a legal theory used by the Consumer Financial Protection Bureau to go after auto finance sources for perceived discrimination in dealer markup is expected to be ruled on this week by the U.S Supreme Court.

Tags: CFPB, Consumer Financial Protection Bureau, Disparate Impact, ruling

May 26, 2015 - Industry News

Larry H. Miller Dealerships Introduces Online Buying Experience

The dealer group will now allow customers to select and reserve vehicles online, accelerating the car-buying experience. The new service is initially launching in select stores, but will be available at every location by late summer.

Tags: Larry H. Miller Dealerships, Online Buying, online shoppers

May 26, 2015 - Industry News

Portfolio Repeats Top Diamond Ranking in Dealers’ Choice Awards

Portfolio has again been ranked as the top Diamond provider in the Vehicle Service Contracts – Reinsurance category in the annual Dealers’ Choice Awards.

Tags: Auto Dealer Monthly, Dealers' Choice Awards, Portfolio Group, Reinsurance

May 21, 2015 - Industry News

TrueCar Denies Claims in CNCDA Lawsuit

The California New Car Dealers Association filed a lawsuit against TrueCar last Wednesday, alleging the that the shopping site is not in compliance with certain sections of the California Vehicle Code — a claim TrueCar has denied.

Tags: Bellavia Blatt, California New Car Dealers Association, CNCDA, Lawsuit, TrueCar

May 20, 2015 - Industry News

DealerSocket Releases Memorial Day Recommendations

Based on data from 2014's Memorial Day weekend, DealerSocket recommends that dealers focus on phone leads and used vehicles during the upcoming holiday.

Tags: DealerSocket, Memorial Day sales, Study

May 20, 2015 - Industry News

CornerStone United Launches eContracting on F&I Express

CornerStone United joins more than 90 aftermarket F&I product providers in the F&I Express network.

Tags: Aftermarket Products, eContracting, F&I Express, F&I Products

May 20, 2015 - Industry News

Black Book Identifies Drivers of Stretching Loan Terms

There’s a reason captives like Ally and Chrysler Capital have expanded their appetite for longer term loans. And according to a new white paper from Black Book, it’s not just about keeping loan payments below that $400 consumer sweet spot.

Tags: Auto Loan Terms, Auto Loans, Black Book, J.D. Power and Associates, Vehicle Sales

May 20, 2015 - Industry News

CNCDA Files Suit Against TrueCar

The California New Car Dealers Association filed a lawsuit Wednesday against TrueCar, alleging that the shopping site is not in compliance with certain sections of the California Vehicle Code.

Tags: California New Car Dealers Association, CNCDA, Lawsuit, TrueCar

May 19, 2015 - Industry News

Subprime Loan Percentage Falls to Lowest Level in Three Years

In the first quarter of 2015, the percentage of automotive loans that fell within the subprime and deep subprime risk categories made up 19.7% of the market, the lowest share since 2012, according to Experian Automotive.

Tags: deep subprime, Experian, Experian Automotive, First Quarter, Melinda Zabritski, Subprime

May 19, 2015 - Industry News

CNA National Voted Top Provider for 11th Year in a Row

CNA National has received the Diamond Award for Best Service Contract Provider as well as the Platinum Award for Best Reinsurance Provider in Auto Dealer Monthly’s 2015 Dealers’ Choice Awards.

Tags: Auto Dealer Monthly, CNA National, Dealers' Choice Awards, Industry Summit, Reinsurance

May 19, 2015 - Industry News

Auto/Mate Receives Platinum Dealers' Choice Award

Auto/Mate Dealership Systems has received a Platinum award in the 2015 Auto Dealer Monthly Dealers' Choice Awards, marking the second time the company has received a top ranking in the publication's annual award program.

Tags: Auto Dealer Monthly, Auto/Mate, Dealers' Choice Awards, DMS, Industry Summit

May 19, 2015 - Industry News

Manheim Reschedules Make-A-Wish Car Show

Manheim Louisville has rescheduled its Cruisin’ for Wishes car show and fundraiser for June 13, after the event was rained out on May 16.

Tags: charity giving, Manheim, used cars

May 14, 2015 - Industry News

Edmunds Updates App with Messaging Platform

Edmunds.com updated its mobile app with a new feature that allows shoppers to send text messages to dealers.

Tags: Edmunds.com, mobile app, texting

May 13, 2015 - Industry News

Autosoft Certifies MaximTrak F&I Platform

MaximTrack Technologies’ F&I suite has completed Autosoft’s certification process and now integrates with the tech firm’s FLEX DMS.

Tags: dealership management system, F&I manager, F&I menu, F&I office, F&I Products, F&I tools

May 13, 2015 - Industry News

Western Funding Launches New Program for Dealers

Western Funding has announced its Triple Pay program, which allows dealers to build a bankable portfolio and receive three different types of payments on the same deal — upfront checks, near portfolio closing and back-end payment streams.

Tags: Subprime, Western Funding Inc.

May 13, 2015 - Industry News

ADM Names 2015 Dealers’ Choice Award Winners

F&I and Showroom's sister publication has announced the winners of the 11th annual Dealers’ Choice Awards. Voted on by dealers, the program recognizes the industry’s best product and service providers.

Tags: David Gesualdo, Dealers' Choice Awards, Industry Summit

May 12, 2015 - Industry News

SureCritic Adds Former SOCIALDEALER President

Phil Penton, former partner and president at SOCIALDEALER, will lead SureCritic’s business development activities and strategic alliances.

Tags: Social Media, SOCIALDEALER, SureCritic

May 12, 2015 - Industry News

Texas DMV Closes Case Against CarGurus

The enforcement division of the Texas DMV has closed its case against CarGurus after the vehicle-shopping site made revisions to its used-car advertisements. In April, the department threatened enforcement actions because of the way the site listed used vehicles for sale.

Tags: Advertising, CarGurus, DMV, online marketing, Texas, Used Vehicles

May 12, 2015 - Industry News

April Vehicle Sales Paced at 16.5 Million-Unit SAAR

Total new-vehicle sales in April increased 0.6% compared with a year ago to 1.45 million units sold, according to Autodata Corp. April’s SAAR was 16.5 million units.

Tags: April, monthly sales, SAAR

May 12, 2015 - Industry News

Manheim Names General Manager of Nevada Business

Manheim has promoted Eddie Lafferty to general manager of Manheim Nevada.

Tags: Manheim, Manheim Nevada, Promotions

May 7, 2015 - Industry News

AmTrust to Acquire Wells Fargo’s Warranty Solutions

AmTrust announced last week that it has entered into a definite agreement to purchase Wells Fargo’s Warranty Solutions, which the bank acquired in October 2008 with its purchase of Wachovia Corp.

Tags: Acquisition, AmTrust, F&I Products, Wachovia Dealer Services, Wells Fargo

May 6, 2015 - Industry News

Autos On Video Selects Flick Fusion As Hosting And Integration Partner

The provider of video walk-around technology has tabbed Flick Fusion’s video marketing platform to host its videos. Auto On Video officials said the connection will provide users with enhanced video content, marketing and distribution features.

May 6, 2015 - Industry News

AppOne Update Eases Compliance Burden for BHPH Dealers

Wolters Kluwer’s new update allows its AppOne platform to accommodate multiple payment frequencies, helping to further streamline the loan origination process for buy-here, pay-here dealers.