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November 17, 2016 - Industry News

Regulatory Insiders: Repeal of Dodd-Frank Possible But Unlikely

Regulatory insiders say there are two ways the Trump administration can deliver on its promise to dismantle the Dodd-Frank. But neither scenario has a high probability of success, they say.

Tags: Consumer Financial Protection Bureau, Dodd-Frank Act, NADA, Regulations

November 17, 2016 - Industry News

RoadVantage Unveils F&I Video to Support Online F&I Strategies

According to the company, the two-minute video was developed in response to recent industry studies showing that consumers would be more willing to purchase F&I protections if they are allowed to learn about them before entering the dealership.

Tags: Dealership, F&I, RoadVantage, Videos

November 17, 2016 - Industry News

Chase Auto Finance Names New CEO

Mark O’Donovan was named CEO of Chase Auto Finance, the finance source announced today. He replaces Thasunda Duckett, who was named CEO of the finance source's consumer banking unit last month.

Tags: Chase, Chase Auto Finance, Promotion

November 17, 2016 - Industry News

Car and Driver Announces '10Best Cars' List for 2017

Car and Driver released its annual “10Best Cars” list for 2017. This list, the company stated, recognizes the best cars on the market for under $80,000.

Tags: 2017, Awards, New Vehicles

November 17, 2016 - Industry News

NextGear Capital Presents Fourth Annual Auction Partners Awards

NextGear Capital presented its fourth annual Auction Partners Awards Wednesday at the Red Rock Casino and Resort in Las Vegas, the site of the 2016 National Automobile Auction Association (NAAA) Convention.

Tags: Auto Auctions, Awards, NextGear Capital

November 16, 2016 - Industry News

NADAUCG: Wholesale Depreciation Remains Steady in October

October’s 3.6% decline in wholesale prices for used vehicles eight years in age was in line with the NADA Used Car Guide’s forecasted range of 3.2% to 3.7%. However, the decline was slightly more than this October than the previous three-year average decline of 3.3% for the period.

Tags: NADA Used Car Guide, used-vehicle values, Wholesale Pricing, wholesale used average

November 16, 2016 - Industry News

Kontos: Wholesale Prices Up Year Over Year, Down From September

As has been the case for much of the year, average wholesale used-car prices were down on a year-over-year basis. In October, the average wholesale used-vehicle price fell by 1.2% compared to the year before. Trucks, on the other hand, continued to realize year-over-year increases in wholesale prices. Compared to last year, truck prices are up 5.1%.

Tags: ADESA, ADESA Analytical Services, Tom Kontos, used vehicles, Wholesale Pricing

November 16, 2016 - Industry News

LotPop Announces Release of LotScore

According to the company, the weekly report will score a dealer’s inventory in four key areas: status, marketing, inventory stocking, and inventory return on investment. The end goal, the company added, is to help drive more used-car sales at higher margins.

Tags: Dealer Inventory, LotPop, LotScore, used vehicles

November 16, 2016 - Industry News

IntelliChoice Names Kia's CPO Program 'Best Popular Program'

For the second year in a row, IntelliChoice has named Kia Motors America’s certified pre-owned program the 'Best Popular Program.'

Tags: Award, CPO, Kia, used vehicles

November 15, 2016 - Industry News

NADA: New Administration Could Push Sales Above 2017 Forecast of 17.1M

The NADA’s chief economist said the industry will sell 17.1 million new units in 2017. That forecast could rise by the end of February — that's if the the new administration delivers on its stated policy objectives.

Tags: 2017, NADA, new-vehicle sales, SAAR

November 15, 2016 - Industry News

KBB Announces 2017 Best Buy Awards

Kelley Blue Book announced the winners of its 2017 Best Buy Awards. The big winner was Honda. Not only did it take home four awards, its 2017 Honda Civic was named the Overall Best Buy of 2017.

Tags: Audi, Awards, Best Buy, Chevrolet, Chrysler, Ford, Honda, KBB, Kia, Mercedes-Benz, Porsche, Toyota

November 15, 2016 - Industry News

ADESA Acquires Michigan's Flint Auto Auction

KAR Auction Services today announced it has acquired Flint Auto Auction, a whole car auction facility in Flint, Mich. It will now operate as ADESA Flint.

Tags: ADESA, Auto Auction, Kar Auction Services

November 15, 2016 - Industry News

Black Book: Car and Truck Depreciation Slowing

Volume weighted, overall car segment values decreased by 0.46% the week of Nov. 4, which was lower than the 0.7% depreciation rate recorded during the four weeks prior. For the truck segment, values decreased by 0.34%, slightly lower than the 0.58% rate recorded during the previous four weeks.

Tags: Black Book, Cars, depreciation, Trucks, Wholesale Pricing

November 14, 2016 - Industry News

Zachary Hughes Joins American Guardian’s Central Atlantic Sales Team

Hughes joins the F&I product provider’s field team as assistant vice president of sales for the central Atlantic states, which includes Ohio, Tennessee, South Carolina, and Virginia.

Tags: American Guardian Warranty Services, F&I product provider, F&I products

November 14, 2016 - Industry News

ADESA Kansas City Gets New General Manager

ADESA has promoted Kevin Rhoads, a 15-year veteran of the automotive industry, to general manager of its Kansas City auction location, the company announced this week.

Tags: ADESA, Auto Auctions, General Manager, Hiring

November 14, 2016 - Industry News

Fidelis PPM, MaximTrak Announce Integration

This integration enables F&I departments using MaximTrak to deliver e-contracting functions between the technology firm's F&I platform and Fidelis' prepaid maintenance software, providing dealerships with a paperless solution for presenting, validating, and registering Fidelis products.

Tags: CU Direct, F&I products, Fidelis PPM, Jim Maxim, Jr., MaximTrak, Prepaid Maintenance

November 14, 2016 - Industry News

Ex-Cox Automotive Executive Joins National Credit Center

Sackett National Holdings Inc., a provider of lending data, energy, employment screening and automotive products and services, has announced the appointment of Robert Granados as president of its automotive subsidiary, National Credit Center (NCC).

Tags: Hiring, National Credit Center, Sackett National Holdings

November 14, 2016 - Industry News

izmocars to Showcase Virtual Reality Platform at Automobility LA

izmocars will showcase its newest virtual reality offering in the Tech Pavilion at this week's AutoMobility LA. Dealers will be able to use izmoVR in the showroom and service wait room. They can also make it available as a download from their dealership's website.

Tags: AutoMobility LA, izmocars, technology, Virtual Reality, Virtual Showroom

November 14, 2016 - Industry News

KAR Launches New Enterprise Functions to 'Accelerate Innovation' for Wholesale Industry

KAR Auction Services Inc. announced the creation of new enterprise functions and leadership roles in product development, data analytics and strategy. The company has both promoted from within and recruited from outside sources to fill these new positions.

Tags: ADESA, Hiring, Kar Auction Services, Promotions

November 10, 2016 - Industry News

South Dakota Voters Approve 36% APR Cap on Short-Term Loans

South Dakota voters approved an initiated measure aimed at capping interest rates on short-term loans in the state. Included in the cap are all charges for ancillary products and any other fees included in the extension of credit.

Tags: APR, Auto Title Loans, F&I office, Payday Lending, South Dakota

November 10, 2016 - Industry News

Clarivoy Adds Native Integration With Google Adwords

Clarivoy this week announced the native integration of its Multi-Touch Sales Attribution solution into Google Adwords, allowing dealers to optimize their AdWords campaigns based on actual sales data.

Tags: Clarivoy, digital marketing, Google AdWords, marketing

November 10, 2016 - Industry News

Affinitiv Rolls Out New Version of Service Scheduling Solution

Affinitiv announced the rollout of its upgraded V6.0 service scheduling solution this week. According to the company, the new version features increased flexibility and customization to help dealers drive even more revenue to their service departments.

Tags: Affinitiv, Dealership Systems, technology

November 10, 2016 - Industry News

ACV Auctions' New Hire to Help Grow Mobile-Enabled Live Auctions

ACV Auctions named Michael Waterman vice president of sales. He will be charged with helping the company grow its mobile-enabled live auctions.

Tags: ACV Auctions, Auto Auctions, Mobile Applications, Vice President

November 10, 2016 - Industry News

FTC Approves Final Changes to Used Car Rule

The Federal Trade Commission announced last week final amendments to its Used Car Rule. It noted that its amended rule permits dealers to use their remaining stock of Buyers Guides for one year after the effective date of the amended rule.

Tags: Buyers Guide, FTC, Used Car Rule

November 9, 2016 - Industry News

Asbury: F&I Experiences "Small Setback" in Q3

Asbury Automotive COO David Hult called the group's F&I performance in the third quarter a "small setback" compared to previous quarters, noting that he remains hopeful for the coming quarter.

Tags: Asbury Automotive, F&I, Quarterly Earnings, Third Quarter