March 30, 2017 - Industry News
Tom Webb will retire on June 30, ending a more than four-decade career. Cox Automotive officials said a replacement will be named in the coming weeks.
Tags: Cox Automotive, Manheim, Manheim Index, Manheim Used Vehicle Report, NADA, used-vehicle values
The 20-year company veteran previously led the Wells Fargo Insurance business. She succeeds Dawn Martin Harp, who announced her retirement on Jan. 10.
A letter written by a West Philadelphia teen about her family’s struggles to care for her sister, who suffers from multiple medical issues, prompts the F&I product provider, its agent and dealer to donate transportation and more.
Tags: Alpha Warranty Services, charity giving, vehicle service contract
March 29, 2017 - Industry News
Santander Consumer USA will pay $26 million to settle charges brought by the attorneys general of Delaware and Massachusetts.
The special finance company, which counts the cofounder and former COO of Exeter Finance in its executive ranks, will use the funding to launch a new and pre-owned auto leasing program this year.
Tags: auto finance, leasing, MUSA, special finance, Used Leasing
Autotrader and Dealer.com websites recorded increases in search share for Acura, Alfa Romeo, Buick and Infiniti, each of which ran national ads during the first weekend of the NCAA men’s basketball tournament.
Tags: advertising, Autotrader, Cox Automotive, Dealer.com, digital marketing
March 28, 2017 - Industry News
Reggie Ponsford was promoted to help drive further growth for the telematics solutions provider in the buy-here, pay-here, automotive retail, rental automotive, powersports and auto finance markets.
Tags: Connected Vehicle, F&I manager, F&I products, Spireon, telematics
Scott McKenzie and Fred Mather have joined the executive team at automotiveMastermind.
The latest edition of Jumpstart Automotive Media’s annual Insights Book sheds new light on the evolving car-shopping path.
Both cars and trucks realized a healthy seasonal boost in wholesale performance last week, with both segments retaining their values better than they have in the past six months.
Tags: Black Book, Used-Car Sales, used-vehicle prices, wholesale values
March 27, 2017 - Industry News
The vehicle valuation site said the industry should sell 1.63 million units in March, which would bring first quarter sales to 4.1 million units. That would be the second highest first quarter sales tally on record.
March 23, 2017 - Industry News
Clarivoy has launched a survey of auto dealers to support a study on auto retail marketing investments.
defi SOLUTIONS's loan origination system is now certified for econtracting with RouteOne. Finance sources utilizing defi’s LOS will now benefit from a streamlined econtracting implementation process.
Tags: defi SOLUTIONS, econtracting, Fintech, Loan Origination System, RouteOne
Dealers, agents, product providers, marketers and manufacturers can submit entries by April 28.
The Department of Consumer Affairs (DCA) has filed charges against Queens-based Major World and its three used-vehicle dealerships for allegedly employing deceptive financing and sales practices that targeted low-income and immigrant consumers.
Tags: Deceptive Advertising, Department of Consumer Affairs, fraud, Major World, powerbooking
The Consumer Financial Protection Bureau took action against Experian and its subsidiaries for falsely claiming in advertisements that credit scores it offers and provides to consumers are used by finance sources to make credit decisions.
March 22, 2017 - Industry News
February provided “further concrete evidence of softening” of used-vehicle prices, ADESA's Tom Kontos wrote in his monthly Kontos Kommentary.
Tags: ADESA Analytical Services, Tom Kontos, used-vehicle prices, Wholesale Pricing
This week’s Black Book Market Insights report shows the car segment retaining its value better than the truck segment as a whole. However, compact vans saw their values strengthen by 1.17%, outperforming all other vehicle segments.
Tags: Black Book, used-vehicle values, vehicle depreciation, wholesale values
KAR Auction Services extended $15 million in credit to TradeRev, the digital auction platform in which KAR acquired a 50% stake in 2014.
Tags: Auto Auctions, Kar Auction Services, TradeRev
Dealers and dealership personnel are invited to recognize their favorite vendors, service providers and finance partners in the 13th annual Dealers’ Choice Awards.
March 21, 2017 - Industry News
In an amicus brief filed last Friday, the Justice Department called on the D.C. Circuit Court to uphold the appellate court's 2-1 ruling in a New Jersey-based mortgage company's closely-watched challenge of the CFPB's authority. The agency says it agrees with the court's unconstitutional ruling and 'at-will' remedy.
Jeff Snowden’s 25-year career as a technician, advocate and executive in the paintless dent repair industry was recognized at the 2017 International Mobile Tech Expo.
Tags: Dent Zone, F&I products, paintless dent removal
RoadVantage has expanded its sales team with the addition of industry veteran Aaron Riddle.
Motor Vehicle Software Corp.’s Vitu platform has been named the Oregon Auto Dealers Association’s preferred provider of electronic vehicle registration and titling services.
Tags: electronic lien and titles, Electronic Registration, Motor Vehicle Software Corp.
A new report from J.D. Power finds owners of the Tesla Model S and Model X have acknowledged numerous quality issues but show no signs of disloyalty.
Tags: Electric Vehicles, Model S, Model X, Tesla Motors
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