April 24, 2017 - Industry News
Promising a ‘transparent and real-time’ tool, TrueCar Trade will launch as a six-month pilot program in partnership with R. Hollenshead Auto Sales and Galves Market Data.
April 19, 2017 - Industry News
KAR Auction Services will acquire the company that operates as DRIVN for $43 million. The company was founded in 2015 as CarCo Technologies by Groupon cofounders Brad Keywell and Eric Lefkofsky.
Tags: data, DRIVIN, Kar Auction Services
Compared with 2016, 11% more Gen Z consumers and 9% more Pre-Boomers say they “definitely would not” trust automated technology, according to the firm’s 2017 U.S. Tech Choice Study.
Tags: Autonomous Driving, Connected Vehicle, J.D. Power, U.S. Tech Choice Study
Employer Support of the Guard and Reserve honored two Alpha Warranty Services managers with the Patriot Award, which recognizes civilian supervisors who support service member employees, their families, and their military commitments.
Tags: Alpha Warranty Services
High demand for pre-owned vehicles resulted in increased values, with 13 out of the 22 vehicle segments registering increases in average value, the firm reported.
Tags: Black Book, used-vehicle values, vehicle depreciation
A new white paper from F&I Express proposes an automated solution to issues inherent to the F&I product cancelation process.
Voting for the 2017 Dealers’ Choice Awards ends at midnight. Dealers and dealership personnel are encouraged to recognize their favorite third-party service providers and auto finance sources by participating in an online survey.
April 18, 2017 - Industry News
The new, dual-branded, 35,000-square-foot dealership in Freeport, N.Y., is among the first in the U.S. to adopt the company’s new global ARCH retail standards.
Uber today launched a new business program dealers can use to order rides for service customers. The new offering is the ride-hailing firm’s first one-to-many ride product.
The 1.6% rebound from February’s unexpected 1.4% drop wasn’t quite as big as the firm anticipated, but the lift was in line with the period’s 2.3% average over the previous three years.
Cox Automotive has named Realtor.com’s Jonathan Smoke as chief economist and created an economic industry insights office.
The new vehicle service contract offering follows a redefinition of CNA’s vehicle classing system preceded by a thorough rate review. The new offering includes coverage for rideshare vehicles titled to private individuals.
Tags: CNA National, F&I products, vehicle service contracts, Z2 Series
Voting for the 13th annual Dealers’ Choice Awards ends tomorrow. Dealers and dealership personnel, including F&I professionals, are encouraged to recognize their favorite third-party service providers and auto finance sources by participating in an online survey.
April 17, 2017 - Industry News
A new report finds dealerships put other businesses to shame when it comes to lead follow-up, but there is room for improvement.
Since registering a score of 125.9 in May 2015, the firm’s Used Vehicle Retention Index has fallen steadily. Last year, it dropped by 6.4%. In March, the index fell from February's 113.9 to 113.
Tags: Black Book, depreciation, Used Vehicle Value Index, used-vehicle values
According to the trade group’s NADA Data 2016 report, dealership employees had one of the highest average salaries of any industry.
Tags: employment, F&I, fixed operations, NADA Data Report, National Automobile Dealers Association, new-vehicle sales, used-vehicle sales
April 12, 2017 - Industry News
David Neuenschwander was promoted from vice president to president after becoming an equity partner of both companies. He succeeds Kelly Price, who will now serve as CEO.
Tags: F&I products, Kelly Price, NAE, NWAN
The results of a survey of 400 dealers at the NADA convention indicate many dealers are overestimating customer trust, their sales team’s product knowledge, and the need to offer discounts.
The automaker has appointed Cian O'Brien to head sales in the United States as executive vice president and COO.
Tags: Audi, Cian O'Brien
Despite rising incentives and an increase in the number of lease returns to dealerships, auto dealers continue to push lease deals. And according to the online lease marketplace, approval rates have hovered above 70% for two straight months so far in 2017.
Tags: Lease, Swapalease.com
The startup added a title concierge service to help dealers secure titles on vehicles purchased through its automotive exchange. The firm also added an account lookup feature so users can track all money movement between sellers and buyers.
Tags: inventory management, online auction, TradeRev
The German automaker recently announced it will offer a six-year or 72,000-mile warranty on its Atlas mid-size SUV and Tiguan compact SUV for the 2018 model year. The upgraded warranty marks a significant upgrade from the 2017 Tiguan.
Tags: F&I products, vehicle service contracts, vehicle warranties, Volkswagen
April 11, 2017 - Industry News
The market research firm found that older customers prize complimentary snacks and beverages as well as newspapers and magazines, while members of Generation X and Y want wireless internet access.
Subaru, Lexus and Ford take top honors with the highest average scores among all 12 brand watch factors. The awards are based on consumer automotive perception data from Kelley Blue Book Strategic Insights' Brand Watch study.
The F&I product provider named Sally Freeman vice president of agency experience. She joins the company in the midst of an ongoing campaign to add more agents to its roster.
Tags: EasyCare, F&I products, general agents, Sally Freeman
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