Top News

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May 24, 2017 - Industry News

CDK to Acquire Auto/Mate Dealership Systems

CDK Global has entered into a definitive agreement with Auto/Mate to acquire the technology company, which provides a suite of DMS products and solutions to more than 1,000 new-car dealerships. The transaction is expected to close later this summer.

Tags: Auto/Mate Dealership Systems, CDK Global Inc., Data, DMS, DMS integration, Mike Esposito

May 23, 2017 - Industry News

AIADA: Border Adjustment Tax Will Hurt Dealers, Customers

America’s 9,600 international nameplate dealers reinforced their opposition to a border adjustment tax that say will cost U.S. consumers $34.6 billion or about $2,000 per vehicle.

Tags: AIADA, American International Automobile Dealers Associat, Donald Trump

May 23, 2017 - Industry News

Frost & Sullivan Names AutoGravity Entrepreneurial Company of the Year

The executive team for AutoGravity includes CTO Martin Prescher, CEO Andreas Hinrichs, COO Nicholas Stellman, and COO Serge Vartanov.

The business consulting firm recognized AutoGravity for transforming the automotive finance industry with its 'first-of-its-kind fintech platform.'

Tags: AutoGravity, digital marketing, digital retailing, Online F&I, Third-party leads

May 23, 2017 - Industry News

GoMoto, UpdatePromise Announce Exclusive Partnership

UpdatePromise’s customers will immediately gain access to GoMoto’s kiosk platform as a result of the partnership, while GoMoto’s kiosk customers will be able to incorporate the UpdatePromise consumer experience lifecycle solution.

Tags: brand loyalty, digital marketing, GoMoto, UpdatePromise

May 23, 2017 - Industry News

ADT Announces 2017 Dealers’ Choice Awards Winners

Auto Dealer Today named the winners of the 13th annual Dealers’ Choice Awards.

May 23, 2017 - Industry News

CDK Veteran Dan Crowley Named Senior Field Sales Consultant

Crowley brings more than 20 years of experience in the automotive space, most notably as one of the leading sales managers at CDK.

May 23, 2017 - Industry News

Cars.com Names Jennifer Newman Editor-in-Chief

Newman has served in various roles of increasing responsibility since joining the company nine years ago, most recently as managing editor. She will lead efforts to expand and grow Cars.com's content and innovate the way its packaged and delivered.

Tags: Cars.com, Jennifer Newman, third-party sites

May 22, 2017 - Industry News

CNA National Appoints New Senior Vice President of Customer Service

Trace Thaxton will be responsible for overseeing the company's claims, operations, and reinsurance departments. He previously served as the head of customer care and relations for AGIA Affinity's Scottsdale division.

Tags: claims, CNA National, F&I products

May 22, 2017 - Industry News

Pioneer Launches Five Affordable Multimedia Receivers

A 2016 Toyota Carola shown with the AVH-1300NEX, priced at $400.

The company’s AVH-3300NEX offers a motorized touchscreen display that's seven inches wide and two inches tall, making it an easy installation on older and collectible vehicles. And like the other four models, it offers audiophile-grade sound features, Bluetooth connectivity, and is compatible with Apple CarPlay and Android Auto.

Tags: aftermarket accessories, Infotainment Systems, used-vehicle sales

May 22, 2017 - Industry News

Ford Appoints Jim Hackett CEO

Executive Chairman Bill Ford (right) and Hackett met with employees and members of the press to discuss the appointment.

More than a year after being hired to lead the automaker's ‘Smart Mobility’ innovation unit, Jim Hackett was named Ford’s CEO and president. He replaces Mark Fields, who ends his three-year tenure at the helm of Ford Motor Co.

Tags: Ford Motor Co., Hire, Jim Hackett, Mark Fields, Promotions

May 22, 2017 - Industry News

VW's 3.0L Settlement Approved by Judge

Photo of 2015 Porsche Cayenne diesel courtesy of Volkswagen AG.

Judge Charles R. Breyer of the U.S. District Court for the Northern District of California granted final approval on May 17. The U.S. Environmental Protection Agency and California Air Resources Board have also approved the agreement.

May 22, 2017 - Industry News

Kontos: Wholesale Prices Show Strength Again in April

Average wholesale used-vehicle prices reached $11,141 in April, a 2.2% increase from March and a 2.5% increase from a year ago, Tom Kontos reported. The only three segments registering declines were compact, mid-size, and luxury cars.

Tags: Tom Kontos, used-vehicle sales, Wholesale Values

May 22, 2017 - Industry News

RoadVantage Releases New Series of Point-of-Sale Product Videos

Six months after releasing its first educational F&I product video, the F&I product provider released a new series of point-of-sale product videos dealers can use in their F&I offices and on their websites.

May 22, 2017 - Industry News

Fixed-Ops Specialist Issues Warning

A visit of service departments across the nation revealed that 25% of service lifts are out of compliance with the OSHA’s vehicle lift maintenance and inspection standards. Fixed-ops expert issues a warning and offers four recommendations for maintaining worker safety.

Tags: compliance, fixed operations

May 18, 2017 - Industry News

Former Chase Custom Exec Joins Westlake

The once head of Chase Custom Finance is back. Today, Westlake Financial Services announced it has contracted Bill Jensen to focus on developing its strategic accounts division.

Tags: auto finance, Bill Jensen, Chase Custom, special finance, subprime, Westlake Financial Services

May 18, 2017 - Industry News

KISS Concepts, American Auto Shield Join Forces

KISS Concepts Group's Rod Heasley will head up a new division at American Auto Shield dedicated to the launch of a new customizable VSC program. The union marks American Auto Shield's entrance into the dealer arena after focusing exclusively on direct-to-consumer opportunities.

Tags: American Auto Shield, F&I products, KISS Concepts Group, vehicle service contracts

May 18, 2017 - Industry News

NY Fed: Household Debt Surpasses 2008 Peak in Q1

The feat comes almost nine years after the Great Recession, when household debt reached $12.68 trillion. But the debt and its borrowers look quite different today, the New York Fed noted, and auto finance sources showed signs of tightening in response to some deterioration in auto loan performance.

Tags: auto finance, Delinquencies, Federal Reserve Bank of New York, Originations, Oustanding Auto Loan Balances

May 18, 2017 - Industry News

Jumpstart: Chevy Outduels Ford in April Rankings

Jumpstart Automotive Media reports strong gains among domestic manufacturers in its monthly insights report. It also reveals that Chevrolet passed Ford as the brand with the most shopper interest across the firm's portfolio of automotive publishers.

May 18, 2017 - Industry News

700Credit, FactorTrust Partner to Help Dealers With Underbanked Car Buyers

FactorTrust provides credit data that incorporates verifiable payment histories from transactions such as short-term loans, credit and prepaid card, wireless services and collection agencies. Through 700Credit, dealers will gain access to this information to serve customers with thin credit files or who are underbanked

Tags: 700Credit, auto finance, buy-here, FactorTrust, pay-here, special finance

May 18, 2017 - Industry News

NAE/NWAN CEO Named Finalist for EY Entrepreneur of the Year

If she is named a regional winner on June 22, NAE/NWAN CEO Kelly Price will go to Palm Spring, Calif., this November for the national competition. The 31-year-old awards program is part of the Strategic Growth Forum, a prestigious gathering of high-growth, market-leading companies.

Tags: F&I products, Kelly Price, NAE, National Automotive Experts, NWAN

May 17, 2017 - Industry News

Black Book Reveals Updated ValuEngine Collateral Platform

The next generation of ValuEngine features a new, easy-to-use web interface, according to Black Book. The tool is a real-time collateral valuation tool designed to allow users to value their entire portfolio through a secure, on-demand, self-service platform.

May 17, 2017 - Industry News

GWC Warranty Introduces Revamped Online Dealer Portal

Dealer Portal 2.0 features a new, responsive design and additional functionality and enhancements. The new features are designed to make econtracting GWC Warranty service contracts easier and faster, officials said.

May 16, 2017 - Industry News

Google to Develop Volvo’s Future Infotainment System

The automaker has tapped Google to develop the carmaker’s next-generation in-car infotainment and connectivity solutions, which will be based on the tech company’s Android operating system. The system will launch on new Volvo models within two years.

Tags: Connected Vehicle, Google, Infotainment Systems, Volvo

May 16, 2017 - Industry News

New Study: Generation Gap On Auto Ownership Is as Wide as a Highway

Teens say they're ready for car ownership, while parents disagree. The reason, a new study from American Honda Finance Corp. reveals, will make Baby Boomers shake their heads.

Tags: American Honda Finance, Baby Boomers, Gen Z, Millennials

May 16, 2017 - Industry News

Berman Resigns as President, COO of AutoNation

William “Bill” Berman, who is credited with developing AutoNation's processes for used-vehicle sales and customer care, has resigned. Chairman and CEO Mike Jackson has assumed his duties until a replacement is named.

Tags: AutoNation, Dealer Group, Mike Jackson, Promotions, William Berman