February 7, 2018 - Industry News
The firm had expected a steeper decline due to replacement activity linked to last year’s hurricanes. Instead, Black Book saw fairly typical depreciation.
Tags: Black Book, Hurricane Harvey, Hurricane Irma, used-vehicle values, vehicle depreciation
The beginning of tax season saw stronger sales at auction, especially for mainstream car segments. Mid-size cars led the way in terms of value retention in the car segment, while minivans, full-size vans and small pickups saw no change last week.
Tags: Black Book, tax season, used-vehicle values, vehicle depreciation
Rapid Proactive Messaging is a new system designed to allow dealership sales associates to connect and communicate directly with interested customers from their mobile phones.
February 6, 2018 - Industry News
Tesla’s ‘Autopilot’ setting has once again drawn interest from regulators after a Model S plowed into a parked firetruck.
International nameplates outpaced the competition in U.S. new-vehicle sales last month, accounting for 57.4% of all transactions.
Data collected by Kelley Blue Book and Dealer.com shows which factories and brands benefited from their significant investments in Super Bowl airtime.
February 5, 2018 - Industry News
DealerFenix is a new system designed to improve process adherence and consistency, eliminate repetitive tasks, and automate activities.
February 1, 2018 - Industry News
Dr. Ed White, who co-founded White Clark Group in 1992, was awarded the International Auto Finance Network’s Technology Hall of Fame award for his contributions to the industry.
Tags: auto finance, Fintech, technology, White Clarke Group
The average transaction price for a new light vehicle sold in the U.S. was $36,270, down slightly from December but up 3.9% from the year-ago period.
According to the company, certain dealers who are parties to the Genesis Participation Agreement (GPA) and operate in “defined key markets” will be given first opportunity to apply for the Genesis franchise.
Tags: Dealer Network, facility upgrades, Genesis, Hyundai
January 31, 2018 - Industry News
On Wednesday, the D.C. Court of Appeals ruled 7-3 that a provision in the Dodd-Frank Act that says the CFPB director can only be removed for cause does not unconstitutionally constrain the president.
Tags: CFPB, compliance, Leandra English, Mick Mulvaney
Prodigy’s full-stack automotive retail sales solution enters a new phase after earning $5.4 million in seed funding from a group of venture capitalists led by 8VC, Battery Ventures, SV Angel and CrunchFund.
Nissan Motor Acceptance Corp. became the latest captive to join AutoGravity’s digital marketplace. The captive's financing options are currently available on the firm's mobile app in California and will be available nationwide in mid-2018.
Tags: AutoGravity, digital retailing, mobile app, online F&I, showroom
January 30, 2018 - Industry News
Autotrader has listed the top 10 certified pre-owned models for new-car buyers on a budget.
The two partners, Lucy Morris and Ryan Stinneford, join 12 other Hudson Cook attorneys who have been named ACCFSL fellows.
Tags: auto finance, compliance, Hudson Cook LLP, Lucy Morris, Ryan Stinneford
The announced promotions are aimed at fortifying the company's compliance capabilities to deliver the next generation of integrated compliance products and services, officials said.
Changing oil and oil filters, replacing wiper blades and air filters, and scheduled maintenance top the Car Care Council’s list of most common repairs. The list was developed using research from market research firm IMR Inc.
Tags: Car Care Council, IMR Inc., parts and service, Prepaid Maintenance, Vehicle Maintenance
As part of its announcement, the F&I product provider revealed several key executive promotions, including the appointment of Jon A. Anderson as president and COO.
Tags: agents, American Guardian Warranty Services, Compass Auto VSC, F&I products, Jon Anderson, vehicle service contracts
January 29, 2018 - Industry News
Only 16% of the 1,500 dealerships mystery-shopped by Digital Air Strike responded to internet leads within 15 minutes and 18% didn’t respond at all. Those are just some of the findings in the social media firm’s first Mystery Shop Study.
Tags: Digital Air Strike, digital marketing, Facebook, Internet Leads, social media
The online retailer will introduce a series of enhancements designed to deliver higher quality leads to auto dealers and add transparency and speed to the customer experience.
Tags: Autotrader, digital marketing, digital retailing, online F&I, showroom, Third-party leads
January 25, 2018 - Industry News
The purchaser and service of vehicle loan portfolios said it has been retained by an unnamed, multinational investment firm to source $50 million worth of subprime auto loan portfolios.
Tags: auto finance, Innovate Auto Finance, subprime
The approval settles the FTC's December 2017 complaint against Dallas-based Cowboy Toyota regarding its Spanish-language newspaper ads. The regulator charged the dealership with violations of the FTC Act, TILA and the Consumer Leasing Act.
Tags: auto finance, compliance, Cowboy Toyota, Deceptive Advertising, Federal Trade Commission, leasing
For its new Total Ownership Experience Awards, J.D. Power looked at results from its five iconic automotive studies to determine which automakers do the best job overall of satisfying customers through the different stages of vehicle ownership.
Tags: Buick, CSI, Customer Service Index, J.D. Power, Porsche, sales satisfaction, Total Ownership Experience Awards, Vehicle Dependability
January 24, 2018 - Industry News
iA Financial Group has completed its acquisition of the third-party administrator and its insurance arm, Dealers Assurance Co. Both companies will now operate as fully owned subsidiaries of iA.
Tags: Dealers Assurance Company, F&I products, iA Financial Group, Mergers and Acquisitions, reinsurance, SouthwestRe
Ally Financial said it will make up to $750 million available to DriveTime for the purchase of retail contracts over the coming year.
Tags: Ally Financial, auto finance, DriveTime, used vehicles
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