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June 8, 2017 - Industry News

Galpin Becomes Exclusive Kia Outlet for California’s San Fernando Valley

The dealership officially opened its doors in October 2016. It’s currently housed in a temporary facility while its permanent showroom is being built.

Tags: Galpin Motors, Kia Motors America

June 7, 2017 - Industry News

Dominion Integrates Autobase CRM With DealActivator Equity Mining

Dominion Dealer Solutions announced the integration its Autobase CRM with its award-winning DealActivator equity-mining tool. Photo courtesy Dominion Dealer Solutions

The integration was designed to provide auto dealers with real-time updates seamlessly in both Autobase’s CRM and DealActivator’s award-winning equity mining tool.

June 7, 2017 - Industry News

Subprime Auto Originations Fall to 10-Year Low

Reflecting the shift toward more creditworthy borrowers was the rise in average credit scores for both new- and used-vehicle loans. But the retreat from the high-risk tiers also comes during a quarter in which the average new-vehicle finance amount and monthly payment reached record highs.

Tags: 30-day delinquency rate, auto finance, average term, deep subprime, Monthly Payments, subprime, transaction prices

June 7, 2017 - Industry News

Crisorio, Kamal to Chair 2017 Compliance Summit

UDS’s Brian Crisorio and Auto Dealer Today’s Tariq Kamal will serve as co-show chairs for this year’s Compliance Summit.

Tags: auto finance, compliance, Compliance Summit, F&I manager, F&I office, Industry Summit

June 7, 2017 - Industry News

FIDOY Nomination Period Opens, New Sponsor Announced

American Financial & Automotive Services is sponsoring F&I and Showroom’s annual F&I Dealer of the Year contest, which is now accepting nominations. The deadline to nominate a deserving dealership is July 10.

Tags: American Financial & Automotive Services, F&I Dealer of the Year, F&I office, F&I Pacesetters, F&I profit per vehicle retailed

June 7, 2017 - Industry News

EFG Companies Launches Virtual F&I Service

The F&I product provider rolled out a new virtual F&I model aimed at powersports and independent dealers, but the executive overseeing the service offered several scenarios in which Simplicity Finance and Insurance can help franchised dealers.

Tags: EFG Companies, F&I process, F&I products, virtual F&I office

June 7, 2017 - Industry News

American Financial Receives Multiple Dealers’ Choice Awards

American Financial & Automotive Services earned awards in five categories in the 2017 Dealers’ Choice Awards.

June 7, 2017 - Industry News

FrogData Hires Renowned Automotive Consultant

David Shear previously served as an independent training consultant, leading a team of 15 facilitators delivering training to 510 Nissan dealerships.

June 7, 2017 - Industry News

Manheim Index Hits Record High

With wholesale used-vehicle prices rising in May, the Manheim Used Vehicle Value Index rose to a record 127.9. The firm noted that dealers purchased the most vehicles at Manheim auctions for the month of May since 2008.

Tags: Manheim Index, new-vehicle sales, Showroom, used-vehicle values, Wholesale Pricing

June 7, 2017 - Industry News

Dent Wizard Names Director of Operations for Canadian Market

Matt Boyd, who has served in various roles since joining Dent Wizard International in 2005, was promoted to director of operations for the company’s Canadian market.

Tags: Canada, Dent Wizard, F&I products, paintless dent removal

June 6, 2017 - Industry News

CUDL: Subprime Pullback Opens Door for Credit Unions

With banks retreating from all risk tiers, an executive with CU Direct Lending said the auto finance market is primed for credit unions to pick up more share. In the first quarter, credit unions grew their share of the market by 4%.

Tags: auto finance, credit unions, CU Direct, special finance, subprime, used-vehicle financing

June 6, 2017 - Industry News

JM Family Promotes Brown, Burns

Chief Executive Officer Colin Brown will add board chairman duties while Brent Burns takes on president and COO duties.

June 6, 2017 - Industry News

MaximTrak Wins Third Straight Dealers’ Choice Award

MaximTrak Technologies was recognized in the F&I Technology category for the third consecutive year.

June 6, 2017 - Industry News

Securethics Launches Communication and Conflict Management Training Program

The new program was designed to reduce auto dealership turnover by at least 5% in 12 months.

June 5, 2017 - Industry News

UDS Earns Top Honors in Dealers’ Choice Awards

The income development company earned a Diamond award in F&I Training and Platinum in the Compliance Training category of Auto Dealer Today’s 2017 Dealers’ Choice Awards, which are voted on by dealers and dealership personnel.

Tags: Auto Dealer Today, compliance, Dealers' Choice Awards, F&I training, UDS

June 5, 2017 - Industry News

Protective Earns Platinum in Dealers’ Choice Award

This year's honor marks four consecutive years the F&I product provider has earned Platinum in the Vehicle Service Contract category of Auto Dealer Today's Dealers' Choice Awards.

Tags: F&I manager, F&I office, F&I products, Protective Asset Protection Division

June 5, 2017 - Industry News

Edmunds: Down Payments Reach Record Levels in May

Car buyers are putting down $504 more on a new-vehicle purchase than they did five years ago. But with buyers purchasing pricier cars and interest rates on the rise, something has to give, Edmunds.com analysis said.

Tags: auto finance, down payment, Edmunds, interest rates

June 5, 2017 - Industry News

Cars.com Completes Spin-off From TEGNA

The online retailer announced its first board of directors and began trading on the NYSE on June 1 as "CARS."

June 5, 2017 - Industry News

Kerrigan: Buy/Sell Activity Remains Robust in Q1

Despite slowing auto sales and a slight dip in blue sky values, dealership buy/sell activity remained robust in the first quarter, according to the buy/sell advisory firm’s The Blue Sky Report.

Tags: Kerrigan Advisors, Mergers and Acquisitions, The Blue Sky Report

June 5, 2017 - Industry News

Used-Vehicle Index Falls in May After April Uptick

Black Book’s Used Vehicle Retention Index fell to 112.3 in May after enjoying a slight gain in April.

June 5, 2017 - Industry News

StoneEagle Wins Platinum in 2017 Dealers’ Choice Awards

Dealers voted StoneEagle to a Platinum award in the F&I Technology category in the annual Dealers’ Choice Awards.

June 1, 2017 - Industry News

AutoNation Names New COO

AutoNation named Lance Iserman executive vice president of sales and COO. The more than 15-year company veteran replaces William “Bill” Berman, who resigned last month.

Tags: AutoNation, Bill Berman, hiring, Mike Jackson

June 1, 2017 - Industry News

AutoGravity’s Car Financing App Now Available in New Jersey

AutoGravity’s mobile financing app is now available in New Jersey. According to company officials, the app has been downloaded more than 400,000 times since its introduction last summer.

Tags: AutoGravity, digital retailing, online F&I

June 1, 2017 - Industry News

Cox, Holman Launch Flexdrive Subscription Service

Cox Automotive and Holman Enterprises have announced the launch of Flexdrive, a joint venture designed to offer a subscription option to new-car buyers.

Tags: auto finance, Cox Automotive, Holman Enterprises, mobility

June 1, 2017 - Industry News

VW Mends Fences Among Lease Customers

The latest quarterly report from Swapalease.com shows incremental gains for the scandal-marred Volkswagen brand.