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April 21, 2016 - Industry News

CFPB to Discuss Arbitration at Field Hearing Next Month

The Consumer Financial Protection Bureau will be holding a field hearing on May 5 in Albuquerque, N.M., to discuss arbitration. CFPB Director Richard Cordray will issue remarks at the hearing

Tags: AFSA, Consumer FInancial Protection Bureau, Field Hearing, Richard Cordray

April 21, 2016 - Industry News

Volkswagen Agrees to Diesel Settlement

Volkswagen has agreed to give buyers of the nearly 600,000 vehicles sold in the United States with the emissions cheating software the option of selling the cars back or getting them fixed, a judge announced April 21.

Tags: Diesel, Settlement, Volkswagen, Volkswagen Scandal

April 21, 2016 - Industry News

Edmunds: EV, Hybrid Owners Ditching Vehicles for SUVs

An Edmunds analysis found that only 27.5% of all hybrid and EV trade-ins in 2016 have been applied to the purchase of another hybrid or EV, an 11.3% drop from last year’s rate of 38.5%. A larger percentage, 33.8%, of trade-ins are going toward the purchase of SUVs.

Tags: Edmunds.com, Electric Vehicle, Hybrid Vehicle, Trends

April 21, 2016 - Industry News

BMW Distribution Center Opens in Texas

The BMW Group's newest vehicle distribution center at the Port of Galveston, Texas, officially opened Wednesday. The distribution center, according to the company, will better serve the 45 BMW and MINI dealers in the nation’s southern region: Texas, Oklahoma, Louisiana and Arkansas.

Tags: BMW, New Jersey, Vehicle Distribution

April 21, 2016 - Industry News

TD Bank: U.S. Auto Sales to Peak in 2016, Remain Healthy in 2017

TD Economics, an affiliate of TD Bank and TD Auto Finance, projects U.S. auto sales will peak at 17.6 million units this year before edging down to 17.3 million in 2017. But sales should remain at the 17 million-unit level for some time, the finance source’s economist noted.

Tags: Dina Ignjatovic, new-vehicle sales, SAAR, TD Auto Finance, TD Economics, used-vehicle sales

April 21, 2016 - Industry News

Four N.Y. Dealers Ordered to Pay Nearly $2 Million to Settle Payment Packing Charges

New York Attorney General Eric T. Schneiderman’s initiative to end dealer “jamming,” or payment packing, has resulted in four separate settlements with four dealer groups. They agreed to return nearly $2 million in restitution to nearly 5,000 consumers and $174,000 in penalties and costs to the state.

Tags: Attorney General, Dealer Groups, Deceptive Practices, New York, Settlements

April 21, 2016 - Industry News

Nissan Fleet Initiative Expands Dealer-Based Ordering

Nissan is making it easier for commercial fleets to acquire vehicles outside of annual purchasing cycles with its Fleetail 2.0 program that will expedite orders of less than 50 vehicles to commercial fleets and fleet management companies.

Tags: Fleet Incentives, Nissan, Nissan Titan XD

April 20, 2016 - Industry News

Dimmitt Chevrolet Receives Chevrolet Dealership of the Year Award

Founded in 1924, Dimmitt Chevrolet was named the 2015 Chevrolet Dealer of the Year. Out of more than 3,000 Chevrolet dealerships, the dealership was one of 50 to qualify to receive the award.

Tags: Awards, Chevrolet, Dimmitt Chevrolet, Florida

April 20, 2016 - Industry News

Former Larry H. Miller Group CEO Acquires California Dealership

Greg Miller, who stepped down as CEO of the Larry H. Miller Group in March 2015, has acquired Bob Baker Toyota in San Diego, Calif. The dealership will be renamed Greg Miller Toyota and will be operated under his new enterprise, Greg Miller Automotive San Diego.

Tags: Acquisition, California, Dealership

April 20, 2016 - Industry News

KBB Aims to Change Image With New Marketing Campaign

Kelley Blue Book's new 'Get New Car Smart" marketing campaign is designed to reposition the brand away from being the used-car pricing and valuation destination to the go-to resource for new-car shoppers, company officials said.

Tags: Kelley Blue Book, New Vehicles, Used Vehicles, Vehicle Valuation

April 20, 2016 - Industry News

Black Book Becomes Exclusive Partner of Auction Simplified

Black Book announced today it is now the exclusive provider of vehicle valuation data for Auction Simplified, an online auction service that allows dealers to instantly make vehicle inventory available to wholesale buyers.

Tags: Auction Simplified, Auto Auctions, Black Book, Partnership

April 19, 2016 - Industry News

FCA Taps Express Lane Dealers for Mopar Fleet Parts Program

Through its 1,000 U.S. dealerships offering the Mopar Express Lane service, Fiat Chrysler Automobiles is rolling out the Mopar fleet parts and service program — a one-stop maintenance solution designed to assist fleets with uptime, driver safety, and competitive pricing,

Tags: FCA, Fiat Chrysler, Mopar Express Lane Service

April 19, 2016 - Industry News

Quakes Shut Down Toyota, Hino Production

Toyota will shut down most of its production of Toyota, Lexus, and Hino vehicles over the coming week, after a pair of deadly earthquakes rocked Japan and caused parts shortages for the automaker.

Tags: Hino, Lexus, Production, Toyota

April 19, 2016 - Industry News

SouthWest Dealer Services Acquires Two Agencies

SouthWest Dealer Services' acquisition of Chicago-based United Insurance Group and Seattle-based Olympic Dealer Marketing will expand its national reach, increase its employee count to 360, and raise its active dealer customer base to 650 across 16 states.

Tags: Acquisition, Olympic Dealer Marketing, SouthWest Dealer Services, United Insurance Group

April 19, 2016 - Industry News

Fidelis PPM Completes Reynolds Certified Interface Program

The announcement marks the first time a prepaid maintenance program has achieved Reynolds and Reynolds certification. It's also the first time such a program has been recognized as a Reynolds Certified Interface product.

Tags: certification, Fidelis PPM, Prepaid Maintenance, Reynolds & Reynolds

April 19, 2016 - Industry News

Consumers Prefer Compliant Dealerships, Survey Shows

A survey that targeted both consumers and car dealers found that the majority of consumer respondents favored dealerships that adhere to federal regulations. However, survey results also reveal that the majority of dealerships polled did not offer their employees comprehensive compliance training.

Tags: compliance, Consumer Buying Habits, Survey, Total Dealer Compliance

April 19, 2016 - Industry News

J.D. Power Sold to Global Alternative Investments Firm

J.D. Power owner McGraw Hill Financial is expected to finalize the $1.1 billion sale to XIO Group during the third quarter of 2016.

Tags: J.D. Power, McGraw Hill Financial, Transaction, XIO Group

April 14, 2016 - Industry News

Ford Credit Now Offering 84-Month Financing

In a dealer bulletin obtained by F&I and Showroom, Ford Motor Credit announced the availability of 84-month financing on new retail and subvented rate contracts. The bulletin urges dealers to consider the negative impacts of longer term loans.

Tags: 84-Month Auto Loans, auto finance, F&I office, Ford Credit, Long Loan Terms, new-vehicle financing

April 14, 2016 - Industry News

Houston Dealership Becomes First to Sell and Service Hyundai's Genesis Brand

North Freeway Hyundai has reached an agreement with Hyundai Motor America to become the first dealership to showcase, sell and service the new Genesis brand and its luxury vehicles, according to a North Freeway Hyundai announcement.

Tags: Hyundai, Hyundai Genesis, Luxury Vehicles

April 14, 2016 - Industry News

Drivers Still Multitasking Behind the Wheel, Survey Shows

Results from a KBB.com survey show that 61% of drivers continue to multitask behind the wheel, with nearly half of respondents still using their mobile phones while driving.

Tags: distracted driving, In-Car Technology, Infotainment Systems, Kelley Blue Book

April 14, 2016 - Industry News

Richard Evans to Head Dealertrack Canada

Dealertrack announced today the appointment of Richard Evans to vice president and general manager of Dealertrack Canada. He officially takes the helm of Dealertrack Canada on April 25.

Tags: Dan Evans, Dealertrack, HomeNet, Manheim, NextGear Capital, vAuto, VinSolutions, Xtime

April 13, 2016 - Industry News

EFG, F&I Express Integrate Econtracting Capabilities

Through a new partnership between EFG Companies and F&I Express, the two companies will integrate eContracting capabilities to better serve their dealership clients.

Tags: econtracting, EFG Companies, F&I Express, Partnership

April 13, 2016 - Industry News

GoMoto Adds Kelley Blue Book Integration to Platform

Through the integration, users of GoMoto's Customer Experience platform will be able to offer Kelley Blue Book's appraisal tool as part of the initial customer registration process. Users will also be able to use the appraisal tool to get service customers to trade up and explore their inventory.

Tags: Customer Engagement, GoMoto, Kelley Blue Book, Systems Integration

April 13, 2016 - Industry News

Penske Acquires Canadian Truck Dealer Group

Penske's Premier Truck Group subsidiary has completed its acquisition of Harper Truck Centres' five commercial truck dealerships in Toronto. The acquired stores are expected to generate approximately $130 million in annualized revenue for Penske Automotive.

Tags: Acquisition, Canada, Harper Truck Centres, Penske Automotive Group, Premier Truck Group

April 12, 2016 - Industry News

GM Financial Breaks Ground on New Financial Servicing Center

General Motors Financial Company Inc. broke ground on a new financial servicing center in San Antonio, Texas, on Monday. When completed in the Spring 2017, the 100,000-square-foot facility will represent the fifth servicing center in North America for the captive finance company.

Tags: Construction, GM, GM Financial, Servicing Center