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December 16, 2014 - Industry News

DealerRater to Bring Reviews to AutoTrader.com

Beginning this month, DealerRater reviews and ratings will be featured on AutoTrader.com's dealer profile pages.

Tags: AutoTrader.com, Customer Reviews, Dealer Review Sites, DealerRater, online reputation management

December 12, 2014 - Industry News

FTC Takes Action Against Two Dealer Groups for Deceptive Advertising

The FTC took action against two dealer groups it targeted in 2012 for deceptive advertising. They were charged with violating the FTC's orders prohibiting them from deceptively advertising the cost of financing or leasing a car.

Tags: Deceptive Advertising, Department of Justice, Federal Trade Commission, Truth in Lending Act

December 11, 2014 - Industry News

DriveTime Selects Manheim, Go Auto Exchange as Remarketing Partners

The partnership makes Manheim and Go Auto Exchange DriveTime’s primary source for remarketing wholesale inventory through its physical locations, mobile auctions and online.

Tags: Auto Auctions, DriveTime, Go Auto Exchange, Manheim

December 10, 2014 - Industry News

Bob & Chuck Eddy Expand MOTOR TREND Certification Program

The dealer group has added two more stores to the MOTOR TREND certified program. They’re located on Grove City, Pa.

Tags: Bob & Chuck Eddy, EasyCare, Motor Trend

December 10, 2014 - Industry News

White Remains Top Car Color, PPG Industries Reports

The color white was up 3% in popularity globally in 2014, according to data from the coating manufacturer. Black, silver and gray also topped the list.

Tags: paint and fabric

December 10, 2014 - Industry News

Charisma! Communications Launches Video Production Division

Boutique public relations agency specializing in the automotive industry has launched a new video production division in response to growing demand for video-based marketing services.

December 10, 2014 - Industry News

Dealers Sentenced to 3 Years for Sales Tax Evasion

Two brothers operating Space Auto Sales and Spin Auto Sales failed to pay more than $1.5 million in sales tax from the sale of vehicles between 2007 and 2009.

Tags: Compliance, sales tax evasion

December 10, 2014 - Industry News

Long-Term Loans Allow Car Buyers to Spend Extra $1.4B in November

Nearly half of new car buyers in the month of November used longer terms to purchase more expensive cars, according to a report from Requisite Press. The long-term loans enabled extra spending of more than $1.4 billion.

Tags: Auto Loan Terms, Auto Loans

December 9, 2014 - Industry News

DOD Bans Military Allotments for Personal Property Purchases

Starting Jan. 1, active-duty troops will no longer be able to use military allotments to purchase or lease vehicles, among other things. The policy change was made in response to enforcement actions brought by the CFPB.

Tags: Consumer Financial Protection Bureau, department of defense, military

December 9, 2014 - Industry News

Auto/Mate Adds Rates, Residuals and Rebates to Desking Solution

Dealers using the company’s Desk/Mate module will now have access to real-time lease rates, residuals, manufacturer incentives and other rebate information.

Tags: Auto/Mate, Desking

December 9, 2014 - Industry News

November Sales Pace at 17.20 Million-Unit Annual Rate

November total light vehicle sales increased 4.6% from a year ago to more than 1.3 million units. The industry SAAR was also up significantly from a year ago and the month prior, rising to 17.20 million units.

Tags: Audi, Autodata Corp, BMW, Chrysler, Ford, General Motors, Honda, Hyundai, Mazda, Mercedes-Benz, Mitsubishi, monthly sales, Nissan, Porsche, SAAR, Toyota, Volkswagen

December 9, 2014 - Industry News

Reynolds and RouteOne Integrate eContracting, docuPAD

The new functionality between docuPAD and RouteOne eliminates the need to switch between applications and technology to sign RouteOne contracts and other related documents.

Tags: docuPad, eContracting, Reynolds & Reynolds, RouteOne

December 9, 2014 - Industry News

Ally Launches Enhanced Mobile and Online Tools for Auto Consumers

Ally Financial has improved its Ally Auto Mobile Pay app and added a new Click-to-Chat tool to its website that links users with live service agents.

Tags: Ally Financial, live chat, Mobile Applications

December 4, 2014 - Industry News

November a Turnaround Month for Independents, CNW Reports

After taking it on the chin for most of the year, independent dealerships realized a slight increase in used-vehicle sales in November. They also experienced an increase in transaction prices.

December 4, 2014 - Industry News

CNW: November’s TDR Hits 16.8 Million Despite Consumer Confidence Slip

Consumers may have their doubts about the economy, but they’re feeling pretty good about their personal economic situations. It’s one of the reasons CNW’s True Delivery Rate reached 16.8 million units in November.

December 2, 2014 - Industry News

Buy/Sell Activity Up 89% Year-Over-Year

Dealership buy/sell activity in the U.S. reached a new high, in part due to Berkshire Hathaway’s acquisition of Van Tuyl, the largest acquisition in the auto industry’s history.

Tags: Acquisition, Lithia Motors, Van Tuyl Auto Group

December 2, 2014 - Industry News

Manheim Adds Experienced Executive to Leadership Team

Manheim selected Shane O’Dell to serve as senior vice president of wholesale service, a new role within the company. O’Dell has worked in the vehicle finance industry since 1995.

Tags: auto finance, leadership, Manheim, NextGear Capital

December 2, 2014 - Industry News

Ga. Supreme Court Gives Go-Ahead in Fraud Suit Against Dealer

The Georgia Supreme Court ruled unanimously that a customer of Payless Auto Deals could proceed with his fraud claim against the dealership and one of its salespeople for selling him a damaged vehicle.

Tags: Carfax Report, Deceptive Practices, Lawsuit

December 2, 2014 - Industry News

Prestige Financial Ranked a Top Workplace in Utah

Prestige Financial Services came in at No. 4 on the Salt Lake Tribune’s list of top workplaces in the state in the large company category.

Tags: Prestige Financial, Utah

December 2, 2014 - Industry News

Loan Amounts Reach Record Highs in Q3

Experian Automotive reported this week that average dollar amount for both new and used vehicle loans reached all-time highs in the third quarter, climbing to $27,799 and $18,576, respectively.

Tags: Auto Loans, Experian Automotive, third quarter

December 2, 2014 - Industry News

KBB: New-Car Transaction Prices Up in November

New-car prices have increased by $165 from November last year, while rising $568 from a month prior. Domestic automakers have been the main beneficiaries of this trend, according to Kelley Blue Book.

Tags: Kelley Blue Book, Transaction Prices

December 1, 2014 - Industry News

Toyota's Captive Issues Statement Regarding CFPB, DOJ Allegations

Toyota Motor Credit Corporation issued a statement to F&I and Showroom regarding last week’s regulatory filing. It revealed that the CFPB and the DOJ are alleging that the captive’s practices in the auto finance sector have resulted in the discriminatory pricing of auto loans.

Tags: auto lending, CFPB, Consumer Financial Protection Bureau, Department of Justice, discrimination, Investigation, Toyota Motor Credit Corp

November 20, 2014 - Industry News

CFPB Needs a New 'Tool,’ Study Finds

F&I and Showroom delves into a new study commissioned by the American Financial Services Association. It concludes that the CFPB’s use of the BISG proxy method is “conceptually flawed” and could lead to overstatement of alleged harm to consumers.

Tags: Ally Financial, American Financial Services Association, auto finance, Bayesian Improved Surname Geocoding, BISG, CFPB, CFPB study, F&I manager, F&I office

November 19, 2014 - Industry News

CFPB Methodology Flawed, New Study Concludes

A new study released by the American Financial Services Association finds bias and high error rates in the CFPB's proxy methodology for determining disparate impact.

Tags: American Financial Services Association, CFPB, CFPB study

November 19, 2014 - Industry News

J.D. Power: New-Car Sales Reaching Record Levels

J.D. Power’s John Humphrey told attendees of the NADA/J.D. Power Western Automotive Conference this week that new-car sales are steadily approaching the record of 17.3 million set in 2000, but with more discipline in pricing and the use of incentives.

Tags: J.D. Power and Associates, NADA, New-Car Sales