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October 22, 2014 - Industry News

Mich. Governor Signs ‘Anti-Tesla’ Bill

Governor Rick Snyder signed into law yesterday tighter restrictions on selling vehicles directly to consumers. The new law now effectively bans Tesla Motors from selling vehicles in the state.

Tags: electric vehicles, Franchised Dealerships, Governor Rick Snyder, Michigan, Tesla, Tesla Motors

October 21, 2014 - Industry News

Used-Vehicle Price Adjustments Keep Retail Markets on Track, Manheim Reports

The 1.1% third-quarter decrease in the Manheim Used Vehicle Value Index didn’t set off alarms despite it being the fifth straight decline in used-vehicle prices. The firm’s chief economist noted that the drop helped dealers increase vehicle turns as the market continues to inch toward more normal levels.

October 21, 2014 - Industry News

Facebook Playing Bigger Role in Dealer Selection, Study Shows

A survey of 2,000 consumers revealed that Facebook is now among the Top 5 dealer reviews sites used by car shoppers, with 75% of respondents indicating they trust reviews posted by friends on the social media site vs. reviews posted on other sites by people they don't know.

October 21, 2014 - Industry News

Auto/Mate Integrates Document Management System With DMS

Auto/Mate completes integration of etfile's electronic document management solution with its dealers management system, the company announced this week.

Tags: Auto/Mate, CRM, DMS, DMS integration, electronic document storage

October 16, 2014 - Industry News

Inaugural Compliance Summit Set for Nov. 10-11

The new event is designed to offer actionable compliance solutions to dealers and their partners. It will be held at the Seminole Hard Rock Hotel & Casino in Hollywood, Fla.

Tags: compliance, Compliance Summit

October 15, 2014 - Industry News

eLEND Solutions Launches Credit Application Platform

The firm’s CreditPlus is an interactive credit application platform that instantly preapproves shoppers based on the dealer’s defined credit criteria. Consumers can also view their credit score and pick their payments.

Tags: CreditPlus, eLend, Internet shopper, online credit application

October 15, 2014 - Industry News

TrueCar Dealers to Dislcose Doc Fees, Accessory Pricing

TrueCar's 9,000 certified dealers have agreed to disclose costs for vehicle accessories and non-governmental doc fees under the firm's new 'No Surprises' initiative.

Tags: certified dealers, online shoppers, TrueCar

October 15, 2014 - Industry News

Kontos: Wholesale Used-Vehicle Prices Soften Again in September

Wholesale used-vehicle prices softened for the fifth straight month in a row, ADESA reported this week. But improved retail sales of used vehicles helped cushion the blow from growing supply.

October 14, 2014 - Industry News

AutoLoop Call Center Looks For Lost Sales

The service was previously known as Showroom Watchdog, but it was rebranded as Engage when AutoLoop purchased CAR-Research XRM.

Tags: AutoLoop, CRM, Sales Tactics, Showroom Watchdog

October 14, 2014 - Industry News

Autoflicks Creates a Virtual Showroom With Video

Flick Fusion launched Autoflicks, a subscription-based service that provides dealerships with a virtual test drive experience for every vehicle in their inventory.

Tags: Flick Fusion, Video Advertising, virtual showroom

October 14, 2014 - Industry News

Dealertrack CRM Receives Reynolds Certification

Dealertrack’s CRM has been certified as part of the Reynolds Certified Interface Program, which provides a standardized approach to handling dealership data.

Tags: Certification, CRM, Dealertrack, DMS, Reynolds & Reynolds

October 14, 2014 - Industry News

Exeter Finance Corp. Announces $500 Million Securitization

Exeter announced this week the pricing of a $500 million securitization backed by auto loan receivables.

Tags: Exeter Finance Corp., securitizations

October 14, 2014 - Industry News

Ford, Carfax Expand Partnership in Certified Pre-Owned Sales

Ford and Carfax announced this week that they are expanding their relationship. Now, all Ford and Lincoln CPO vehicles will be listed on Carfax Used Car Listing.

Tags: Carfax, Carfax Vehicle History Report, certified pre-owned vehicles, Ford, Lincoln

October 13, 2014 - Industry News

Avg. New-Vehicle Transaction Price Up $3,900 Since 2009

New-vehicle retail sales through September were at their highest level since 2005, but the rise in new-vehicle transaction prices is what has really contributed to the industry's health this year, say J.D. Power analysts.

Tags: J.D. Power and Associates, New-Vehicle Sales, Power Information Network, Transaction Prices

October 13, 2014 - Industry News

Auto/Mate Integrates With Nissan’s Dealer System

Auto/Mate's dealership management system is now fully integrated with Nissan's dealer communication system, officials announced this week.

Tags: Auto/Mate, dealership management system, DMS integration, Nissan, Web Tools

October 9, 2014 - Industry News

Cox, Federal-Mogul Purchase Stake in AutoMD

Federal-Mogul Motorparts and Cox Automotive have purchased a minority stake in the free online automotive repair website, which previously operated as a wholly-owned subsidiary of U.S. Auto Parts Network Inc.

Tags: AutoMD, Cox Automotive, Federal-Mogul Motorsports

October 8, 2014 - Industry News

Former Salesman Files 2 Lawsuits Against Wash. Dealer Group

The former O’Brien Auto Group employee alleges he was fired after he complained about his general manager’s racist remarks. He also claims he was not paid according to his contract.

Tags: Lawsuit, Sales

October 7, 2014 - Industry News

Decline in Wholesale Prices Keep Retail Markets on Track, Manheim Reports

Manheim says the more than 2% decline in wholesale prices 'appears to be part of a healthy overall market.' It allows dealers to turn inventory more quickly, officials say.

Tags: Manheim, used-vehicle values, Wholesale Pricing

October 7, 2014 - Industry News

Minnesota AG Sues EFG Over Service-Contract Refunds

John Pappanastos, CEO of EFG Companies

Attorney General Lori Swanson is suing EFG Companies for deceptive practices because it failed to deliver on its promise of full refunds for VSCs canceled within 30 days. The company’s CEO tells F&I and Showroom his company will be exonerated once all the facts are presented.

Tags: EFG Companies, extended car warranty, extended warranties, John Pappanastos, Lori Swanson, Minnesota AG, Minnesota Attorney General, Robocalls, telemarketing

October 7, 2014 - Industry News

No Subprime Bubble in Sight, Equifax Says

The credit reporting agency says there are no signs of a subprime bubble despite totals for new credit and new loans originated reaching all-time highs through June.

Tags: Equifax, Equifax National Consumer Credit Trends Report, Subprime

October 7, 2014 - Industry News

5 Serra Nissan Employees Arrested

The indictment of the five dealership employees follows federal charges levied against two other Serra Nissan sales managers earlier this year. They are facing federal charges related to a scheme to fraudulently boost loan approvals and car sales.

Tags: bank fraud, F&I manager, Fraud, Nissan Motor Acceptance Corp., Santander Consumer USA

October 7, 2014 - Industry News

Auto/Mate Integrates With Infiniti’s Dealer Communication System

Infiniti dealers using Auto/Mate's DMS can now enjoy a seamless communication path with their manufacturer and the flexibility to adopt third-party applications.

Tags: Auto/Mate, DMS integration, Infiniti

October 1, 2014 - Industry News

ADP Dealer Services Spinoff Now Listed on Nasdaq

CDK Global Inc., the new ADP Dealer Services company, began trading as a member of the S&P MidCap 400 Index yesterday.

Tags: ADP, ADP Dealer Services, CDK Global Inc.

October 1, 2014 - Industry News

Judge Allows Antitrust Lawsuit Against CARFAX to Proceed

The antitrust suit filed by more than 750 dealers against Carfax is now headed into discovery after a federal judge denied Carfax's motion to dismiss the case.

Tags: Bellavia Blatt, Carfax, Leonard Bellavia

October 1, 2014 - Industry News

Potratz Releases Web Tool That Predicts Shopper Behavior

ExitGadget uses custom algorithms and device tracking technology to determine when a website visitor is exhibiting signs of abandoning the page. It then delivers a customizable message designed to covert the site visitor into a sales lead.

Tags: Internet Leads, Internet shopper