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September 30, 2014 - Industry News

U.S. News Extends Deal With TrueCar

U.S. News is extending its deal with TrueCar for an additional two years. As part of the new agreement, TrueCar will provide the media outlet's website visitors with access to pre-owned vehicles available through its certified dealer network.

Tags: certified pre-owned vehicles, Partnership, TrueCar

September 30, 2014 - Industry News

Auto/Mate Integrates DMS With MaximTrak F&I Suite

The integration now provides users of both systems with a real-time, bi-directional exchange of information, eliminating redundancies and errors caused by incomplete information transfers.

Tags: Auto/Mate, F&I menu, MaximTrak

September 25, 2014 - Industry News

Industry Could Realize Best September Since 2007, Reports Say

New projections from TrueCar and J.D. Power show the industry heading to its best September sales month since 2007, with sales expected to be as much as 9.7% better than last year.

Tags: J.D. Power and Associates, New-Vehicle Sales, SAAR, September, TrueCar

September 24, 2014 - Industry News

Manheim Expands Mobile Auctions to Canada

Manheim's Mobile Auctions service is expanding into Canada. They feature remote participation through satellite feed and localized marketing for participating dealerships.

Tags: Auto Auctions, Canada, Dealerships, Manheim, used car sales

September 23, 2014 - Industry News

Haystack, vAuto Partner to Improve Search Marketing Results

Haystak and vAuto are combining vehicle-specific data with targeted advertisements to tailor search engine ads to car buyers who are searching for used cars online.

Tags: Haystak Digital Marketing, online marketing, vAuto

September 23, 2014 - Industry News

Exeter Finance Corp. Completes $1.65 Billion Warehouse Funding Facility

A wholly owned subsidiary of Exeter Finance has completed the renewal and extension of its warehouse funding facility, which was increased to $1.65 billion.

Tags: Exeter Finance Corp.

September 23, 2014 - Industry News

New Online Tool Triggers Real-Time Leads for Dealerships

AutoLoop has added a feature to its Essentials platform called Instant Online Leads, alerting sales personnel when a prospective car buyer is requesting more information on a dealer’s website.

Tags: AutoLoop, Internet Leads

September 23, 2014 - Industry News

Cadillac Becomes Separate Business Unit

General Motors has announced a strategic realignment that will establish Cadillac as a separate business unit. In addition, the new Cadillac organization will expand to New York with a new global headquarters opening in 2015.

Tags: Cadillac, General Motors, New York

September 23, 2014 - Industry News

TrueCar Expands Dealer Council

TrueCar adds four new members to its National Dealer Council, a 20-member advisory panel of automotive retailing experts. With the new additions, the council now represents all major automakers.

Tags: TrueCar, TrueCar Dealer Council

September 23, 2014 - Industry News

DealerRater Launches LotShot App

The web application helps dealership employees easily snap and share customer photos via email at vehicle delivery. Officials with DealerRater said the app can increase the likelihood of customers leaving a review by 50%.

Tags: Customer Reviews, DealerRater, Email Marketing, review site

September 17, 2014 - Industry News

CFPB Proposes New Oversight of Nonbank Auto Finance Companies

The CFPB announced this week a proposed rule that would allow it to oversee about 38 nonbank auto finance companies. The bureau also plans to release a new whitepaper which details the methodology it uses to determine the presence of discrimination in auto lending.

Tags: auto lending, CFPB, compliance, Consumer Financial Protection Bureau

September 17, 2014 - Industry News

Flick Fusion Introduces Video Marketing Tool

The company’s Timeline Marketing tool allows dealers to quickly create banners and overlays for both new videos and existing videos on the Internet, then publish them to the dealership’s website, YouTube, third-party inventory sites and more.

Tags: Flick Fusion, Social Media, social media marketing, Video Advertising, YouTube

September 17, 2014 - Industry News

StoneEagle Announces Strategic Alliance With JM&A Group

JM&A Group has implemented StoneEagle’s SEcureMetrics F&I and sales reporting platform in more than 1,000 of its performing dealerships.

Tags: F&I Products, JM&A Group, StoneEagle Group

September 16, 2014 - Industry News

Biweekly Payment Provider Bulks Up Compliance Practices

USEA implements code of ethics and a certification test for its dealership partners. The move comes more than three months after the NADA notified members that the FTC was investigating biweekly payment programs.

Tags: biweekly payment, CFPB, FTC

September 16, 2014 - Industry News

Northwood University, EFG Companies Partner

Under the new partnership, the two organizations will develop specialized continuing education programs, conduct joint industry research, and cross-publish content.

Tags: EFG Companies, Northwood University, Training

September 16, 2014 - Industry News

Court Rules Yelp Can Manipulate Business Ratings

Photo Credit: <a href="https://www.flickr.com/photos/57009135@N00/8246725201/">planetc1</a> via <a href="http://compfight.com">Compfight</a> <a href="https://creativecommons.org/licenses/by-sa/2.0/">cc</a>

This month, the Ninth U.S. Circuit Court of Appeals upheld a lower court’s ruling that dismissed a proposed class-action lawsuit against Yelp. The suit claimed the company extorts advertising dollars from businesses in exchange for good reviews, a practice the federal court said is not illegal.

Tags: advertising on Yelp.com, Lawsuit, online advertising, Yelp, Yelp reviews

September 16, 2014 - Industry News

Hudson Cook Adds Former CFPB Enforcement Deputy as Partner

Hudson Cook LLP's Lucy Morris

Hudson Cook adds another former CFPB official to its offices in Washington, D.C., in Lucy Morris. She was a founding member of the implementation team that organized the CFPB after passage of the Dodd-Frank Act.

Tags: CFPB, Hudson Cook LLP, Lucy Morris

September 16, 2014 - Industry News

Bill to Rescind CFPB Auto 'Guidance' Gains Support in Congress

More than 400 dealers traveled to the nation’s capital in support of a new bill that could nullify the CFPB’s guidance on auto lending.

Tags: CFPB, HR 4811, NADA

September 16, 2014 - Industry News

NHTSA Fumbled GM Recall, House Reports

A House committee released a report this week that raised questions about how the National Highway Traffic Safety Administration responded to consumer complaints regarding faulty ignition switches on GM vehicles.

Tags: Congress, General Motors, General Motors Recall, National Highway Traffic Safety Administration

September 16, 2014 - Industry News

Mass. High Court Rules in Favor of Tesla

This week, the Supreme Judicial Court of Massachusetts upheld a lower court’s ruling that dealers did not have grounds to challenge Tesla Motors’ ability to sell vehicles in the state.

Tags: franchise, Lawsuit, Massachusetts, ruling, Tesla, Tesla Motors

September 3, 2014 - Industry News

Carfax Lawsuit Now Lists More Than 700 Plaintiffs

An antitrust lawsuit against Carfax has garnered 700 plaintiffs, up from just 124 when the suit was originally filed in May last year.

Tags: Carfax, lawsuits, Leonard Bellavia

September 3, 2014 - Industry News

New-Car Transaction Prices Jump 3% in August, KBB Reports

In August, the estimated average transaction price for light vehicles in the United States was $32,495, according to the vehicle valuation source. New-car prices have also increased 2.7% from the same period last year.

Tags: Chevrolet, Chrysler, General Motors, Kelley Blue Book, Light-Vehicle Sales, Transaction Prices

September 3, 2014 - Industry News

Hudson Cook to Form New Group to Address Growing Scrutiny of Debt Collection

The firm has added Gary Becker and Barbara Sinsley, who will work with current Hudson Cook attorneys in creating a new practice group to focus on lender oversight and regulatory compliance for third-party debt collectors, debt buyers, collections law firms, and creditors collecting their own debts.

Tags: Hudson Cook LLP, Tom Hudson

September 3, 2014 - Industry News

VinSolutions Undergoes Leadership Changes

Lori Wittman was promoted to vice president and general manager of the company, while Sean Stapleton assumed an expanded role as vice president of sales and marketing.

Tags: Promotions, VinSolutions

September 3, 2014 - Industry News

Subprime Financing Begins to Level Off, Experian Says

The percentage of new-vehicle loans made to credit-challenged car buyers was at 15.1% in the second quarter of 2014, down from 22.1% in the same period in 2013, according to Experian Automotive.

Tags: Auto Loans, deep subprime, Experian Automotive, Melinda Zabritski, Subprime