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November 11, 2014 - Industry News

Sonic Files Suit Against Former Employee for Luring Away Employees

Sonic and Philpott Motors have filed a lawsuit against a former employee who left the dealership and hired seven other employees to come work for him.

Tags: employment, Lawsuit, Sonic Automotive

November 10, 2014 - Industry News

USEA Hires Account Manager to Oversee Biweekly Loans

Billy Jackson has joined US Equity Advantage as a regional account manager. He will be responsible for servicing the company’s biweekly loan program with dealership partners across multiple states.

Tags: biweekly payment, US Equity Advantage

November 10, 2014 - Industry News

Police Catch Kidnapper Using Dealership’s GPS Device

Detectives asked a dealership to activate the GPS device installed in a kidnapping suspect’s car due to his poor credit. Police apprehended the man and found his victim alive.

Tags: buy-here, GPS devices, GPS Tracking, pay-here, Subprime

November 10, 2014 - Industry News

Flick Fusion, LT2 Partner on Dealer Video Solution

Flick Fusion has partnered with Lighthouse Technology Team to bring video marketing to the commercial truck, equipment, cycle, recreational vehicle and powersports industries. Dealers in these industries can now use the Flick Fusion platform to easily create video for the web.

Tags: Flick Fusion, SEO, Video Advertising, YouTube

November 10, 2014 - Industry News

NCM Associates to Provide Training for Veterans

NCM Associates Inc. has launched a joint effort with nonprofit Hire Heroes USA to provide training and resources to veterans seeking careers in the retail automotive sales and service industry.

Tags: NCM Associates, Sales Training, Veterans

November 6, 2014 - Industry News

N.Y. Dealer Convicted of Money Laundering

The owner of Finish Line Auto Sales was convicted by a federal jury this week of money laundering for helping drug dealers purchase high end used cars with cash.

Tags: money laundering, New York

November 6, 2014 - Industry News

Autobytel Unfazed by AutoNation’s Stance on Third-Party Leads

Autobytel executives said that despite talk of AutoNation and other dealer groups moving away from third-party lead providers, the company has seen a 26% increase in third-quarter revenue thanks to its lead generation services.

Tags: Acquisition, Autobytel, AutoNation, AutoUSA, Lead Generation

November 5, 2014 - Industry News

Longtime Missouri Dealer Dies

The president and co-owner of Pundmann Motor Co. passed away Oct. 31 at the age of 75.

Tags: Missouri, obituary

November 5, 2014 - Industry News

Equifax Income, Job Verification Available to Credit Bureau Connection Dealers

Dealers who use Credit Bureau Connection's credit reports and compliance solutions will now have the opportunity to access income and employment data from Equifax.

Tags: Credit Bureaus, Employment Verification, Equifax

November 5, 2014 - Industry News

Auto/Mate Ranks Among N.Y.’s ‘Best Places to Work’

For the fifth year in a row, Auto/Mate was named one of the thirty “Best Places to Work” in New York state’s capital region by the Albany Business Review.

Tags: Auto/Mate, Best Places to Work, New York

November 4, 2014 - Industry News

Experian Finds Longer Vehicle Ownership Reduces Brand Loyalty

Experian Automotive found that the longer consumers own their vehicles, the less likely they are to purchase their next vehicle from the same brand.

Tags: brand loyalty, Experian Automotive, Ford, used cars

November 4, 2014 - Industry News

Automotive Credit Corp. Joins AppOne Platform

Automotive Credit Corp. is now on Wolters Kluwer Financial Services’ AppOne platform, allowing it to automate credit approval and compliance processes.

Tags: AppOne loan platform, Automotive Credit Corporation, Wolters Kluwer Financial Services

November 4, 2014 - Industry News

Competition Driving Increased Risk in Auto Finance, Regulator Says

A representative of the Office of the Comptroller of the Currency says competition is forcing finance sources to take bigger risks. He warns that the regulator will continue to monitor the market.

Tags: Auto Loans, banks, Consumer Financial Protection Bureau, Regulations, risk

November 4, 2014 - Industry News

SUV Sales Push Transaction Prices Higher

On the strength of SUV sales, average transaction prices for light vehicles rose slightly in October. Leading the way was Ford and its F-Series line of trucks.

Tags: Ford, Gas Prices, KBB, Transaction Prices

November 3, 2014 - Industry News

Florida Speakers Headline Compliance Summit

Ted Smith, president of the Florida Automobile Dealers Association and Alex Kurkin, a well-known attorney and veteran dealer advocate with Kurkin Brandes, will open the inaugural Compliance Summit in Hollywood, Fla., on Nov. 10.

Tags: Compliance, Florida

October 29, 2014 - Industry News

NCM Sponsors 2015 Best Training Day Ever Event

For the third consecutive year, NCM Associates is sponsoring the Best Training Day Ever, a one-day event featuring panels with some of the industry’s top trainers.

Tags: NCM Associates, Training

October 29, 2014 - Industry News

Braman Motorcars Implements LoJack Inventory Management

The South Florida dealer group has deployed LoJack’s inventory management system, which officials said will help deliver an accurate location of vehicle inventory across multiple lots.

Tags: Inventory Management, LoJack

October 29, 2014 - Industry News

TD Auto Finance Executive Installed as AFSA Chair

Andrew Stuart, president and CEO of TD Auto Finance U.S., was installed as the chair of auto finance trade organization during the group’s 98th annual meeting this week in Los Angeles.

Tags: AFSA

October 28, 2014 - Industry News

Benoit Honored With Auto Finance Excellence Award

The senior partner at Hudson Cook and columnist for F&I and Showroom was honored on Oct. 7 at an auto finance conference in Las Vegas.

Tags: Hudson Cook LLP, Michael Benoit

October 28, 2014 - Industry News

Dealer Arrested For Forgery, Fraud

A Georgia dealer was charged with 18 felonies and 9 misdemeanors for allegedly committing fraud and forgery in association with the sale of vehicles.

Tags: forgery, Fraud

October 28, 2014 - Industry News

Crisorio Named Compliance Summit Keynote Speaker

The president and CEO of United Development Systems will open the new compliance event with a keynote address. He will offer his take on how dealers can stay out of the crosshairs of what many believe to be government overreach.

Tags: Compliance Summit, David Gesualdo, Randy Crisorio, United Development Systems

October 28, 2014 - Industry News

Industry Could Realize Best October Since 2004, Say Analysts

The October retail sales forecasts from J.D. Power and Kelly Blue Book are in, and they are predicting a solid sales performance in what is traditionally the second weakest month of the year for car sales.

Tags: J.D. Power and Associates, KBB.com, October sales, SAAR

October 28, 2014 - Industry News

Complí Receives 2014 GRC Value Award

The compliance management software provider was recognized by GRC 20/20 for the value it provided to Tricolor Auto Group. The auto group cut time spent on compliance management in half using solutions from Complí, officials said.

Tags: Awards, Compli, GRC

October 23, 2014 - Industry News

Sonic’s Hybrid F&I Pilot Experiences Training, Staffing Issues

Officials said the Charlotte test store was overwhelmed by sales and paperwork. F&I performance rebounded, however, after the group added document specialists.

Tags: F&I, F&I Revenue, One Sonic-One Experience, Quarterly Earnings, Sonic Automotive

October 23, 2014 - Industry News

Edmunds Pulls Ad Campaign, Says It ‘Missed the Mark’

Edmunds' 'Absurdity of Haggling' campaign included four YouTube videos that depict a cashier trying to overcharge customers for items at a grocery store, then haggling with shoppers who refused to pay. 

Edmunds pulled an online ad campaign last week for its Price Promise program after dealers complained it portrayed them as ‘bad guys’ in the car-shopping process.

Tags: Edmunds, Edmunds.com, haggle, Price Promise