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March 14, 2017 - Industry News

Sage to Pay $3.6 Million to Settle FTC Charges

The nine-store, Los Angeles-based Sage Automotive Group will pay $3.6 million to settle charges of deceptive and unfair sales and financing tactics, including yo-yo financing and payment packing.

March 13, 2017 - Industry News

Infiniti Joins automotiveMastermind Platform

Infiniti dealers now have the opportunity to partner with automotiveMastermind, which offers predictive analytics to drive sales and customer retention.

Tags: advertising, dealer website, digital marketing, marketing

March 13, 2017 - Industry News

Helion Issues Dealer Data Security Guidance

Describing dealership data breaches as an ‘imminent threat,’ Helion Automotive Technologies’ Eric Nachbahr has issued proactive security recommendations for auto dealers.

March 13, 2017 - Industry News

PERQ: Decluttered Dealer Sites Perform Best

A new analysis of consumer behavior data suggests that decluttering dealership websites increases profit, data collection and click-throughs.

March 11, 2017 - Industry News

Tom Webb to Retire as Cox Automotive's Chief Economist

Tom Webb will retire on June 30 as Cox Automotive's chief economist, ending a more than four-decade career.

Tags: Cox Automotive, Manheim, Manheim Index, Manheim Used Vehicle Report, Tom Webb, used-vehicle values

March 9, 2017 - Industry News

CNCDA: California New-Vehicle Sales Cool in 2016

The California new-vehicle market leveled off in 2016, with new light vehicle registrations increasing by less than 2% during the final three quarters of last year, according to the California New Cars Dealers Association (CNCDA).

Tags: California New Car Dealers Association, new-vehicle sales, used-vehicle sales

March 9, 2017 - Industry News

Lease Credit Approvals Jump 33.3% in February

Car lease credit applicants registered a 72.2% approval rate in February, a 33.3% increase from January’s 50% approval rate but flat with a year ago, according to Swapalease.com.

Tags: lease, Swapalease.com

March 8, 2017 - Industry News

Black Book: Retention Holds Relatively Strong in February

Small pickups led the way, but cars also showed retention strength during a month in which the average price of a used vehicle for model years 2011-2015 depreciated by 0.8%.

Tags: Black Book, depreciation, used-vehicle values

March 8, 2017 - Industry News

AAGI Unveils New Branding, Exclusionary VSC

AAGI unveiled a corporate rebrand and the AutoGuard Plus exclusionary vehicle service contract at a recent event.

March 8, 2017 - Industry News

Wise F&I Partners With Darwin Automotive

The F&I product provider’s full suite of F&I protections will now be available through Darwin’s prescriptive-based F&I selling software. The F&I tech firm will also provide erating and econtracting capabilities of Wise F&I’s products.

Tags: Darwin Automotive, F&I menu, F&I products, F&I technology, Wise F&I

March 8, 2017 - Industry News

ACV Auctions Secures $15 million in Funding to Fuel Expansion

This Series B funding builds on the $5 million in venture capital ACV Auctions secured in 2016, the $1 million the firm secured in 2015 by winning the 43North startup competition, and the $1 million from angel investment the company also secured in 2015.

Tags: ACV Auctions, depreciation, used-vehicle values

March 7, 2017 - Industry News

Manheim: Wholesale Prices Slip in February

Given last February's sharp dip in pricing, the Manheim Index shows a year-over-year gain of 1.1%, putting it at 124.6 for the month of February. The firm also noted that the crazy tax refund season that was expected to negatively impact dealers never materialized.

Tags: Certified Pre-Owned, Manheim Index, used-vehicle pricing, used-vehicle sales, Wholesale Pricing

March 7, 2017 - Industry News

Jaguar Land Rover North America Honors Top Retailers

Jaguar Land Rover North America LLC announced the 32 dealership winners of the 2016/17 Pride of Jaguar and Land Rover Pinnacle Retailer Excellence awards.

Tags: Jaguar Land Rover

March 7, 2017 - Industry News

TradeRev Adds Three New U.S. Markets

Dealers in Dallas and the states of New York and Pennsylvania can now use TradeRev’s mobile app to value trade-ins.

Tags: Auction, TradeRev

March 7, 2017 - Industry News

EFG Launches Enhanced Lifetime Wrap Coverage

The new offering is designed to improve dealer profit margins and foster customer retention for the life of the vehicle.

March 7, 2017 - Industry News

DealerTeamwork Announces Partnership with InteractiveTel

The new collaboration aims to improve customer interaction tracking and data reporting.

March 7, 2017 - Industry News

Black Book Powers AutoGravity’s Trade Appraisals

Black Book and AutoGravity have reached an agreement that pairs Black Book’s valuation tools with AutoGravity’s digital sales and financing platform.

March 3, 2017 - Industry News

Eastman Launches New Campaign to Drive Dealer Sales

Eastman Chemical Co.’s Darrell Reed announced the launch of a new consumer campaign designed to drive dealership sales of window protection film.

March 2, 2017 - Industry News

Reynolds and Reynolds President Steps Down

Ron Lamb

Ron Lamb, who was named president of the software firm in October 2010, has stepped down from his post. Officials said the position will not be immediately filled.

Tags: Dealer Software, Reynolds & Reynolds, Ron Lamb

March 2, 2017 - Industry News

Impala Most Cross-Shopped Vehicle in 2016

Jumpstart named the Chevrolet Impala the most cross-shopped mass-market vehicle across its portfolio of sites in 2016.

March 2, 2017 - Industry News

Experian: Total Balances, Amount Financed Reach Record Highs in Q4 2016

The firm today reported that average amounts financed for new and used reached record highs of $30,621 and $19,329, respectively. Total balances also reached a record high, although Experian observed a slowing in year-over-year growth.

Tags: auto finance, deliquencies, Experian Automotive, leasing, new-vehicle financing, used-vehicle financing

March 2, 2017 - Industry News

Richard Howse Joins KAR Auction Services as CCO

The 30-year industry veteran will focus on developing customer solutions that integrate KAR’s capabilities and businesses. He will report to COO Don Gottwald.

March 2, 2017 - Industry News

AIDA: Trucks Up, Sales Down in February

America's 9,500 international nameplate franchises accounted for 54% of all new vehicles sold in the United States in February. Industrywide, 1.33 million light vehicles were sold last month.

Tags: American International Automobile Dealers Associat, Audi, Autodata Corp, Honda, SAAR

March 1, 2017 - Industry News

KBB: Average Transaction Price for New Up $757 in February

With sales skewed toward utility vehicles, the average transaction price for light vehicles rose by $757, or 2.3%, from a year ago to $34,352 in February, the firm reported today.

Tags: Average Transaction Price, Kelley Blue Book, new-vehicle sales

March 1, 2017 - Industry News

AutoGravity App Surpasses 200,000 Downloads

The fintech firm today announced it has surpassed 200,000 downloads of its native iOS and Android smartphone apps. The company’s platform allows car shoppers in 46 states to secure financing on a specific vehicle before heading to the dealership to complete the deal.

Tags: AutoGravity, digital retailing, Online F&I