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August 2, 2018 - Industry News

KBB: Avg. Transaction Price in June Rises 3%

With cars expected to make up only 31% of July sales, the industry's average transaction price climbed by $985 from a year ago to $35,359.

Tags: average transaction price, Ford, Kelley Blue Book, Volkswagen

August 2, 2018 - Industry News

FTC Charges Arizona Group With Falsifying Incomes on Consumer Credit Apps

According to the regulator, this was the FTC’s first action alleging income falsification by dealerships. Charged are the owners of Tate’s Auto Group, which operates four dealerships in Arizona and New Mexico, near the border of the Navajo Nation.

Tags: auto finance, compliance, Federal Trade Commission, income falsification, Tate's Auto

August 2, 2018 - Industry News

TradeRev, CarsArrive Offer Free Vehicle Transportation

TradeRev and CarsArrive have partnered to offer free vehicle transportation to dealers who purchase vehicles in certain states.

August 2, 2018 - Industry News

Zero Percent Finance Deals Drop to 13-Year Low

Edmunds reports loan interest rates sustained near-record highs in July as automakers make the shift away from traditional summertime financing deals.

August 2, 2018 - Industry News

KAR Names New Leader for Preferred Warranties

Edmund Field, who joined KAR earlier this year as director of new product development, now serves as president of the company's Preferred Warranties business unit.

Tags: Auto Auctions, Edmund Field, Kar Auction Services, Preferred Warranties, remarketing

August 1, 2018 - Industry News

Harkins to Emcee Compliance Summit, PALS at Industry Summit 2018

Bob Harkins will serve double duty at this year’s Industry Summit, serving as master of ceremonies for Compliance Summit and P&A Leadership Summit.

August 1, 2018 - Industry News

Bridget Townsend Joins Rapid Recon

Retail automotive software development expert Bridget Townsend has joined Rapid Recon as vice president of development.

July 31, 2018 - Industry News

Compli Launches CMS University

Compli announced the launch of CMS University, a free series of four ‘masterclass’-level online courses open to dealers and other auto industry members.

July 31, 2018 - Industry News

Retail Fraud Volume and Cost Up Sharply in 2018

LexisNexis Risk Solutions finds auto dealers and other retailers are facing fraud on an unprecedented scale, including a 30% increase in the number of successful fraudulent transactions since 2017.

July 31, 2018 - Industry News

PALS Names 2018 Advisory Board Members

The advisory board for the sixth annual P&A Leadership Summit includes executives from leading F&I product providers and administrators.

July 31, 2018 - Industry News

Strictly Enforced: Virginia Leads Nation in Speeding Tickets

WalletHub’s latest dangerous driving report ranks Virginia as the strictest enforcer of speed limits and Delaware as toughest on reckless drivers.

July 31, 2018 - Industry News

MBUSA to Lower Entry Point With A-Class

The introduction of the compact Mercedes-Benz A-Class to the North American market in 2019-MY will represent a new entry point below the CLA-Class.

July 30, 2018 - Industry News

Capital One: Auto Growing as Competition Intensifies

Capital One announced gains in its auto finance division even as directors acknowledged increasing competition in the subprime space.

July 30, 2018 - Industry News

National Auto Care Acquired by Private Equity Firm

National Auto Care Corp. has been acquired by Lovell Minnick Partners, a Philadelphia-based private equity firm.

July 30, 2018 - Industry News

Vivial Launches Interactive Guide to Summertime Success

Vivial’s new, interactive ebook makes the case for auto retailers to increase customer engagement as spending heats up.

July 30, 2018 - Industry News

Modern Collectibles: Discontinued Values Vary Wildly

A new report from Black Book uncovers the reasons behind recent product cancelations and shows that no two discontinued models depreciate alike.

July 30, 2018 - Industry News

Vegas Dealer Family Inspires Award-Winning Film

Life Story Media’s ‘Driven By Integrity: The Gaudin Family Story’ was honored in two categories at the 39th annual Telly Awards.

July 27, 2018 - Industry News

Audi to Open e-tron Sales Sept. 17

U.S. car buyers can configure and reserve their version of Audi’s first all-electric vehicle for the first time on Sept. 17, the same day the still-veiled 2019 e-tron SUV will make its global debut at a San Francisco event.

July 26, 2018 - Industry News

Wells Fargo to Begin Growing Auto Loan Portfolio by Mid-2019

Photo by Laimerpramer via Wikimedia Commons

Wells Fargo's continued runoff of its auto loan portfolio resulted in a $10.3 billion year-over-year decline in auto loan balances in the second quarter, but executives said the bank is positioned to begin growing its auto finance business once again.

Tags: auto finance, CFPB, compliance, OCC, sales scandal, Wells Fargo

July 26, 2018 - Industry News

NAE/NWAN Associate Earns John Maxwell Certification

Tom Johnson, RV and motorcycle program manager for National Automotive Experts, has qualified as a John Maxwell Team Certified Trainer.

July 25, 2018 - Industry News

Former FCA Chief Sergio Marchionne Dead at 66

Sergio Marchionne, former CEO of Fiat Chrysler Automobiles and Ferrari N.V., has died following complications from surgery.

July 25, 2018 - Industry News

Registration Opens for Industry Summit 2018

Dealers and sales and F&I professionals are invited to register for Industry Summit 2018, a unique training, compliance certification, and networking opportunity set for October in Orlando, Fla.

July 25, 2018 - Industry News

Manheim Releases Mobile App for Dealers

Manheim Express promises dealers a fast and easy way to list and sell inventory in the Manheim Marketplace.

July 24, 2018 - Industry News

Swapalease Users Name Best 'Glamping' Vehicles

A state-by-state survey of Swapalease users yielded a list of five trucks and SUVs consumers say are suited to camping in style.

July 24, 2018 - Industry News

EFG Companies Launches Training Portal for F&I Managers

The EFG Learning Opps Through Virtual Engagement, or LOVE, was designed to boost F&I producer knowledge, reinforce training learnings and reduce the cost of a poor hiring decision for dealerships, according to the company.

Tags: EFG Companies, F&I manager, F&I product provider, F&I products, F&I training