August 2, 2018 - Industry News
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
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
TradeRev and CarsArrive have partnered to offer free vehicle transportation to dealers who purchase vehicles in certain states.
Edmunds reports loan interest rates sustained near-record highs in July as automakers make the shift away from traditional summertime financing deals.
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
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.
Retail automotive software development expert Bridget Townsend has joined Rapid Recon as vice president of development.
July 31, 2018 - Industry News
Compli announced the launch of CMS University, a free series of four ‘masterclass’-level online courses open to dealers and other auto industry members.
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.
The advisory board for the sixth annual P&A Leadership Summit includes executives from leading F&I product providers and administrators.
WalletHub’s latest dangerous driving report ranks Virginia as the strictest enforcer of speed limits and Delaware as toughest on reckless drivers.
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 announced gains in its auto finance division even as directors acknowledged increasing competition in the subprime space.
National Auto Care Corp. has been acquired by Lovell Minnick Partners, a Philadelphia-based private equity firm.
Vivial’s new, interactive ebook makes the case for auto retailers to increase customer engagement as spending heats up.
A new report from Black Book uncovers the reasons behind recent product cancelations and shows that no two discontinued models depreciate alike.
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
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'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
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
Sergio Marchionne, former CEO of Fiat Chrysler Automobiles and Ferrari N.V., has died following complications from surgery.
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.
Manheim Express promises dealers a fast and easy way to list and sell inventory in the Manheim Marketplace.
July 24, 2018 - Industry News
A state-by-state survey of Swapalease users yielded a list of five trucks and SUVs consumers say are suited to camping in style.
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
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