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May 22, 2014 - Industry News

NADA: U.S. Dealers Employ More Than 1 Million People

The number of people employed by the automotive retail industry topped the 1 million-person mark last year, with the average new-car dealership employing, on average, 57 people, the NADA reports.

Tags: employment, NADA, National Automobile Dealers Association, New-Car Sales

May 22, 2014 - Industry News

Biweekly Payment Providers Offer Unified Response to NADA Memo

Four providers of biweekly payment providers responded on May 20 to a memo the NADA issued to its members on May 8. They say the association overlooked key benefits when it cautioned dealers about how such products are presented to consumers.

Tags: biweekly payment, NADA, National Automobile Dealers Association, SMART Payment Plan, US Equity Advantage

May 21, 2014 - Industry News

Cars.com: Service Department Reputation a Key Factor in Car-Buying Decision

A recent survey commissioned by Cars.com found that more than half of car shoppers seek out reviews for a dealership’s service department before purchasing a vehicle.

Tags: Car Shopping, Cars.com, Service

May 20, 2014 - Industry News

Reynolds Integrates Payment Solution Into DMS

The Reynolds and Reynolds Co. and Global Payments Inc. announced an agreement this week to offer point-of-sale, electronic payment solutions for automotive dealerships.

Tags: DMS integration, Reynolds & Reynolds

May 20, 2014 - Industry News

TrueCar Announces Pricing of Initial Public Offering

Last week, TrueCar announced the pricing of its initial public offering of 7,775,000 shares of its common stock at a price to the public of $9 per share.

Tags: initial public offering, IPO, TrueCar

May 20, 2014 - Industry News

Edmunds: Car Shoppers Don’t Focus on Rock-Bottom Price

Most car shoppers don't fixate on a rock-bottom price, especially if they can avoid long and tense negotiations with fair upfront pricing, according to a report from Edmunds.com.

Tags: car prices, Car Shopping, Edmunds.com, Mobile, Used Vehicles

May 15, 2014 - Industry News

DOJ Investigating Fifth Third Bank’s Auto Lending Practices

Photo via Flickr.

Fifth Third Bancorp revealed in a regulatory filing this month that its indirect auto loan portfolio is being examined by the Department of Justice to determine whether the finance source engaged in discriminatory practices.

Tags: Auto Loans, CFPB, Consumer Financial Protection Bureau, Department of Justice, discrimination, Fifth Third, Investigation

May 14, 2014 - Industry News

Calif. New-Vehicle Registrations Up 5.4% in Q1

New-vehicle sales in California improved for the 14th consecutive quarter in the opening quarter of 2014, with new-vehicle registration increasing 5.4% from a year ago, according to the state association.

Tags: Brian Maas, California New Car Dealers Association, Honda, Hybrid Vehicle, Tesla Motors, Toyota

May 14, 2014 - Industry News

Study: Moms Prefer to Shop Online and Negotiate in Person

A new study shows that 73% of mothers consider themselves to be the “sole decision-maker” in the vehicle-shopping process. And more than half of them still prefer to conduct negotiations in person.

Tags: car shopper, Car Shopping, Cars.com, Study

May 14, 2014 - Industry News

Ally Announces Auto Auction Award Winners

Top honors went to ABC St. Louis Auto Action, which won for the second year in a row. Dealer Auto Auction of Oklahoma City and Adesa Los Angeles were also recognized.

Tags: Ally Financial, Auto Auctions, Awards, SmartAuction

May 7, 2014 - Industry News

VisionMenu Adds Five Product Providers to vRate Platform

VisionMenu has added ASI, GWC Warranty, PCMI, Premier Dealer Services, and RoadVantage to its vRate platform, which allows F&I managers to rate multiple providers and multiple products simultaneously.

Tags: eContracting, Ron Martin, VisionMenu Inc.

May 7, 2014 - Industry News

CallSource Adds IHS Data to Sales Profit Management System

CallSource has partnered with IHS Automotive to deliver reporting and analytics to users of its Sales Profit Management system.

Tags: Analytics, CallSource, IHS Automotive

May 7, 2014 - Industry News

FTC Approves Final Consent Orders Against 10 Dealers

The FTC has approved final consent orders involving the deceptive advertising practices of 10 dealerships. The cases were part of Operation Steer Clear, a nationwide sweep focusing on misleading advertising.

Tags: Deceptive Advertising, Deceptive Practices, Federal Trade Commission, Truth in Lending Act

May 7, 2014 - Industry News

Dealers' Choice Awards: Cast Your Vote Today

Voting for the 2014 Dealers’ Choice Awards is now open. Readers of the magazine can now cast their vote for the top vendors, consultants and trainers.

Tags: Auto Dealer Monthly, Dealers' Choice Awards

May 1, 2014 - Industry News

Former Hyundai CEO Named President of TrueCar

John Krafcik, former Hyundai Motor America's president and CEO, has been named president of Web-based dealer network TrueCar.

Tags: Hyundai, TrueCar

April 30, 2014 - Industry News

Missouri Attorney General Obtains Order Against Dealership

Attorney General Chris Koster obtained a preliminary injunction against an auto dealership this week, preventing it from selling, advertising or transferring vehicles within Missouri. The dealership’s owners are accused of selling stolen vehicles.

April 30, 2014 - Industry News

KBB: Majority of New-Car Shoppers Unaffected by GM Recall

The vehicle information site says Toyota’s 2009 recall is more memorable than General Motors recent issues with consumers, who, according to survey data, continue to consider GM brands.

April 30, 2014 - Industry News

Black Book Partners With Cars.com

Black Book will now offer Cars.com customers the benefit of leveraging the same Black Book valuation used by car dealers when pricing their vehicle.

April 29, 2014 - Industry News

Auto/Mate Receives Top Workplaces Award

For the third consecutive year, Auto/Mate Dealership Systems was selected by The Times Union as one of the Top Workplaces in New York's Capital Region.

Tags: Auto/Mate, Best Places to Work, employee

April 29, 2014 - Industry News

Dealers Assurance Receives Category VII Designation

A.M. Best Co. has increased Dealers Assurance Company’s financial size category from VI to VII. Category VII designates companies whose adjusted policyholder surplus is between $50 million and $100 million.

Tags: A.M. Best, Dealers Assurance Company

April 29, 2014 - Industry News

Haystak Selected as Preferred Provider in Lexus Dealer Website Program

As a preferred provider in the Lexus Dealer Website Program, Haystak now offers Lexus’ 233 U.S. dealers a selection of Lexus-compliant website designs and digital marketing services through its HAYSTAK KORE360 platform.

Tags: Dealer Websites, Haystak Digital Marketing, Lexus, online marketing

April 29, 2014 - Industry News

Sonic to Pilot Hybrid Process in July

Sonic officials said last week the group will begin piloting its new customer experience initiative at a Charlotte, N.C., store this July. The new process promises to deliver a ‘one associate at one price in one hour’ buying experience.

Tags: hybrid manager, Quarterly Earnings, Sales, Sonic Automotive

April 28, 2014 - Industry News

Industry Summit Doubles Down on SF

Industry Summit 2014 will feature multiple education sessions dedicated to special finance and used-car retailing. Serving as master of ceremonies for those two tracks will be special finance guru Greg Goebel.

Tags: Greg Goebel, Industry Summit 2014, special finance, Used Car Retailing

April 23, 2014 - Industry News

Autosoft Adds Carfolks to Integration Program

Carfolks, an integrated marketing and employee-retention solution, has become a partner in Autosoft’s third-party integration program, FLEX Connect.

Tags: AutoSoft, Carfolks, DMS, DMS integration

April 23, 2014 - Industry News

J.D. Power Acquires Korrelate

The addition of the measurement and analytics firm expands J.D. Power’s capabilities to measure the effectiveness of digital advertising spending.

Tags: digital marketing, J.D. Power and Associates, Korrelate