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February 25, 2014 - Industry News

CNA Distributes Nearly $30 Million Through Dealer Participation Plans in 2013

CNA officials tout strength, stability and flexibility of its various participation plans after distributing approximately $30 million to dealers for the fourth consecutive year.

Tags: CNA National, Controlled Foreign Corp., dealer participation plans, Noncontrolled Foreign Corp., Reinsurance

February 25, 2014 - Industry News

Auto Loan Balances Reach New High in Q4, Experian Reports

Open automotive loan balances reached a new high in the end-of-year quarter, while delinquencies stayed below prerecession levels, according to Experian Automotive’s fourth-quarter data.

Tags: Experian Automotive

February 18, 2014 - Industry News

Federal Reserve Investigating CFPB’s Bloated Renovation Costs

The Federal Reserve is looking into costs associated with the Consumer Financial Protection Bureau's renovation of its headquarters, which have ballooned to three times the original estimate.

Tags: CFPB, Federal Reserve

February 18, 2014 - Industry News

Joe Verde Launches Goal-Setting Calculator for Salespeople

Joe Verde Sales & Management Training Inc. has released a new online goal-setting calculator, which can be used by salespeople to set realistic and achievable one-year improvement goals.

Tags: Joe Verde

February 18, 2014 - Industry News

TimeHighway Integrates With Auto/Mate’s DMS

TimeHighway has completed integration of its service scheduling solution with Auto/Mate's Automotive Management Productivity Suite DMS, allowing for a real-time data exchange between the two systems.

Tags: Auto/Mate, DMS integration, Mike Esposito, TimeHighway

February 18, 2014 - Industry News

Penske Holds Off on Adopting NADA Compliance Program

Officials with Penske Automotive Group, which reported a record fourth quarter, said the operation will “wait and see” when it comes to adopting the NADA’s new fair lending compliance program.

Tags: CFPB, compliance, Consumer Financial Protection Bureau, earnings, F&I sales, NADA, National Automobile Dealers Association, Penske Automotive Group, Quarterly Earnings, reserve

February 17, 2014 - Industry News

Dealer Count Slipping Into ‘New Normal,’ Urban Science Reports

Urban Science says the closure of 220 Suzuki franchises was largely responsible for the slight decrease in the dealer count last year. But analysts believe the industry may also be settling into a ‘new normal pattern’ in terms of its dealer count.

Tags: Automotive Franchise Activity Report, Urban Science

February 17, 2014 - Industry News

Seven Business Leaders Selected to Judge Edmunds.com's Hackomotive Event

The vehicle information site names the seven judges who will oversee its second annual Hackomotive event, a three-day contest in which participants develop products and ideas that promote a better car-shopping experience.

Tags: Edmunds.com, Hackomotive

February 13, 2014 - Industry News

Consumers Poised to Buy More Cars in 2014, Huntington Bank Reports

A survey conducted by Huntington Bank reveals that 22% of consumers in the states of Ohio, Michigan, West Virginia, Indiana and Western Pennsylvania are considering buying or leasing a vehicle in 2014, a one percentage point increase over last year.

February 13, 2014 - Industry News

Ohio Regulator Accuses Mich. Dealer of Advertising Violations

Ohio Attorney General Mike DeWine has filed a lawsuit against Monroe Dodge-Chrysler Inc., claiming the dealer advertised prices not all consumers qualified for and failed to disclose all required terms.

Tags: Deceptive Advertising, Mike DeWine, Ohio Attorney general

February 13, 2014 - Industry News

J.D. Power: Vehicle Dependability Declines for First Time in 15-Plus Years

The J.D. Power 2014 U.S. Vehicle Dependability Study found a 6% increase in vehicle problems from last year. It was the first time since 1998 that the average number of problems has increased.

Tags: J.D. Power and Associates, Vehicle Dependability, vehicle service contracts

February 11, 2014 - Industry News

BLS: Auto Industry Adds 42,000 Jobs Since Last Year

Source: Bureau of Labor Statistics

The Bureau of Labor Statistics reports that auto dealers have added 42,000 jobs since January 2013, pushing total employee count to just north of 1.16 million.

Tags: automotive, BLS, Bureau of Labor Statistics, dealer, employment, income, job growth, Labor

February 11, 2014 - Industry News

Dataium: Game Day Ads Drive Dealer Website Traffic

Maserati, Jeep and Jaguar dealer websites experienced increases in online shopping activity following the Super Bowl.

Tags: Dataium, Jaguar, Jeep, Maserati, Super Bowl, television advertising

February 11, 2014 - Industry News

Edmunds.com: Falling Used-Car Prices Likely to Affect All Buyers

An excessive supply of used vehicles hitting dealer lots is expected to drive prices down and cause a chain reaction that could raise monthly payments and lower trade-in values.

Tags: car prices, certified pre-owned vehicles, Edmunds.com, residual values, Used Vehicles, vehicle leasing

February 11, 2014 - Industry News

FTC Settles With Two Dealers for Deceptive Advertising

By unanimous vote, the Federal Trade Commission approves final orders settling charges against two dealers for deceptive advertising.

Tags: car dealer, Deceptive Advertising, Federal Trade Commission, FTC, Settlement

February 6, 2014 - Industry News

Digital Air Strike Names Winners of Social Media and Reputation Awards

The reputation-management company announced the winners of its second annual Social Media and Reputation awards, recognizing dealers and vehicle OEMs in 15 categories.

Tags: Awards, Cars.com, Digital Air Strike, Edmunds.com, google+, NADA Convention & Expo, National Automobile Dealers Association, online reputation management, Social Media, Yahoo! Autos, Yelp, YouTube

February 5, 2014 - Industry News

Bloomberg: Tesla Squeezes in to Consumer Reports’ Top 5 Brands

In Consumer Reports’ latest poll, Tesla ranks in the Top 5 brands among consumers it surveyed, rising from the 11th spot last year to No. 5.

Tags: Consumer Reports, Tesla

February 4, 2014 - Industry News

NADA Adds Guidance for Dealers about Data

The NADA issued at its annual convention an addendum to the dealer data guidance it released this past summer. It includes a sample vendor agreement that lays out limitations on what data tech vendors can access from dealers.

Tags: Data, dealership management system, Federal Trade Commission, identity theft, NADA Convention & Expo, National Automobile Dealers Association, Senate Banking Committee

February 4, 2014 - Industry News

Move to Flats Unlikely in 2014, Says AutoNation’s Jackson

AutoNation’s chief executive says he doesn’t expect the CFPB to eliminate rate participation, but he admits to not knowing ‘the end of the story yet.’

Tags: AutoNation, Consumer Financial Protection Bureau, National Automobile Dealers Association, profit, Quarterly Earnings

January 30, 2014 - Industry News

Google Cars Beta Program Discontinued

The beta program for Google Cars has ended, but the tech firm says the stoppage is only temporary as it works on the ‘next version’ of its vehicle-shopping tool.

Tags: Google, online marketplace

January 29, 2014 - Industry News

Manheim, AutoTrader Group Name Automotive Woman of the Year

Manheim and AutoTrader Group presented the Barbara Cox Anthony Automotive Woman of the Year award to Susan Scarola, vice chairman of DCH Auto Group.

January 28, 2014 - Industry News

DealerRater Announces 2014 Dealer of the Year Award Winners

DealerRater honors top U.S. and Canadian car dealers for outstanding customer satisfaction based on customers’ online reviews posted on DealerRater’s website.

Tags: car dealer, Dealer Review Sites, DealerRater, NADA, New Orleans

January 28, 2014 - Industry News

Hillary Clinton Praises Dealers’ Role in Economic Recovery

Clinton told dealers during the National Automobile Dealers Association Convention & Expo in New Orleans this week that building and selling cars 'helped create the American middle class.'

Tags: auto dealer, car dealer, economic recovery, economy, Hillary Clinton, NADA, NADA Convention & Expo, New Orleans

January 27, 2014 - Industry News

Zurich Helping Dealers Navigate CFPB's Fair Lending Review

Zurich North America worked with Hudson Cook on guidance to help auto dealers protect their dealerships from allegations of unfair lending practices.

Tags: auto dealer, CFPB, compliance, fair lending, Hudson Cook LLP, regulation, Zurich

January 27, 2014 - Industry News

Dealertrack Debuts DMS 2.0

New graphical user interface and enhanced mobility are among the key features of Dealertrack DMS 2.0.

Tags: app, auto dealer, car dealer, dealer management system, Dealertrack, DMS 2.0, Mobile, NADA