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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

April 22, 2014 - Industry News

AutoNation Sets F&I Record, Puts Lead Providers on Notice

F&I gross profit per vehicle retailed reached a record $1,407 for the nation’s largest dealer group, but the achievement was overshadowed by the warning executives issued to lead providers.

Tags: AutoNation, Lead Generation, Mike Jackson, Quarterly Earnings, TrueCar

April 22, 2014 - Industry News

DealerMatch, NAMAD Partner on Inventory Trading Network

Along with visibility into the entire DealerMatch marketplace, NAMAD members can access a private trading network that allows them to buy and sell inventory directly with fellow members.

April 22, 2014 - Industry News

Braskamp Joins Industry Summit 2014

The bank's director of national sales and originations will open Industry Summit 2014 with a keynote address on Monday, Sept. 8, at Paris Las Vegas.

Tags: Capital One Auto Finance, Industry Summit 2014

April 15, 2014 - Industry News

Pro Tesla Bill Won’t Go to Vote

A bill that would allow Tesla to sell directly to consumers won’t be voted on during Arizona’s current legislative session, which ends this week.

Tags: legislation, Tesla Motors

April 15, 2014 - Industry News

Mazda Canada Chooses Xtime for Service Retention

Mazda’s 163 dealership service departments in Canada are now using Xtime’s service scheduling and check-in platform.

Tags: DMS integration, Mazda Canada, Service, service scheduling, Xtime

April 14, 2014 - Industry News

Former CFPB Official to Deliver Keynote Address at Industry Summit 2014

The CFPB’s former point man will be at Industry Summit 2014 this September to deliver a keynote address. He will take attendees inside the media-shy agency and offer insights on how the bureau intends to regulate the automotive retail industry.

Tags: CFPB, Consumer Financial Protection Bureau, Gregory Arroyo, Hudson Cook LLP, Industry Summit, Richard Hackett

April 10, 2014 - Industry News

Washington Governor Signs Bill Favoring Tesla

A bill signed by Washington governor Jay Inslee this month will allow Tesla to expand in the state.

Tags: legislation, Tesla, Tesla Motors

April 10, 2014 - Industry News

J.D. Power: Prepaid Maintenance Fueling Brand Loyalty, Repurchase Rates

The percentage of vehicle owners with complimentary or prepaid vehicle maintenance packages has more than doubled during the past five years, according to a study by J.D. Power. The growth of such offerings is helping to drive up loyalty and repurchase rates for OEMs and dealers.

Tags: J.D. Power and Associates, Prepaid Maintenance, Vehicle Maintenance

April 10, 2014 - Industry News

J.D. Power: Social Media Impacting Purchase Decisions for All Generations

According to the J.D. Power’s 2014 Social Media Benchmark Study, customers are more likely to repurchase from the same brand if their social media and marketing experiences with that brand are positive.

Tags: Facebook, J.D. Power and Associates, Social Media, twitter, YouTube

April 10, 2014 - Industry News

U.S. Court of Appeals Rules in Favor of Dropped Chrysler Dealers

The court’s decision will allow the case pitting 148 defunct Chrysler dealerships against the U.S. government to proceed. The dealerships were closed as part of Chrysler’s 2009 bailout agreement.

Tags: bailout, Chrysler, court, Lawsuit, Leonard Bellavia

April 10, 2014 - Industry News

ADP Plans to Spin Off Dealer Services Business

The company expects to complete the separation of the two companies in the early part of the fourth quarter. Leading the Dealer Service business unit will be ADP executives Steve Anenen and Al Nietzel.

Tags: ADP, ADP Dealer Services, Al Nietzel, Carlos Rodriguez, Steve Anenen

April 9, 2014 - Industry News

Kelley Blue Book Announces 2014 Brand Image Award Winner

Honda holds onto its reign as best overall brand and most trusted brand, while Kia, GMC, Jaguar earn first Brand Image Awards.

Tags: Brand Image Awards, GMC, Honda, Jaguar, Kelley Blue Book, Kia

April 9, 2014 - Industry News

Aging Buyers Want Quality, Convenience, Study Shows

New auto purchasers are aging and that will have implications on many related areas, including service, according to Foresight Research.

Tags: Car Buyers, Customer Service, Foresight Research, Parts and Service

April 8, 2014 - Industry News

‘King of Lemon Laws’ Files Suit Against Tesla

Wisconsin Attorney Vince Megna filed a lawsuit against Tesla Motors this week, claiming that the car it sold to his client was a lemon.

Tags: Lawsuit, lemon law, Tesla, Tesla Motors

April 8, 2014 - Industry News

TrueCar Files for IPO

TrueCar filed a statement this week with the Securities and Exchange Commission for a proposed initial public offering of its common stock.

Tags: initial public offering, IPO, SEC filing, TrueCar

April 8, 2014 - Industry News

DealerRater Names New CEO

DealerRater has selected former J.D. Power executive Gary Tucker as its CEO. In his new role, Tucker will be responsible for leading the company through its next phase of growth.

Tags: DealerRater, employment, Hiring, J.D. Power and Associates

April 8, 2014 - Industry News

Manheim: Used-Vehicle Values Increase in Early 2014

Despite the harsh weather, used-vehicle sales continued to motor along in the first quarter of the year. Keeping demand high were insurance vehicle replacements and tax refunds.

Tags: First Quarter, Manheim, Used Vehicles, Used-Vehicle Sales

April 2, 2014 - Industry News

AutoLoop Recognized as Top Software Developer in Tampa Bay

The Tampa Bay Business Journal had the marketing solutions provider at No. 9 on its annual list, up four spots from last year’s ranking.

Tags: AutoLoop, software developer, Tampa

April 2, 2014 - Industry News

Cory Mosley Launches Sales Skills Seminar Series

The dealership consultant and magazine columnist will kick off his seminar series in Uniondale, N.Y. on April 22. The one-day, two-seminar program is designed to help showroom and Internet/BDC professionals become more influential with customers and increase their sales production.

Tags: BDC, Cory Mosley, internet sales, Sales Training, Training