February 25, 2014 - Industry News
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
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
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
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
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
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
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
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
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.
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
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
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
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
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
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
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
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
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
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
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 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 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
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 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
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
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