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February 27, 2014 - Industry News Projects Highest February SAAR Since 2008 analyst predicts that new-vehicle sales in February will be up 1.1% from a year ago. He also put the industry SAAR at 15.4 million — the highest selling rate since February 2008.

Tags:, Jesse Toprak, SAAR

February 27, 2014 - Industry News

TransUnion: Auto Debt Rises Again, Deliquencies Remain Subdued

TransUnion reported this week that auto loan debt per borrow increased for the 11th straight quarter, while delinquencies remained below the fourth quarter average observed between 2007 and 2013.

February 25, 2014 - Industry News

Frazer Software Integrates Preferred Warranties' eContract Portal

Independent dealers using Frazer management software and offering Preferred Warranties' extended service contracts for pre-owned vehicles can now import data from their DMS directly into Preferred’s econtract portal.

Tags: Frazer Software, Preferred Warranties

February 25, 2014 - Industry News

EFG Partners With Auto Financial Group to Expand Balloon Financing Product

The partnership aims to drive up market share of Auto Financial Group’s DrivingSense option, a hybrid financing product that acts like a lease.

Tags: Auto Financial Group, Balloon Loan Program, DrivingSense, EFG Companies

February 25, 2014 - Industry News

Larry H. Miller CEO to Appear on ‘Undercover Boss’

The company’s chief executive is set to appear on the Emmy Award-winning show on Feb. 28. The episode will focus on the Utah Jazz and game-night operations at EnergySolutions Arena.

Tags: CBS, Greg Miller, Larry H. Miller Dealerships, Undercover Boss

February 25, 2014 - Industry News

Digital Air Strike Launches Social Media App

The company claims to have the first social media app that operates on the Microsoft Windows 8.1 platform. It is designed to allow dealers to manage their social media profiles and online reputation in real time.

Tags: Digital Air Strike

February 25, 2014 - Industry News

Manheim to Purchase Stake in Go Financial

The provider of vehicle remarketing services signs agreement to purchase an equity stake in the subprime finance source. The transaction is expected to close in June.

Tags: GO Financial, Manheim, NextGear Capital

February 25, 2014 - Industry News

Light Vehicle Sales Rebounding in Late February, JD Power and LMC Report

Early returns for the month of February show sales of light vehicles rebounding after being hampered by severe weather disruptions in much of the United States.

Tags: JD Power, Light-Vehicle Sales, LMC Automotive, SAAR

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'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:, 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 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,, 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,, Digital Air Strike,, 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