December 26, 2013 - Industry News
The Post and Courier reports that employees at two Charleston car dealerships schemed low-income buyers into buying vehicles they could not afford.
Tags: Fraud, Lawsuit
December 20, 2013 - Industry News
The settlement is the department’s third largest fair lending agreement and largest ever auto lending agreement.
Tags: Ally Bank, Ally Financial, CFPB, Consumer Financial Protection Bureau, discrimination, Dodd-Frank Act, Settlement
December 19, 2013 - Industry News
Dealertrack Technologies reports that an agreement is in place for the technology company to acquire Dealer.com. Dealertrack will retain the Dealer.com name and is expected to appoint CEO Rick Gibbs as executive vice president and group president of its digital marketing solution team.
Tags: Acquisition, automotive, car dealer, Dealer.com, Dealertrack, digital marketing, website
December 18, 2013 - Industry News
Dealers from across the country are finding different ways to celebrate the holidays in their stores. Check out our photo gallery to see how festive some stores are this year.
Tags: automotive, car dealer, Cars, Christmas, Dealership, holiday, photos, Santa
December 17, 2013 - Industry News
Following a critical piece in the New York Times on the arbitration clause found in its warranty statement, Hyundai drops the policy. The change came a week before the CFPB released its first report on the effect of arbitration agreements on consumers.
Tags: arbitration agreements, Brittany-Marie Swanson, Consumer Financial Protection Bureau, Hyundai
TD Bank officials said the company will trim down its 9,000 member U.S. dealer network in order to provide better service.
Tags: Brittany-Marie Swanson, dealer, Quarterly Earnings, TD Bank Group
Top search engines released their top search terms for the year, with Google’s annual Zeitgeist being released today. And according to results, auto-related searches were among the most popular search terms in 2014.
Tags: Chevy Volt, Internet shopper, online marketing, Tesla Motors, Volvo
December 16, 2013 - Industry News
Dealer advocate issues an impassioned appeal to dealers, arguing that 'chasing reviews" has done little to foster trust between dealers, manufacturers and car buyers.
December 10, 2013 - Industry News
Group 1 Automotive Inc. has completed the acquisition of Jay Automotive Group, which operates six franchises in Columbus, Ga.
Tags: Acquisition, Earl J. Hesterberg, Group 1 Automotive, Jay Automotive Group
Mary Barra was elected as GM’s new CEO by the company’s board of directors. She will replace Dan Akerson, who will retire on Jan. 15, 2014.
Tags: Alan Batey, Board of Directors, CEO, Dan Akerson, Dan Ammann, General Motors, Hiring, Mary Barra, retirement
December 5, 2013 - Industry News
Despite opposition from state dealers, the Iowa Department of Transportation has proposed a hike in registration fees from 5 to 6 percent. The state dealer association claims the increase will hurt sales.
Tags: Bruce Anderson, car dealer, Dealership, fee, Iowa, Iowa Automobile Dealers Association, New Vehicle Registrations, U.S. Department of Transportation
According to Autodata Corp., total light vehicle sales increased 8.9 percent form a year ago, while the SAAR reached its highest point this year.
December 3, 2013 - Industry News
A consumer advocacy group has filed a new ballot initiative with the California attorney general’s office. Part of the initiative aims to eliminate dealer markups, something California New Car Dealer Association President Brian Maas says would harm consumers.
Tags: Brian Maas, Brittany-Marie Swanson, California New Car Dealers Association, Consumer Financial Protection Bureau, discrimination, legislation
New-vehicle cash incentives reduce the price of used vehicles significantly more than finance and lease incentives, the NADA finds.
Tags: Incentives, NADA Used Car Guide, National Automobile Dealers Association, Used Vehicles
Longtime California dealer Joe Boccalero passed away on Nov. 27 at the age of 92. He served as the former president of Domenich Basso Inc. and operated a Chrysler Jeep dealership in Los Angeles for 40 years.
Tags: Domenich Basso Inc., Joe Boccalero
Dataium reports that shoppers spend nearly twice as long on a dealer’s website, are five times more likely to submit a lead, and are twice as likely to look at a vehicle when the dealer provides a Carfax Vehicle History Report.
November 27, 2013 - Industry News
Universal Lenders' Zero Plan joins more than 50 F&I product and service providers currently on the F&I Express network.
Tags: F&I Express, Intersection Technologies, Universal Lenders, Zero Plan
November 26, 2013 - Industry News
Maritz Research’s latest study reveals that 75 percent of customers who are in the market for a new car never hear from dealers.
Tags: Customer Retention, Maritz Research, Study
Lenders that provide excellence in the servicing and onboarding experiences from the beginning of the loan or lease process set the stage for customer satisfaction throughout the financing duration, according to the J.D. Power 2013 U.S. Consumer Financing Satisfaction Study.
Tags: Auto Loans, consumer financial habits, Customer Satisfaction, JD Power and Associates, Kia, Lincoln, Study
November 21, 2013 - Industry News
Advertising experts at this week's J.D. Power Western Automotive Conference discussed how dealers and automotive marketers can increase sales through multicultural marketing and media.
Tags: Acura, Gen Y, Honda, Hyundai, Infiniti, J.D. Power and Associates, Kia, Marketing, Nissan, television advertising
November 19, 2013 - Industry News
TrueCar ranked 154th on Deloitte’s Technology Fast 500, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America.
Tags: Deloitte, Technology, TrueCar
Michelle Morris has joined the social media giant as vertical lead for the auto segment. In her new role, Morris will work with auto manufacturers to build their brands.
Tags: facebook marketing, Faceboook, Hiring, manufacturers, online marketing, Social Media
November 14, 2013 - Industry News
On the eve of the CFPB’s first public forum on auto lending, a town council in New Jersey unanimously votes to settle a lawsuit centered on the disparate impact theory.
Tags: Brittany-Marie Swanson, CFPB, Consumer Financial Protection Bureau, discrimination, disparate, Equal Credit Opportunity Act (ECOA), Richard Cordray, Senate, Senate Banking Committee
The American Financial Services Association is commissioning a study to address the CFPB’s concerns for discrimination related to rate participation programs. It will also provide a cost-benefit analysis of alternative dealer compensation models.
Tags: AFSA Vehicle Finance Conference, CFPB, Equal Credit Opportunity Act
November 13, 2013 - Industry News
The transaction strengthens Intersection Technologies Inc.’s position as a leading technology and solutions provider to the automotive industry.
Tags: AutoTrader.com, F&I Express, Intersection Technologies
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