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May 15, 2014 - Industry News

DOJ Investigating Fifth Third Bank’s Auto Lending Practices

Photo via Flickr.

Fifth Third Bancorp revealed in a regulatory filing this month that its indirect auto loan portfolio is being examined by the Department of Justice to determine whether the finance source engaged in discriminatory practices.

Tags: Auto Loans, CFPB, Consumer Financial Protection Bureau, Department of Justice, discrimination, Fifth Third, Investigation

May 14, 2014 - Industry News

Calif. New-Vehicle Registrations Up 5.4% in Q1

New-vehicle sales in California improved for the 14th consecutive quarter in the opening quarter of 2014, with new-vehicle registration increasing 5.4% from a year ago, according to the state association.

Tags: Brian Maas, California New Car Dealers Association, Honda, Hybrid Vehicle, Tesla Motors, Toyota

May 14, 2014 - Industry News

Study: Moms Prefer to Shop Online and Negotiate in Person

A new study shows that 73% of mothers consider themselves to be the “sole decision-maker” in the vehicle-shopping process. And more than half of them still prefer to conduct negotiations in person.

Tags: car shopper, Car Shopping, Cars.com, Study

May 14, 2014 - Industry News

Ally Announces Auto Auction Award Winners

Top honors went to ABC St. Louis Auto Action, which won for the second year in a row. Dealer Auto Auction of Oklahoma City and Adesa Los Angeles were also recognized.

Tags: Ally Financial, Auto Auctions, Awards, SmartAuction

May 7, 2014 - Industry News

VisionMenu Adds Five Product Providers to vRate Platform

VisionMenu has added ASI, GWC Warranty, PCMI, Premier Dealer Services, and RoadVantage to its vRate platform, which allows F&I managers to rate multiple providers and multiple products simultaneously.

Tags: eContracting, Ron Martin, VisionMenu Inc.

May 7, 2014 - Industry News

CallSource Adds IHS Data to Sales Profit Management System

CallSource has partnered with IHS Automotive to deliver reporting and analytics to users of its Sales Profit Management system.

Tags: Analytics, CallSource, IHS Automotive

May 7, 2014 - Industry News

FTC Approves Final Consent Orders Against 10 Dealers

The FTC has approved final consent orders involving the deceptive advertising practices of 10 dealerships. The cases were part of Operation Steer Clear, a nationwide sweep focusing on misleading advertising.

Tags: Deceptive Advertising, Deceptive Practices, Federal Trade Commission, Truth in Lending Act

May 7, 2014 - Industry News

Dealers' Choice Awards: Cast Your Vote Today

Voting for the 2014 Dealers’ Choice Awards is now open. Readers of the magazine can now cast their vote for the top vendors, consultants and trainers.

Tags: Auto Dealer Monthly, Dealers' Choice Awards

May 1, 2014 - Industry News

Former Hyundai CEO Named President of TrueCar

John Krafcik, former Hyundai Motor America's president and CEO, has been named president of Web-based dealer network TrueCar.

Tags: Hyundai, TrueCar

April 30, 2014 - Industry News

Missouri Attorney General Obtains Order Against Dealership

Attorney General Chris Koster obtained a preliminary injunction against an auto dealership this week, preventing it from selling, advertising or transferring vehicles within Missouri. The dealership’s owners are accused of selling stolen vehicles.

April 30, 2014 - Industry News

KBB: Majority of New-Car Shoppers Unaffected by GM Recall

The vehicle information site says Toyota’s 2009 recall is more memorable than General Motors recent issues with consumers, who, according to survey data, continue to consider GM brands.

April 30, 2014 - Industry News

Black Book Partners With Cars.com

Black Book will now offer Cars.com customers the benefit of leveraging the same Black Book valuation used by car dealers when pricing their vehicle.

April 29, 2014 - Industry News

Auto/Mate Receives Top Workplaces Award

For the third consecutive year, Auto/Mate Dealership Systems was selected by The Times Union as one of the Top Workplaces in New York's Capital Region.

Tags: Auto/Mate, Best Places to Work, employee

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