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December 17, 2013 - Industry News

Hyundai Drops Arbitration Clause

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

December 17, 2013 - Industry News

TD Bank to Trim U.S. Dealer Network

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

December 17, 2013 - Industry News

Trending in 2013: Tesla, Jean Claude Van Damme’s Volvo Splits and Chevy Volt

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

CarFolks’ Dubis Says ‘It’s Not About the Reviews’

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 Acquires Ga.-Based Auto Group

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

December 10, 2013 - Industry News

Mary Barra to Replace Retiring Akerson as GM CEO

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

Iowa Dealers Protesting Proposed Hike in Registration Fees

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

December 5, 2013 - Industry News

November SAAR Reaches 16.41 Million Units

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

Consumer Group Seeks to Eliminate Rate Markups in California

Rosemary Shahan, president of CARS, speaks at the CFPB's first public forum on auto lending in November.

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

December 3, 2013 - Industry News

NADA Report: Cash Incentives Negatively Influence Used-Car Pricing

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

December 3, 2013 - Industry News

Dealer Joe Boccalero Passes Away

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

December 3, 2013 - Industry News

Dataium Study: Carfax Reports Drive Lead Conversions

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

F&I Express Adds Universal’ Zero Plan to eContracting Platform

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: Car Shopping a Lonely Journey, Dealers Missing Opportunities

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

November 26, 2013 - Industry News

J.D. Power: Lender Service Determines Customer Satisfaction With Financing

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

Multicultural Marketing Faces New Challenges

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 Ranks Among Fastest Growing Tech Companies

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

November 19, 2013 - Industry News

Facebook Hires New Auto Sales Team Member

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

Disparate Impact Challenge Ends in Settlement on Eve of CFPB Forum

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

November 14, 2013 - Industry News

Trade Group Commissions Study to Address CFPB's Fair Lending Concerns

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

Intersection Technologies Inc. Closes Series B Financing Led by AutoTrader Group

The transaction strengthens Intersection Technologies Inc.’s position as a leading technology and solutions provider to the automotive industry.

Tags:, F&I Express, Intersection Technologies

November 12, 2013 - Industry News

F&I Offers Highest Income Potential, NADA Workforce Study Reveals

Produced in partnership with DeltaTrends, the comprehensive report analyzes a vast array of data on dealership trends to help dealers manage their workforce. Among its many findings, the report shows F&I managers as having the highest income growth potential vs. other departments.

Tags: 2013 Dealership Workforce Study Industry Report, David Westcott, Generation Y, NADA, National Automobile Dealers Association, OEM

November 12, 2013 - Industry News

AutoUSA: Financing Tools Generate Best Website Leads

More than half of the respondents of the AutoUSA annual Internet marketing survey said online credit applications were the best source of online leads. Nearly as many dealers indicated that chat applications were the best source.

Tags: AutoUSA, Internet Leads, objection handling, Survey, website

November 7, 2013 - Industry News

Ohio AG Seeks $11K Reimbursement From Used-Car Dealership

Ohio Attorney General Mike DeWine is suing a used-car dealership for failing to deliver motor vehicle titles to car buyers. He seeks $11,800 in restitution for customers.

Tags: Attorney General, Lawsuit, Ohio, vehicle title

November 5, 2013 - Industry News

CFPB Responds to Senators’ Demands

CFPB Director Richard Cordray responded Monday to lawmaker demands for information on the bureau’s investigation of the indirect financing channel. The director delivered his response a day before Ally revealed in a filing with the SEC that it may be facing ECOA violations.

Tags: Ally Financial, Brittany-Marie Swanson, CFPB, Consumer Financial Protection Bureau, ECOA, NADA, Richard Cordray