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June 29, 2014 - Industry News

Ed Bobit, founder and chairman of Bobit Business Media, has passed away

Ed Bobit, founder and chairman of Bobit Business Media, and publisher of Automotive Fleet magazine and many other media brands, passed away this morning at the age of 86. Last summer Bobit had undergone valve-replacement surgery and had been working primarily from home. He died peacefully in his sleep.

June 27, 2014 - Industry News

Allstate Selects New President for Dealer Services Division

Allstate Corp. has named a new president for its dealer services division, about four months after Doug Herberger resigned from the post. The company also named a new COO.

Tags: Allstate Dealer Services, Promotions

June 26, 2014 - Industry News

TrueCar Launches Product Incubator

The first application to be developed by TrueCar Labs will be “Sell My Car," a mobile application that enables consumers to get an upfront offer on their current vehicles.

Tags: John Krafcik, Mobile Applications, TrueCar

June 26, 2014 - Industry News

11 Consumer Groups Ask FTC to Crack Down on CarMax

A coalition of consumer-protection groups asked the FTC to investigate CarMax for selling recalled vehicles. CarMax officials claim the chain is doing the best it can with a broken system.

Tags: CARMAX, consumer advocates, Deceptive Advertising, Federal Trade Commission, Recall

June 25, 2014 - Industry News

New Tool Helps Dealers Send Recall Notifications

Recall Angel helps dealers quickly communicate OEM recall notifications to their customers so they can service those recalled vehicles effectively.

Tags: Dealer Software, vehicle recall

June 25, 2014 - Industry News

Dealership Buy/Sell Activity on Pace For Blockbuster Year, Firm Reports

Buy/sell activity is being driven by the fact that auto dealers are enjoying some of the best operating conditions in more than a decade, Haig Partners reports.

Tags: Acquisition, First Quarter, General Motors, Lithia Motors, vehicle recall

June 25, 2014 - Industry News

Rick Case Appointed First South Fla. Alfa Romeo Dealer

To celebrate the unveiling of the new store, the group will donate the first 2015 Alfa Romeo 4C to live auction, with 100% of the bid price over MSRP being donated to charity.

Tags: Acura, Audi, charity giving, Chrysler, Donation, Fiat, Honda, Hyundai, Kia, Mazda, Volkswagen

June 25, 2014 - Industry News

IHS Automotive: Loyalty Drives Gains in Automotive Market Share

In the first quarter, loyalty and conquesting efforts by manufacturers paid off in improved retail market share.

Tags: brand loyalty, Customer Loyalty, Ford, IHS Automotive, manufacturers, Mercedes-Benz, Nissan, Subaru, Toyota

June 24, 2014 - Industry News

TrueCar: Car Buyers, Dealers Have “Trust Gap”

Car buyers believe that dealers make about five times more profit on the sale of a new car than they actually do, according to a new study commissioned by TrueCar.

Tags: Customer Experience, Profitability, Survey, TrueCar

June 24, 2014 - Industry News

Dealertrack Expands Inventory Management Solution

Dealertrack Technologies’ all-new Inventory+ offers a vehicle trade-in quote module designed to help dealers win more trade-ins and convert more leads into sales. The tool also offers a fully integrated transportation tool.

Tags: Dealertrack, Inventory Management, trade-in value

June 24, 2014 - Industry News

Dealership Buy/Sell Activity Jumps 60% in Q1

The Kerrigan Quarterly Blue Sky Report also finds that blue sky pricing remains high for most franchises, with the market having established a pricing floor.

Tags: BMW, First Quarter, Honda, Lexus, Mercedes-Benz, Porsche, Report, Toyota, Vehicle Sales

June 18, 2014 - Industry News

Digital Air Strike Integrates With Edmunds

The integration allows a dealership’s DMS to trigger a customer survey and seamless feed that feedback to Edmunds.com.

Tags: Customer Reviews, Digital Air Strike, Edmunds.com, Systems Integration

June 18, 2014 - Industry News

Percentage of Older Vehicles in Operation Reaches Five-Year High, Experian Reports

More consumers are sticking with their older model vehicles, with vehicles predating the 2001 model year accounting for more than 28.3% of all vehicles on the road during the opening quarter of 2014, according to Experian Automotive.

Tags: Experian Automotive, pent up demand, Study

June 18, 2014 - Industry News

EasyCare Introduces New Bundled Option

The EasyCare Select package can be offered as an added value giveaway with available upgrades, or as a standalone package of benefits.

Tags: dent-and-ding, EasyCare, F&I products, paint and fabric

June 11, 2014 - Industry News

Wholesale Prices Soften in May

The softening of wholesale prices in May could be a precursor to further softening, according to Tom Kontos, chief economist for ADESA Analytical Services.

Tags: ADESA, Autodata Corp, CNW Research, Tom Kontos, Wholesale Pricing

June 11, 2014 - Industry News

June Incentives, Lease Deals Strong, Cars.com Reports

May turned out to be the second highest month for incentive spending so far this year. And Cars.com doesn’t expect OEMs to take their foot off the incentive pedal anytime soon.

Tags: Cars.com, Incentives, Trucks

June 11, 2014 - Industry News

Palo Verde Holdings Celebrates 15th Anniversary

Palo Verde Holdings Ltd., the noncontrolled foreign corporation of CNA National Warranty Corp., has grown its investment portfolio to nearly $150 million since it was founded in 1999.

Tags: CNA National, extended warranties, GAP, Tire and Wheel

June 9, 2014 - Industry News

EFG Companies Awarded ASE Blue Seal of Excellence

The National Institute of Automotive Service Excellence’s Blue Seal of Excellence signifies the level of expertise and knowledge of repair shop technicians and claims administrators.

Tags: Awards, EFG Companies, Hyundai

June 9, 2014 - Industry News

7 Financial Organizations Back Disparate Impact Amendment

Rep. Scott Garrett’s amendment to H.R. 4660 would prohibit funds made available by the act from being used for litigation that relies on the disparate impact theory.

Seven financial organizations issued a letter to the U.S. House of Representatives on May 29 in support of an amendment to an appropriations bill that would limit Justice Department litigation relying on the disparate impact theory of discrimination.

Tags: amendment, Consumer Financial Protection Bureau, Department of Justice, discrimination, disparate, legislation

June 9, 2014 - Industry News

Average Vehicle Age Remains Steady at 11.4 Years

The combined average age of all light vehicles on the road in the U.S. remained steady at 11.4 years. IHS says the average age is likely to remain at 11.4 years through 2015.

Tags: IHS Automotive

June 4, 2014 - Industry News

Consumers Believe Honda, Mercedes Provide Highest Quality, ALG Reports

Car buyers believe Honda and Mercedes-Benz deliver the highest quality vehicles, according to a report from ALG.

Tags: ALG, BMW, Honda, Lexus, Mercedes-Benz, Toyota, TrueCar, vehicle quality, Volkswagen

June 4, 2014 - Industry News

May Depreciation Levels Reveal Signs of Summer Slowdown, Black Book Reports

The average price of a used vehicle dipped slightly in May, according to Black Book. Analysts with the firm said they expect higher depreciation between now and the end of the year.

Tags: Black Book, BMW, Cadillac, car prices, Chevrolet, Ford, Honda, Mercedes-Benz, Toyota, Used Vehicles, used-vehicle values, vehicle depreciation

June 4, 2014 - Industry News

KBB: New-Car Transaction Prices Rise in May

May transaction prices for new vehicles were up 2.1% from a year ago. Compared to April, however, transactions prices were down $79, according to Kelley Blue Book.

Tags: Acura, Chrysler, Kelley Blue Book, Light-Vehicle Sales, Transaction Prices, Volkswagen

May 29, 2014 - Industry News

CPS to Pay $5.5 Million to Settle FTC Charges

The FTC charged the subprime finance source with using illegal tactics to service and collect on consumer loans, including collecting money consumers did not owe, harassing consumers and third parties, and disclosing debts to friends, family and employers.

Tags: Collections, CPS, FTC, subprime auto finance

May 29, 2014 - Industry News

CFPB Engaged in Fair-Lending Actions Against Six Auto Lenders

Citing an unnamed source, Auto Finance News reported earlier this month that the CFPB is engaged in fair-lending actions against six finance sources. Bureau officials decline to comment.