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October 28, 2014 - Industry News

Industry Could Realize Best October Since 2004, Say Analysts

The October retail sales forecasts from J.D. Power and Kelly Blue Book are in, and they are predicting a solid sales performance in what is traditionally the second weakest month of the year for car sales.

Tags: J.D. Power and Associates, KBB.com, October sales, SAAR

October 28, 2014 - Industry News

Complí Receives 2014 GRC Value Award

The compliance management software provider was recognized by GRC 20/20 for the value it provided to Tricolor Auto Group. The auto group cut time spent on compliance management in half using solutions from Complí, officials said.

Tags: Awards, Compli, GRC

October 23, 2014 - Industry News

Sonic’s Hybrid F&I Pilot Experiences Training, Staffing Issues

Officials said the Charlotte test store was overwhelmed by sales and paperwork. F&I performance rebounded, however, after the group added document specialists.

Tags: F&I , F&I Revenue, One Sonic-One Experience, Quarterly Earnings, Sonic Automotive

October 23, 2014 - Industry News

Edmunds Pulls Ad Campaign, Says It ‘Missed the Mark’

Edmunds' 'Absurdity of Haggling' campaign included four YouTube videos that depict a cashier trying to overcharge customers for items at a grocery store, then haggling with shoppers who refused to pay. 

Edmunds pulled an online ad campaign last week for its Price Promise program after dealers complained it portrayed them as ‘bad guys’ in the car-shopping process.

Tags: Edmunds, Edmunds.com, haggle, Price Promise

October 22, 2014 - Industry News

Ariz. Dealership Employee Arrested For Embezzlement

Police believe the dealership lost between $13,000 and $25,000 when a service appointment coordinator began reversing charges for auto repairs and adding them to her personal credit card.

Tags: embezzlement

October 22, 2014 - Industry News

Spireon Introduces New CMS Platform

Spireon has introduced GoldStar CMS, a new collateral management platform designed to help auto finance companies reduce the time and costs related to funding and servicing automobile loans.

Tags: GPS devices, Spireon

October 22, 2014 - Industry News

ADM Reader Survey: Social Media

Auto Dealer Monthly is conducting a reader survey designed to gauge the effectiveness of social media in generating sales and service leads. Click on the headline to complete the brief survey.

October 22, 2014 - Industry News

Exeter’s Floyd Stepping Down from CEO Post

Mark Floyd will join Exeter's board of directors and will work with his replacement, Thomas Anderson, to ensure a smooth transition, the company said late yesterday.

Tags: Exeter Finance Corp., Mark Floyd, Subprime Auto ABS, subprime auto finance, Thomas Anderson

October 22, 2014 - Industry News

Mich. Governor Signs ‘Anti-Tesla’ Bill

Governor Rick Snyder signed into law yesterday tighter restrictions on selling vehicles directly to consumers. The new law now effectively bans Tesla Motors from selling vehicles in the state.

Tags: Electric Vehicles, Franchised Dealerships, Governor Rick Snyder, Michigan, Tesla, Tesla Motors

October 21, 2014 - Industry News

Used-Vehicle Price Adjustments Keep Retail Markets on Track, Manheim Reports

The 1.1% third-quarter decrease in the Manheim Used Vehicle Value Index didn’t set off alarms despite it being the fifth straight decline in used-vehicle prices. The firm’s chief economist noted that the drop helped dealers increase vehicle turns as the market continues to inch toward more normal levels.

October 21, 2014 - Industry News

Facebook Playing Bigger Role in Dealer Selection, Study Shows

A survey of 2,000 consumers revealed that Facebook is now among the Top 5 dealer reviews sites used by car shoppers, with 75% of respondents indicating they trust reviews posted by friends on the social media site vs. reviews posted on other sites by people they don't know.

October 21, 2014 - Industry News

Auto/Mate Integrates Document Management System With DMS

Auto/Mate completes integration of etfile's electronic document management solution with its dealers management system, the company announced this week.

Tags: Auto/Mate, CRM, DMS, DMS integration, electronic document storage

October 16, 2014 - Industry News

Inaugural Compliance Summit Set for Nov. 10-11

The new event is designed to offer actionable compliance solutions to dealers and their partners. It will be held at the Seminole Hard Rock Hotel & Casino in Hollywood, Fla.

Tags: compliance, Compliance Summit

October 15, 2014 - Industry News

eLEND Solutions Launches Credit Application Platform

The firm’s CreditPlus is an interactive credit application platform that instantly preapproves shoppers based on the dealer’s defined credit criteria. Consumers can also view their credit score and pick their payments.

Tags: CreditPlus, eLEND, Internet Shopper, online credit application

October 15, 2014 - Industry News

TrueCar Dealers to Dislcose Doc Fees, Accessory Pricing

TrueCar's 9,000 certified dealers have agreed to disclose costs for vehicle accessories and non-governmental doc fees under the firm's new 'No Surprises' initiative.

Tags: certified dealers, online shoppers, TrueCar

October 15, 2014 - Industry News

Kontos: Wholesale Used-Vehicle Prices Soften Again in September

Wholesale used-vehicle prices softened for the fifth straight month in a row, ADESA reported this week. But improved retail sales of used vehicles helped cushion the blow from growing supply.

October 14, 2014 - Industry News

AutoLoop Call Center Looks For Lost Sales

The service was previously known as Showroom Watchdog, but it was rebranded as Engage when AutoLoop purchased CAR-Research XRM.

Tags: AutoLoop, CRM, Sales Tactics, Showroom Watchdog

October 14, 2014 - Industry News

Autoflicks Creates a Virtual Showroom With Video

Flick Fusion launched Autoflicks, a subscription-based service that provides dealerships with a virtual test drive experience for every vehicle in their inventory.

Tags: Flick Fusion, Video Advertising, Virtual Showroom

October 14, 2014 - Industry News

Dealertrack CRM Receives Reynolds Certification

Dealertrack’s CRM has been certified as part of the Reynolds Certified Interface Program, which provides a standardized approach to handling dealership data.

Tags: Certification, CRM, Dealertrack, DMS, Reynolds & Reynolds

October 14, 2014 - Industry News

Exeter Finance Corp. Announces $500 Million Securitization

Exeter announced this week the pricing of a $500 million securitization backed by auto loan receivables.

Tags: Exeter Finance Corp., securitizations

October 14, 2014 - Industry News

Ford, Carfax Expand Partnership in Certified Pre-Owned Sales

Ford and Carfax announced this week that they are expanding their relationship. Now, all Ford and Lincoln CPO vehicles will be listed on Carfax Used Car Listing.

Tags: Carfax, Carfax Vehicle History Report, certified pre-owned vehicles, Ford, Lincoln

October 13, 2014 - Industry News

Avg. New-Vehicle Transaction Price Up $3,900 Since 2009

New-vehicle retail sales through September were at their highest level since 2005, but the rise in new-vehicle transaction prices is what has really contributed to the industry's health this year, say J.D. Power analysts.

Tags: J.D. Power and Associates, new-vehicle sales, Power Information Network, Transaction Prices

October 13, 2014 - Industry News

Auto/Mate Integrates With Nissan’s Dealer System

Auto/Mate's dealership management system is now fully integrated with Nissan's dealer communication system, officials announced this week.

Tags: Auto/Mate, dealership management system, DMS integration, Nissan, Web Tools

October 9, 2014 - Industry News

Cox, Federal-Mogul Purchase Stake in AutoMD

Federal-Mogul Motorparts and Cox Automotive have purchased a minority stake in the free online automotive repair website, which previously operated as a wholly-owned subsidiary of U.S. Auto Parts Network Inc.

Tags: AutoMD, Cox Automotive, Federal-Mogul Motorsports

October 8, 2014 - Industry News

Former Salesman Files 2 Lawsuits Against Wash. Dealer Group

The former O’Brien Auto Group employee alleges he was fired after he complained about his general manager’s racist remarks. He also claims he was not paid according to his contract.

Tags: Lawsuit, sales