February 17, 2015 - Industry News
To date, the F&I product provider has returned $329 million through its dealer participation plans, with company officials noting that 2014 distributions exceeded the highest return since the inception of those programs.
Tags: CNA National, dealer participation plans, F&I office, reinsurance
Ricky Beggs will retire from Black Book on April 1 as one of the leading authorities in the vehicle remarketing industry, ending a 34-year career with the used-vehicle data provider.
Tags: Black Book, Online Marketing, remarketing, Retirement
The FTC unanimously approved a final order settling its deceptive advertising complaint against Dallas-based Trophy Nissan, which was charged on Dec. 23 with violating the FTC Act, the Consumer Leasing Act and the Truth in Lending Act.
Tags: Consumer leasing Act, Deceptive Advertising, Federal Trade Commission, Regulation M, Regulation Z, Trophy Nissan, Truth in Lending Act
Two used-car dealerships and their owner reached a settlement this month with the Department of Justice and the state attorney general. The settlement resolves a lawsuit that alleged the dealerships charged African American buyers more for loans and repossessed vehicles without reasonable notice.
Tags: Attorney General, Department of Justice, discrimination, fair lending, GPS devices, Lawsuit, North Carolina, Repossessions
Hyundai dealers across the United States will now have the ability to incorporate Dealertrack’s integrated websites, inventory merchandising, digital retailing and advertising tools into their dealership’s digital marketing strategies and operations.
Tags: Dealer Websites, Dealer.com, Dealertrack, digital marketing, Hyundai, Online Marketing
February 11, 2015 - Industry News
Consumer confidence is expected to continue to rise, resulting in potential shift to larger vehicles in the U.S. and Canada, thanks to low oil prices.
Tags: consumer confidence, Gas Prices, IHS Automotive
Bob Wade Autoworld has become the exclusive MOTOR TREND Certified Dealer in Harrisonburg, Va.
Tags: certified pre-owned vehicles, Motor Trend, Virginia
Manheim operating locations in Chicago, New York, Pennsylvania and St. Louis were recognized by the Ford Auction Service Award Program.
Tags: Auto Auctions, Awards, Ford, Manheim
February 10, 2015 - Industry News
Lease registrations have improved by an annual average of 18% since 2011, according to the NADA’s most recent installment of its Used Car Guide Perspective report.
Tags: Forecast, leasing, NADA Used Car Guide
Todd Clarke was promoted to vice president and general counsel for Southeast Toyota Distributors and JM Lexus, businesses of parent company JM Family Enterprises.
Tags: JM Family, Promotions
The website, called “Tesla Crash,” was launched by the Connecticut Automotive Retailers Association in response to a bill that would allow the electric automaker to sell directly to consumers in the state.
Tags: Franchised Dealerships, legislation, Tesla, Tesla Motors
EFG's Karen Klees became one of the first 100 compliance officers to earn certification under the NAF Association's new program. Last April, the company's entire dealer services team earned AFIP certification.
Tags: AFIP, Consumer Credit Compliance Certification, EFG Companies, NAF Association
Earlier this month, Idaho’s House Transportation and Defense Committee narrowly affirmed regulations that would mandate how long car dealers should be open each week.
Tags: Idaho, legislation
February 5, 2015 - Industry News
GM Financial officials said Ally shouldn’t be surprised by GM’s decision to internalize its lease program. The company ended the year with a 50% share of GM’s lease business.
Tags: Ally Financial, Fourth Quarter, General Motors, GM Financial, leasing, Quarterly Earnings
January’s total new-vehicle sales increased 13.7% from a year ago to 1.51 million units, according to Autodata Corp. January’s seasonally adjusted annual rate was 16.66 million, a slight dip from the 16.92 million SAAR recorded in December.
February 4, 2015 - Industry News
Risk and asset management software and services provider Solera Holdings has acquired Service Dynamics to enhance its digital offerings for dealers.
Tags: Acquisition, AutoPoint, Parts and Service, technology
AutoWeb is a new free vehicle search engine designed to help car shoppers search for and find a vehicle based on specific search criteria.
Tags: social media marketing, vehicle search, Website
The Next Up was awarded an Automotive Website Award in the Sales Process category by PCG Digital Consulting during the NADA Convention in Las Vegas.
Tags: Awards, NADA, sales manager, Sales Process, The Next Up
Rep. Ken Ivory (R-Utah) has introduced legislation that would send the sales-tax revenue from car sales to the hometown of the car buyer, instead of the city where the dealership is located.
Tags: legislation, sales tax, Utah
The owner and operator of a Pennsylvania dealership has been accused of taking money from at least 40 customers and not submitting title and registration paperwork and fees to the state’s Department of Transportation.
Tags: compliance, fraud, vehicle title
February 3, 2015 - Industry News
Jeffrey Brown, who headed up Ally’s dealer-financial services business, will succeed Michael Carpenter, who is retiring from his post and from the company’s board after five years.
Tags: Ally Financial, Jeffrey Brown, Michael A. Carpenter
Vehicle depreciation is expected to increase in 2015 as a larger used-car supply and off-lease volumes place pressure on retention rates, according to a report from Black Book and Fitch Ratings.
Tags: Black Book, Fitch Ratings, Report, used-vehicle values, vehicle depreciation
The research firm attributed the 2% gain in used-vehicle sales to higher CPO sales and a growing inventory of fresh off-lease vehicles. Even independents felt the trickledown effect of quality used vehicles.
Tags: CNW Research, Used-Car Sales
Flick Fusion added 2015 make and model-year cars to its expanded library of PicMotion new vehicle inventory videos.
Tags: Flick Fusion, Online Marketing, Video Advertising
Mercedes-Benz and BMW saw significant traffic spikes on Edmunds.com after ads from the two companies ran during the Super Bowl, according to real-time analysis from Edmunds.com.
Tags: BMW, commercials, Edmunds.com, Mercedes-Benz, Super Bowl
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