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September 8, 2016 - Industry News

J.D. Power Sale Complete

J.D. Power’s sale to XIO Group in London for $1.1 billion was completed this week, the global alternative investments firm announced on Wednesday. J.D. Power will remain headquartered in Costa Mesa, Calif., and will continue to be led by its existing management team.

Tags: Finbarr O'Neill, J.D. Power, XIO Group

September 7, 2016 - Industry News

DealersLink Expands Into Illinois as Part of Nationwide Rollout Plan

DealersLink announced this week it has expanded into Illinois. According to the company, it is aggressively signing on new dealerships in Illinois and plans further expansion into other Midwest markets.

Tags: DealersLink, Technology, Wholesale

September 7, 2016 - Industry News

TEGNA to Spin Off Cars.com

Almost a year after purchasing full ownership of Cars.com, the company formerly known as Gannett announced on Wednesday plans to spin-off the digital automotive marketplace into an independent publicly trade company.

Tags: Cars.com, Digital Marketing, Gannett

September 7, 2016 - Industry News

KAR Auction Services Names New Senior Vice President

Stacey White, senior vice president of enterprise optimization.

KAR Auction Services Inc. has promoted Stacey White to senior vice president of enterprise optimization. The more than 20-year veteran of the auto remarketing industry will maintain her prior duties while also overseeing the company’s procurement and sourcing strategies.

Tags: KAR Auction Services, Promotion, Vice President

September 6, 2016 - Industry News

Five Star Ford of Lewisville Wins F&I Dealer of the Year Award

Texas-based Sam Pack’s Five Star Ford of Lewisville was named F&I and Showroom’s 2016 F&I Dealer of the Year. The award was handed out last Wednesday during the magazine’s annual Industry Summit.

Tags: Awards, Dealership, F&I Dealer of the Year, F&I Pacesetters, Sam Pack's Five Star Ford of Lewisville

September 6, 2016 - Industry News

Manheim Names General Manager for Baltimore-Washington Region

Manheim has appointed John Eriksen as general manager of Manheim Baltimore-Washington, according to a company announcement. In his new role, he will concentrate on serving clients and improving their auction experienced, the company stated.

Tags: Auto Auction, General Manager, Manheim

September 6, 2016 - Industry News

CU Direct Reaches New Milestone

Credit unions funded a record 529,000 auto loans through CU Direct’s Lending 360 and CUDL platforms in the first half of 2016. That amounts to more than $16.1 billion in funded automotive loans.

Tags: Auto Loans, Credit Unions, CU Direct Corporation, CUDL

September 6, 2016 - Industry News

Experian: Q2 Auto Finance Data Doesn’t Support Subprime Bubble Talk

Finance sources made more than five times as many loans to superprime customers than deep-subprime customers during the second quarter. Delinquencies were up only slightly, but balanced loan portfolios and stable automotive lending continued to quash subprime bubble fears, Experian reports.

September 6, 2016 - Industry News

Shane O'Dell Returns to NextGear

Cox Automotive has named Shane O’ Dell president of financial solutions. The former Manheim exec will oversee NextGear Capital, where he served as COO before joining Manheim as senior vice president of vehicle solutions.

Tags: Cox Automotive, NextGear Capital, Promotion

September 6, 2016 - Industry News

Alpha Warranty Release Limited Lifetime Warranty and New Wrap Protection

Alpha Warranty announced the release of its DriveEasy Limited Lifetime Powertrain Warranty and its DriveEasy Wrap Protection vehicle service contract. The later provides up to five years and 100,000 miles of additional coverage, and is designed to complement the limited lifetime powertrain warranty,

Tags: Alpha Warranty Corp., Vehicle Service Contract, Warranty

September 6, 2016 - Industry News

RouteOne Names Key Directors to Executive Roles

RouteOne announced that Scott Johnsen, Amanda George and Jeff Belanger are transitioning from their directors roles to new executive positions.

Tags: F&I, RouteOne, Vice President

September 1, 2016 - Industry News

Frazer and F&I Express Announce Partnership

More than 16,000 independent dealerships will gain the ability to digitally rate, econtract, capture electronic signatures and submit contracts for more than 130 F&I aftermarket product provider as part of a recently announced partnership between Frazer and F&I Express.

Tags: Dealer Software, F&I Express, Frazer Software, Partnership

September 1, 2016 - Industry News

Dealertrack to Offer F&I Express' Express Recoveries Solution

Dealertrack announced this week that it will be marketing and selling F&I Express’ Express Recoveries Solution through its platform beginning later this year on Oct. 1. The offering will provide lenders and consumers a refund of the unused portion of their aftermarket contracts, according to the company.

Tags: Aftermarket Products, Dealer Software, Dealertrack, F&I Express

September 1, 2016 - Industry News

Walser Automotive Group Acquires Wichita Luxury Collection

WLC will add 10 luxury brands, including Acura, Audi, BMW, Jaguar, Land Rover, Lexus, Mercedes-Benz, MINI, Porsche and AMG, to Walser's existing 15 franchises, according to the company.

Tags: Acquisition, Dealer Group, Dealership, Luxury Vehicles

September 1, 2016 - Industry News

Mazda Launches New Website to Address Recall Completions

On Tuesday, Mazda North American Operations launched the Mazda Recall Information Center as part of an effort increase recall completions. The new website is only part of the company's initiative to ensure recalls are completed quickly and efficiently.

Tags: Customer Satisfaction, Mazda, Recalls

September 1, 2016 - Industry News

Volkswagen to Offer New Models at Lower Prices, Residuals May Suffer

Volkswagen will begin offering its new models for lower prices and provide dealers with a broader product range in a move that could lower residual values if incentives remain high, according to an industry expert.

Tags: Incentives, New Vehicle Prices, Volkswagen

August 26, 2016 - Industry News

Jury Clears GM in Texas Ignition Switch Trial

In a verdict that took less than an hour to decide, a Houston Jury found that a General Motors ignition switch in a 2007 Saturn Sky did not cause a 2011 crash that killed one person and injured another, according to USA Today.

Tags: Court Decision, General Motors, Ignition Switch

August 26, 2016 - Industry News

Spireon Offers Dealers New F&I Profit Channel

Spireon Inc. announced that its GPS-based vehicle telematics solution Spireon SkyLink will now give dealers the ability to offer connected car services to their customers, opening the door to a new F&I profit center.

Tags: Connected Vehicle, F&I, Spireon

August 25, 2016 - Industry News

Florida Toyota Dealer Now Offers Door-to-Door Test Drives

Sun Toyota introduced today a new door-to-door vehicle delivery service that brings the dealership's showroom directly to a customer's home or office.

Tags: Dealership, Online Shopping, Test Drive

August 25, 2016 - Industry News

GWC Warranty Names New Marketing Manager

Melissa Roberts has joined GWC Warranty as its new marketing manager. She will be responsible for developing and implementing a customer strategy focused on engaging and retaining GWC partners.

Tags: GWC Warranty Corporation, Hire, Marketing

August 25, 2016 - Industry News

Growing Student Debt Expected to Hurt Retailers, Moody's Warns

The largest share of outstanding student loans is held by graduates age 30 to 39, according to the firm. Many of these graduates belong to the millennial generation, which, according to Pew Research, have overtaken Baby Boomers as the nation’s largest living generation.

Tags: Moody's, Report, Retail Sales, Student Loan

August 25, 2016 - Industry News

Black Book: Wholesale Car Values Falling at Fastest Pace This Year

The wholesale value of 2008-2014 model-year cars continued to fall last week, according to Black Book’s Market Insights report. While many of the familiar trends — trucks performing better than cars — were present, there were some outliers.

Tags: Black Book, Depreciation, Wholesale, Wholesale Values

August 25, 2016 - Industry News

AIAG Adds New Member to Board of Directors

The Automotive Industry Action Group (AIAG) has appointed Cesar D. Pucci, director of corporate quality at Eaton Corporation, to its board of directors. He joins the more than 20 executives from the OEM and supplier community who currently serve on the AIAG board.

Tags: AIAG, Automotive Industry Action Group, Board of Directors

August 25, 2016 - Industry News

Amazon Enters the Vehicle-Shopping Business

Photo: Business Wire

The ecommerce site stopped short of saying it's looking to compete against lead sites like Cars.com, TrueCar, and Edmunds.com, describing its new web page as a car research destination and automotive community designed to help 'customers get the information they need when shopping for vehicles, images, videos, customer reviews.'

Tags: Auto Research, Car Shopping, Online Shopping, Web Tools

August 24, 2016 - Industry News

Driver Satisfaction Improves for 16 Automotive Brands, ACSI Reports

Among the 24 automotive brands tracked by the American Customer Satisfaction Index, 16 showed improvement and five showed declines. Three of those declines came from premium brands, the most notable being Volkswagen.

Tags: Customer Satisfaction, Domestic Vehicles, Luxury Vehicles