January 14, 2015 - Industry News
DealersLink will launch AuctionLink, a new, live auction platform, at the NADA Convention San Francisco, January 23-25. The platform has no buy or sell fees, and buyers can set automated bids.
Tags: Auto Auctions, DealersLink, NADA Convention and Expo
DMEautomotive has added Mobile Loyalty to its new Drive Connect mobile app, allowing customers to track their reward points earned for dollars spent on sales and service at the dealership.
Tags: Customer Loyalty, DMEautomotive, Mobile Applications
When used strategically, mail is still is delivering much stronger results than other marketing channels, according to a study from Prospect Vision.
Tags: dealership marketing, mailers, prospecting, Study
January 13, 2015 - Industry News
Ally Financial Inc. will begin piloting in February a new program designed to provide customers with free access to their FICO score. The company expects to fully launch the new service this summer.
Tags: Ally Financial, Credit, FICO, Obama administration
Average wholesale used-vehicle prices fell modestly in December but remained up on a year-over-year basis, according to a report from ADESA’s Chief Economist Tom Kontos.
Tags: ADESA, Autodata Corp, Tom Kontos, Wholesale Pricing
Rev/Mate will be rolled out in Auto/Mate’s Automotive Productivity Management Suite Fixed Ops/Mate module in 2015. The solution is designed to help service departments maximize customer pay revenue while creating a quality customer experience.
Tags: Auto/Mate, Service, service scheduling
January 9, 2015 - Industry News
Despite predicting that new-vehicle sales will rise above 2014 levels, the vehicle information site believes 2015 will be the slowest year for sales growth since 2009.
Tags: Gas Prices, Kelly Blue Book, new-vehicle sales, transaction prices
January 8, 2015 - Industry News
A 10.8% new-vehicle sales increase in December capped off a year in which the industry broke through the 16 million-unit mark.
Tags: annual report, December, monthly sales, SAAR
January 7, 2015 - Industry News
Stronger pricing activity and fuel price trends highlighted a better-than-expected 2014 for used-vehicle prices, which outperformed 2013 levels and beat Black Book’s initial expectation.
Tags: Black Book, used-vehicle values
Mercedes-Benz USA will begin relocating its corporate headquarters to Atlanta from its current facility in Montvale, N.J., in July.
Tags: headquarters, Mercedes-Benz, New Jersey
GO Financial, a Phoenix-based subprime auto finance company, completed the sale of an additional equity interest in the company to Manheim.
Tags: DriveTime, Equity, GO Financial, Manheim
CreditMiner has reached an agreement with Equifax to deploy its Prescreen of One, a service that allows dealers to get real-time, prescreened finance offers for customers without having to collect their Social Security number or date of birth.
Tags: credit prescreening, Equifax
Black Book has promoted Adam Mann to vice president of Dealer Services for its Activator Division.
Tags: Black Book, Promotions
January 6, 2015 - Industry News
Officials with both companies say the collaboration will provide new machine-to-machine technology solutions for the connected car industry.
Tags: AT&T, Internet of Things, LoJack, Vehicle Theft, Vehicle-Recovery Device
Average transaction prices in December were up nearly 3% from a year ago and nearly 1.6% from November, with Hyundai and Kia posting the largest percentage gain among major OEMs.
Tags: KBB. kbb.com Kelley Blue Book, new-vehicle sales, transaction prices
The NIADA has partnered with EFG Companies to drive F&I profit opportunities for its independent dealer members.
Tags: EFG Companies, F&I product provider, F&I products, National Independent Automobile Dealers Associatio, NIADA
In 2015, third-party administrator SouthwestRe will celebrate its 30-year anniversary, starting with a kick-off celebration during the NADA convention.
Tags: NADA Convention and Expo, SouthwestRe
Automotive Compliance Consultants and cyber-security partner Nuspire Networks will discuss dealership security with dealers at NADA 2015 in San Francisco.
Tags: Automotive Compliance Consultants, data mining, data protection, NADA Convention and Expo
Used-vehicle sales motivated by online ads outpaced purchases motivated by print newspapers for the first time, CNW reports. The firm also noted that private party sales showed the biggest increase in December.
Tags: CNW Research, newspaper advertising, online advertising, Online Marketing, print, used car sales
Flick Fusion is collaborating with ZMOT Auto, an automotive digital velocity firm, to produce vehicle inventory videos with voiceovers in a conversational style for Spanish-speaking car buyers.
Tags: Flick Fusion, inventory, Video Advertising
CNA National Warranty Corp. is celebrating 20 years as the longest-serving Affinity Partner with the American International Automobile Dealers Association.
Tags: American International Automobile Dealers Associat, CNA National
Dealers using the AutoStar Fusion dealer management system can now update DealerSocket’s customer relationship management software in real time.
Tags: AutoStar Solutions, CRM, DealerSocket, DMS integration
December 30, 2014 - Industry News
Moody’s expects the performance of new and outstanding auto loan ABS deals to suffer temporarily due to current regulatory activity, but it does see a silver lining in the increased scrutiny of the auto finance marketplace.
Tags: Auto ABS, compliance, Federal Trade Commission, Moody's Analytics, Regulations, subprime
Massachusetts Attorney General Martha Coakley has ordered Santander Consumer USA to produce documents related to its subprime auto lending business. The AG said she is also looking into the practices of a handful of other auto lenders.
Tags: Attorney General, Auto Lending, compliance, discrimination, Santander Consumer USA, subpoena, subprime
A report released Monday by the regulator highlights how loopholes in the current Military Lending Act rules are racking up the costs of loans for servicemembers.
Tags: CFPB, Consumer Financial Protection Bureau, military, military loans
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