May 20, 2015 - Industry News
There’s a reason captives like Ally and Chrysler Capital have expanded their appetite for longer term loans. And according to a new white paper from Black Book, it’s not just about keeping loan payments below that $400 consumer sweet spot.
Tags: Auto Loan Terms, Auto Loans, Black Book, J.D. Power and Associates, Vehicle Sales
The California New Car Dealers Association filed a lawsuit Wednesday against TrueCar, alleging that the shopping site is not in compliance with certain sections of the California Vehicle Code.
Tags: California New Car Dealers Association, CNCDA, Lawsuit, TrueCar
May 19, 2015 - Industry News
In the first quarter of 2015, the percentage of automotive loans that fell within the subprime and deep subprime risk categories made up 19.7% of the market, the lowest share since 2012, according to Experian Automotive.
Tags: deep subprime, Experian, Experian Automotive, First Quarter, Melinda Zabritski, subprime
CNA National has received the Diamond Award for Best Service Contract Provider as well as the Platinum Award for Best Reinsurance Provider in Auto Dealer Monthly’s 2015 Dealers’ Choice Awards.
Tags: Auto Dealer Monthly, CNA National, Dealers' Choice Awards, Industry Summit, reinsurance
Auto/Mate Dealership Systems has received a Platinum award in the 2015 Auto Dealer Monthly Dealers' Choice Awards, marking the second time the company has received a top ranking in the publication's annual award program.
Tags: Auto Dealer Monthly, Auto/Mate, Dealers' Choice Awards, DMS, Industry Summit
Manheim Louisville has rescheduled its Cruisin’ for Wishes car show and fundraiser for June 13, after the event was rained out on May 16.
Tags: charity giving, Manheim, Used Cars
May 14, 2015 - Industry News
Edmunds.com updated its mobile app with a new feature that allows shoppers to send text messages to dealers.
Tags: Edmunds.com, mobile app, texting
May 13, 2015 - Industry News
MaximTrack Technologies’ F&I suite has completed Autosoft’s certification process and now integrates with the tech firm’s FLEX DMS.
Tags: dealership management system, F&I manager, F&I menu, F&I office, F&I products, F&I tools
Western Funding has announced its Triple Pay program, which allows dealers to build a bankable portfolio and receive three different types of payments on the same deal — upfront checks, near portfolio closing and back-end payment streams.
Tags: subprime, Western Funding Inc.
F&I and Showroom's sister publication has announced the winners of the 11th annual Dealers’ Choice Awards. Voted on by dealers, the program recognizes the industry’s best product and service providers.
Tags: David Gesualdo, Dealers' Choice Awards, Industry Summit
May 12, 2015 - Industry News
Phil Penton, former partner and president at SOCIALDEALER, will lead SureCritic’s business development activities and strategic alliances.
Tags: social media, SOCIALDEALER, SureCritic
The enforcement division of the Texas DMV has closed its case against CarGurus after the vehicle-shopping site made revisions to its used-car advertisements. In April, the department threatened enforcement actions because of the way the site listed used vehicles for sale.
Tags: advertising, CarGurus, DMV, Online Marketing, Texas, used vehicles
Total new-vehicle sales in April increased 0.6% compared with a year ago to 1.45 million units sold, according to Autodata Corp. April’s SAAR was 16.5 million units.
Tags: April, monthly sales, SAAR
Manheim has promoted Eddie Lafferty to general manager of Manheim Nevada.
Tags: Manheim, Manheim Nevada, Promotions
May 7, 2015 - Industry News
AmTrust announced last week that it has entered into a definite agreement to purchase Wells Fargo’s Warranty Solutions, which the bank acquired in October 2008 with its purchase of Wachovia Corp.
Tags: Acquisition, AmTrust, F&I products, Wachovia Dealer Services, Wells Fargo
May 6, 2015 - Industry News
The provider of video walk-around technology has tabbed Flick Fusion’s video marketing platform to host its videos. Auto On Video officials said the connection will provide users with enhanced video content, marketing and distribution features.
Wolters Kluwer’s new update allows its AppOne platform to accommodate multiple payment frequencies, helping to further streamline the loan origination process for buy-here, pay-here dealers.
In a recent survey, eLEND Solutions found that while 80% of dealers expect the CFPB to implement regulations that would replace dealer participation with mark-up thresholds or a flat-fee model, only 40% have plans in place to meet those requirements.
Tags: CFPB, Compliance, Consumer Financial Protection Bureau, eLEND, F&I Presentation, Online Marketing
Flick Fusion Video Marketing announced that it has been selected by Autos On Video to integrate the company’s video inventory application with its automated video generation and marketing platform.
Tags: Flick Fusion, Systems Integration, Video Advertising
The lease approval rate jumped 31% from March to April, the highest since November 2014, Swapalease.com reports.
Tags: April, Credit Applications, lease originations, Swapalease.com
Auto/Mate Dealership Systems announced that more than 70 of its customers and 15 sponsorship partners attended the Auto/Mate User Summit in Westborough, Mass.
Tags: Auto/Mate, DMS, training
HookLogic announced that its AutoHook suite of products is on track to deliver over 700,000 leads and is trending toward 100,000 walk-ins for its auto dealer clients in 2015.
Tags: HookLogic, Internet Leads, lead generation, Saas
A1 Software Group announced the launch of a mobile-centric, social, lightweight sales platform called Selly Automotive.
Tags: CRM, mobile platform, mobile solution, Selly Automotive
Strayer University, in partnership with Chrysler, has developed the [email protected] program, which will be offered for free to employees of Chrysler, Jeep, Dodge, Ram and FIAT dealerships.
Tags: Chrysler, Fiat, training
May 1, 2015 - Industry News
The Texas Department of Motor Vehicles Enforcement Division has pulled back on its plan to fine dealers with listings on CarGurus.com after the department and the shopping site discussed revisions to CarGurus’ advertising practices in a call yesterday.
Tags: CarGurus, Deceptive Advertising, DMV, online shoppers, Texas, Texas Automobile Dealers Association
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