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July 22, 2014 - Industry News

Portfolio Earns Diamond Ranking in Dealer’s Choice Awards

For the fourth time, Portfolio has received a Diamond Award from Auto Dealer Monthly in its annual Dealer’s Choice Awards.

Tags: Auto Dealer Monthly, Dealer's Choice Awards, Diamond Award, Portfolio Group, vehicle service contracts

July 22, 2014 - Industry News

Gould to Address Cash, Lease Deals

Gerry Gould returns to the magazine’s annual conference to lead a workshop on maximizing cash and lease deals in the F&I office. He’ll offer product recommendations, break down ideal menu configurations and will cover key word-tracks and responses to common customer objections.

Tags: Cash Conversion, F&I Conference & Expo, Industry Summit 2014, Lease Penetration

July 22, 2014 - Industry News

GM Brings ‘Closed Sales’ Back to Two Manheim Facilities

General Motors is bringing back closed sales to Manheim Arena Illinois and Manheim Pennsylvania. These sales are designed to help GM dealerships build their pre-owned vehicle inventories.

Tags: Auto Auctions, certified pre-owned vehicles, General Motors, Manheim

July 18, 2014 - Industry News

ADM Names 2014 Dealers’ Choice Award Winners

This year’s contest asked readers to vote for their favorite vendors in 27 categories. Some categories only had one or two winners, while no winners were named in the Reputation Management and Social Media Management categories.

Tags: Dealer's Choice Awards

July 16, 2014 - Industry News

Westlake Closes $320M Asset-Backed Securitization

Westlake Financial Services closed its fifth term asset-backed securitization in late May, with officials saying the company expects to ramp up its issuances as it continues to make inroads in the franchise dealer market.

Tags: assets, Westlake Financial Services

July 16, 2014 - Industry News

SUVs, Crossovers Most Popular Vehicles, IHS Reports

An analysis of retail new-vehicle registration data by IHS Automotive reveals that, for the first time, SUVs and CUVs have overtaken sedans in popularity.

Tags: IHS Automotive, popular vehicles

July 15, 2014 - Industry News

Owners of 8 N.J. Dealerships Reach $1.8M Settlement For Deceptive Practices

In addition to paying civil penalties and reimbursements to the state, the owners of the dealerships must work to resolve 45 consumer complaints. This is the second such settlement the dealers have reached with the state.

Tags: Deceptive Advertising, Deceptive Practices, New Jersey, Settlement

July 15, 2014 - Industry News

F&I Express Adds Mosaic Identity Services to eContracting Platform

F&I Express has added Mosaic Identity Services and its FamilyBeacon line of products to its aftermarket eContracting platform.

Tags: F&I Express, identity theft

July 15, 2014 - Industry News

TimeHighway.com, CIMA Systems Partner on Service Scheduling

Customers who receive a service notification through CIMA Systems will now be able to book an appointment with a few clicks using TimeHighway’s online appointment scheduling tool.

Tags: CIMA Systems, Service, service scheduling, Systems Integration, TimeHighway.com

July 15, 2014 - Industry News

Greg Poppe Joins AFS Acceptance as Risk Management Exec

In his new role, Poppe will oversee all aspects of portfolio management. He will also play a key role in the company's originations and collections strategy.

Tags: AFS Acceptance, Hiring

July 15, 2014 - Industry News

Ron Reahard Returns to Industry Summit

Voted a 2013 Best in Class trainer, Ron Reahard will lead a session at this year’s Industry Summit on converting customers to dealership financing. He will also outline a front-end process designed to keep the F&I office in the financing game.

Tags: Finance, Industry Summit, Ron Reahard, training

July 10, 2014 - Industry News

Calif. City Offers Incentives to New-Car Dealers

The city of Anaheim, Calif., has approved a new program that would give new-car dealers a 40% rebate on the city’s share of sales taxes for 10 years.

Tags: incentives, sales tax

July 8, 2014 - Industry News

Dealer United Selects Trilogy SmartLeads as Lead Provider

Dealer United has selected Trilogy SmartLeads as its third-party auto lead provider. SmartLeads qualifies vehicle leads with a patented scoring engine.

Tags: Internet Leads, lead generation

July 8, 2014 - Industry News

Hybrid Electric Vehicle Sales Soften, NADA Reports

Hybrids retain less of their original value than their non-hybrid counterparts, and steady gas prices and improving fuel economy will make hybrids less appealing to consumers, the NADA reports.

Tags: Hybrid Vehicle, NADA, NADA Used Car Guide, Toyota Prius, vehicle depreciation

July 8, 2014 - Industry News

Cal-Tex Names Director of Marketing

Sandra Moore takes over as director of marketing for the F&I product provider. She previously served as director of marketing for General Motors' Buick and GMC brands.

Tags: Cal-Tex Protective Coatings, Hiring

July 8, 2014 - Industry News

Space Coast Credit Union Adopts RouteOne Econtracting

Space Coast Credit Union, which serves more than 230,000 members on Florida’s east coast, has adopted RouteOne’s eContracting platform using its new DiscountOne product.

Tags: credit unions, econtracting, RouteOne

July 8, 2014 - Industry News

Attractive Financing Boosts Q2 Used-Vehicle Values, Manheim Reports

Strong consumer demand and attractive financing drove up both volume and values for used cars during the second quarter, Manheim reports.

Tags: certified pre-owned vehicles, Manheim, recession, used-vehicle values

July 8, 2014 - Industry News

Ohio AG Seeks Reimbursement from Dealer

Calland Auto Group and its owner are accused of failing to provide consumers with motor vehicle titles as required by Ohio law. The Ohio Attorney General seeks reimbursement to the state’s Title Defect Recision Fund.

Tags: Lawsuit, Ohio, Ohio Attorney general, vehicle title

July 3, 2014 - Industry News

BBB Warns Consumers of Fake Dealership

Customers reported that they found listings for the dealership on Cars.com, but the dealer was using a fake address.

Tags: BBB, Cars.com, fraud

July 2, 2014 - Industry News

Adam Systems Joins F&I Express Network of Aftermarket Providers

Dealers using Adam Systems' DMS can now electronically access more than 60 F&I providers for erating, econtracting and remittance through the F&I Express platform.

Tags: F&I Express, F&I product provider, F&I products

July 2, 2014 - Industry News

Dealertrack Acquires ASR Pro

Dealertrack announced this week it has acquired all the assets of ASR Pro, a provider of a web-based multipoint-inspection solution and fixed-operations services for dealerships.

Tags: Acquisition, Dealertrack, fixed operations, Vehicle Inspection

July 1, 2014 - Industry News

Kansas City Dealer to Seek Permanent ACA Exemption

Following Monday's Supreme Court ruling in favor of Hobby Lobby, the owner of Randy Reed Automotive will seek a permanent injunction exempting him from providing insurance coverage for the 'morning after' pill.

Tags: Lawsuit, Obama administration, the morning after pill

July 1, 2014 - Industry News

J.D. Power: Transaction Prices Reach Record High

Transaction prices for the first six months of 2014 averaged a record $29,630. Consumer expenditures on new vehicles also reached a record high of $194 billion during the period.

Tags: J.D. Power and Associates, LMC Automotive, transaction prices, Vehicle Sales

July 1, 2014 - Industry News

LotLinx Selects New CEO

Dean Evans most recently served as the CMO of Subaru of America Inc. As CEO of LotLinx, he will be responsible for strategic direction, development of key partnerships and customer relationships.

Tags: Hiring, LotLinx

June 29, 2014 - Industry News

Ed Bobit, founder and chairman of Bobit Business Media, has passed away

Ed Bobit, founder and chairman of Bobit Business Media, and publisher of Automotive Fleet magazine and many other media brands, passed away this morning at the age of 86. Last summer Bobit had undergone valve-replacement surgery and had been working primarily from home. He died peacefully in his sleep.