The Showroom

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July 19, 2018 - Industry News

J.D. Power: Wholesale Prices Decline in June

June wholesale prices for used vehicles up to eight years in age fell by an average of 0.9% compared to May. Losses at the segment level were less than historic norms across the board on both the mainstream and premium sides of the market, the firm said.

Tags: Auto Auctions, J.D. Power Valuation Services, Wholesale Pricing

July 18, 2018 - Industry News

Manheim Sees Record-Level Digital Adoption in First Half

The company reported that 45% of vehicles sold in the first half were to digital buyers on Manheim.com. The firm also detailed enhancements it’s planning to make to the Manheim Marketplace over the next few months.

Tags: Auto Auctions, digital, Manheim, Manheim Marketplace, RMS Automotive

July 16, 2018 - Industry News

Black Book Becomes Valuation Partner for MYEV.com

With today’s announcement, Black Book valuation data will be integrated with all EVs listed in the MYEV.com system, which will help buyers and sellers ensure they’re reviewing the most accurate and up-to-date valuations within the market.

Tags: digital marketing, digital retailing, lead generation, MYEV.com, Third-party leads

July 16, 2018 - Industry News

Monte Perkins Earns Cox/NAMAD Rising Star Award

William Montez Perkins II is the recipient of the 2018 Rising Star Award, presented by Cox Automotive and the National Association of Minority Automotive Dealers.

July 16, 2018 - Industry News

CDK Global to Acquire ELEAD1ONE

The deal was first reported on Sunday by The Banks Report, which described the pending acquisition as checking off 'several boxes for CDK while filling a big product hole — a viable integrated CRM platform with significant market share.'

Tags: CDK Global, CRM, digital marketing, digital retailing, DMS, ELEAD1ONE, online F&I

July 12, 2018 - Industry News

FTC, 12 Partner Agencies Conduct Used Car Rule Compliance Sweep

The compliance sweep, which took place in seven states, is the first since the agency's new Used Car Rule took effect earlier this year. Dealers who failed to comply could face penalties of up to $41,484 per violation.

Tags: compliance, Federal Trade Commission, Used Car Guide, used cars

July 12, 2018 - Industry News

Virginia Dealer Rolls Out Roadster's Online Car-Buying Platform

McGeorge Toyota is the latest dealership operation to add Roadster’s Express Storefront digital retailing platform. The dealership refers to its new website feature as ‘McGeorge @Home.’

Tags: digital retailing, Express Storefront, McGeorge Toyota, online F&I, Roadster

July 10, 2018 - Industry News

Hartford BMW Store Unveils ‘Ultimate Showroom’

A $6.5 million renovation and expansion added 39,000 square feet to Hartford, Conn.’s New Country BMW retail footprint.

July 9, 2018 - Industry News

LotMonkey Expands Into Four New Markets

The company’s web-based merchandising platform is now available in Philadelphia, Louisville, Ky., Long Island, N.Y., and northern New Jersey. It allows dealers to instantly create and customize an infinite array of point-of-sale visuals.

Tags: branding, LotMonkey, marketing, point of sale, showroom

July 5, 2018 - Industry News

Edmunds: Stage Set for Market Contraction

June’s annual percentage rate of 5.82% marked a 17% increase since January 2018. Add rising rates to a virtually saturated U.S. market, record-high vehicle prices, and historically high numbers of people who owe more than their cars are worth, and the stage is set for a market contraction, the firm said.

Tags: Edmunds, Federal Reserve, interest rates, Negative Equity, new-vehicle sales, SAAR, used-vehicle sales

July 3, 2018 - Industry News

Black Book: Wholesale Values Remain Stable at Start of Summer

Wholesale values continued to see little change last week, although demand for sporty cars appears to be dwindling as the average value of that segment has begun to drop.

Tags: Black Book, used-vehicle values, vehicle depreciation, wholesale values

July 2, 2018 - Industry News

Digital Air Strike Announces Facebook Integration

The integration allows the digital engagement company to deploy its artificial intelligence-powered real-time messaging solution, Response Path, on Facebook Messenger.

Tags: Digital Air Strike, digital engagement, digital marketing, social media marketing

July 2, 2018 - Industry News

FlexDrive to Drive South Florida Dealer's Subscription Program

Florida Fine Cars will launch AmeriDrive, a new subscription service that will operate on Cox Automotive’s and ARI’s Flexdrive platform.

July 2, 2018 - Industry News

Lexus Dealers Now Have TagRail

Lexus and TagRail have partnered to offer dealers a comprehensive new digital retailing tool.

June 28, 2018 - Industry News

LMC/J.D. Power: First-Half Retail Sales Weakest in Four Years

Retail sales for the first half of 2018 are expected to be the weakest since 2014, but record transaction prices have consumers on pace to spend nearly $5 billion more on new-vehicle purchases during the period compared to a year ago.

Tags: Forecast, J.D. Power and Associates, LMC Automotive, new-vehicle sales

June 27, 2018 - Industry News

Updated: Roadster Secures New Funding, Announces New Ties With Lithia, Lexus

The startup’s war chest now totals $30 million after securing $15 million in new funding. The announcement comes on the heels of two other major developments for the San Francisco-based startup, including new relationships with Lithia Motors and Lexus.

Tags: digital retailing, Ecommerce, online F&I, Roadster

June 26, 2018 - Industry News

DealerSocket Names Bryan Klann Chief Revenue Officer

Bryan Klann’s appointment bolsters DealerSocket’s leadership team and provides the firm’s sales and marketing team with a more than 20-year software industry veteran with a track record of growing revenue.

Tags: CRM, DealerSocket, Desking, digital retailing, F&I, Precise Price, showroom, technology

June 25, 2018 - Industry News

Manheim Completes Bold Auction Transformation

The transformation is designed to make it easier and faster for dealers to do business with Manheim anytime and anywhere.

June 21, 2018 - Industry News

J.D. Power: New-Vehicle Initial Quality Improves Again

The firm’s 2018 study revealed a 4% increase in initial quality from a year ago, with Genesis, Kia, and Hyundai topping the annual study’s rankings.

Tags: Genesis, Hyundai, Initial Quality Study, J.D. Power, Kia

June 20, 2018 - Industry News

J.D. Power: Wholesale Prices Down in May, Auction Volume Growing

Wholesale prices declined in May, while auction volume continues to grow.  Photo by Eric Gandarilla.   

May’s wholesale prices for used vehicles up to eight years in age fell 1.7% from the prior month, a level that’s typical for this time of year, the firm stated in its June Used Car and Light Truck Guidelines report.

Tags: J.D. Power, used-vehicle values, Wholesale Pricing

June 20, 2018 - Industry News

ADT Announces Winners of 2018 Dealers’ Choice Awards

Dealers and dealership personnel have recognized 70 companies and individuals in 34 categories in the 2018 Dealers’ Choice Awards.

June 20, 2018 - Industry News

Retail Incentives, New-Vehicle Sales Grow in May

New vehicle sales were up in May, driven in part by bigger incentives. Rising incentive spend could hurt used vehicle values by the end of the year.  Photo by Eric Gandarilla.   

May new-vehicle sales grew by 4.8% from the year-ago period, while average incentive spending per unit grew 6.6% from a year ago to $3,740.

Tags: incentive spending, J.D. Power, new-vehicle sales, SAAR

June 18, 2018 - Industry News

dealerTEL Adds Campaign Success Metrics

New metrics offered by dealerTEL were designed to help dealers track call success at the most crucial point: after the phone is answered in-house.

June 13, 2018 - Industry News

Edmunds: Used-Vehicle Prices Hit Record High in Q1

Although shoppers continue to flock toward pricier trucks and SUVs, steadily rising gas prices are beginning to stimulate consumer demand and increase residual values for smaller vehicles.

Tags: Edmunds, Gas Prices, used-vehicle prices, used-vehicle values

June 13, 2018 - Industry News

ADESA Canada Names New Vice President of Dealer Sales

The firm named Steve Langdon, who joined the KAR family 15 years ago, to the role. The more than 20-year industry veteran will be responsible for implementing the ADESA Canada dealer sales strategy and promoting KAR’s integrated digital, mobile and physical auction services.

Tags: ADESA, ADESA Canada, Kar Auction Services, Steve Langdon

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