April 26, 2012
Gerry Gould issues a challenge to F&I managers in his latest Tip of the Week. And, no, he’s not talking about greeting customers in the showroom.
Tags: Gerry Gould, Tip of the Week
Fueled by an 18.1 percent increase in total retail sales, Penske Automotive Group achieved it most profitable first quarter in company history.
Tags: Penske Automotive Group
Sonic Automotive Inc. reported a 24 percent profit increase in the first quarter, and a record 9 percent increase in same-store revenues.
Tags: Sonic Automotive
Chrysler Group LLC notified Ally Financial Inc. that it will not renew its auto finance agreement with the former captive lender. Officials, however, left open the possibility of a future partnership.
Tags: Ally Financial, Chsyler Group LLC
In a recent blog post on the Consumer Financial Protection Bureau (CFPB) website, the Assistant Director for the Office of Fair Lending and Equal Opportunity said the agency will be paying more attention to non-mortgage loans, and specifically called out auto loans.
Tags: BHPH, BHPH legislation, CFPB
Asbury Automotive Group Inc. achieved an all-time high for first-quarter operating profits, the dealer group reported today.
Tags: Asbury Automotive, used-vehicle sales, Vehicle Sales
Group 1 Automotive Inc. set new records for total gross profit, as well as first-quarter revenue and F&I gross profit per vehicle sold.
Tags: F&I profit, Group 1 Automotive, Vehicle Sales
RouteOne's mobile app tools are now compatible with Windows Phone 7, the company announced this week.
Tags: RouteOne
AutoNation Inc. reported increased profitability in each of its business sectors for the first quarter, with revenue up 10 percent and gross profit up 6 percent. F&I gross profit per vehicle sold was up 7.2 percent.
Tags: AutoNation, F&I products, F&I profit, New-Vehicle Sales
VW Credit Inc. (VCI) broke ground this week on a 30,000-square-foot expansion of its Libertyville, Ill., facility. The project is expected to be completed early next year.
April 24, 2012
The state's dealer group reports that new-vehicle registrations for the first quarter increased 17.7 percent vs. a year ago, and predicts that California dealers will deliver 1.5 million units this year.
Tags: California New Car Dealers Association, New-Vehicle Sales
CarFinance Capital LLC has opened a new office in Fort Worth, Texas. Housing an additional 125 employees, the new facility will manage the Eastern and Central time zones for the below-prime auto finance source.
Tags: CarFinance Capital, Jim Landy, nonprime
KBB says rising used-car values continue to fuel the rise in new-vehicle sales, but warns that dealers could be overpaying for fuel-efficient, used models in the months ahead.
Tags: fuel-efficient vehicles, kbb.com, used-vehicle values
BMW Financial Services has added another product to its list of F&I protection programs with the introduction of its BMW Lease Protection program.
Tags: BMW Financial Services, F&I products, Lease Protection
Sales slowed, but two market research firms said the industry will deliver 1.135 million units in April, an 11 percent increase from a year ago.
Tags: J.D. Power and Associates, LMC Automotive, New-Vehicle Sales, SAAR
A report from Moody's and Equifax showed that total U.S. auto lease balances increased 9 percent in March compared with a year ago, more than twice the increase in auto loan balances.
Tags: Auto Leases, CreditForecast.com, Equifax, Moody's Analytics
Ohio Attorney General Mike DeWine filed lawsuits against two buy here, pay here dealers for violating multiple consumer protection laws.
Tags: Attorneys General, BHPH dealers, Mike Devine
The market research firm estimates that BHPH dealers achieved $16.5 million in gross sales last year and sold about 2.5 million vehicles.
Tags: BHPH, BHPH dealers, CNW Research
CNW's True Delivery Rate for the first 19 days of April has the industry tracking at 14.68 million units, with the firm predicting that dealers will move 1.25 million units by month end.
Tags: CNW Research, New-Vehicle Sales, used days' supply, Vehicle Sales
American Auto Guardian Inc. has launched a new Performance Services department that will provide training and income development help to its network of dealer clients and agents.
Tags: American Auto Guardian, UDS
The technology provider has adopted the FEX DMS name for its suite of software tools for independent dealers.
Tags: DMS, FEX DMS, Finance Express, independent dealerships
April 19, 2012
eBay has launched eBay Green Driving, a new website designed to provide drivers with ways to reduce both money spent at the pump and their environmental impact.
Tags: Driving Green, eBay Motors, Internet shopper
FinCo Management has engaged Auto Portfolio Services LLC (APS) to provide loan servicing for the company’s growing portfolio.
Tags: Auto Portfolio Services, FinCo Management
Shopper Insights from AutoTrader show that 60 percent of new-car shoppers are more likely to consider CPO vehicles due to the economy; 29 percent are considering CPO for the first time.
Tags: AutoTrader.com, certified pre-owned vehicles, Internet shopper, used vehicles
JustBoatLoans will use AppOne to help simplify the preparation of loan documents, automate credit application processing and connect its dealer customers with lenders.
Tags: AppOne, JustBoatLoans, marine financing, Wolters Kluwer Financial Services
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By Gregory Arroyo Guitar Center is doing its best to prove the editor’s 10-year-old prediction that brick-and-mortar retailers would always have a role in the online shopping experience.
By Marv Eleazer The magazine’s from-the-trenches blogger describes how his days as a spitfire preacher influenced his style in the F&I office — and not the way you might think.
By Cory Mosley The magazine’s sales expert explains how you can plan and execute long-term strategies without losing sight of your day-to-day responsibilities.
By Jim Ziegler ‘Da Man’ gets a little reflective about his recent surgery before regaining form and doing what he does best.
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