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Insider Tip of the Week

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October 22, 2014 - Industry News

Mich. Governor Signs ‘Anti-Tesla’ Bill

Governor Rick Snyder signed into law yesterday tighter restrictions on selling vehicles directly to consumers. The new law now effectively bans Tesla Motors from selling vehicles in the state.

Tags: Electric Vehicles, Franchised Dealerships, Governor Rick Snyder, Michigan, Tesla, Tesla Motors

October 21, 2014 - Industry News

Used-Vehicle Price Adjustments Keep Retail Markets on Track, Manheim Reports

The 1.1% third-quarter decrease in the Manheim Used Vehicle Value Index didn’t set off alarms despite it being the fifth straight decline in used-vehicle prices. The firm’s chief economist noted that the drop helped dealers increase vehicle turns as the market continues to inch toward more normal levels.

October 21, 2014 - Industry News

Facebook Playing Bigger Role in Dealer Selection, Study Shows

A survey of 2,000 consumers revealed that Facebook is now among the Top 5 dealer reviews sites used by car shoppers, with 75% of respondents indicating they trust reviews posted by friends on the social media site vs. reviews posted on other sites by people they don't know.

October 16, 2014 - Industry News

Inaugural Compliance Summit Set for Nov. 10-11

The new event is designed to offer actionable compliance solutions to dealers and their partners. It will be held at the Seminole Hard Rock Hotel & Casino in Hollywood, Fla.

Tags: compliance, Compliance Summit

October 7, 2014 - Industry News

Minnesota AG Sues EFG Over Service-Contract Refunds

John Pappanastos, CEO of EFG Companies

Attorney General Lori Swanson is suing EFG Companies for deceptive practices because it failed to deliver on its promise of full refunds for VSCs canceled within 30 days. The company’s CEO tells F&I and Showroom his company will be exonerated once all the facts are presented.

Tags: EFG Companies, extended car warranty, extended warranties, John Pappanastos, Lori Swanson, Minnesota AG, Minnesota Attorney General, Robocalls, telemarketing

September 30, 2014 - Industry News

Auto/Mate Integrates DMS With MaximTrak F&I Suite

The integration now provides users of both systems with a real-time, bi-directional exchange of information, eliminating redundancies and errors caused by incomplete information transfers.

Tags: Auto/Mate, F&I menu, MaximTrak

September 25, 2014 - Industry News

NADA Responds to Op-Ed Critical of Dealer Franchise Laws

The NADA’s Peter Welch responded to an op-ed piece published in The New York Times that was critical of dealer franchise laws, saying such protections ‘level the playing field between dealers and manufacturers.’

September 23, 2014 - Industry News

Help F&I and Showroom Select the 2014 F&Idol Winner

The magazine made available this week the voting page for the final round of the IAS-sponsored F&Idol competition. Review the five video entries and vote for the overall winner of the 2014 contest.

Tags: F&Idol, IAS

September 16, 2014 - Industry News

Bill to Rescind CFPB Auto 'Guidance' Gains Support in Congress

More than 400 dealers traveled to the nation’s capital in support of a new bill that could nullify the CFPB’s guidance on auto lending.

Tags: CFPB, HR 4811, NADA

September 2, 2014 - Industry News

Ziegler to Kick off Industry Summit With All-Day Profit Masters Seminar

The preconference seminar is designed for general managers, sales managers, BDC and Internet department directors, and F&I directors. The all-day seminar is being offered as a value-add for registrants of Industry Summit.

August 21, 2014 - Industry News

F&I and Showroom Extends Deadline to Enter F&Idol Contest

The deadline to enter F&I and Showroom's F&Idol contest has been extended to Monday, Aug. 25. At stake is up to $3,500 in prize money and a trip to Industry Summit 2014.

Tags: F&Idol, IAS, key replacement, Lease, Service Contracts, Tire and Wheel

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

June 3, 2014 - Industry News

F&I Tip of the Week: Selling Road Hazard Protection

Getting customers to say “Yes” to your road hazard tire-and-wheel program may be as easy as asking them how they feel. United Development Systems’ Gerry Gould explains in F&I’s Tip of the Week.

May 27, 2014 - Industry News

F&I Tip of the Week: Selling the Premium Option

How do you get customers to commit to that left column, better known as the premium option? United Development Systems' Gerry Gould shows you how in his latest installment of F&I Tip of the Week.

Tags: F&I Help, F&I Tip of the Week, F&I training, Gerry Gould, United Development Systems

April 28, 2014 - Industry News

Industry Summit Doubles Down on SF

Industry Summit 2014 will feature multiple education sessions dedicated to special finance and used-car retailing. Serving as master of ceremonies for those two tracks will be special finance guru Greg Goebel.

Tags: Greg Goebel, Industry Summit 2014, special finance, Used Car Retailing

April 10, 2014 - Industry News

ADP Plans to Spin Off Dealer Services Business

The company expects to complete the separation of the two companies in the early part of the fourth quarter. Leading the Dealer Service business unit will be ADP executives Steve Anenen and Al Nietzel.

Tags: ADP, ADP Dealer Services, Al Nietzel, Carlos Rodriguez, Steve Anenen

March 25, 2014 - Industry News

Industry Summit Adds Dealership Sales & Technology Track

Dealership Sales & Technology joins the F&I, Special Finance and P&A Leadership tracks for the annual event, which will be held Sept. 8–10 at Paris Las Vegas.

March 21, 2014 - Industry News

Auto Dealer TV Debuts

Catch the first episode of Auto Dealer TV, brought to you by Auto Dealer Monthly and F&I and Showroom magazine.

March 11, 2014 - Industry News

Employees Charged With Defrauding Florida Dealership

Three dealership employees are charged with embezzling $400,000 from their employer, The Tampa Tribune reports.

Tags: fraud, marketing

March 5, 2014 - Industry News

Kia Renews Deal With JM&A

Reporting a 19% increase in F&I product sales last year, Kia renews deal with JM&A to continue providing and administering its line for F&I products.

Tags: JM&A Group, Kia

March 3, 2014 - Industry News

Save the Date for Industry Summit 2014

Organizers of Industry Summit 2014 have announced that the event will be held September 8–10 at Paris Las Vegas. The show now includes the F&I Conference, Special Finance Conference, Dealership Sales & Technology Conference and the P&A Leadership Conference.

Tags: Auto Dealer Monthly, Dealer Sales & Technology Conference, F&I and Showroom, Industry Summit 2014, P&A Leadership Conference, Special Finance Conference

February 27, 2014 - Industry News

Cars.com Projects Highest February SAAR Since 2008

Cars.com analyst predicts that new-vehicle sales in February will be up 1.1% from a year ago. He also put the industry SAAR at 15.4 million — the highest selling rate since February 2008.

Tags: Cars.com, Jesse Toprak, SAAR

February 25, 2014 - Industry News

EFG Partners With Auto Financial Group to Expand Balloon Financing Product

The partnership aims to drive up market share of Auto Financial Group’s DrivingSense option, a hybrid financing product that acts like a lease.

Tags: Auto Financial Group, Balloon Loan Program, DrivingSense, EFG Companies

February 25, 2014 - Industry News

Larry H. Miller CEO to Appear on ‘Undercover Boss’

The company’s chief executive is set to appear on the Emmy Award-winning show on Feb. 28. The episode will focus on the Utah Jazz and game-night operations at EnergySolutions Arena.

Tags: CBS, Greg Miller, Larry H. Miller Dealerships, Undercover Boss

February 25, 2014 - Industry News

Digital Air Strike Launches Social Media App

The company claims to have the first social media app that operates on the Microsoft Windows 8.1 platform. It is designed to allow dealers to manage their social media profiles and online reputation in real time.

Tags: Digital Air Strike