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December 20, 2017 - Industry News

UPDATED: Core F&I Product Could Put Some Auto Finance Deals Under Military Lending Act’s Requirements

Based on an interpretive rule issued by the Defense Department on Dec. 14, including credit-protection products like GAP in a servicemember’s vehicle finance contract could subject it to a slew of restrictions and requirements under the Military Lending Act (MLA).

Tags: compliance, credit insurance, department of defense, F&I products, GAP, Military Lending Act, National Automobile Dealers Association, servicemembers

January 9, 2018 - Industry News

Dent Wizard Rolls Out New F&I Programs

Road hazard tire-and-wheel, key protection with Tile Technology and optional add-on coverages highlight the F&I product provider’s new offerings.

Tags: Dent Wizard, dent-and-ding, F&I products, key replacement, reconditioning, Tire and Wheel, windshield protection

January 11, 2018 - Industry News

Judge Again Rules in Favor of Trump in Battle for Control of CFPB

A federal judge denied a request by a high-ranking CFPB official for a preliminary injunction to remove President Trump’s appointee as acting head of the agency. The decision sets the stage for a possible appeal.

Tags: auto finance, CFPB, compliance, dealer markups, Donald Trump, Leandra English, Mick Mulvaney, Richard Cordray

January 4, 2018 - Industry News

F&I Express, F&I Admin Launch Product Cancellation Platform

A strategic partnership between F&I Express and F&I Administration Solutions was designed to create the industry’s first electronic F&I product cancelation process.

January 16, 2018 - Industry News

Cox Automotive: Car Buyers Still Need Dealers

The latest research by Cox Automotive finds car buyers continue to rely on instore visits even as digital information sources proliferate.

Cox Automotive’s ‘Future of Digital Retail Study’ reveals that dealerships remain central to the car-buying experience, but the instore experience tends to fall short of consumer expectations.

December 21, 2017 - Industry News

NY AG Sues Two Dealerships Over the Sale of Etch

New York Attorney General Eric Schneiderman has filed a lawsuit against Victory Mitsubishi of Larchmont and Victory Suzuki of the Bronx, charging the stores with selling an ‘unwanted and bogus’ anti-theft product.

January 9, 2018 - Industry News

Survey: Online F&I Improves CSI

Customers who are able to initiate the financing and F&I product selection process online report a better overall car-buying experience, according to a new survey from SpringboardAuto.

January 10, 2018 - Industry News

Dealertrack Unveils 2018 Compliance Guide

Dealertrack has released the 13th edition of its Compliance Guide, a free resource for industry members, including dealers and F&I professionals.

January 11, 2018 - Industry News

Chase Joins AutoFi’s Digital Retailing Platform

Through the newly forged partnership, Chase will deliver financing terms online through the AutoFi Platform. The finance source is the first national bank to join the Ford Credit-backed AutoFi platform.

Tags: AutoFi, digital retailing, online F&I

January 11, 2018 - Industry News

Seller’s Market: 33% of Americans Want New Cars

Nearly one-third of licensed U.S. drivers are thinking about buying a new vehicle in 2018 and 15% said they will, according to a new survey commissioned by GM BuyPower Card.

January 10, 2018 - Industry News

Digital License Plate Maker Closes $11.1 Million Finance Round

The funding round, which will allow Reviver Auto to expand the footprint of its digital license plate, was led by Australian-based ACK Group. The firm also announced the addition of two new members to its board of directors, former Emotient CEO Ken Denman and former R.L. Polk CEO Stephen Polk.

Tags: digital license plate, Reviver Auto

January 5, 2018 - Industry News

StoneEagle Welcomes New CEO

Cindy Allen has been named CEO of StoneEagle, joining an executive leadership team that includes founder and chairman Bobby Allen and managing partner Brent Allen.

January 9, 2018 - Industry News

Spireon Demos Dealer Subscription Service at CES

Spireon is offering demos of its Drive On Demand dealership subscription service at the 2018 International Consumer Electronics Show.

January 4, 2018 - Industry News

Top 5 CIM Trends for 2018

The consumer identification management experts at Infutor list artificial intelligence, blockchain marketing and chatbots among the leading trends that will shape the way auto dealers drive appointments and sales this year.

January 9, 2018 - Industry News

Audi Captive Joins AutoGravity Network

The fintech firm has added Audi Financial Services to its car-shopping and financing platform, which now allows Audi shoppers to find their chosen vehicle at the dealership of their choice and secure financing through the carmaker’s captive in four easy steps.

Tags: Audi Financial Services, AutoGravity, digital retailing, online F&I

January 10, 2018 - Industry News

Stanton Returns to the NADA as COO

Michael Stanton Jr., former vice president and general manager of J.D. Power’s Vehicle Valuation Practice, formerly known as the NADA Used Car Guide, has returned to the NADA to work across the organization on strategic and operational issues.

Tags: JD Power, NADA, NADA Used Car Guide

January 8, 2018 - Industry News

Cars.com to Convert Affiliates to Direct Sales

A new agreement between Cars.com and McClatchy will convert the online vehicle marketplace’s 17 remaining affiliate markets to its direct sales channel.

December 28, 2017 - Industry News

Top Chef Takes Helm at Florida Dealer Cafés

Culinary Institute of America-trained Chef Earl Weiss has taken his talents to the in-dealership restaurants at Morgan Auto Group’s Sun Toyota and Brandon Honda in Central Florida.

January 8, 2018 - Industry News

KBB: Average New-Vehicle Prices Rise to Record High in December

December’s average transaction price for a new vehicle rose nearly 2% from a year ago to a record high of $36,113, the firm reported last week.

Tags: Kelley Blue Book, new-vehicle sales, transaction prices

December 12, 2017 - Industry News

Cox Automotive Files Antitrust Lawsuit Against CDK Global

Add Cox Automotive to the growing list of tech vendors and dealers alleging that CDK and Reynolds and Reynolds Co. conspired to eliminate competition for data integration services and seize control over dealer and third-party data.

Tags: CDK Global, Cox Automotive, data, DMS, DMS integration, Reynolds & Reynolds

January 3, 2018 - Industry News

Toyota Recalls Pickups, Other Models for Overloading Risk

Photo of Toyota Tundra courtesy of Toyota

Toyota is recalling 649 vehicles because they may have labels that inaccurately specify load-carrying capacity, according to the National Highway Traffic Safety Administration.

Tags: NHTSA, Recall, Toyota

January 4, 2018 - Industry News

Global Autonomous Vehicle Sales to Reach 33M by 2040

Automakers should be able to increase global sales of fully autonomous vehicles to 33 million by 2040 from 51,000 in 2021 — the first year of significant volume, according to a forecast from IHS Markit.

Tags: automatic braking, Autonomous Driving, IHS Markit, Safety, technology

January 9, 2018 - Industry News

Hallowell Promoted to VP for Manheim, RMS Automotive

Zach Hallowell has been promoted to vice president of Manheim Digital Marketplace and RMS Automotive.

January 8, 2018 - Industry News

AIADA: International Nameplate Dealers Optimistic Despite Sales Slip

Total new-vehicle sales didn't grow for the first time since the Great Recession, but the American International Automobile Dealers Association said last week its member dealers remain optimistic about 2018.

Tags: American International Automobile Dealers Associat, new-vehicle sales, SAAR

January 9, 2018 - Industry News

Manheim: Wholesale Used Vehicle Prices Continue to Soften

Used-vehicle value pricing continues to return to pre-hurricane levels but overall remains high, the firm reported this week.

Tags: Manheim, Manheim Index, new-vehicle sales, used-vehicle values