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April 30, 2015 - Industry News

Texas Dealers Could Face Fines Over CarGurus’ Business Practices

Dealers could face fines over CarGurus' advertising practices. At issue is the way the company lists used-car prices on its site, including projected savings below market value and price drops.

Last week, the Texas Department of Motor Vehicles Enforcement Division issued a cease-and-desist letter to CarGurus and the state’s dealer association, threatening dealers with fines up to $10,000 a day if the shopping site does not revise its advertising practices.

Tags: CarGurus, Deceptive Advertising, DMV, fine, Texas

February 3, 2017 - Industry News

President Trump Orders Review of Dodd-Frank

President Donald Trump took his first step toward making good on his promise to dismantle the Dodd-Frank Wall Street Reform and Consumer Protection Act, signing on Friday an executive order directing the secretary of the Treasury to review the 2010 financial oversight law.

Tags: Consumer FInancial Protection Bureau, Dodd-Frank Act, Donald Trump, Richard Cordray

February 7, 2017 - Industry News

Rico Glover to Speak at NYC Event

ADT contributor Rico Glover and his team from Bryan Honda will deliver a presentation on dealership digital marketing in New York City next month.

February 2, 2017 - Industry News

Senate Republicans Introduce CFPB-Restructuring Bill

Senate Republicans have reintroduced legislation aimed at replacing the CFPB’s single-director structure with a five-member bipartisan board. The bill was unveiled as Congressional Democrats and state regulators pledged to defend Director Richard Cordray and his agency.

Tags: Consumer FInancial Protection Bureau, Dodd-Frank Act, Donald Trump, Richard Cordray

February 7, 2017 - Industry News

EasyCare Makes ‘Best and Brightest Companies To Work For’ List

The National Association of Business Resources named EasyCare to its ‘Best and Brightest Companies to Work For” list, which the association put together in partnership with an independent research firm.

Tags: CoVideo, EasyCare, F&I products, GWC Warranty Corporation, Human Resources

February 7, 2017 - Industry News

Manheim: Wholesale Prices Slipped in January

Manheim's Tom Webb believes the 0.3% year-over-year decrease could have been much worse considering the "sharply rising" supply of used units.

Tags: Manheim, Manheim Used Vehicle Report, Tom Webb, used-vehicle values, Wholesale Pricing

February 14, 2017 - Industry News

Group 1’s U.S. F&I Team Delivers Record PVR

For the year, the nation’s third largest dealer group grew its U.S. F&I per-copy average by $129 from the prior year to $1,644. Company officials, however, tell investors and equity research analysts ‘not to model anything higher.’

Tags: F&I manager, F&I products, Group 1 Automotive, PVR

February 9, 2017 - Industry News

AutoNation Slips Below $1,600 Per Copy in Q4

The executive team from the nation's largest auto retailer paints a rosy picture for 2017, despite the effects of the ongoing Takata airbag recall and the looming threat of a Trump administration-ordered border tax on vehicles manufactured in Mexico and sold here.

Tags: AutoNation, Donald Trump, F&I manager, F&I profit per vehicle retailed, PVR, Takata

February 8, 2017 - Industry News

F&I Delivers for Asbury in Q4 2016

The group’s F&I operations posted a $60 increase in F&I profit per vehicle retailed during a quarter in which the nation’s eighth largest auto retailer chose volume over margin.

Tags: Asbury Automotive, F&I products, F&I profit per vehicle retailed, new-vehicle sales, used-vehicle sales

February 13, 2017 - Industry News

Subaru Tops KBB's 5-Year Cost to Own List

Photo courtesy of Subaru.

Subaru and Acura ranked as the top automotive brand in Kelley Blue Book's annual 5-Year Cost to Own awards, which highlights the top luxury and non-luxury brands in 21 vehicle categories.

Tags: Acura, Depreciation, Kelley Blue Book, Subaru

February 7, 2017 - Industry News

President of RouteOne Canada to Retire

Barry McMillan, who has led RouteOne Canada since 2003, will retire at the end of this month. Assuming his duties is Anthony Goulbourne, who was promoted to senior vice president.

Tags: digital retailing, F&I manager, RouteOne Canada

February 7, 2017 - Industry News

GWC Warranty Releases Fourth 'Behind the Wheel' Dealer Story

GWC Warranty's 'Behind the Wheel' dealer story series now features the story of Texas Cars Direct. It's the fourth video in the series, and focuses on owner Pete Bulban, who founded Texas Cars Direct more than 35 years ago.

Tags: F&I products, GWC Warranty Corporation, Pete Bulban, Texas Cars Direct, Used-Vehicle Service Contracts

February 7, 2017 - Industry News

Wise F&I Product Suite Now Available Through Reynolds DMS

The connection, which features erating and econtracting capabilities, provides access to the F&I product provider’s full suite of branded protection products, including GAPWise, WiseCARE, TIREWise, WISETVP, THEFTWise and KEYWise.

Tags: DMS, DMS integration, F&I manager, F&I products, Reynolds & Reynolds, Wise F&I

February 7, 2017 - Industry News

Brandon Honda, Sun Toyota Win DealerRater Consumer Satisfaction Awards

Brandon Honda and sister dealership Sun Toyota are winners of DealerRater’s 2017 Consumer Satisfaction Award, an annual recognition given to auto dealerships in the United States and Canada that deliver outstanding customer service as rated by online consumer reviews.

Tags: Brandon Honda, Customer Reviews, Dealerrater, Sun Toyota

February 9, 2017 - Industry News

GSFSGroup Names New President

Jeff M. Parent, president of GSFSGroup.

The F&I product provider announced this week the appointment of Jeff Parent as president. The 26-year veteran of the automotive business succeeds Steve Amos, who is retiring after nine years as GSFSGroup’s president.

Tags: F&I products, GSFSGroup, Jeff Parent, reinsurance, Steve Amos

February 7, 2017 - Industry News

Cardone Endorses VinSolutions' Connect CRM

According to officials, this is the first time the sales expert and trainer has endorsed a dealership software solution in his more than 30-year career.

Tags: CRM, Dealership Solutions, Grant Cardone, VinSolutions

February 16, 2017 - Industry News

D.C. Circuit Grants CFPB’s Request to Defend Single-Director Structure

The D.C. Circuit granted the bureau’s request to reconsider last October’s three-judge ruling that the bureau’s structure is unconstitutional, vacating a decision that gave the president the authority to remove the director of the CFPB at will.

Tags: auto finance, CFPB, dealer participation, Donald Trump

February 9, 2017 - Industry News

Portfolio Named Endorsed Provider by Wyoming Dealer Association

The dealer reinsurance program manager announced it has entered into an agreement with Wyoming Automobile Dealers Association to bring reinsurance profit participation and retrospective commission programs to the association and member dealers who sell Portfolio F&I products.

Tags: F&I products, Portfolio, reinsurance, Wyoming Automobile Dealers Association

February 13, 2017 - Industry News

VisionMenu Releases Remote F&I

The software maker announced the release of Remote F&I, a remote menu, disclosure and document-signing web application. The new offering comes equipped with vSignature, a patent-pending technology that allows the user to control what a customer views on his or her smartphone. It also allows buyers to esign any document.

Tags: F&I manager, F&I menu, F&I products, Ron Martin, VisionMenu Inc.

February 9, 2017 - Industry News

GWC Warranty Appoints Director of Marketing Strategy

The F&I product provider announced this week the promotion of Mike Silverman, who joined the company in 2014 as manager of product strategy, to director of marketing strategy.

Tags: F&I products, GWC Warranty Corporation

January 31, 2017 - Industry News

EFG Companies: F&I Industry Faces Murky 2017

John Pappanastos, president and CEO of EFG Companies

The expected regulatory rollback, plateauing sales, rising interest rates, and the push to change the in-dealership experience clouds the F&I industry’s future, EFG Companies said today. Four of the firm's executives offered their predictions for 2017.

Tags: Consumer FInancial Protection Bureau, digital retailing, Donald Trump, EFG Companies, interest rates, new-vehicle sales, Regulations, used-vehicle sales

February 14, 2017 - Industry News

U.S. Dealers Added Stores, Lost Sales in 2016

Texas dealers led the nation by adding 15 new rooftops in 2016, according to a new report from Urban Science. Photo by LoneStarMike

Urban Science analysts said average per-store sales in the United States fell by a single unit in 2016, despite a slight uptick in rooftops and franchises.

February 13, 2017 - Industry News

Exeter Names New CFO

The subprime finance source announced the promotion of Brad Nall to CFO. The more than 25-year veteran of the consumer finance industry has held various senior roles since joining the company in July 2012.

February 13, 2017 - Industry News

LeasePlan Names Schlesinger President, CEO

Jeff Schlesinger was named president and CEO of LeasePlan USA, a fleet management company. Schlesinger succeeds Mike Pitcher, who retired as president and CEO at the end of 2016.

Tags: GE Capital, Jeff Schlesinger, LeasePlan USA

February 16, 2017 - Industry News

Tom Hudson Releases Book on Fed Government’s War on Dealers

In his new book, the attorney traces actions over the last five years by the Consumer Financial Protection Bureau and the Federal Trade Commission. It addresses the government's war on several fronts, from advertising and discrimination to disclosure requirements and other everyday compliance issues.

Tags: compliance, Consumer FInancial Protection Bureau, dealer participation, F&I manager, Federal Trade Commission, Hudson Cook LLP, Tom Hudson