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February 27, 2018 - Industry News

Darwin Adds Accessories Functionality With RevolutionParts

The new feature was designed to empower dealers to capture their share of the multibillion-dollar online auto parts market.

February 26, 2018 - Industry News

Auto/Mate Integrates With Bluebird Auto Rental Systems

A new partnership between Auto/Mate and Bluebird was designed to streamline the loaner car process for dealers.

February 22, 2018 - Industry News

TransUnion: Auto Loan Growth Slowing

Originations continued to fall at a faster rate than previous years, as finance sources continued to tighten underwriting standards during 2017’s end-of-year quarter. TransUnion officials, however, say the sector is performing well as the economy remains relatively strong.

Tags: auto finance, Auto Loan Balances, delinquencies, Originations, TransUnion

February 22, 2018 - Industry News

Military Lending Act's December Update More Harmful Than First Thought

Robert Wilkie, Under Secretary of Defense for Personnel and Readiness.

A Hudson Cook attorney told industry trade groups in a Jan. 18 memo that the Defense Department’s Dec. 14 interpretative rule, combined with something else it did in July 2015, makes it ‘highly unlikely that any dealer or finance source will be willing to originate or purchase’ a vehicle finance transaction if credit-protection products are included.

Tags: auto finance, compliance, credit insurance, Department of Defense, GAP, Hudson Cook, Military Lending Act

February 22, 2018 - Industry News

VW’s New California Port Should Lower OTD Times

A new facility at San Francisco Bay’s Port of Benicia will support distribution of vehicles to Volkswagen, Audi, Bentley and Porsche dealers.

February 22, 2018 - Industry News

Carvana Adds Vehicle Pickup Garages

Carvana Curbside creates a new option for the online retailer's users: street-facing garages that house sold used vehicles.

February 22, 2018 - Industry News

US Bank to Offer Financing Decisions Through AutoGravity

A new partnership between U.S. Bank and AutoGravity adds a vehicle-financing application and pre-approval component to U.S. Bank’s website.

February 22, 2018 - Industry News

Volvo to Add V60 Wagon to Subscription Service

Photo Courtesy of Volvo Cars

Volvo Cars said this week it will add its V60 to its Care by Volvo subscription program when the redesigned station wagon makes its U.S. arrival in 2019.

Tags: Care by Volvo, station wagon, Subscription Service, V60, Volvo

February 21, 2018 - Industry News

Going Big: Californians Sour on Small Cars

The CNCDA reports California dealers closed out 2017 with a marked increase in sales of larger vehicles and a corresponding decline in small-car sales.

February 21, 2018 - Industry News

AutoLoop Identifies Fixed-Ops Pitfalls

A new white paper from AutoLoop identifies three reasons for the gap between dealership service department processes and customer expectations.

February 20, 2018 - Industry News

Blinker Adds Ally’s F&I Protections, Expands Into Florida and California

Blinker was founded in 2016 by a team of industry veterans from US Bank, CarMax, GM Financial, and Cox Automotive. With this week’s announcements, the startup is quickly gearing up to take on private-party marketplaces like Craigslist, Letgo, Autotrader, Cars.com and Facebook Marketplace.

Tags: auto finance, Blinker, digital retailing, Fintech, online F&I, private-party sales

February 20, 2018 - Industry News

ELEAD1ONE Introduces DealBuilder Digital Retailing Solution

ELEAD1ONE’s ‘game-changing’ application was designed to keep dealerships central to the online car-buying process.

February 15, 2018 - Industry News

New York Fed: Credit Scores Rise as Household Debt Reaches New Peak

Credit scores in the fourth quarter of 2017 were only a half a point higher than the median score recorded during the first quarter of 2009. And according to the Federal Reserve Bank of New York, 2017 auto loan origination volume reached the highest level it has ever observed.

Tags: auto finance, delinquencies, Federal Reserve Bank of New York, Great Recession, origination volume

February 15, 2018 - Industry News

FordDirect Dealers Get CarStory Access

A new partnership with CarStory gives Ford and Lincoln dealers who own FordDirect websites access to CarStory’s AI- and analytics-based market reports.

February 15, 2018 - Industry News

ACV Becomes NIADA Partner

ACV Auctions has become a national corporate partner of the National Independent Automobile Dealers Association, giving member dealers access to ACV’s inventory management platform.

February 14, 2018 - Industry News

EFG: Digital Retailing, Online F&I Increasing Data Security Risks for Dealers

John Pappanastos, CEO and President of EFG Companies

The F&I product provider issues a call to action to dealers, finance sources and its partners, warning that data security is one of the largest areas of concern in 2018.

Tags: breach, data security, digital retailing, EFG Companies, online F&I, technology

February 14, 2018 - Industry News

Cox Promotes Williams to VP of Logistics

Cox Automotive has promoted Jim Williams to senior vice president of logistics, joining the company’s Inventory Solutions team.

February 14, 2018 - Industry News

Cars.com Acquires Dealer Inspire, LDM

Cars.com announced the impending acquisition of Dealer Inspire and Launch Digital Marketing, a move designed to augment Cars.com’s retailing platform with a range of dealer-focused digital solutions.

February 14, 2018 - Industry News

PAC Offers Free MLA Compliance Calculator

Partners Alliance Corp. has introduced a calculation solution designed to help dealers address the December 2017 interpretation of the Military Lending Act.

February 13, 2018 - Industry News

BB&T Switches Back to Markups as CFPB Shifts Away From Enforcement

BB&T Tower in Atlanta (Wikimedia Commons and seniorliving.org)

BB&T announced its move about a week after the CFPB’s acting director stripped enforcement powers from the division responsible for pursuing discrimination cases in the auto finance arena. BB&T will officially make the switch on March 14.

Tags: auto finance, BB&T, CFPB, compliance, dealer participation, Mick Mulvaney

February 13, 2018 - Industry News

Autosoft Partners With NIADA

NIADA members can enjoy special pricing on Autosoft’s DMS offerings as part of a new partnership between the association and the software provider.

February 13, 2018 - Industry News

ADG EasyCare Adds Yelverton to F&I Specialist Roster

Richard Yelverton has joined ADG EasyCare as a Northern Virginia-based F&I specialist.

February 13, 2018 - Industry News

SmartAuction Adds Off-Lease Nissan, Infiniti Units

Registered dealers can now use Ally’s SmartAuction to access listings of off-lease vehicles from Nissan Motor Acceptance Corp. and Infiniti Financial Services.

February 12, 2018 - Industry News

Hyundai, Acura Take Top Honors in KBB’s ‘5-Year Cost to Own’ Awards

The firm named Hyundai as the brand with the lowest cost to own and Acura as the lowest cost luxury brand. Top vehicles were selected in 22 categories.

Tags: Acura, Cost to Own, General Motors, Hyundai, Kelley Blue Book, Toyota

February 12, 2018 - Industry News

AUL Surpasses Two Million Contracts Issued

The company achieved its milestone in a third of the time it took to reach one million policies issued, which AUL did in 2011. Officials said 2017 was the vehicle service contract provider’s best performing year since its founding in 1990.

Tags: AUL Corp., F&I products, milestone, vehicle service contracts