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July 10, 2018 - Industry News

FCA Launches Dealer Market Investment Program

Financed in part through relationships with Chrysler Capital and Ally Financial, Fiat Chrysler’s new program aims to identify and develop high-potential candidates to join its U.S. dealer network.

July 10, 2018 - Industry News

GWC Introduces Major Account Management Team

GWC Warranty has assembled a veteran team of industry experts to manage its largest dealership partnerships.

July 9, 2018 - Industry News

CFPB Official Who Sued Trump Resigns, Drops Suit

The CFPB official who went to court last year after Trump appointed Mick Mulvaney as acting director announced on Friday she is leaving the embattled regulator. In a tweet, her attorney said the CFPB official is also dropping her legal fight to be the regulator's acting director.

Tags: auto finance, CFPB, compliance, Consumer Financial Protection Bureau, Donald Trump, Leandra English, Mick Mulvaney, Richard Cordray

July 9, 2018 - Industry News

LotMonkey Expands Into Four New Markets

The company’s web-based merchandising platform is now available in Philadelphia, Louisville, Ky., Long Island, N.Y., and northern New Jersey. It allows dealers to instantly create and customize an infinite array of point-of-sale visuals.

Tags: branding, LotMonkey, marketing, point of sale, showroom

July 9, 2018 - Industry News

AFS Renamed Credito Real USA, Poised to Expand

AFS Acceptance has officially been renamed Credito Real USA, two years after being acquired by Mexico’s Credito Real and on the eve of a planned market expansion.

Tags: AFS Acceptance, auto finance, Credito Real USA Finance, CRUSAfin, Scot Seagrave

July 9, 2018 - Industry News

NY AG: Brooklyn Dealership Targeted Non-English Speakers

Bay Ridge Honda has agreed to pay $423,000 in restitution and penalties to settle charges of deceptive acts and practices that followed dozens of complaints from aggrieved customers, many of whom are non-English speakers.

Tags: compliance, Deceptive Practices, fraud, payment packing, UDAP, Unfair Practices

July 7, 2018 - Industry News

NAE/NWAN Wins 2018 Dealers’ Choice Award

National Automotive Experts earned a Platinum award for F&I Product Training in the 2018 Dealers’ Choice Awards.

July 5, 2018 - Industry News

Edmunds: Stage Set for Market Contraction

June’s annual percentage rate of 5.82% marked a 17% increase since January 2018. Add rising rates to a virtually saturated U.S. market, record-high vehicle prices, and historically high numbers of people who owe more than their cars are worth, and the stage is set for a market contraction, the firm said.

Tags: Edmunds, Federal Reserve, interest rates, Negative Equity, new-vehicle sales, SAAR, used-vehicle sales

July 5, 2018 - Industry News

MSP 501 Ranks Helion at No. 65 Worldwide

Helion Automotive Technologies has been ranked No. 65 among managed service providers worldwide in the 2018 MSP 501.

July 3, 2018 - Industry News

Black Book: Wholesale Values Remain Stable at Start of Summer

Wholesale values continued to see little change last week, although demand for sporty cars appears to be dwindling as the average value of that segment has begun to drop.

Tags: Black Book, used-vehicle values, vehicle depreciation, wholesale values

July 3, 2018 - Industry News

KPA Acquires Auto Advisory Services Inc.

The acquisition of the F&I audit services firm enables KPA to become a single source for automotive compliance. The transaction closed on May 31.

Tags: Auto Advisory Services, auto finance, compliance, F&I office, KPA Services LLC

July 3, 2018 - Industry News

Hyundai Invests in Autotalks to Develop Connectivity Technology

The automaker will collaborate with Autotalks to develop the next generation Vehicle to Everything chipset for connected cars. The technology aims to improve vehicle and road safety, mobility and is viewed as vital for autonomous driving.

Tags: Autotalks, connected car, Hyundai, Vehicle to Everything

July 3, 2018 - Industry News

ZERO Plan Announces New 36-Month Terms

Universal Lenders now allows car buyers to extend the financing of service contracts and other F&I products up to 36 months.

July 2, 2018 - Industry News

StoneEagle Wins Diamond for F&I Tech in DCAs

Dealership professionals ranked StoneEagle No. 1 in the F&I Technology category in the 2018 Dealers’ Choice Awards.

July 2, 2018 - Industry News

Digital Air Strike Announces Facebook Integration

The integration allows the digital engagement company to deploy its artificial intelligence-powered real-time messaging solution, Response Path, on Facebook Messenger.

Tags: Digital Air Strike, digital engagement, digital marketing, social media marketing

July 2, 2018 - Industry News

FlexDrive to Drive South Florida Dealer's Subscription Program

Florida Fine Cars will launch AmeriDrive, a new subscription service that will operate on Cox Automotive’s and ARI’s Flexdrive platform.

July 2, 2018 - Industry News

Lexus Dealers Now Have TagRail

Lexus and TagRail have partnered to offer dealers a comprehensive new digital retailing tool.

July 2, 2018 - Industry News

DOWC Names Kas Nelson Director of Sales

Thirty-five year industry veteran Kas Nelson has joined Dealer Owned Warranty Company as director of sales.

June 29, 2018 - Industry News

Digital Air Strike Launches Facebook Assistant Feature

Response Path, an AI-powered intelligent messaging technology first introduced at NADA 2018, was designed to accelerate sales on Facebook and dealer websites.

June 28, 2018 - Industry News

Universal Lenders Wins Gold in Dealers’ Choice Awards

Universal Lenders, creator of the ZERO Plan, won Gold for F&I Product Financing Company in Auto Dealer Today’s 2018 Dealers’ Choice Awards.

Tags: Dealers' Choice Awards, F&I product financing, The Zero Plan, Universal Lenders

June 28, 2018 - Industry News

LMC/J.D. Power: First-Half Retail Sales Weakest in Four Years

Retail sales for the first half of 2018 are expected to be the weakest since 2014, but record transaction prices have consumers on pace to spend nearly $5 billion more on new-vehicle purchases during the period compared to a year ago.

Tags: Forecast, J.D. Power and Associates, LMC Automotive, new-vehicle sales

June 28, 2018 - Industry News

AUL Brings in Assurant’s David Chang as CFO

The 20-year industry veteran is expected to help fortify the VSC provider for its next phase of growth.

June 28, 2018 - Industry News

EasyCare Promotes Jacobsen to National Director for SAVY

Scott Jacobsen has been named national director of business performance for EasyCare’s SAVY platform.

June 28, 2018 - Industry News

UDS Wins DCAs for F&I and Compliance Training

United Development Systems earned first- and second-place honors in the F&I Training and Compliance Training categories, respectively, in the 2018 Dealers’ Choice Awards.

June 28, 2018 - Industry News

CNA National Named Top Provider for 14th Year in a Row

CNAN earned the 2018 Dealers’ Choice Diamond Award for best Service Contract provider, the company’s 14th consecutive first- or second-place ranking in the category, and a Platinum Award for Service Contract Reinsurance.