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October 12, 2017 - Industry News

NIADA Selects Wheel’s Auto as Exclusive CPO Supplier

The National Independent Automobile Dealers Association has named Wheel’s Automotive Dealer Supplies as its exclusive supplier of point-of-sale materials for the association’s certified pre-owned vehicles program.

October 11, 2017 - Industry News

Fastlane Chooses Market Scan as Data Partner

Fastlane offers dealers an Amazon-like checkout process for consumers who want to buy their car online. It has chosen Market Scan to provide its ecommerce platform with real-time payment and rebate information from every car manufacturer, bank and credit union in the country.

Tags: auto finance, digital retailing, F&I products, Fastlane, Market Scan, online F&I

October 11, 2017 - Industry News

Some Holiday: Dealer Traffic Down on Columbus Day

New data from Cox Automotive reveals that dealership visits and dealer website visits fell by 5% and 3%, respectively, during the holiday weekend compared with the six prior weekends.

October 11, 2017 - Industry News

CU Direct Partners With Inventory Command Center

ICC’s Command Center software enables CU Direct to more easily manage the 2.5 million vehicles in dealer partner inventory on the AutoSMART platform and shopping site.

Tags: credit unions, CU Direct, digital marketing, digital retailing, Inventory Command Center, inventory merchandising

October 11, 2017 - Industry News

Ally Takes Control of GAP Refunds

The finance source’s new policy took effect days before new allegations surfaced that Wells Fargo failed to deliver GAP refunds to borrowers. It states that Ally — not dealers — will directly refund the unearned portion of GAP waivers and insurance to borrowers within 45 days of the paid-in-full date.

Tags: Ally, auto finance, Consumer Financial Protection Bureau, GAP, Regulators

October 10, 2017 - Industry News

Hyundai Aims to Modernize Customer Experience

Hyundai is looking to modernize the car-shopping experience with this week's launch of Shopper Assurance in Miami, Orlando, Fla., Dallas, and Houston. The program, which will be rolled out nationally in 2018, is designed to make purchasing a vehicle easier, faster, and worry-free, officials said.

October 10, 2017 - Industry News

Business Leaders Cautiously Optimistic About Trump, Economy, Auto Sales

Despite a few political and economic setbacks, 2017 is expected to be one of the highest performing years on record in terms of auto sales. They key going forward is the Trump Administration’s ability to turn its pro-business campaign rhetoric into reality.

Tags: auto finance, Donald Trump, Hurricane Harvey, Hurricane Irma, new-vehicle sales, used-vehicle sales, White Clarke Group

October 10, 2017 - Industry News

Maserati Selects Affinitiv to Power Retention Program

Maserati North America has selected Affinitiv as its exclusive aftersales marketing provider for the OEM’s LUX owner retention program.

October 10, 2017 - Industry News

Cox Names Patrick Brennan to SVP Post

Cox Automotive has promoted Patrick Brennan to the role of senior vice president of marketplace for the company’s Inventory Solutions Group.

October 6, 2017 - Industry News

DealerStrong Releases 2017 Special Finance Benchmark Report

Developed in partnership with ProMax Unlimited, DealerStrong’s 2017 Special Finance Benchmark Report includes metrics derived from more than 300,000 new- and used-car dealership transactions.

October 5, 2017 - Industry News

CFPB Finalizes Small-Dollar Lending Rule

In announcing the rule, the bureau used wording the American Financial Services Association said makes an important distinction between traditional installment lending and payday and title lending.

October 5, 2017 - Industry News

US Equity Advantage Adds Four Markets

US Equity Advantage has expanded into Mississippi, New York, Tennessee and Washington, D.C., growing its territory to a total of 37 states.

October 5, 2017 - Industry News

LotLinx Announces Canadian Expansion

LotLinx has launched an invitation-only campaign to take its proprietary TURN artificial intelligence platform north of the border.

October 4, 2017 - Industry News

Alpha Warranty Celebrates 15th Anniversary

Over the past 15 years, the F&I product provider has earned multiple industry awards and distinctions for the service it provides to customers, agents, and dealers alike. It was recently acknowledged as the 11th fastest growing business in Utah.

Tags: agents, Alpha Warranty Services, dealers, F&I manager, F&I office, F&I products

October 4, 2017 - Industry News

Jaguar Land Rover Honors Winners of Marque of Distinction Award

Jaguar Land Rover North America LLC announced the 14 winners of its 2016/17 Marque of Distinction awards, which are the highest individual retail employee honor within the company's Journey to Excellence retailer reward and recognition program.

October 4, 2017 - Industry News

AutoBuy Adds Locations, Auction Partnerships

New Florida locations open inside Adesa Auction in Sanford and Manheim in Orlando are expected to increase buy/sell volume by more than 40% and create a unique remarketing model.

October 4, 2017 - Industry News

CarStory Delivers AI Insights to Flick Fusion

A new partnership combines CarStory’s artificial intelligence-based insights with Flick Fusion’s video marketing platform.

October 4, 2017 - Industry News

Wes Lutz Elected 2018 NADA Chairman

Michigan auto dealer Wes Lutz has been elected as the National Automobile Dealers Association’s chairman for the 2018 term, for which Texas dealer Charlie Gilchrist will serve as vice chair.

October 4, 2017 - Industry News

CDK Global, CarGurus Partner on New Marketing Solutions

Through the collaboration, dealers using CDK websites will gain exposure for their inventory as well as high-quality leads from CarGurus.com. CDK will also leverage the online automotive marketplace’s anonymized, aggregated data in its suite of automotive digital marketing solutions.

Tags: CarGurus, CDK Global, digital marketing, Internet Leads, inventory merchandising

October 4, 2017 - Industry News

Ford to Focus on Trucks, EVs, Connectivity

Photo of CEO Jim Hackett courtesy of Ford.

Ford CEO Jim Hackett said on Tuesday the automaker plans to reduce engineering costs by 50% through 2022. Ford will also shift investment into trucks and electrified vehicles, and reduce costs and investment in sedans and internal combustion engines.

Tags: Connected Vehicle, Electric Vehicles, Ford, Jim Hackett, Trucks

October 4, 2017 - Industry News

Diamondbrite N.A. Now Approved Provider on Universal Lenders' The Zero Plan

The partnership will allow dealers to provide customers who purchase Diamondbrite N.A. products, which include lifetime warranted paint, fabric, wheel, and leather protection, with premium financing through The Zero Plan.

Tags: Diamondbrite N.A., paint and fabric, The Zero Plan, Tire and Wheel, Universal Lenders

October 4, 2017 - Industry News

Black Book’s Index Records Largest Single-Month Increase Since 2012

Fueling the increase was vehicle replacement activity related to Hurricane Harvey, which began last month. According to Black Book, compact cars, compact crossover SUVs, full-size cars, and mid-size cars each realized significant month-over-month increases within the index.

Tags: Black Book, Hurricane Harvey, Used Vehicle Retention Index, used-vehicle values

October 3, 2017 - Industry News

KBB: September’s Avg. New-Vehicle Price Up $144 From a Year Ago

New-car affordability continued to be a challenge for car buyers, with the average transaction price closing in on $35,000 in September.

Tags: Acura, Average Transaction Price, Buick, Chevrolet, General Motors, Honda, Kelley Blue Book

October 3, 2017 - Industry News

CUDL: Credit Unions Capitalizing on Bank Retreat

Credit unions and captives continued to take advantage of the pullback by banks in the second quarter. The message coming out of CU Direct (CUDL)’s Sept. 28 webcast is that credit unions need to act fast before banks reconfigure their strategies.

Tags: auto finance, banks, Captive, credit unions, CU Direct

October 3, 2017 - Industry News

Sending Out an SMS: Car Buyers Prefer Texting to Calls

PERQ’s latest Car Buyer Insights Report upends preconceived assumptions about customers, finding that the majority of website visitors are not in the ‘buy’ phase and phone calls are their least desired method of contact.