AutoGravity, a new car-shopping app that allows car shoppers to arrange their financing, has added Mercedes-Benz Financial Services. The partnership gives AutoGravity users access to the captive's loan and lease offers.
Last week, cars showed better retention that they did the previous four weeks, while trucks depreciated more than they have during that same timeframe, Black Book reported today.
Jeff York, the previous general manager of ADESA Sarasota, will now lead ADESA Orlando as general manager. Curt Farris, the previous general manager of ADESA Tampa, will now hold the same title at ADESA Sarasota, and Lisa O’Neil, who was previously the assistant general manager at ADESA Atlanta, will now serve as general manager at ADESA Tampa.
Chase Auto Direct, which is being powered by TrueCar, will allow current Chase customers to shop for a new vehicle and secure financing on a desktop computer or smartphone. The portal will then connect shoppers to a dealership in the Chase dealer network.
Industry veteran Dominic Sansone was named president of Matrix Warranty Solution's automotive division. He will be responsible for developing new distribution channels, expanding relationships with customers, increasing sales, creating innovative new warranty/service contract programs, and structuring the automotive division for future growth.
U.S. consumers paid, on average, $34,372 for a new light vehicle in September, up 2.5% from a year ago but down 0.2% from August, KBB reported this week.
CNA National announced this week that claims specialist Marty Bourgeois was selected as the recipient of the 2016 CNA Chairman’s Award. Bourgeois, according to the company, was selected for demonstrating all five of the company's “winning behaviors,” which include accountability, collaboration, continuous learning, external focus, and innovation.
Wells Fargo Dealer Services has agreed to pay more than $4.1 million to settle charges that it violated the Servicemembers Civil Relief Act (SCRA) when it repossessed 413 vehicles owned by protected servicemembers without obtaining a court order, the U.S. Department of Justice (DOJ) announced on Friday.
The Federal Trade Commission today charged nine Los Angeles-area dealerships and their owners with a wide range of deceptive, and unfair sales and financing practices, including payment packing and using "yo-yo" finanicng tactics.
Employees at new-car dealerships made, on average, $69,718 a year in 2015, a 1% increase compared to the year prior, according to the NADA’s 2016 Dealership Workforce Study. General managers and F&I managers experienced double-digit percentage earnings growth rates, while sales managers and sales consultants increased 4.5% and 2.7%, respectively.
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