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March 1, 2018 - Industry News

AIADA to Trump: Tariffs Will Raise Vehicle Prices

President Trump’s proposed tariffs on imported steel and aluminum have drawn the ire of the American International Automobile Dealers Association, whose president offered a sharp rebuke to the plan.

March 1, 2018 - Industry News

EFG Sweeps Stevie Awards

EFG Companies was recognized in four out of four categories in the 12th Annual Stevie Awards for Sales and Customer Service.

March 1, 2018 - Industry News

APCO Adds Anne Bélec to Board of Directors

The F&I product provider’s new board member spent 24 years with Ford Motor Co., where she served as director of global marketing for Ford, president and CEO of Volvo Cars of North America, and president of sales operations for Volvo Car Corp. in Sweden.

Tags: APCO, EasyCare, F&I product provider, F&I products, Ford Motor Co. Volvo Cars, GWC Warranty

March 1, 2018 - Industry News

FrogData Names Arenson Senior Sales Consultant

Dealertrack alum Paul Arenson has joined FrogData as senior sales consultant, continuing a ‘rapid expansion’ of the company.

March 1, 2018 - Industry News

KBB: Average New-Car Prices Rise 2% in February

Transaction prices have remained unaffected so far this year by the expected slowdown in new-vehicle demand. Notable increases were recorded by American Honda, Toyota Motor Co., and Volkswagen.

Tags: Average Transaction Price, Honda, Kelley Blue Book, Toyota, Volkswagen

February 28, 2018 - Industry News

Mitsubishi Names Fred Diaz CEO of North America

Fred Diaz previously served in Nissan’s commercial truck division. He succeeds Ryujiro Kobashi, who served as Mitsubishi North America’s president and CEO for the last four years.

Tags: Fred Diaz, Mitsubishi, Nissan

February 28, 2018 - Industry News

Jumpstart: Shopper Interest in Full-Size Pickups Climbs in February

Shopper interest in the redesigned Ram 1500 climbed 172% in February, according to Jumpstart. (Photo courtesy of FCA USA)

The full-size pickup was the No. 3 most-shopped segment on the media company’s portfolio of automotive websites. The main drivers were luxury-oriented consumers, who were seen cross-shopping full-size pickups in February.

February 28, 2018 - Industry News

Dealer-FX Adds Service Payment Feature

A partnership with OpenEdge has allowed Dealer-FX to add a feature service customers can use to review and pay invoices from a mobile device or computer.

February 27, 2018 - Industry News

NextGear Enhances Account Management Platform

The floorplan financing provider has updated its Account Portal management platform with a new feature that allows dealers to opt into a recurring and automated payment system.

Tags: auto finance, floorplan financing, NextGear Capital, technology

February 27, 2018 - Industry News

LMC, J.D. Power: Mixed Results Expected for February

Average incentive spending in February is poised to fall for the first time since 2013 due to lower spending by Domestic manufacturers on trucks and SUVs. The two firms also project a 400,000-unit decrease in the SAAR and a 3% decline in retail sales.

Tags: incentives, J.D. Power, LMC Automotive, new-vehicle sales, SAAR

February 27, 2018 - Industry News

Intersections Launches Data Breach Readiness Program

Data Breach Readiness is Intersections Inc.’s newest cybersecurity layer for auto dealers and other business owners.

February 27, 2018 - Industry News

DriveTime Names New CEO

The used-vehicle retailer has named Don Reese as its new CEO. He replaces Ray Fidel, who stepped down as the company's chief executive in January.

Tags: Don Reese, DriveTime, Ray Fidel, used-vehicle sales

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