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May 23, 2018 - Industry News

Autotrader Names 10 Best Non-Luxury and Luxury CPO Programs

Topping Autotrader’s 2018 lists of non-luxury and luxury CPO programs were Hyundai and Lexus, respectively. Both offer unrivaled warranty coverages, along with several perks that make them an ideal choice for shoppers looking for a lightly used model.

Tags: Autotrader, Certified Pre-Owned, Hyundai, Lexus

May 23, 2018 - Industry News

AAA: Crashes Shake Faith in Driverless Vehicles

Two surveys conducted less than a year apart show Americans are increasingly anxious about the growing presence of autonomous vehicles on public roads.

May 23, 2018 - Industry News

California New-Vehicle Sales Expected to Exceed 2 Million in 2018

With the car market having plateaued after several years of increases, the California New Car Dealers Association said it continues to see increasing demand for larger, more family-friendly vehicles. But with gas prices continuing to increase, that trend could shift in the quarters ahead.

Tags: California, California New Car Dealers Association, new-vehicle sales, SUV

May 21, 2018 - Industry News

Trump Signs Repeal of CFPB’s Dealer Participation Guidance

The president’s signature comes exactly five years and two months after the bureau put the auto finance industry on notice with its controversial guidance on dealer rate markups.

Tags: auto finance, CFPB, compliance, dealer participation, guidance, rate markups

May 18, 2018 - Industry News

RMS Adds AI-Powered Portfolio Tools

RMS Automotive’s new Optimization suite was designed to leverage the combined power of machine learning and Cox Automotive data.

May 18, 2018 - Industry News

RoadVantage Adds Don Oliver as SVP

Thirty-year industry veteran Don Oliver has joined RoadVantage as senior vice president of operations.

May 17, 2018 - Industry News

Spireon Named Telematics Company of the Year

Compass Intelligence has named Spireon as the industry’s best telematics provider for 2018.

May 17, 2018 - Industry News

Update: Ford to Restart Truck Production

Ford will resume assembly of the top-selling F-150 pickup Friday following a shutdown that followed a structure fire at a key parts supplier.

May 17, 2018 - Industry News

Freed From CFPB Order, Toyota Financial to Raise Markup Caps

Toyota’s captive finance company announced it will raise its dealer markup caps following the early termination of consent orders issued by the Consumer Financial Protection Bureau and the Department of Justice.

May 17, 2018 - Industry News

Alpha’s Rosenvall Named Executive of the Year

Steve Rosenvall, CEO of Alpha Warranty Services, earned Executive of the Year honors in the 16th annual American Business Awards.

May 17, 2018 - Industry News

Luckett Joins Portfolio as Managing Director

Thirty-three-year industry veteran and former Warranty Group exec John Luckett has joined Portfolio as a managing director for sales and agent development.

May 16, 2018 - Industry News

Auto Finance Execs Acquire Stake in Horizon Digital

Industry veterans Mark Floyd and Kenneth Wardle have acquired an equity stake in Horizon Digital Finance Holdings.

May 16, 2018 - Industry News

Black Book: Car Values Down for First Time in Two Months

With the spring selling season now in the rearview mirror, the car segment broke its two-month streak last week of rising wholesale values. Only full-size and sporty cars realized higher wholesale values through the week.

Tags: Black Book, car segment, depreciation, wholesale values

May 16, 2018 - Industry News

PassTime and Megasys Complete Integration

PassTime GPS users can now use Megasys’ origination and servicing platform to set up new accounts and manage assets.

May 15, 2018 - Industry News

Webinar: Who Will Take Up the CFPB's Torch?

Eric Johnson, partner at Hudson Cook LLP

On June 6, Hudson Cook LLP attorney and partner Eric Johnson will join F&I and Showroom’s Gregory Arroyo for Part 1 of the magazine’s compliance webinar series. He will examine the likely candidates to take up the CFPB’s torch, and explain why F&I product pricing isn't out of the regulatory woods just yet.

Tags: Attorneys General, compliance, dealer participation, Federal Trade Commission, regulation

May 15, 2018 - Industry News

LHM Wins Best of State Award

Salt Lake City-based Larry H. Miller Dealerships has earned an award from Best of State, a program designed to honor Utah’s best companies.

May 14, 2018 - Industry News

Classic Launches Production, Claims Tracking Platforms

Norman & Company has launched new website extensions designed to help agents and dealers track production and claims.

May 14, 2018 - Industry News

TransUnion: Auto Finance Registers Lowest Growth Rate Since Q1 2012

The firm attributed the slowdown to improvements in oil states and tightening underwriting guidelines, which have also helped stabilize delinquency rates.

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

May 14, 2018 - Industry News

Votes Pour in for 2018 Dealers’ Choice Awards

DCA voting has begun in earnest as auto dealers nationwide recognize their favorite vendors, suppliers, and finance sources.

May 10, 2018 - Industry News

Asbury Maintains $1,500 PRU, Goes Digital in Q1

Asbury Automotive executives reported on a busy first quarter that included a 2% increase in F&I revenue and gross profit per vehicle and the full embrace of two ‘omnichannel’ ecommerce tools.

May 10, 2018 - Industry News

Group 1 Hits Record PRU in Q1

Group 1 Automotive’s 117 U.S. dealerships averaged $1,718 in F&I gross profit per retail unit, a 4.9% increase from a year ago and a new company record.

May 10, 2018 - Industry News

US Fuel Prices Appear to Stabilize

AAA officials say the price of gasoline has leveled off at $2.81 per gallon after climbing more than 12% in March and April, but a steady seasonal uptick looms ahead.

May 10, 2018 - Industry News

Parts Fire Halts Production of Trucks, Vans

Production on the Ford F-150, GM’s full-size vans, and the Chrysler Pacifica has been disrupted by a fire that struck a major Detroit Three parts supplier last week.

May 8, 2018 - Industry News

House Approves Resolution to Repeal CFPB's Dealer Participation Guidance

As expected, the House approved the resolution of disapproval of the CFPB's guidance on dealer participation. With the Senate having voted on the resolution last month, all that's left to rescind the controversial guidance is President Trump's signature.

Tags: AFSA, auto finance, CFPB, compliance, dealer participation, guidance, NADA

May 8, 2018 - Industry News

Safe-Guard Canada Announces New Montreal Training Facility

The new facility is located just outside Montreal in St. Laurent, Quebec. It features a boardroom to host corporate and dealer personnel, a large training room, and business offices staged like real F&I offices to simulate real-world scenarios.

Tags: Canada, F&I manager, F&I office, F&I training, Safe-Guard