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January 3, 2018 - Industry News

Hudco Attorneys to Speak at ABA’s CFSC Winter Meeting

Attorneys Katie Hawkins and Jean Noonan of Hudson Cook LLP will speak at the American Bar Association’s Consumer Financial Services Committee 2018 Winter Meeting next week.

January 3, 2018 - Industry News

Toyota Recalls Pickups, Other Models for Overloading Risk

Photo of Toyota Tundra courtesy of Toyota

Toyota is recalling 649 vehicles because they may have labels that inaccurately specify load-carrying capacity, according to the National Highway Traffic Safety Administration.

Tags: NHTSA, Recall, Toyota

January 3, 2018 - Industry News

Marijuana Use Still Illegal on Calif. Roads

Photo by Evan-Amos/Wikimedia Commons

Marijuana sales for recreational use became legal in California on Jan. 1, but another change in state law prohibits smoking or consuming the drug while driving or riding in a vehicle.

Tags: California, Law, Regulations, Safety

January 3, 2018 - Industry News

Advanced Car Safety Tech Will Roll Out Gradually: HDLI

Screen shot illustrating Toyota's Safety Sense Lane Departure Alert system controls. Image courtesy of Toyota

The Highway Loss Data Institute (HLDI) has projected that 95% of registered vehicles in the U.S. will be equipped with automatic emergency braking in 2045 and equipped with adaptive headlights sometime after 2050.

Tags: Automatic Emergency Braking, Safety, technology

January 3, 2018 - Industry News

Gasoline Prices Jump to $2.49 Per Gallon

Photo by Vince Taroc

The national average price of unleaded gasoline jumped 5 cents to $2.49 per gallon in the first week of 2018 and has reached a level not seen since 2014 during the week that starts the new year, according to AAA.

Tags: Fuel Economy, Gas Prices

December 28, 2017 - Industry News

Top Chef Takes Helm at Florida Dealer Cafés

Culinary Institute of America-trained Chef Earl Weiss has taken his talents to the in-dealership restaurants at Morgan Auto Group’s Sun Toyota and Brandon Honda in Central Florida.

December 27, 2017 - Industry News

4 Automakers Offer Auto-Braking Standard on Most Cars

The 2017 Volvo XC60 SUV includes an updated City Safety AEB system. Photo courtesy of Volvo

Four of 20 automakers reported that automatic emergency braking (AEB) is standard on more than half of their 2017 model-year vehicles, according to an update released jointly by the National Highway Traffic Safety Administration and the Insurance Institute for Highway Safety.

Tags: automatic braking, Automatic Emergency Braking, NHTSA, Tesla Motors, Toyota, Volkswagen, Volvo

December 27, 2017 - Industry News

1.4M Ram Trucks Recalled for Shifter Issue

Photo courtesy of FCA US

FCA US is recalling an estimated 1.48 million Ram trucks in the U.S. to help prevent drivers from inadvertently moving the gear-shifter out of the “park” position because of a faulty brake transmission shift interlock.

Tags: FCA, Ram, Recall, vehicle recall

December 27, 2017 - Industry News

Ford Mustangs Recalled for Instrument Clusters

Photo of Ford Mustang courtesy of Ford

Ford Motor Co. is recalling 2,100 2018 Ford Mustangs so dealers can update the instrument cluster software to address a potential vehicle rollaway risk.

Tags: Ford, Ford Mustang, Recall, Repair, software

December 27, 2017 - Industry News

Nissan Appoints Renault's Le Vot to Oversee North America

Le Vot Photo: Nissan Motor Co.

Nissan Motor Co. has appointed Denis Le Vot to oversee North American sales. Le Vot arrives from Renault, where he has held multiple positions since joining the French automaker.

Tags: leadership, Nissan, People

December 27, 2017 - Industry News

Tax Cut Should Spur Fleet Industry Growth

Photo via Gage Skidmore/Wikimedia.

A tax reform bill signed by President Donald Trump on Dec. 22 is expected to spur economic expansion, bring off-shore corporate revenues back to the U.S., and help fleet management companies make decisions about their operations that aren't tax driven.

Tags: Donald Trump, fleet sales, Tax Revenues

December 26, 2017 - Industry News

LotLinx Announces Move to Bolster VDPs

A new integration with CarNow was designed to strengthen LotLinx’s vehicle display pages.

December 26, 2017 - Industry News

Manheim Hosts ‘Digital Block Sale’ for BMW Financial

The November event allowed dealers to access BMW Financial Services inventory from three Manheim sites via the factory’s Performance Center in Thermal, Calif.

December 21, 2017 - Industry News

J.D. Power: Used Vehicle Price Index Falls 1.4% in November

Underperforming van and car segments led to a decline in J.D. Power's used vehicle price index in November, a reversal from the index's previous three months of consecutive growth.

Tags: J.D. Power, new-vehicle sales, SAAR, Used Vehicle Price

December 21, 2017 - Industry News

NY AG Sues Two Dealerships Over the Sale of Etch

New York Attorney General Eric Schneiderman has filed a lawsuit against Victory Mitsubishi of Larchmont and Victory Suzuki of the Bronx, charging the stores with selling an ‘unwanted and bogus’ anti-theft product.

December 20, 2017 - Industry News

UPDATED: Core F&I Product Could Put Some Auto Finance Deals Under Military Lending Act’s Requirements

Based on an interpretive rule issued by the Defense Department on Dec. 14, including credit-protection products like GAP in a servicemember’s vehicle finance contract could subject it to a slew of restrictions and requirements under the Military Lending Act (MLA).

Tags: compliance, credit insurance, Department of Defense, F&I products, GAP, Military Lending Act, National Automobile Dealers Association, servicemembers

December 19, 2017 - Industry News

VisionMenu Releases Paperless Deal Jacket

Using Paperless Deal Jacket, any form may be signed at the dealership or remotely using the customer’s smartphone. This is facilitated by VisionMenu’s patent-pending vSignature technology.

December 19, 2017 - Industry News

Wells Fargo Names New Head of Consumer Lending

About a month after dismissing its former head of consumer lending, Wells Fargo named Mary Mack to the post. The 33-year Wells Fargo veteran will maintain her prior duties as senior executive vice president of community banking, which she has led since July 2016.

Tags: auto finance, Wells Fargo, Wells Fargo Dealer Services

December 18, 2017 - Industry News

Black Book: Hurricanes Boosted Used-Vehicle Values 2%

Courtesy of Enterprise Holdings.

The firm said hurricanes Harvey and Irma had a similar effect on used-vehicle values as the Clash for Clunkers program had on values in 2009.

December 18, 2017 - Industry News

Auto/Mate Promotes Vickers to Regional Sales Manager

David Vickers

David Vickers has earned a promotion from customer success manager to regional sales manager for New York and Pennsylvania at Auto/Mate Dealership Systems.

December 18, 2017 - Industry News

FTC Reminds Businesses of Duties to Victims of Identity Theft

The Fair Credit Reporting Act’s ‘business records turnover provision’ requires that business provide free of charge and without subpoena records relating to the theft within 30 days of a victim’s written request.

Tags: auto finance, FTC, identity theft, Red Flags Rule

December 15, 2017 - Industry News

TrueCar Settles California Dealer Suit

TrueCar has agreed to switch California auto dealers from a pay-per-sale to a flat-fee subscription model and double their indemnity to $50,000 to settle a lawsuit brought by the California New Car Dealers Association.

Tags: California New Car Dealers Association, compliance, digital retailing, third-party sites, TrueCar

December 14, 2017 - Industry News

RouteOne Processes Industry's First Remotely Executed Finance Contract

RouteOne moved the industry closer to the fully online transaction by executing the first remotely captured, electronic customer signature on an indirect finance contract. The executed contract was booked with Toyota Financial Services.

Tags: auto finance, digital retailing, econtracting, online F&I, RouteOne

December 14, 2017 - Industry News

Scott Painter’s Fair Now Offers Insurance Coverage

Through a partnership with risk-management services provider Assurant, Fair's digital flexible ownership platform now allows consumers to add insurance coverage when they sign for a pre-owned vehicle through its mobile app.

Tags: digital retailing, Fair, Scott Painter, Subscription Service

December 14, 2017 - Industry News

Fed Reserve Raises Interest Rates

One industry analyst said the quarter-point hike will result in new-vehicle sales dropping below 17 million units in 2018, noting that the Fed Reserve’s previous three increases are responsible for fewer new leases and this year’s shift from new to used.

Tags: auto finance, auto loan, F&I office, Federal Reserve, interest rates