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January 23, 2018 - Industry News

Manheim Reports Growth in Digital, Mobile Channels

The auction company’s directors say record-level activities in 2017 portend further growth for its offsite channels this year.

January 22, 2018 - Industry News

Zurich to Focus Heavily on F&I in 2018

Zurich North America is reshaping its dealer P&C portfolio to address 'persistent underperformance due to continued volatility associated with large and catastrophic hail losses." As a result, Zurich will focus heavily on F&I in 2018, a spokesperson said last week.

Tags: F&I office, F&I process, F&I products, P&C insurance, vehicle service contracts, Zurich

January 22, 2018 - Industry News

Black Book: Vehicle Depreciation Dropped to 13.2% in 2017

The average price of a used vehicle for model years 2012–’16 depreciated in value by 2.9%. Cars overall dropped by 3.0% and trucks decreased by 2.8% in value during December.

January 22, 2018 - Industry News

Dominion Launches Cloud-Based DMS

Dominion Dealer Solutions announced the launch of Dominion VUE, a new, cloud-based dealer management system.

January 18, 2018 - Industry News

Crowe Horwath Plans Tax Reform Webinar

A free webinar offered by Crowe Horwath will review key considerations for dealers concerned about the effects of the recently enacted federal tax reform.

January 18, 2018 - Industry News

TagRail Launches Digital Retail Platform

Add TagRail to the growing list of companies offering a digital retail platform. The company’s online car-buying tool is designed to close more online shoppers through a frictionless online transition from their living room to the showroom.

Tags: auto finance, digital retailing, F&I products, online F&I, TagRail, technology

January 18, 2018 - Industry News

Jumpstart: Mustang Most-Viewed Vehicle of 2017

The Ford Mustang drew more interest from car buyers than any other vehicle for the fourth consecutive year, according to the latest report from Jumpstart Automotive Media.

January 18, 2018 - Industry News

Drive Motors: Digital Retailing Delivers Holidays Sales Gains

Drive Motors’ dealer clients sold almost three times as many cars online on Christmas Day 2017 than they did the same day in 2016 thanks to its digital retailing platform, the firm revealed this week.

Tags: auto finance, digital retailing, Drive Motors, online F&I, technology

January 17, 2018 - Industry News

F&I Express Adds to Leadership Team

The firm today announced the appointment of Gary Peek, a more than 20-year software industry veteran, as CIO. Also joining the company is Mike Llewellyn, who will serve as product manager for F&I Express’ ecancellation solution, Express Recoveries.

Tags: digital retailing, F&I Express, online F&I, technology

January 17, 2018 - Industry News

Range Rover Wins IHS Markit Loyalty Award

The Land Rover Range Rover earned the highest loyalty score for any luxury full-size SUV in IHS Markit’s 2017 model-year rankings.

January 17, 2018 - Industry News

LotLinx Names Gee Leung COO

Leung brings 20 years of digital media and technology experienced to LotLinx’s growing executive team.

January 17, 2018 - Industry News

Norman/Classic Adds Diminished Value and Depreciation Programs

The two new programs are backed by Lyndon Southern Insurance Co. The first provides a trade-in credit of up to $10,000 if a vehicle is involved in a collision and repaired, while the other pledges to cover depreciation (up to $10,000) if a vehicle is stolen and not recovered or is deemed a total loss as a result of an accident.

Tags: AM Best, F&I product, Lyndon Southern Insurance Company, Norman & Co., trade-in value, vehicle depreciation

January 16, 2018 - Industry News

Black Book: Subcompact Crossovers Register Steep Value Declines

Subcompact crossovers joined the full-size vans and minivans as the truck categories registering the steepest declines in value last week, while subcompact cars joined full-size cars and sporty cars as the depreciation leaders in the car segment.

Tags: Black Book, cars, subcompact cars, subcompact crossover, trucks, vehicle depreciation

January 16, 2018 - Industry News

Cox Automotive: Car Buyers Still Need Dealers

The latest research by Cox Automotive finds car buyers continue to rely on instore visits even as digital information sources proliferate.

Cox Automotive’s ‘Future of Digital Retail Study’ reveals that dealerships remain central to the car-buying experience, but the instore experience tends to fall short of consumer expectations.

January 11, 2018 - Industry News

What’s Next? Experts to Share 2018 Predictions in Complì Webinar

Complì’s ‘2018 Predictions for Dealers’ webinar will feature a who’s who of automotive industry thought leaders.

January 11, 2018 - Industry News

Judge Again Rules in Favor of Trump in Battle for Control of CFPB

A federal judge denied a request by a high-ranking CFPB official for a preliminary injunction to remove President Trump’s appointee as acting head of the agency. The decision sets the stage for a possible appeal.

Tags: auto finance, CFPB, compliance, dealer markups, Donald Trump, Leandra English, Mick Mulvaney, Richard Cordray

January 11, 2018 - Industry News

InterActiveTel Welcomes Bounds to Director Role

Jeff Bounds, former national sales director for Dominion Dealer Solutions, has joined InteractiveTel as the company’s director of business development.

January 11, 2018 - Industry News

Chase Joins AutoFi’s Digital Retailing Platform

Through the newly forged partnership, Chase will deliver financing terms online through the AutoFi Platform. The finance source is the first national bank to join the Ford Credit-backed AutoFi platform.

Tags: AutoFi, digital retailing, online F&I

January 11, 2018 - Industry News

Seller’s Market: 33% of Americans Want New Cars

Nearly one-third of licensed U.S. drivers are thinking about buying a new vehicle in 2018 and 15% said they will, according to a new survey commissioned by GM BuyPower Card.

January 10, 2018 - Industry News

Digital License Plate Maker Closes $11.1 Million Finance Round

The funding round, which will allow Reviver Auto to expand the footprint of its digital license plate, was led by Australian-based ACK Group. The firm also announced the addition of two new members to its board of directors, former Emotient CEO Ken Denman and former R.L. Polk CEO Stephen Polk.

Tags: digital license plate, Reviver Auto

January 10, 2018 - Industry News

Stanton Returns to the NADA as COO

Michael Stanton Jr., former vice president and general manager of J.D. Power’s Vehicle Valuation Practice, formerly known as the NADA Used Car Guide, has returned to the NADA to work across the organization on strategic and operational issues.

Tags: JD Power, NADA, NADA Used Car Guide

January 10, 2018 - Industry News

Dealertrack Unveils 2018 Compliance Guide

Dealertrack has released the 13th edition of its Compliance Guide, a free resource for industry members, including dealers and F&I professionals.

January 10, 2018 - Industry News

Renault Alliance Launches $1B Fund for Next-Gen Mobility

Alliance Ventures, a new corporate venture capital fund, will act as the main interface for startups, investors, and the venture capital ecosystem, and will prioritize open innovation in new mobility, including electrification, autonomous systems, connectivity, and artificial intelligence.

Tags: Autonomous Driving, Connected Vehicle, Mitsubishi, mobility, Nissan, Renault

January 10, 2018 - Industry News

Manheim Market Report Reaches 23 Million Visits in 2017

After making upgrades to its Manheim Market Report this past summer, Manheim announced today that more than 90,000 unique users, on average, access MMR each month.

Tags: Auction, Manheim, wholesale vehicle valuations

January 9, 2018 - Industry News

Survey: Online F&I Improves CSI

Customers who are able to initiate the financing and F&I product selection process online report a better overall car-buying experience, according to a new survey from SpringboardAuto.