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December 20, 2016 - Industry News

CRM Usage a Struggle for Average Dealerships, Study Shows

A recent study co-released by VinSolutions and DealerKnows analyzed customer relationship management (CRM) software usage at dealerships. It found some notable differences between average and best-in-class dealers.

Tags: CRM, DealerKnows, Study, VinSolutions

October 25, 2016 - Industry News

Millennial Car Buyers Busting Gender Stereotypes

Millennials are bucking the stereotype that women are damsels in distress and men are confident decisionmakers, according to new research from Edmunds.com.

Tags: Edmunds.com, Millennials, Study

October 19, 2016 - Industry News

Edmunds: Tacoma Truck Owners Are Most Loyal

According to Edmunds estimates, nearly 75% of Tacoma trade-ins this year have gone toward the purchase of another Tacoma. The popularity of Tacoma pickups, the study added, pushed Toyota’s overall truck loyalty rate to about 70%.

Tags: Study, Tacoma, Toyota, Trucks

September 29, 2016 - Industry News

Dealership Wages Outpacing Private Sector, NADA Study Shows

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.

Tags: Dealership, NADA, Study, Wages

August 15, 2016 - Industry News

J.D. Power: Speed No Longer Top Consideration When Selecting Finance Sources

While speed is no longer a leading factor, it still plays a significant role, according to J.D. Power's 2016 U.S. Dealer Financing Satisfaction Study. The finance sources leading the way in terms of dealer satisfaction were Mercedes-Benz Financial Services and BMW Financial Services.

Tags: dealers, J.D. Power, Lender, Study

August 3, 2016 - Industry News

Millennials Want to Buy Cars, Study Finds

Findings from the 2016 Credit Karma Millennial Report have revealed that 90% of Millennials throughout the country currently own a car or want a car.

Tags: Car Ownership, Millennials, Study

July 21, 2016 - Industry News

J.D. Power: Shopping Tools on OEM Websites Improves Customer Satisfaction

A new study from J.D. Power shows that online shopping tools on manufacturer websites significantly improves satisfaction for consumers shopping for a vehicle. The three best-performing sites belong to Land Rover, Jaguar, and Mercedes-Benz.

Tags: Dealer Websites, J.D. Power, Online Shopping, Study

July 19, 2016 - Industry News

OCC Expresses Concern About Rising Risk in Auto Finance

The Office of the Comptroller of the Currency has once against expressed concern about rising credit risks in the auto finance arena, noting that underwriting standards for both direct and indirect auto loans have begun to decline due to increased competition.

Tags: Indirect Lending, Regulations, Study, Underwriting

July 12, 2016 - Industry News

Infiniti Dealers Ranked Highest In Treatment of Customers

Infiniti dealerships treat its customers best, at least according to the newly released 2016 Pied Piper Prospect Satisfaction Index (PSI) U.S. Auto Industry Benchmarking study. Now in its 10th year, the study measures how car shoppers are treated at the dealership.

Tags: customer satisfaction, Dealership Experience, Infiniti, Study

June 29, 2016 - Industry News

Mobile Phones, Online Research Shrinking Shopping Window, Study Shows

From start to finish, the time it takes consumers to pull the trigger on a vehicle purchase is shrinking. And according to a new study from Jumpstart Automotive, Millennials are the reason.

Tags: Car Shopping, Consumers, Dealership, Jumpstart Automotive, Study

June 14, 2016 - Industry News

DealerRater Customers 3.5 Times More Likely to Buy a Car, Study Finds

A study conducted by Oracle Data Cloud has found that DealerRater is often the last website a consumer visits before securing a vehicle. Of the visitors who make a purchase, more than half complete the deal within four weeks of visiting the website, according to DealerRater.

Tags: Dealerrater, Online Purchase, Study

April 7, 2016 - Industry News

Drop in Fuel Prices Pushes 'Cost to Own a Vehicle' to Six-Year Low

Spurred by a nearly 25% drop in fuel price, the annual cost to own and operate a vehicle in the United States has fallen to a six-year low of $8,558, according to AAA’s 2016 Your Driving Costs study. The drop more than offset the increase in every other cost associated with vehicle ownership.

Tags: AAA, Cost to Own, Fuel Economy, Study

April 5, 2016 - Industry News

1.8 Million Off-Lease Vehicles Returning to the Market in 2016, Experian Reports

The amount of cars being leased has grown by 76% since 2008, according to an Experian Automotive study. By the end of 2016, 1.8 million off-lease vehicles will return to the market, the firm says.

Tags: Experian Automotive, lease, Study

March 17, 2016 - Industry News

Gen Z Prefers Face-to-Face Interactions, Test Drives, Study Shows

Generation Z may have grown up with more access to technology than Millennials, but buying online isn't what this emerging demographic prefers, according to a joint study from Autotrader and Kelley Blue Book.

Tags: Autotrader, Generation Z, Kelley Blue Book, Millennials, Study

March 10, 2016 - Industry News

KBB: Ride Sharing Not an Imminent Threat to Dealerships

A new study from Kelley Blue Book concludes that the growing popularity of ride- and car-sharing services does not pose an imminent threat to dealerships.

Tags: Dealerships, KBB, Ride-Sharing, Study, Survey

January 19, 2016 - Industry News

Vehicle Reliability a Growing a Concern for Car Buyers, J.D. Power Finds

The J.D.Power 2016 U.S. Auto Avoider Study examined the reasons consumers purchased, rejected and avoided models in the marketplace during 2015. According to the survey, vehicle reliability has become a top consideration.

Tags: Car Buyers, car buying, J.D. Power, Study, Survey

April 23, 2015 - Industry News

Putting F&I Online Increases Profits, MakeMyDeal Finds

A new study from Cox Automotive company MakeMyDeal found that 63% of consumers would be more likely to buy F&I products if they could learn about them on their own time before entering a dealership.

Tags: Cox Automotive, F&I products, Online Financing, Study

April 21, 2015 - Industry News

In-Vehicle App Integration to Rise, IHS Reports

In a new study highlighting the influence of mobile applications on car buyers, IHS Automotive officials said they expect significant growth in vehicle app integration over the next few years.

Tags: app, IHS Automotive, Mobile Applications, smartphones, Study

April 14, 2015 - Industry News

Consumers Trust Social Media, Peer Reviews More than Dealers

A recent study conducted by Crowdtap found that 80% of car buyers were more likely to turn to their social network for car-buying advice than a salesperson.

Tags: digital marketing, marketing, social media, Study

March 17, 2015 - Industry News

Cordray: CFPB Disagrees With Conclusions of CRA Study

CFPB Director Richard Cordray fielded questions about dealer compliance programs and a recent study calling out the bureau’s methods for determining discrimination during a semi-annual report to Congress earlier this month.

Tags: American Financial Services Association, BISG, CFPB, Congress, Consumer Financial Protection Bureau, Richard Cordray, Study

March 3, 2015 - Industry News

J.D. Power: In-Car Tech Impacting Dependability, Brand Loyalty

Bluetooth connectivity and voice recognition issues are the most frequently reported problems after three years of ownership, according to J.D. Power's 2015 U.S. Vehicle Dependability Study.

Tags: J.D. Power and Associates, Study, technology, Vehicle Dependability, vehicle quality

February 19, 2015 - Industry News

Five Trade Groups Urge CFPB to Fix ‘Flaws’ in Fair Lending Enforcement

A coalition of five trade groups representing the nation’s largest auto finance sources urged the CFPB to review and respond publicly to a study that questions its methodology for measuring disparities in dealer reserve.

Tags: BISG, CFPB, Consumer Financial Protection Bureau, discrimination, fair lending, lenders, NADA, reserve, Study

October 16, 2014 - Industry News

Women Less Confident in Car-Buying Process, KBB Reports

A new study from Kelley Blue Book found that 58% of men are confident in the car-buying arena, versus 38% of women. As a result, women take longer to make a purchase decision.

Tags: Car Shopping, Kelley Blue Book, Study

September 23, 2014 - Industry News

Dealers Failing to Capture Customers Over the Phone, Marchex Reports

When a potential customer calls a dealership, that call goes unanswered one out of six times, according to data from mobile advertising technology company Marchex Inc.

Tags: how to sell over the phone, new-vehicle leads, parts and service, Study

August 14, 2014 - Industry News

Quality and Space a Concern in Third-Row Seating, J.D. Power Reports

Automakers are responding to consumer demand for third-row seating, but in doing so are compromising quality and cargo space, according to a recent study by J.D. Power.

Tags: J.D. Power and Associates, manufacturers, Study

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