CNA National announced this week that claims specialist Marty Bourgeois was selected as the recipient of the 2016 CNA Chairman’s Award. Bourgeois, according to the company, was selected for demonstrating all five of the company's “winning behaviors,” which include accountability, collaboration, continuous learning, external focus, and innovation.
Wells Fargo Dealer Services has agreed to pay more than $4.1 million to settle charges that it violated the Servicemembers Civil Relief Act (SCRA) when it repossessed 413 vehicles owned by protected servicemembers without obtaining a court order, the U.S. Department of Justice (DOJ) announced on Friday.
The Federal Trade Commission today charged nine Los Angeles-area dealerships and their owners with a wide range of deceptive, and unfair sales and financing practices, including payment packing and using "yo-yo" finanicng tactics.
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.
Aside from its customer count, the provider of a cloud-based system designed to put dealers in control of their data announced it now has 450 vendor partners.
Alpha Claims Tracker allows vehicle owners, dealers, and even agents to track claims in real time on a mobile device. The F&I product provider said the new offering is designed to improve the customer experience.
Slowing demand for new vehicles points to auto finance sources having to contend with increased compeittion for consumer loans. That was the conclusion of Equifax's Nation Consumer Credit Trends report for August, which showed that auto originations for the first six months of year grew 3.5% compared to a year ago.
Gary Fields, who joined the KAR group in 2003, was promoted to vice president of KAR IT Shares Services. He will be responsible for overseeing the coordination of any enterprise-wide technology solution implementations, as well as identifying and researching relevant emerging technologies.
The car segment retained its value well last week, with the wholesale value of 2008-2014 model-year cars decreasing by 0.68% last week. This was in line with the 0.67% decline the segment has experienced over the last six weeks, according to Black Book’s Market Insights report.
Manheim has nearly tripled the number of auctions offering enhanced vehicle imaging (EVI), expanding from 25 to 74 locations throughout North America, the company said this week
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