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DOWC, PassTime Partner to Boost F&I Sales

DOWC, PassTime Partner to Boost F&I Sales

Dealer Owned Warranty Company and PassTime have teamed up to give dealers additional opportunities to sell protection products for vehicles with PassTime GPS devices.

November 4, 2019

October Sales: SAAR Could Hit 17M for 5th Straight Year
Used Trucks Lost More Value Than Sedans in October
Maybee Named President of NextGear Capital

Maybee Named President of NextGear Capital

Ten-year auto finance veteran Scott Maybee has been named president of NextGear Capital after serving as general manager of Manheim Northstar Minnesota.

November 4, 2019

Average New Vehicle Prices Up Nearly 3% in October
Former GM Gets 4 Years, Owes $8M for Embezzlement

Former GM Gets 4 Years, Owes $8M for Embezzlement

Amir Bakhtiari will spend 54 months in federal prison and faces deportation to Iran after pleading guilty to embezzling $6 million by paying phony advertising invoices and unearned bonuses.

November 1, 2019

FCA, PSA Reach Tentative Merger Deal

FCA, PSA Reach Tentative Merger Deal

Fiat Chrysler and PSA Group have agreed to join forces to create the world’s No. 4 automaker in a $48 billion deal designed to save the factories billions in research and development costs.

October 31, 2019

Fed Triggers Third Interest Rate Cut of 2019

Fed Triggers Third Interest Rate Cut of 2019

The Federal Reserve has announced its third interest rate reduction since July, this time excluding language committing the central bank to action in support of economic expansion.

October 31, 2019

Report: FCA and PSA in Merger Talks

Report: FCA and PSA in Merger Talks

Bloomberg reports Fiat Chrysler and PSA Group, which includes the Peugeot, Opel, and Citroen brands, could announce a merger as soon as this week, a deal that would form a General Motors-sized factory.

October 30, 2019

25 Porsche Dealers Pilot Online Sales and F&I Platform

25 Porsche Dealers Pilot Online Sales and F&I Platform

A group of U.S. Porsche dealers is piloting the German factory’s first-ever online sales and financing option, designed to limit the customer’s dealership experience to final signatures and delivery.

October 29, 2019

Capps Officially Promoted to Manheim Sales Leader
TechCrunch: Fair Lays Off 40% of Payroll, Fires CFO

TechCrunch: Fair Lays Off 40% of Payroll, Fires CFO

TechCrunch reports Fair CFO Tyler Painter, brother of CEO Scott Painter, and 40% of the vehicle subscription service’s staff have been let go. The moves cast doubt on the disruptor’s viability in an increasingly inhospitable startup market.

October 28, 2019

NADA: Franchised Dealership Payrolls Up Nearly 2%
Axiom Debuts Suite of RV Products

Axiom Debuts Suite of RV Products

Axiom announced the launch of Revolution RV, a new suite of protection products specifically designed for the recreational vehicle market.

October 25, 2019

Weston to Fill New C-Suite Role at CNAN