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GAP Suffers Another Setback

The editor reveals the truth behind an NPR report critical of the industry’s efforts to undo the Military Lending Act guidance that put the brakes on GAP sales.

August 30, 2018

CNCDA: Calif. New-Vehicle Registrations Fall for the Fifth Straight Quarter

CNCDA: Calif. New-Vehicle Registrations Fall for the Fifth Straight Quarter

Despite the decline, the trade group expects the California market will end the year with around 2 million new-vehicle registrations. That would be a slight decline from the 2.05 million registrations the market recorded in 2017, providing further proof the market has plateaued after several years of big increases.

August 28, 2018

Calif. Board: GM Violated State Law in Attempting to Cancel Dealer's Franchise
Senate Committee Narrowly Confirms Trump's Pick to Head BCFP
TFS President and CEO Mike Groff to Retire; Successor Named

TFS President and CEO Mike Groff to Retire; Successor Named

Mike Groff was employee No. 7 when he joined a fledgling Toyota Motor Credit Corp in 1983. The captive’s president and CEO will retire on Aug. 31. Replacing him is Mark Templin, who has served as chairman of Toyota Motor Credit Corp.’s board of directors since May 2016.

August 7, 2018

Car Buyers Need F&I

Current market trends are playing right into the F&I product pitch, but they also reveal trouble ahead for the automotive retail industry at large.

August 6, 2018

FTC Charges Arizona Group With Falsifying Incomes on Consumer Credit Apps
AutoGravity Names New CEO, CTO

AutoGravity Names New CEO, CTO

Alex Mallman, who most recently served as president and CEO of Mercedes-Benz Auto Finance China, replaces AutoGravity’s co-founder and CEO Andy Hinrichs, who left in May, according to the Orange County Business Journal.

July 17, 2018

CDK Global to Acquire ELEAD1ONE

The deal was first reported on Sunday by The Banks Report, which described the pending acquisition as checking off 'several boxes for CDK while filling a big product hole — a viable integrated CRM platform with significant market share.'

July 16, 2018

FTC, 12 Partner Agencies Conduct Used Car Rule Compliance Sweep
CFPB Official Who Sued Trump Resigns, Drops Suit

CFPB Official Who Sued Trump Resigns, Drops Suit

The CFPB official who went to court last year after Trump appointed Mick Mulvaney as acting director announced on Friday she is leaving the embattled regulator. In a tweet, her attorney said the CFPB official is also dropping her legal fight to be the regulator's acting director.

July 9, 2018

Protecting F&I’s Future

The editor responds to a reader’s question about whether F&I managers are being replaced by iPads and digital retailing tools.

July 3, 2018

LMC/J.D. Power: First-Half Retail Sales Weakest in Four Years

Retail sales for the first half of 2018 are expected to be the weakest since 2014, but record transaction prices have consumers on pace to spend nearly $5 billion more on new-vehicle purchases during the period compared to a year ago.

June 28, 2018

Updated: Roadster Secures New Funding, Announces New Ties With Lithia, Lexus
Fed Reserve Approves Second Rate Hike of 2018

Fed Reserve Approves Second Rate Hike of 2018

For the seventh time since 2015, the Federal Reserve increased the Federal Funds Rate a quarter percentage. Cox Automotive economists say higher interest rates and tighter credit have already led to softening retail demand, noting that further rate increases will impact all corners of the car business.

June 14, 2018