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Out of the Box

Out of the Box

Panelists and presenters at Industry Summit 2015 tackled online automotive retailing and what it means to move F&I out of the box and into the Digital Age.

December 9, 2015

Sales at Your Fingertips

Sales at Your Fingertips

The explosion in smartphone usage among car shoppers put phone leads ahead of Internet leads at the close of 2014, a trend reflected in the deluge of mobile-ready offerings lining the aisles at NADA 2015.

March 9, 2015

Penske Posts Most Profitable Year Behind Strong Q4 Performance

Penske Automotive Group realized a 16% increase in revenue and a 14% bump in adjusted income from continuing operations in 2014’s fourth quarter. The dealer group’s CEO also discussed its plan to pilot the NADA’s fair credit compliance program at four stores.

February 12, 2015

Industry Responds to New York Times Op-Ed on Subprime Auto Loans

NADA: Flat Fees Do Not Eliminate Discretion

A memo released by the NADA this week states that the CFPB’s proposed method for eliminating fair lending risk in the auto lending arena would do no such thing. Instead, dealers would still have discretion when it comes to selecting a finance source for their customers.

May 20, 2014

Penske Holds Off on Adopting NADA Compliance Program

Officials with Penske Automotive Group, which reported a record fourth quarter, said the operation will “wait and see” when it comes to adopting the NADA’s new fair lending compliance program.

February 18, 2014

Industry Groups Question Study on Discrimination in Auto Lending

The Center for Responsible Lending released findings last week that show negotiation does not help African American and Latino car buyers secure better interest rates on auto loans. Auto trade groups, however, were critical of the study’s findings, claiming it lacks data to support its claims.

January 30, 2014

NADA Issues Dealer Data Guidance

The NADA issued a memo to members last week that outlines regulatory requirements for protecting the consumer information they collect. The memo follows warnings about data access from the FTC and F&I and Showroom columnist Jim Ziegler.

September 6, 2013