Lithia officials said the group is focused on increasing F&I performance, while officials with Sonic announced the launch of a new initiative that will have “guest advocates” handle transactions from start to finish. Asbury reported a per-copy average of $1,305 during the third quarter.
The hot-button issue for the NADA in 2014 will be the CFPB’s targeting of the indirect financing channel, incoming NADA Chairman Forrest McConnell tells F&I and Showroom .
The kbb.com redesign includes a pricing range for each vehicle make and model, as well as dealership microsites. Officials say customers are more likely to pay at or above fair purchase price for a vehicle once they view the Kelley Blue Book fair price range.
This month, Edmunds.com will launch a newly redesigned site centered on its Price Promise program. It will allow users to select a vehicle with a locked-in, haggle-free price.
A new study predicts that online media will dominate automotive advertising this year. It also indicates that the migration to digital advertising is still in the beginning stages.
TrueCar takes fire for new write-off policy that requires dealers to pay for every TrueCar user who walks through their door and buys a vehicle. The company’s chief executive said the new policy was added to provide clarity, not to punish loyal users of the service.
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.
Compact, mid-size and full-size pickups should offer a strong growth opportunity for auto lenders looking to expand their portfolios, according to data from Black Book Lender Solutions.
Until last month, the CFPB was doing a lot more aiming than shooting. But its first enforcement action against an auto finance source and its partner company proves the agency isn’t firing blanks.
With the CFPB’s Rick Hackett headlining the agenda, the NAF Association broke a decade-old attendance record for its 17th annual Non-Prime Auto Finance Conference.
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