March 17th, 2017
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P&A takes a deep dive into the trends, issues and developments the experts will be monitoring this year.
By: Tariq Kamal
Last year will be remembered for political and social unrest at home and abroad, including a highly contentious presidential election cycle that ended with a highly divisive outcome. After two years of 17 million-unit sales, steady job growth, and an unabashedly pro-business president in the White House, F&I product providers should be optimistic. But it ... Read More »
Independent agents are bound by the law of agency and should be aware of the difference between actual authority and apparent authority.
By: Jim Ganther
It was the summer of 1980 and I was working for a local construction company to earn money before I shipped off for my freshman year of college. At that time, the four Ganther siblings (I was No. 3 on the seniority list) shared use of one “kids’ car,” a red 1969 VW Beetle named ... Read More »
LAS VEGAS — Organizers of the seventh annual Agent Summit have announced that motivational speaker and former NBA player Walter Bond will deliver the opening keynote address on Tuesday, May 23. The four-day event begins Sunday, May 21, 2017, at Paris Las Vegas. Undrafted after what he describes as an “average” college basketball career at the University ... Read More »
LAS VEGAS — Organizers of the annual Agent Summit have announced that Dr. Kerry Johnson, MBA, PhD, has agreed to speak at the 2017 event, which will be held May 21–24 at Paris Las Vegas. Johnson will deliver the evening keynote address, sponsored by EasyCare, on Monday, May 22. “Agent Summit is about sharing best ... Read More »
NORCROSS, Ga. — EasyCare announced the launch of SelectCare, a new benefit designed to help retail and lease customers avoid the unexpected cost of replacing parts that may not be covered by their factory warranty, vehicle service contract, or prepaid maintenance plan. In addition to coverage for parts such as brake pads, the battery, and ... Read More »
SCHAUMBURG, Ill.– American Auto Guardian, Inc. (“AAGI”) has unveiled a new corporate brand, new logos for existing products, and an innovative new exclusionary vehicle service contract. AAGI’s 2017 Product Launch included a three-day event in Scottsdale, Arizona, which commemorated 20 years in business by introducing select agents to a bold new look for the company ... Read More »
ST. LOUIS – Wise F&I provides a full suite of voluntary protection products to the automotive finance and insurance market. Wise F&I products are now available through Darwin Automotive’s Prescriptive F&I Selling Software. This partnership provides automotive retailers utilizing Darwin access to all of Wise F&I products, including: GAPWise, WiseCARE, TIREWise, WiseTVP, THEFTWise and KEYWise. Darwin ... Read More »
DALLAS – EFG Companies, the innovator behind the award-winning Hyundai Assurance program, today announced the launch of the Drive Forever Worry Free Lifetime Wrap, an enhancement to the company’s market-differentiating limited powertrain protection. For more information, visit http://bit.ly/2lUkufY. The Drive Forever Lifetime Wrap is designed to help dealers close more deals at a higher gross with improved ... Read More »
CHICAGO – DRIVIN this week announced it has signed an agreement to license Chrome Data’s Automotive Description Service (ADS) to enhance its inventory-sourcing marketplace. Launched earlier this year, DRIVIN’s analytics platform is described as intelligent marketplace where used-car dealers can sell, buy and search used-vehicle inventory for their lot. With its connection to Chrome, the ... Read More »
ONTARIO, Calif. — The more than 1,000 credit unions on CU Direct’s lending platforms maintained their No. 2 spot on Experian’s auto finance leaderboard in January. And with plateauing demand for new vehicles expected to drive up pre-owned sales, CUDL officials said the market is ripe for credit unions to reap further market share gains. ... Read More »
WASHINGTON — Sage Automotive Group, which includes nine dealerships in the Los Angeles area, has agreed to pay more than $3.6 million to settle charges leveled by the Federal Trade Commission. Two of the group’s co-owners, brothers Joseph and Michael Schrage, as well as its holding and management companies, were named in the regulator’s announcement. The FTC ... Read More »
TIMONIUM, Md. — IT managed services provider Helion Automotive Technologies has issued proactive security recommendations for auto dealers who may be at risk of customer data breaches. The recommendations come on the heels of an incident that occurred last month and was widely reported in news outlets. In February, a disgruntled employee with a CRM vendor circulated ... Read More »
INDIANAPOLIS — Decluttering dealership websites and focusing on targeted messaging and “personalized” calls to action (CTA) can significantly increase click-through rates, lead data collection and, ultimately, dealership profits, according to consumer website data analyzed by PERQ. PERQ analysts released the information in conjunction with the launch of the company’s Auto Website Conversion Course, a series of online ... Read More »
CINCINNATI — Car lease credit applicants registered a 72.2% approval rate in February, a 33.3% increase from January’s 50% approval rate but flat with a year ago, according to Swapalease.com. The car lease marketplace noted that the last time approval rates reached that high was October 2015, when the lease credit approval rate was 75%. It ... Read More »
DAYTON, Ohio — The Reynolds and Reynolds Co. announced today that President Ron Lamb has stepped down, effective immediately. According to the company’s announcement, Lamb plans to pursue opportunities in private equity. The position will not be immediately filled, officials said. “Ron has made a significant contribution to Reynolds over the years,” said Reynolds Chairman ... Read More »
NEW YORK — automotiveMastermind has added Infiniti to its predictive analytics platform, opening access to Infiniti dealers nationwide. The technology was designed to give dealers key insights and valuable information on top sales prospects. “As Infiniti is seeking to drive business in the highly competitive luxury market, this is the perfect opportunity for us to help them ... Read More »
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