P&A Online
March 17, 2011
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Featured Articles
If you haven't yet read the articles in the last P&A eMagazine, don't worry! The titles below will take you to all the latest topics.
Recent Developments In The Law Affecting Vehicle Service Contracts
Drive Service Retention and Be Your Dealer’s Hero
Considerations When Designing New Products
Where are we headed in 2011?
Top Ten (or Eleven) Stories of 2010!
Successful Third-Party Administrators View Underwriters as Partners
Drive Service Retention and Be Your Dealer’s Hero
P&A Industry News
DealerTrack Credit Application Network Reaches 1,000 Lender Milestone
LAKE SUCCESS – DealerTrack Holdings, Inc. today announced that the number of active lenders connected to its DealerTrack credit application network has reached 1,000 U.S. lenders. The DealerTrack credit application network allows dealers to electronically submit credit application data to the industry’s largest and most diverse network of banks, independent finance companies, captive finance companies, ... Read More »
CNA National Selects Brian Pendergast For Newly Created Position Of Chief Information Officer
SCOTTSDALE – CNA National is pleased to announce that Brian Pendergast has joined the firm’s senior management team effective March 14 as chief information officer, a newly created position. “CNA National is making a significant investment in developing resources for our continued growth, and technology is a major component of that investment,” explains Joe Becker, ... Read More »
Bill to Fix California GAP Problem Moving Quickly
Legislation aimed at amending a California law that barred a key GAP feature is moving quickly through the state Legislature, raising the prospects of the issue being resolved by June. The bill (AB 125), spearheaded by OwnerGUARD Corp., was passed by the state Assembly by a 69-0 vote. The San Diego-based F&I product provider, working ... Read More »
IAS, Universal Lenders Partner to Provide Aftermarket Financing
AUSTIN – IAS, a provider of F&I aftermarket programs, has entered into an agreement with Universal Lenders LLC and can now offer its nationwide network of agents and dealers a financing alternative at the aftermarket point of sale. The agreement between IAS and Universal Lenders LLC will provide IAS agents and dealerships a financing alternative ... Read More »
Automotive Industry News
Ford’s Lincoln Tops J.D. Power Dependability Survey
DETROIT – Ford Motor Co.’s Lincoln brand ranked highest in an annual vehicle-dependability survey, the first time in four years an American nameplate has taken the top spot. The survey, which measures problems experienced by original owners of 2008 model vehicles, found Lincoln leading the pack with the least amount of troubles, according to J.D. ... Read More »
AutoNation, Asbury Paying Pre-Recession Prices For New Dealers
Auto dealership chains are pursuing new stores and paying pre-recession multiples on acquisitions to expand their networks as the U.S. auto market recovers. AutoNation Inc., Penske Automotive Group Inc. and Group 1 Automotive Inc. are paying 3 to 5 times earnings before interest and taxes for acquisitions after failing stores were sold during the recession ... Read More »
Honda to Recall 18,000 ’11 Civics
Honda Motor Co. said it is recalling more than 18,000 2011 models over concerns the fuel tank could leak in a rollover crash and has halted the sales of some models. Honda said the recall of 18,056 vehicles is to inspect and replace a part that could fail to prevent fuel from leaking out of ... Read More »
Renault’s Swiss Connection
PARIS – A Renault SA security agent under investigation for his role in an industrial-espionage case has money in a Swiss bank account, but he put it there to pay a company informant, not for his personal use, his lawyer said Wednesday. Dominique Gevrey has been held in detention since the weekend, as prosecutors try ... Read More »
Halts on Japanese Auto Output Are Extended
TOKYO – Toyota Motor Corp. and other major Japanese auto makers extended some halts on domestic assembly into next week, but other auto factories began starting back up after last week’s earthquake. The global auto industry is monitoring what is happening in Japan since any major disruption in part shipments can shut down plants elsewhere. ... Read More »
Panel Says Jury Out On Auto Bailout
WASHINGTON – The panel overseeing the $700 billion fund that was used to rescue Wall Street financial institutions and the U.S. auto industry says the jury is still out on whether the auto industry was salvaged for the long-term by the taxpayer-funded bailout, reported The Detroit News. In a final report released today, the bipartisan ... Read More »
Volkswagen, GM Lead First Europe Car Sales Gain In 11 Months As Fiat Falls
Volkswagen AG and General Motors’ Opel brand led the first increase in European car sales in 11 months as new models attracted buyers in markets such as Germany, France and Poland. Registrations in the region rose 1.4 percent in February from a year earlier to 1.01 million vehicles, the European Automobile Manufacturers’ Association said today ... Read More »
March Opens With Better Floor Traffic, Strong Closing Ratio, Reports CNW
An increase in floor traffic and a strong closing ratio indicate that new-vehicle sales in March will improve 11 percent from the year-ago period, according to CNW’s Retail Automotive Summary. The recent earthquake and tsunami disaster in Japan, however, is expected to impact the tight supply chain of Toyota, Nissan and Honda, reported F&I and ... Read More »
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