Leveraging a partnership with digital marketing and media compliance provider Compliant, ComplyNet is launching a new tool that’s already being cheered by the Illinois Automobile Dealers Association. ComplyNet highlighted that AbleAuditor is an automated, intelligent discovery and audit tool that is designed to help dealers comply with various compliance obligations. For example, three key features […] [Read More]

Wholesale vehicle prices are easing, but dealers eager to secure used inventory more affordably should take this news with a grain of salt. In a news release around the company’s latest Manheim Used Vehicle Value Index, Cox Automotive senior manager of economic and industry insights Chris Frey put some context around the 2.7% month-over-month and […] [Read More]

The newest report from Kroll Bond Rating Agency (KBRA) showed not only weaker credit performance based on securitized prime and non-prime auto finance pools, but experts also pinpointed four ingredients that might keep the trend going in that direction. KBRA indicated May remittance reports showed weaker performance during the April collection period. Annualized net losses […] [Read More]

Cox Automotive sees multiple challenges automakers could face if they embark on significant strategies to generate revenue from subscription-type features, also known as Features on Demand (FoD). A trio of North Carolina dealers pointed out even more potential pitfalls for the fellow retailers as well as the OEM’s legal departments. Furthermore, another industry expert gave an example of how Features on Demand could create a quagmire for auto auctions and the wholesale industry, too ... [Read More]

Bluetooth and backup cameras used to be features reserved for high-line models. Now, Bluetooth is as prevalent as vehicle seating, and backup cameras have been a mandated safety feature for vehicles manufactured since 2018. With even more robust products inside the cabins now available, some automakers see the potential to generate significant revenue from subscription-type […] [Read More]

Mark Eddins is owner and general manager of Friendly Chevrolet, which claims on its website that’s it has been the No. 1 volume Chevy dealer in Dallas since 1956. How Eddins and his team work toward maintaining that stature comes through methods that might be contrarian to some retailers. Not only does Friendly Chevrolet have […] [Read More]

A new product alliance emerged this week involving 700Credit, a provider of credit reports, compliance solutions, soft pull products, and driver’s license authentication platforms, and WebBuy, an omnichannel digital retailing solution built to engage customers searching for vehicles on dealership’s websites. The companies explained the new alliance adds the 700Credit prequalification platform into the WebBuy […] [Read More]

F&I Sentinel made a pair of personnel moves this week, hiring a new vice president of operations and shifting its executive holding that position in an interim capacity into another position. Joining the tech-enabled service provider for compliant F&I product financing as vice president of operations is Nicole Aiello, who arrives at F&I Sentinel with […] [Read More]

It’s been a difficult week at TrueCar, which announced a CEO change and a workforce reduction impacting approximately 102 positions or 24% of the company’s headcount. According to a news release, Michael Darrow is departing TrueCar as CEO and vacating his position on the board. The company then appointed Jantoon Reigersman as president and chief […] [Read More]

The Federal Reserve board kept interest rates unchanged on Wednesday, halting a streak of 10 consecutive increases when policymakers had the opportunity. Cox Automotive chief economist Jonathan Smoke sees the Fed pushing rates higher again in July but doesn’t expect an official recession arriving this year. But the latest TransUnion Consumer Pulse study found that […] [Read More]