Federal Trade Commission senior attorney Lesley Fair compiled a list of seven recommendations for small businesses — which could certainly include dealerships — in an effort to overcome the challenges created by the coronavirus pandemic. “For small businesses, there’s never been a time when ‘business as usual’ has been so unusual,” Fair wrote on Wednesday […] [Read More]

In its effort to support dealerships and consumers during COVID-19, automotive marketplace CarGurus is implementing new digital safety and convenience features such as allowing shoppers to schedule a virtual vehicle walkaround with a dealership. CarGurus subscribing dealers in the United States, U.K., and Canada now have new methods to inform in-market shoppers about how they […] [Read More]

Auto ad tech company Dealers United is developing tools and resources to guide auto dealers during the COVID-19 crisis, including “Facebook Ad Playbooks” and templates for service and sales strategies for facing crisis challenges. Dealers United, a Facebook and Instagram advertising service for the auto industry, says dealerships and local businesses should have messaging and […] [Read More]

With millions of individuals losing their jobs during the coronavirus pandemic, auto-finance companies and buy-here, pay-here dealers with related finance companies often have been working with their customers on deferments and other payment modifications, triggering a host of questions about credit reporting. To help, Equifax and the National Independent Automobile Dealers Association are hosting a free […] [Read More]

The COVID-19 pandemic has halted two decades of global growth and raised several questions about how economies will function in the future. Experts are assessing whether the international upheaval caused by the pandemic will have a long-lasting impact on trade and finance, including how businesses will adapt to a changing environment. Where will future growth […] [Read More]

Vehicle pricing and analytics company Black Book is integrating its values into a new product to help dealers digitally connect with consumers. With the new tool from TEXTiUM called Email Instant Trade Values. agencies can connect any email campaign with the ability to offer each email recipient their vehicle’s Black Book trade value. The value […] [Read More]

For the third time in the past year, Westlake Portfolio Management (WPM) — a division of Westlake Financial Services — is absorbing the accounts of a finance company that has departed the business during the span of the coronavirus pandemic. On Tuesday, Westlake announced it was selected by Coastal Credit to be the third-party servicer […] [Read More]

The American Recovery Association is communicating with state and federal officials regarding potential policy “that if passed would devastate our businesses over the coming months in ways that most would not be able to recover from,” according to a recent message from the organization. ARA explained that federal proposals could be included in the next […] [Read More]

"The way we are streamlining the process, the way that consumers are shopping and that we are training to shop now, really is going to be the gold standard moving forward when we get out of this, hopefully as quickly as possible." Tim Cox of CarNow heard this from an upstate New York car dealer […] [Read More]

Based on auto industry analyses, a rough March for used-vehicle sales appears to have spilled over into April, and as PureCars says in its latest COVID-19 report, dealers are “facing obvious headwinds” in pre-owned. But, some silver linings: the dive in used- and new-car sales appear to have hit its trough, according to Cox Automotive. And […] [Read More]