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Nissan gets new U.S. sales boss; Meunier takes Infiniti role

Nissan has promoted former Saturn executive Dan Mohnke to lead sales and marketing for the brand in the United States; he succeeds Christian Meunier, who becomes a global vice president for Infiniti.

Sonic issues earnings warning because of hurricanes

Sonic Automotive lowered its estimated third-quarter results because of devastating storm damage, but kept its full-year forecast unchanged.


Tesla's former battery director joins farming startup Plenty

Tesla's former director of battery technology has joined Plenty to lead the vertical farming startup's plan to build indoor growing rooms around the world.

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Sent early Monday mornings, this newsletter contains a summary of key stories from our weekly edition.

3 key words help customers commit

When selling F&I products, say to customers, “This is your ...” service contract, GAP policy, etc., suggested G.P. Anderson, finance manager at Thielen Motors in Park Rapids, Minn., at the F&I Industry Summit in Texas last month. Doing so makes customers feel a sense of ownership and attachment, he said.

How Gen Z will buy F&I

Generation Zers are nothing like their millennial predecessors, experts say. As customers, they will be more technologically familiar and transparency-conscious. As employees, they will be competitive more than collaborative.

Used-vehicle leasing to see 'big lift,' MUSA says

MUSA Auto Finance has its sights set on a heavy leasing market, especially used-vehicle leasing. It just launched automated decisioning for leases submitted through Dealertrack, RouteOne and its own online portal. Richard Frunzi, the company's president, spoke last month with Staff Reporter Hannah Lutz.

Credit unions led growth in Q2 lending

Credit unions led U.S. auto lending growth in the second quarter as other lender types pulled back, CU Direct says in its latest State of the Credit Union Auto Lending Market report.

'17 spiffs expected to get sweeter as vehicles jam lots

Automakers sweetened incentives last month to sell down a glut of 2017 models on dealership lots and make room for 2018 cars and light trucks. But the higher spiffs won't end there, Edmunds says. Incentives are expected to continue rising through year end.

Good conversations beget value-based presentations

Find out what the customer is excited about to build your F&I product presentation, John Vecchioni, instructor at American Financial & Automotive Services’ F&I University, said at the Industry Summit in Grapevine, Texas, last month. “Discover a need and build value.”

Finance industry sues to overturn CFPB arbitration rule

A coalition of corporate lobbying groups, led by the U.S. Chamber of Commerce, sued the Consumer Financial Protection Bureau to overturn a rule that makes it easier for aggrieved customers to file lawsuits against financial firms.

Take website shoppers beyond vehicle selection

Put the entire car-shopping process online, not just vehicle selection, to provide information on F&I products, advises F&I training specialist Ron Reahard of Reahard & Associates. Information on the dealership’s site must be useful and accessible in media customers are comfortable with, especially images and videos, he said.

Hyundai Capital America joins with AutoGravity

Consumers looking to buy a Hyundai, Kia or Genesis model now can shop for and finance their vehicles through Hyundai Capital America using AutoGravity's mobile app and web platform. The partnership launched this month, beginning in California.

Unconcerned about credit

A new survey found franchised dealers don't worry much about credit availability for themselves or their customers, in contrast to their independent-dealer rivals.

Big Brother is watching, but should he?

As awareness of fraud and identity theft intensifies, will dealerships latch on to video recording as a way to deter misbehavior in the F&I office? Transaction videos have a downside, experts say.

A con artist on your store's staff? It happens

Unsavory practices in dealership F&I departments still happen. But training, check-and-balance systems, better pay plans and just being more vigilant can discourage rogue behavior, industry insiders say.

Top-notch F&I managers are customer experts

Get to know your customers to sell them products they will benefit from, G.P. Anderson, finance manager at Thielen Motors in Park Rapids, Minn., said this month at the F&I Industry Summit in Texas. “Average F&I managers are experts at what they're selling," he said. "Great F&I managers are experts on who they're selling to.”

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