Finance and Insurance

Mercedes' IT overhaul benefits F&I

10:30 am U.S. ET | Dec. 28, 2016

Mercedes-Benz Financial Services USA completed a $150 million project this year to replace its legacy contract management system with updated technology that will enable it to speed F&I growth and bring products and services to market more efficiently.... Read More »

HANNAH LUTZ

BLOG: Gaining insight, theme by theme

11:00 am U.S. ET | Dec. 21, 2016

One of my favorite parts of the F&I beat is choosing a theme to explore every quarter in our F&I Insight special sections for print and online.... Read More »

App adds used buyers to franchised dealer matches

11:00 am U.S. ET | Dec. 21, 2016

Starting today, AutoGravity, a smartphone app and web platform that connects new-vehicle buyers in California with franchised dealerships and finance offers, has extended its service to used-car buyers, the company told Automotive News.... Read More »

CarMax extends online financing program to all stores

11:00 am U.S. ET | Dec. 21, 2016

CarMax has extended its online financing, previously a pilot, to all of its stores. Separately, it said its finance arm's Tier 3 lending -- CarMax lingo for subprime -- declined in the third quarter, even as it raised its reserves against bad loans.... Read More »

F&I managers make good impression, survey finds

12:01 am U.S. ET | Dec. 21, 2016

F&I managers have long had a reputation as being disingenuous and pushy, maybe because of the stress many of them feel in the face of performance pressures, long hours and changing pay plans. But if F&I managers are stressed, they aren't showing it.... Read More »

'In your blood': Few F&I pros quit the business

12:01 am U.S. ET | Dec. 21, 2016

When F&I managers leave their dealerships, they likely are staying within the automotive industry, insiders say.... Read More »

Career goals: From quick stop to long haul

12:01 am U.S. ET | Dec. 21, 2016

What lands F&I managers in F&I? Is the role their end goal, a steppingstone to a higher title or happenstance? The answer in part may lie in the store where they work.... Read More »

RouteOne acquires MaximTrak in bid to boost digital retail business

9:15 am U.S. ET | Dec. 20, 2016

RouteOne has acquired F&I sales tool provider MaximTrak, effective as of now, RouteOne Holdings said Tuesday. Together, their goal is to position RouteOne for the future of digital retail by enabling customers to finance their vehicles and buy F&I products from wherever they're comfortable: in the finance office, on the showroom floor or online.... Read More »

EDITORIAL

Dealers must tackle F&I turnover

12:01 am U.S. ET | Dec. 19, 2016

Finance and insurance managers are leaving their jobs at an increasing rate and for a variety of reasons. But a significant cause of this disturbing trend is that the nature of the job has changed so much in recent years.... Read More »

Equifax expands access to income, employment database

6:00 am U.S. ET | Dec. 15, 2016

Dealers can now verify customers' income and employment through dealer service finance platforms they may already be using in their stores, Equifax said Dec. 15.... Read More »

Auto delinquencies predicted to rise

11:30 am U.S. ET | Dec. 14, 2016

Auto loan delinquency rates will jump in 2017 as a result of higher interest rates and more subprime borrowers, TransUnion predicts. However, the rise is a natural effect of more subprime lending and is not a cause for concern, the company said.... Read More »

HANNAH LUTZ

BLOG: FCA, Hyundai promote online sales, offline financing

11:30 am U.S. ET | Dec. 14, 2016

Last month, Fiat Chrysler Automobiles and Hyundai Motor America said they would offer an online car-buying experience. But in both cases, customers have to arrange financing at the dealership.... Read More »

Leasing satisfaction differs for luxury and mass-market customers

11:00 am U.S. ET | Dec. 14, 2016

With leasing accounting for nearly a third of new-vehicle transactions, lease-end customer satisfaction is becoming more important. But the keys to satisfaction differ for luxury and mass-market customers, J.D. Power says, and dealers and lenders should learn the difference.... Read More »

Front-loading F&I cuts transaction time

11:00 am U.S. ET | Dec. 14, 2016

Dealerships' transaction times are improving, but lengthy buying processes are still a pain point for stores, a survey by eLend Solutions shows. To gain efficiency, the company says, dealerships should move F&I to the front of the sales process.... Read More »

Aggressive credit unions move up in the auto financing world

12:01 am U.S. ET | Dec. 12, 2016

Credit unions on CU Direct's auto lending network as a group have become the second largest auto financing source, knocking Ally Financial to the No. 3 spot, CU Direct said.... Read More »

Ford Credit wants a role in the sharing economy

12:01 am U.S. ET | Dec. 12, 2016

Ford Credit's shared-lease pilot program in Austin, Texas, has closed, CEO Joy Falotico told Automotive News. She said the captive will apply what it has learned from the pilot as it develops more experiments tailored to the so-called sharing economy.... Read More »

Mercedes' IT overhaul benefits F&I

12:01 am U.S. ET | Dec. 12, 2016

Mercedes-Benz Financial Services USA completed a $150 million project this year to replace its legacy contract management system with updated technology that will enable it to speed F&I growth and bring products and services to market more efficiently.... Read More »

Credit repair specialist helps customers and her store

12:01 am U.S. ET | Dec. 12, 2016

Every couple of months, Jennifer Oribello spends time mining the docket of the U.S. Bankruptcy Court in Detroit and Googling contact information for bankruptcy attorneys. She sends letters to gauge whether credit-blemished folks on the docket or among the attorneys' clients would be interested in buying and financing at her dealership.... Read More »

Building up F&I offerings and brand loyalty

12:01 am U.S. ET | Dec. 12, 2016

EasyCare believes it has a tool that will help dealerships build loyalty for their particular stores, not just the brands they're selling. It's called the Custom Dealer App, which enables dealerships to maintain relationships with customers long after they purchase a vehicle.... Read More »

Early connections boost lease satisfaction

12:01 am U.S. ET | Dec. 12, 2016

Less than half the time, dealers and lenders reconnect with lease customers before the end of the lease, a new study by J.D. Power found. The study measured satisfaction of customers who are within six months of the end of their lease.... Read More »

Get personal to get buyers to protect tech

12:01 am U.S. ET | Dec. 12, 2016

When trying to convince customers of the importance of having an extended service contract to protect their tech-laden new vehicle, do your F&I managers spell out the intricacies of Bluetooth or stability control? If so, tell them to take a step back and zero in on the customers' interests, experts say.... Read More »

After 40 years, Ford F&I keeps evolving, execs say

12:01 am U.S. ET | Dec. 12, 2016

Forty years ago last month, an evolving auto industry drove Ford and Lincoln to become pioneers among their peers in offering F&I products. Looking to the future, executives say, the brands' F&I lineups are still poised to transform with the industry.... Read More »

FEEL THE CHURN

More F&I managers are quitting. Are expectations for output, speed and compliance to blame?

12:01 am U.S. ET | Dec. 12, 2016

F&I managers tackle a multitude of challenges daily, and the stress could be taking a toll. Thirty-eight percent of F&I managers left their jobs last year, up 1 percentage point from 2014. And the average F&I manager tenure was a mere 3.1 years, according to the 2016 Dealership Workforce Study from the National Automobile Dealers Association.... Read More »

Dealers revamp F&I managers' hours, pay

12:01 am U.S. ET | Dec. 12, 2016

Long hours and fluctuating compensation can cause F&I managers significant stress, leading to job dissatisfaction and even burnout. Some dealers are implementing flexible schedules for better work-life balance and comprehensive pay plans that entail not only commissions but also a base salary.... Read More »

F&I managers make good impression, survey finds

12:01 am U.S. ET | Dec. 12, 2016

F&I managers have long had a reputation as being disingenuous and pushy, maybe because of the stress many of them feel in the face of performance pressures, long hours and changing pay plans. But if F&I managers are stressed, they aren't showing it.... Read More »

 
VW seeks 'flower-power' revival with greener Microbus

Christiaan Hetzner
12:01 am U.S. ET | Jan. 18 2017

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It will take another five years but fans of the classic VW Microbus can now finally look forward to ...
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Did a leading VW exec perfect defeat device rather than stop it?

Christiaan Hetzner
8:56 am U.S. ET | Jan. 13 2017

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While he didn't introduce the emissions-test-cheating defeat device into VW's 2. ...
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Conti powertrain guru makes peace with 'different world'

Douglas A. Bolduc
12:01 am U.S. ET | Jan. 13 2017

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Continental powertrain chief Jose Avila says it has taken some time to make peace with the fast move the industry and the world are making toward cars that are powered by... ...
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The beautiful lives of Bugatti, Bentley buyers

Luca Ciferri
12:01 am U.S. ET | Jan. 12 2017

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Bentley and Bugatti buyers are rich, but there is a pretty significant wealth gap between the two, a ...
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The most important vehicles at the Detroit auto show

Richard Truett
12:01 am U.S. ET | Jan. 11 2017

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The 2017 edition of the Detroit auto show won't go into the books for blockbuster introductions and ...
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In taking the wraps off super-fast EV, Faraday redefines car unveiling


12:01 am U.S. ET | Jan. 10 2017

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Faraday has struggled to find enough funding to meet its big ambitions but the Chinese start up cert ...
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Hyundai's self-driving Ioniq calmed my safety fears

Luca Ciferri
5:57 am U.S. ET | Jan. 5 2017

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I’m a big fan of autonomous driving and am eager to buy a fully self-driving car a ...
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London's new taxi blends tradition and tech


12:01 am U.S. ET | Jan. 4 2017

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The fifth generation of London's iconic Black Cab that will debut later this year will have 21st cen ...
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VW's switch to English as its company language is a key reform

Christiaan Hetzner
5:55 am U.S. ET | Dec. 15 2016

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In the future, VW Group will conduct its business in English. The change should improve the German a ...
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Land Rover sets sail on epic quest

Luca Ciferri
12:01 am U.S. ET | Dec. 9 2016

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Land Rover is teaming up with the UK's most successful sailor and with a former McLaren Formula One ...
 Read More ›

Newsletters & Alerts
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Europe car sales rise nearly 7% to 9-year high in 2016
European car sales rose 6.5 percent to 15.1 million in 2016 -- a nine-year high -- as demand was dri ...
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Russia sales slump may end this year after 11% fall in 2016
New-car sales in Russia fell 11 percent to 1.42 million last year but automakers predict the country ...
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Turkish sales forecast to drop 10% this year after record 2016
Turkish automotive sales are expected to shrink slightly more than 10 percent this year as lira depreciation hits demand. Sales rose 1. ...
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UK sales forecast to fall 5% this year after record 2016
UK sales hit a record of 2.7 million in 2016 despite fears that the country's Brexit vote could hit ...
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German sales jump nearly 4% in Dec. as Toyota leads gains
Registrations in Germany increased by nearly 4 percent in December as Toyota brand led gains among v ...
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Spanish sales grow for third year with 9% rise in December
The Spanish car market had its third consecutive year of double-digit growth in 2016 after sales ros ...
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Italy sales rise 13% in December
Italian new-car sales increased 13 percent in December, giving the market its second consecutive yea ...
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French auto market ends second rebound year with December gain
French car sales rose nearly 6 percent percent in December, closing a second consecutive year of str ...
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VW Golf, other volume compacts lose share to premium rivals, SUVs
The VW Golf and Ford Focus compacts are being squeezed as premium competitors such as the Mercedes A ...
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Europe's large premium SUV segment heads for record year
Europe's large premium SUV segment is on track for a record year, helped by rising sales of models s ...
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Audi, Mercedes push key segment toward milestone
Audi, BMW and Mercedes-Benz are largely responsible for the growing success of the compact premium s ...
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Audi, BMW, Jaguar give midsize premium segment a lift
Europe's midsize premium segment grew at a near double-digit pace in the first half on new models fr ...
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Skoda, Renault, Toyota benefit from higher sales of midsize cars in Europe
Europe's midsize segment is on track for a second year of rising sales as new models from Skoda, Ren ...
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Minicars get boost from Italy rebound
European minicar sales – especially at Fiat Chrysler -- are getting a lift from the continuing ...
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Uber hires Google veteran Singhal to aid self-driving engineering
Ride-hailing company Uber said it hired the man behind Google search to work closely with CEO Travis ...
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Former Nissan, Hyundai exec Rushforth joins Lookers
Former Nissan global sales chief and Hyundai Europe chief operating officer Allan Rushforth has join ...
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Fiat Chrysler names operating chiefs for China, Asia Pacific
Fiat Chrysler named Daphne Zheng as COO of China and Paul Alcala as the operating chief of Asia Paci ...
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Tesla's Autopilot head said to depart as Apple engineer hired
Sterling Anderson, Tesla's director of autopilot programs, has left the maker of electric cars, acco ...
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Pininfarina prepares to reboot with former PSA designer
Pininfarina's new design chief, Carlo Bonzanigo, will work on an array of automotive and industrial ...
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Porsche race car engineer Hitzinger joins Apple, report says
Apple poached the technical director of Porsche's race car program earlier this year, Manager Magazin reported, hiring a project manager who helped engineer the sports. ...
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Renault names new EV chief as it prepares for electric-car surge
Renault is placing an experienced troubleshooter, Gilles Normand, in charge of its electric-vehicle ...
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Varroc Lighting appoints former Magneti Marelli executive as CEO
Varroc Lighting Systems has named Stephane Vedie as its CEO, effective immediately. He is the former ...
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Aston Martin recruits former Ferrari, Maserati exec as chief technical officer
Aston Martin has named Maximilian Szwaj, a former Ferrari and Maserati executive, as its new chief t ...
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Volvo picks fast-rising exec to lead r&d
Volvo named Henrik Green its new head of r&d, giving the Swedish executive his fourth promotion in t ...
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Smart improves ForTwo, ForFour EV variants with Renault tech
Smart has improved its EV technology for the battery-powered versions of its ForTwo and ForFour with ...
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Audi makes Q5 a tougher rival for Mercedes GLC, Porsche Macan
Audi has developed the second-generation Q5 to have the driving dynamics of the Porsche Macan and a ...
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Audi makes Q5 a tougher rival for Mercedes GLC, Porsche Macan
Audi has developed the second-generation Q5 to have the driving dynamics of the Porsche Macan and a ...
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Peugeot moves upscale with new 3008 SUV
The new Peugeot 3008 has been turned into an SUV from a minivan and has been given significant upgra ...
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Citroen aims C3 at Facebook generation
Citroen is aiming its new C3 firmly at younger, tech-savvy buyers who will appreciate features such ...
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Porsche enhances Panamera's 911-like looks
Porsche is hoping its second-generation Panamera will lure more European customers with the sedan's ...
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Renault keeps the Scenic family friendly
Renault has kept the Scenic’s minivan design in a move that goes against the industry trend of ...
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Kia Niro targets 2 sweet spots
The Kia Niro targets two sweet spots in the market: booming demand for high-riding SUV-styled models ...
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S90, V90 are key to Volvo's continued revival
Volvo expects the S90 and V90 will be big steps in the automaker's revival but a challenge looms. ...
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Audi Q2 targets affluent downsizers
The Audi Q2 is the first subcompact SUV/crossover from a German luxury brand. ...
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Suppliers to the new Mercedes C-class Coupe
Assembly of the second-generation Mercedes-Benz C-class Coupe began in Bremen, Germany, in October 2 ...
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Suppliers to the new Opel/Vauxhall Astra
Assembly of the latest Opel/Vauxhall Astra began in Gliwice, Poland, in August 2015 and then in Elle ...
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Suppliers to the new Jaguar F-Pace
Assembly of Jaguar's all-new F-Pace began at parent Jaguar Land Rover's facility at Solihull, Englan ...
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Suppliers to the new Fiat Tipo
Assembly of the new Fiat Tipo began in September 2015 at parent Fiat Chrysler Automobiles' joint ven ...
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Suppliers to the new Ferrari 488
Assembly of the Ferrari 488 began in June 2015 at the supercar maker's factory in Maranello, Italy. ...
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