Finance and Insurance

In digital age, paper contracts endure

12:01 am U.S. ET | Oct. 23, 2017

Going digital can be worrisome for dealership employees who have been handling deals the same way for decades.... Read More »

Getting employees on board is the hardest part

12:01 am U.S. ET | Oct. 23, 2017

E-contracting doesn't require much training, but getting employees on board can be a sizable hurdle.... Read More »

LETTER TO THE EDITOR

Will products be J.D. Power in name only?

12:01 am U.S. ET | Oct. 23, 2017

I would be very interested to see if these finance and insurance offerings are just branded J.D. Power, similar to the General Motors products, or if they are indeed J.D. Power's own products.... Read More »

Wells Fargo faulted by U.S. regulator for auto insurance abuses, report says

1:43 pm U.S. ET | Oct. 20, 2017

Wells Fargo wrongly pushed auto insurance on customers who did not need it and took too long to halt the abuse, the New York Times reported, citing a confidential report.... Read More »

Consumer group wants set pricing for F&I products

11:23 am U.S. ET | Oct. 18, 2017

A consumer advocacy group wants the Consumer Financial Protection Bureau and other agencies to regulate pricing of F&I products, such as extended service contracts, based in part on data that allegedly show dealerships have charged Hispanic customers higher prices.... Read More »

Wells Fargo, Chase clip auto originations

11:18 am U.S. ET | Oct. 18, 2017

Third-quarter auto loan and lease originations dropped 47 percent at Wells Fargo and 5 percent at Chase as the lenders continued to tighten their credit standards.... Read More »

J.D. Power counts on name recognition for success of new F&I products

11:22 am U.S. ET | Oct. 18, 2017

J.D. Power says brand recognition will make its new suite of F&I products stand out, despite a crowded market. The company launched the suite last month at 10 dealerships in the Southeast.... Read More »

HANNAH LUTZ

BLOG: What's in a name? A lot

11:24 am U.S. ET | Oct. 18, 2017

Brand recognition goes a long way -- even with F&I products.... Read More »

HANNAH LUTZ

BLOG: New Washington, new dialogue for industry, CFPB

11:18 am U.S. ET | Oct. 11, 2017

One clear benefit for retailers and lenders under the Trump administration? A better relationship between industry associations and the CFPB.... Read More »

Nonprime financing survey finds more risk, less profit

11:22 am U.S. ET | Oct. 11, 2017

Higher risk and lower returns in subprime auto lending in 2016 set the stage for a continuing pullback in subprime volume in 2017, according to the 2017 Non-Prime Automotive Financing Survey.
... Read More »

F&I profits exceed vehicle profits as dealers' aftermarket acumen grows

11:20 am U.S. ET | Oct. 11, 2017

Strip away manufacturers' dealer incentives, and F&I gross profit on new vehicles is exceeding vehicle gross profit, according to the latest benchmark data from DealerStrong. That holds true for transactions in all credit tiers as dealerships sell more F&I products.... Read More »

Hyundai retail program aims for faster transactions, more transparency

1:30 pm U.S. ET | Oct. 10, 2017

Hyundai plans to roll out a new U.S. retail program by the beginning of 2018 that is aimed at reducing new-vehicle transaction time and increasing price transparency.... Read More »

'DIGITAL NATIVES'

How Gen Z will buy F&I

12:01 am U.S. ET | Oct. 9, 2017

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.... Read More »

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

12:01 am U.S. ET | Oct. 9, 2017

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.... Read More »

High-flying Hecker lands at halfway house

12:01 am U.S. ET | Oct. 9, 2017

Denny Hecker, the Minnesota megadealer and leasing giant who defrauded Chrysler Financial out of millions, is out of prison.
... Read More »

'17 spiffs expected to get sweeter as vehicles jam lots

11:27 am U.S. ET | Oct. 4, 2017

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.... Read More »

HANNAH LUTZ

BLOG: How lenders can help speed the F&I process

12:06 pm U.S. ET | Oct. 4, 2017

Speeding up the F&I process has been a goal of F&I managers for the past few years, and lenders can help with automated decisions.... Read More »

Credit unions led growth in Q2 lending

11:50 am U.S. ET | Oct. 4, 2017

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.... Read More »

Santander names new president of Chrysler Capital

4:55 pm U.S. ET | Oct. 2, 2017

Richard Morrin, COO for Santander Consumer USA, has been named president of Chrysler Capital and auto relationships, effective immediately.... Read More »

Finance industry sues to overturn CFPB arbitration rule

11:33 pm U.S. ET | Sept. 29, 2017

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.... Read More »

Follow the money to find in-house, external fraud

11:15 am U.S. ET | Sept. 27, 2017

There's no catchall method to prevent finance fraud, but there are steps dealers can take to prevent fraud on the part of staff members and customers both.... Read More »

CarMax lowers loan-loss provisions

11:07 am U.S. ET | Sept. 27, 2017

CarMax lowered its provision for loan losses 7.8 percent in the quarter that ended Aug. 31, after raising that provision a year earlier.... Read More »

Structure pay plans to satisfy younger staffers, buyers

11:15 am U.S. ET | Sept. 27, 2017

Some dealers are so involved in crafting ways to entice younger vehicle buyers, they forget to develop pay plans that motivate their younger team members.... Read More »

HANNAH LUTZ

BLOG: Dealers, lenders could fight fraud better together

11:00 am U.S. ET | Sept. 27, 2017

Lenders and vendors are working toward developing consortia to get ahead of fraud. Dealers shouldn't be left only with their own resources.... Read More »

Experts: Boost sales with stories, not scripts

11:00 am U.S. ET | Sept. 27, 2017

A scripted F&I interview may be a good foundation for an F&I rookie, but emotion-based selling goes further, experts say.... Read More »

 
Bentley Bentayga's autonomous tech tops Audi's

Nick Gibbs
9:46 am U.S. ET | Nov. 16 2017

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Driving the Bentley Bentayga shows just how sophisticated self-driving technology has become as its ...
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French tech company NAWA sees ultracapacitor battery breakthrough

Nick Gibbs
5:53 am U.S. ET | Nov. 14 2017

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French tech company NAWA believes it has found a way to boost the power of ultracapacitor batteries ...
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Why Vauxhall is likely to survive despite a steep sales slump

Nick Gibbs
4:56 am U.S. ET | Nov. 13 2017

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PSA's strategy to reduce non-profitable car sales is harming Vauxhall, which saw sales plunge drop 3 ...
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Volvo's subscription plan could be a boon for dealers too

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

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Volvo seems to have found a new way to get its vehicles into the hands of customers that is digital, ...
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Without PSA tech, Opel could have been killed by EU CO2 fines

Luca Ciferri
6:08 am U.S. ET | Nov. 10 2017

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The EU's target to reduce CO2 emissions from new-car fleets to a 95 gram per km average by 2020-2021 might have been the kiss of death for Opel/Vauxhall if PSA hadn't stepped. ...
 Read More ›

Europe's automakers score a win with new CO2 targets

Christiaan Hetzner
4:36 am U.S. ET | Nov. 9 2017

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Outwardly Europe's carmakers are complaining about the EU's proposed fleet emission targets through ...
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Car rejection claims 'totally false,' Seat CEO says

Douglas A. Bolduc
12:01 am U.S. ET | Nov. 9 2017

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Seat CEO Luca de Meo says claims that a growing number of people are rejecting car ownership are "to ...
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PSA's Opel purchase leaves Citroen odd man out

Peter Sigal
12:01 am U.S. ET | Nov. 1 2017

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PSA's purchase of Opel means the automaker now has three mass-market European brands. This could be ...
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VW brand's profit margin goal is too easy

Christiaan Hetzner
6:28 am U.S. ET | Oct. 30 2017

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VW brand's turnaround plan is not even a year old and yet next month the brand's CEO, Herbert Diess, ...
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Toyota is not seeking No. 1 status; still cautious on EVs

Luca Ciferri
4:03 am U.S. ET | Oct. 26 2017

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Toyota Executive Vice President Didier Leroy showed a much bolder Toyota at the Tokyo auto show with ...
 Read More ›

Newsletters & Alerts
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Ford, Nissan among winners as Russia sales rise 17%
Ford and Nissan had big jumps in new-car sales in a Russian market where overall volume increased 17 ...
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UK sales slump 12% in Oct. in 7th monthly decline
UK registrations in October fell by 12 percent, marking a seventh consecutive month of decline. Vaux ...
 Read More ›
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Spanish sales rise 14% in Oct. despite political tensions over Catalonia
Spain's new-car sales increased 14 percent in October even as tensions over Catalonia's bid to gain ...
 Read More ›
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Italy's record month benefits French brands, Toyota but FCA sales decline
French brands were among the winners in an Italian market that had a record month for new-car sales ...
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German market's 4% growth helps Peugeot, Citroen but Opel drops back
PSA's mainstream brands, Peugeot and Citroen, powered ahead in a German market up nearly 4 percent l ...
 Read More ›
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French sales jump 14% with Nissan, Toyota among winners
French new-car sales rose 14 percent in October, with Nissan and Toyota among the winners. ...
 Read More ›
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Europe sales drop 2% as Brexit concerns hit UK demand
European new-car sales fell 2 percent in September as concerns about Brexit among UK consumers offse ...
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Ford, Kia among winners as Russia sales rose 18% in Sept.
Russia's car market is expected to grow by 11 percent this year after sales rose 18 percent last mon ...
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German sales fall 3% in Sept. on diesel worries
German new-car sales fell 3.3 percent in September as uncertainty over the future of diesel-powered ...
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Germany's 2017 sales to beat expectations, group says
Germany's new-car sales will be stronger than expected this year, helped by incentives for older die ...
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Premium midsize SUVs overtake sedans, wagons in key European segment
Last year for the first time premium SUV models such as the Volvo XC60, Audi Q5 and BMW X3 were more ...
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Renault, Mercedes, Fiat give new life to pickup segment
Renault, Fiat, Mercedes, and soon PSA, are all launching pickup trucks to take on market leader Ford ...
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Automakers add more tech to subcompact cars to boost margins
New models, increased technology and a strong focus on personalization are helping volume automakers ...
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Small SUVs in focus as Citroen, Hyundai, Kia and Seat ready challengers
Europe's small SUV segment is about to get a lot more crowded as automakers including VW, Hyundai, K ...
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EVs are Europe's fastest growing segment
The EV segment was Europe's fastest growing sector in the first half as sales jumped 56 percent. ...
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Mercedes, Mini, help reverse Europe's cabriolet slump
Europe's premium convertible segment is on the rise as new models from Mercedes, Mini and Porsche he ...
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SUVs will continue to dominate in Europe
Surging demand for SUVs and crossovers in Europe shows no signs of slowing. Analysts predict the bod ...
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Peugeot, Ford, Renault lead in high-margin sales to private customers
The Peugeot, Ford and Renault brands were Europe's first-quarter leaders in a key part of the retail business: sales to private customers. ...
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European minicar sales forecast to dip this year, remain steady until 2020
Automakers are increasing technology levels in Europe's minicar segment to maintain consumer interes ...
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Europe's compact minivan sales forecast to see steady decline
Europe's compact minivan segment is forecast to continually decline until 2020 because of rising dem ...
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Kia promotes Russia chief to Europe president
Kia veteran Yong Kew Park, who oversaw the brand's rise to the No. 2 in spot in Russia, has been app ...
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VW Group Canada names new CEO
VW Group said Daniel Weissland will take over its Canada operations. He succeeds Maria Stenstrom, wh ...
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Tesla's head of battery engineering leaves
Tesla's director of battery engineering, Jon Wagner, has left the electric carmaker and is launching a battery and powertrain startup in California. ...
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VW brand appoints new Europe sales chief
VW brand has appointed Manfred Kantner as head of sales in Europe. ...
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Hyundai recruits another BMW engineer for Genesis
Hyundai has recruited BMW engineer Fayez Abdul Rahman to lead architecture development at Genesis an ...
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BMW recruits Audi exec to head brand management
BMW has appointed former Audi manager Sven Schuwirth as head of brand's product management and marke ...
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Ford names new manufacturing boss for Europe; veteran exec Odell to retire
Ford named a new manufacturing boss and a new head of joint ventures and alliances in Europe as part ...
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Kia hires PSA designer to lead China styling team
Kia has hired veteran designer Oleg Son from PSA to be the Korean brand's design chief in China. Ole ...
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Infiniti appoints French exec Meunier as global sales chief
Nissan's Infiniti appointed company veteran Christian Meunier to the newly created role of head of g ...
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Renault touts Alaskan's comfort features
Renault is seeking to capture a share of Europe's small-but-growing pickup segment with the Alaskan, ...
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Mercedes pickup aims to mimic success of brand's SUVs
Daimler hopes the Mercedes X class will be a game-changer for its light commercial vehicles division ...
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Opel Grandland X plugs key gap in SUV lineup
Opel's Grandland X crossover is expected to give the automaker a strong foothold in Europe's popular ...
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Why Kia sees Stonic as groundbreaker
Kia sees the new Stonic as its best opportunity to date to conquer those European customers who rema ...
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'Chic' VW Polo targets younger buyers
VW is repositioning the Polo subcompact to appeal to younger buyers, abandoning an approach in which ...
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Renault moves Koleos upscale for Europe
Renault is counting on high-end features to make its new Koleos SUV more successful in Europe than t ...
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Ford expands Fiesta family
Ford expects buyers of its new Fiesta subcompact to fall into two categories – previous Fiesta ...
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Mazda makes CX-5 an even better drive
Mazda hopes to boost demand for its CX-5, the brand's top-selling model in Europe, with a new genera ...
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Kia Picanto adds tech but stays small
Kia has bucked the trend that cars grow larger with every new generation by increasing the new Pican ...
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Volvo seeks to match XC60's magic
Volvo hopes that by making its new XC60 bigger, safer and more technologically advanced it will be a ...
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Suppliers to the new Aston Martin DB11
Assembly of the all-new Aston Martin DB11 began in May 2016 in at the supercar maker's plant in Gayd ...
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Suppliers to the new Audi Q2
Assembly of the all-new Audi Q2 began in July 2016 at Audi's plant in Ingolstadt, Germany. ...
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Suppliers to the new Peugeot 3008
Assembly of the second-generation Peugeot 3008 began in June 2016 at PSA's factory in Sochaux, Franc ...
 Read More ›
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Suppliers to the new Alfa Stelvio
Assembly of the first-generation Alfa Romeo Stelvio began in January at the automaker's factory in C ...
 Read More ›
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Suppliers to the new Opel Ampera-e
Assembly of the all-new Opel Ampera-e full-electric car began in October 2016 at parent General Moto ...
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Suppliers to the new BMW 5 series
Assembly of the seventh-generation BMW 5 series began in November 2016 at the automaker's factory in ...
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