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Lyft is coming on board CDK Global Inc.'s Fortellis platform, the automotive commerce exchange platform said. The move will enable the ride-hailing company's Concierge service to be directly accessed in CDK software.
Five of the six public new-vehicle dealership groups improved average F&I gross profit per vehicle in the second quarter, driven primarily by F&I training efforts, growing F&I product penetration and increased retail sales.
Hendrick Automotive Group uses docuPAD to improve training for its F&I managers.
National Auto Care's change in ownership to private equity firm Lovell Minnick Partners will give the F&I product provider the capital and expertise to broaden its business over the next few years.
Santander executives couldn't help but brag about origination growth for the company's Chrysler channel during a second-quarter earnings call.
After 35 years with the automaker, Mike Groff, Toyota Financial Services CEO, will retire Aug. 31. Toyota Financial executive Mark Templin will replace him starting Sept. 1.
After acquiring scores of dealerships across the country in recent years, Lithia is now scrutinizing its store network for underperformers and will sell nearly a dozen.
A dealership group with stores in Arizona and New Mexico has been charged by the Federal Trade Commission with income falsification among other illegal activities.
GM Financial led overall manufacturer loyalty among captive lenders in 2017, according to an internal analysis of IHS Markit data.
Daimler Financial, the finance arm of Daimler AG, will be renamed Daimler Mobility AG in the first half of 2019, underscoring the transformation of the business into a mobility services provider.
In a market where dealers struggle to acquire used vehicles at
Ally Financial's auto originations rose 12 percent in the second quarter, largely driven by gains in the used-vehicle market.
Lithia's profits and revenue are up as the company continues to grow through acquisitions.
Where F&I products fit in the future of subscription services may be too soon to predict, but programs such as Ford's Canvas say business runs just fine without them.
Managing negative reviews is vital to maintaining a dealership's reputation, and the F&I office needs to be especially vigilant, given how difficult it is to resolve an issue once a deal has been closed, experts say.
The sudden change in management atop Fiat Chrysler Automobiles, prompted by the recent illness and
Asbury increased revenue and net income in the second quarter despite continued margin pressure. Gains in its used-vehicle, finance and insurance, and parts and service businesses drove the boost.
Turns out, if you want to be a disrupter but have little to no automotive experience, you're going to need some help.
Longtime Mercedes-Benz financial executive Alex Mallmann has been named CEO of AutoGravity, the financial technology company said. Mallmann, 47, replaces Andy Hinrichs, who has left the company.
Subscription service provider Flexdrive uses telematics devices installed on vehicles to trim the cost of depreciation and insurance for its dealership partners.
F&I has been a dealership profit center for decades but industry trends such as subscription services, online shopping and electric vehicles could prompt dealerships to restructure the role.
AutoGravity co-founder and CEO Andy Hinrichs has left the company to pursue other opportunities. He will be replaced by Alex Mallmann, former head of Mercedes-Benz Auto Finance China.
Mason oversees all finance operations for the nine stores within the dealership group. In Mason's first five months with the company, F&I profit per vehicle has increased $300.
Raised the F&I revenue per new vehicle at Suntrup Automotive Group in St. Louis, Mo., more than $300 in five months
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