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Dealership Profits Decline
While new and used retail sales stagnated, dealerships have been particularly supported by fixed operations and finance-and-insurance profits, according to a new report.
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SEARCHMENUSEARCHWhile new and used retail sales stagnated, dealerships have been particularly supported by fixed operations and finance-and-insurance profits, according to a new report.
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Learn how generic retail installment contracts and insufficient disclosures can turn a legal transaction into a costly violation of TILA, Reg Z, or your state’s finance charge rules.
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Peter Jacobson, formerly with Toyota Financial Services, has joined Portfolio as a reinsurance specialist.
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Industry Summit’s annual ‘From the Boardroom’ session will feature executives from F&I product providers and software firms, who will tackle the big questions facing F&I offices as the industry continues to push for a more digitized car-buying experience.
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June wholesale prices for used vehicles up to eight years in age fell by an average of 0.9% compared to May. Losses at the segment level were less than historic norms across the board on both the mainstream and premium sides of the market, the firm said.
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The company reported that 45% of vehicles sold in the first half were to digital buyers on Manheim.com. The firm also detailed enhancements it’s planning to make to the Manheim Marketplace over the next few months.
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Penske said today it intends to integrate electronic document management to improve workflow and efficiency and install the Reynolds docuPAD system in F&I departments across more than 120 Penske dealerships.
Read More →The two companies have rolled out what they claim to be the first production-ready LTE-M GPS tracking device for the BHPH dealer and vehicle finance industries.
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Wheel’s Automotive Dealer Supplies Inc. and Monroneylabels.com have teamed up to jazz up the Monroney Label and add a little merchandising punch to the mandated sheet of paper.
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Alex Mallman, who most recently served as president and CEO of Mercedes-Benz Auto Finance China, replaces AutoGravity’s co-founder and CEO Andy Hinrichs, who left in May, according to the Orange County Business Journal.
Read More →A new strategic partnership between HyreCar and DriveItAway was designed to extend a turnkey carsharing solution to auto dealers across the country.
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