Black Book: Vehicle Values Down in November
After a steady October, used-vehicle values fell slightly in November. Black Book officials said the decline was typical of the holiday season.
After a steady October, used-vehicle values fell slightly in November. Black Book officials said the decline was typical of the holiday season.
The fourth-quarter reading of the Cox Automotive Dealer Sentiment Index shows dealers are optimistic about the next three months. Concerns about price pressure and showroom traffic persist.
Connectiv1 is a new end-to-end marketing platform that includes a predictive analytics engine designed to allow dealers to leverage their data and conduct multichannel campaigns that increase customer retention.
Subprime financing fell to its lowest point since 2012, while prime grabbed the lion’s share of the auto finance space in the third quarter. Even the used-vehicle market has gone prime, with buyers outside of prime accounting for just a third of the market.
Credit Acceptance, Clover Commercial and Westlake Financial have agreed to pay more than $300,000 to settle charges of predatory lending leveled by New York’s Department of Consumer Affairs on behalf of 50 Brooklyn car buyers.
Born out of the F&I product provider’s 2015 and 2016 F&I Innovator of the Year competitions at Northwood University, EFG Companies’ Driver’s Advocate mobile app features a host of service-retention tools, including a loyalty rewards tracker, and doubles as an inventory-management tool.
Black Book’s monthly analysis shows used-vehicle values are closing out the final quarter of 2017 with continued strength.
AutoGravity’s Sheng Wang has been appointed to chief technology officer after serving as the fintech provider’s first product director.
Fastlane has announced plans to offer its online car-buying platform to independent and pre-owned dealers starting in January.
New-vehicle transaction prices are being driven higher by the shifting sales mix away from cars. Ford’s strong mix of F-Series Super Duty sales for the month helped drive up the automaker’s average transaction price by nearly 3%.
U.S. sales of international vehicles were up in November, outperforming a plateauing market, according to the latest report from the American International Automobile Dealers Association.
Auto/Mate Dealership Systems’ DMS is now integrated with DealerFenix’s reporting and workflow automation system.
Volvo Cars used this week’s AutoMobility LA and the Los Angeles Auto Show to debut its 2019 XC40 and a new subscription service for its new compact SUV.
The latest Blue Sky report from Kerrigan Advisors finds the dealership buy/sell market remains highly active as concerns about disruptive technology drive dealers to sell.
Land Rover notched category wins for the Discovery, Discovery Sport, Range Rover Sport and Range Rover and ‘Best Premium Brand’ honors in the 2018 ALG Residual Value Awards.
