AE eMagazine

GWC Warranty VSCs Now Available in All 50 States

WILKES-BARRE, Pa. — F&I product provider GWC Warranty announced this week that it is now able to operate in all 50 states after receiving regulatory approval in Alaska. “Since 1995, GWC Warranty has been helping dealers sell more cars by giving car shoppers the confidence to become car buyers,” said GWC Warranty CEO and President ... Read More »

AutoNation’s PVR Average Surpasses $1,500

FORT LAUDERDALE, Fla. — For the first time, AutoNation reported F&I gross profit per vehicle retailed (PVR) of more than $1,500, an all-time high for the public dealer group. The group saw an average gross PVR of $1,515 during the first quarter 2015, up $114, or 8.1%, from a year ago. Approximately two-thirds of that ... Read More »

Manheim Vehicle Imaging Generates Gains For Toyota Financial Services

ATLANTA — Toyota Financial Services (TFS) saw a 17% rise in conversion rates during a 16-week trial of Manheim’s Enhanced Vehicle Imaging. The results of the trial were documented in a recent case study released by both organizations. TFS formed a partnership with Manheim to implement the EVI technology. The company was looking for a ... Read More »

Putting F&I Online Increases Profits, MakeMyDeal Finds

ATLANTA — A new study from Cox Automotive company MakeMyDeal found that shifting F&I product information online could be the key to higher sales and profitability. According to the MakeMyDeal 2015 Finance & Insurance Study, 61% of the 500 consumers surveyed believe that F&I products are just ways for the dealer to make more money. ... Read More »

Lithia’s Drop in New-Vehicle Gross Per Unit Offset by Q1 F&I Performance

MEDFORD, Ore. — Lithia Motors’ F&I operations realized a $52 increase in F&I profit per vehicle retailed, which settled in at $1,233 in the first quarter of 2015. The group’s F&I performance, coupled with the $97 increase in used-vehicle gross profit per vehicle retailed ($2,602), helped the 130-store dealer group offset lower new-vehicle gross profit ... Read More »

Ford Laying Off 700 Workers at Michigan Assembly Plant

DETROIT – Amid struggling hybrid and electric vehicle sales, Ford Motor Co. is laying off 700 workers at its Michigan Assembly Plant, according to the Detroit News, reported MLive. The cuts include 673 hourly and 27 salaried employees, beginning June 22. Some of the hourly workers will be redeployed amid summer vacations, and some salaried ... Read More »

Approved Death Claims Related to GM Ignition Switch Recall Rise to 90

DETROIT – The number of approved death compensation claims related to a recall of a faulty General Motors ignition switch has risen to 90, reported MLive. The claims were approved by a fund set up by GM to compensate victims of a defective part in mid-to-late-2000s model cars that has led to a massive recall ... Read More »

Maximus Auto Group Extends Brand Loyalty For Dealers

LOUISVILLE, Ky. – Maximus Auto Group (MAG), the first company of its kind to connect its services to customers via smartphones, has added custom, white-label branding to its patent-pending app, MyCar Mobile. This new feature will allow dealers to match the app’s branding with their dealership’s brand. “Since we thrive on the loyalty of our ... Read More »

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