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LAS VEGAS — Organizers of the annual Agent Summit have announced that the Reinsurance Symposium, which has become a fixture since it was first spun off into a pre-conference event in 2013, will return for a fourth consecutive year. Agent Summit will be held May 9–11, 2016, at the Venetian Palazzo in Las Vegas, with ... Read More »
Read More →LAWRENCEVILLE, Ga. — According to Black Book data, the average price of a used vehicle for model years 2010-2014 declined 1.1% during February, with cars declining 1.1% and trucks falling 1.2%. Full-size pickups led all vehicle segments with the highest depreciation for the month at 2.7%. Vehicles in this segment include Chevrolet Silverado, Dodge Ram ... Read More »
Read More →SCHAUMBURG, Ill. — The average amount financed and the average monthly payment for new vehicles financed during 2015’s end-of-year quarter rose to record levels, according to Experian Automotive. But those weren’t the only records set during the period. The credit reporting agency reported today that the average amount financed for a new vehicle in the ... Read More »
Read More →BLOOMINGTON, Ill. — The Federal Reserve’s recent interest rate hike and a rocky start to the year in global financial markets is hurting consumer confidence, according to a new survey. It showed that, on average, American believe there is a 36% chance the U.S. economy will fall into a recession this year. The COUNTRY Financial ... Read More »
Read More →BROOMFIELD, Colo. — DealersLink announced it is finalizing full implementation of its automotive solutions into several dealer groups, including Rob Green Auto Group, Butler Automotive Group, Haselwood Auto Group, Dave Smith Auto Group, and Strong Auto Group. DealersLink officials said the company’s line of automotive solutions should be especially attractive to small and mid-sized automotive groups ... Read More »
Read More →HARTFORD, Conn. — The Connecticut Automotive Retailers Association, along with General Motors and Alliance Auto Manufacturers, held a joint press conference on Tuesday to speak out against proposed legislation that would allow electric carmakers to circumvent state franchise laws and sell directly to consumers. A public hearing was scheduled for today to discuss Senate Bill 3, ... Read More »
Read More →IRVINE, Calif. — The estimated average transaction price for a new car reached $33,781 in February, a 2.2% increase from the prior year, according to Kelley Blue Book. The vehicle information site attributed the rise to low gas prices pushing more consumers toward more expensive pickup trucks, and vehicle OEMs are responding by increasing incentives ... Read More »
Read More →Charlotte, N.C. — Record-high used-vehicle sales, strong growth in fixed operations gross profit and a healthy F&I department helped deliver a strong four-quarter performance for Sonic Automotive in spite of continued new-vehicle pricing pressure. Sonic sold a record-setting 35,058 new vehicles on a same-store basis during 2015’s end-of-year quarter. Due to pricing pressure, however, new-vehicle ... Read More »
Read More →Albuquerque, NM – SouthwestRe announced today the release of First Automotive Powertrain Wrap, a new vehicle service contract meant to be sold in conjunction with its First Automotive Lifetime Powertrain Limited Warranty program. Powertrain Wrap “wraps around” Lifetime Powertrain Limited Warranty to provide dramatically increased coverage for the consumer. “Powertrain Wrap works hand-in-hand with our ... Read More »
Read More →LAKE FOREST, Calif. — Portfolio, one of the nation’s leading reinsurance program managers for automotive dealers, has named Casey Van Schoyck to the new position of Chief Compliance Officer. She will report to Dan Haugen, Chief Operations Officer. ... Read More »
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