CNA Surpasses $500M in Distributions
A record year for dealer participation programs pushed CNA National past the $500 million mark in distributions since the company’s inception.
SCOTTSDALE, Ariz. — CNA National Warranty Corp. returned nearly $49 million to automobile dealers across the U.S. through its various participation programs in 2018, bringing its inception-to-date total to over half a billion dollars, the company announced.
“2018 was a banner year for our participation programs with the highest annual return since the establishment of these plans,” said Joe Becker, president and CEO. “With more than $500 million having gone back to our dealers over the years, these industry-leading retro and reinsurance options continue to offer a reliable way to maximize profitability.”
CNA has earned multiple awards for its programs in the annual Dealers’ Choice Awards, including four first-place honors in the Service Contract Reinsurance category since 2011.
Originally posted on F&I and Showroom
More Industry
Driving Under Distraction
Though consumers gave higher marks to new vehicles in JD Power’s most recent initial-quality poll, high-tech interference worsened, pointing to craving for simplicity.
Read More →
Affordable New Cars a Thing of the Past
More than one out of five new vehicles sell for more than $60,000, according to Edmunds. That's up 7% compared to prepandemic 2019.
Read More →
State Follows Federal Warning on Auto Ads
The Massachusetts attorney general cautioned the state’s automotive dealers to be upfront with the consuming public about their vehicle prices or risk punishment.
Read More →
Consumer Outlook on the Rise
Younger generations are feeling more positive about their financial futures and current affordability pressures than older generations, according to recent TransUnion data.
Read More →
Pennsylvania Dealership Under New Retailers
The sale of the Chrysler Dodge Jeep Ram store puts a family auto group on a leaner path as first-time dealers take the helm.
Read More →
Battery Storage Takes Priority Over EVs
U.S. automakers are prioritizing battery energy stationary storage over electric-vehicle production as the consumer demand for EVs lags the rest of the world.
Read More →
Auto Dealers Feel Better But Not Great
A second-quarter Cox Automotive poll of franchised retailers and independents found better views of the current market after a good spring but anticipation of third-quarter storminess.
Read More →
New-Vehicle Sales Picture Relative
A May forecast is complicated by last spring’s trade tariff effects on auto retail. Despite continued hard realities, many consumers took advantage of ways to bite the bullet.
Read More →
Auto Group Acquires Third Nissan Rooftop
Iowa-based Coleman Automotive Group recently acquired its seventh dealership, McGrath Nissan, which it renamed Nissan of Elgin.
Read More →
April Less Affordable
Based on prices, reduced incentives and slower household income growth, consumers found it more challenging to buy new last month, Cox Automotive reported.
Read More →