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CARMEL, Ind. — ADESA will not participate in the automotive remarketing industry’s initiative to establish a multi-platform system (MPS) that would allow simultaneous bidding on vehicles listed on multiple online auction sites. Manheim, ADESA, and other independent auctions began developing the MPS after announcing it at 2014 Conference of Automotive Remarketing. Auction representatives formed a ... Read More »
Read More →By: Gregory Arroyo For the sixth time, President Barack Obama is taking aim at reinsurers, including in his fiscal-year 2016 budget language that would end some of the tax benefits they enjoy. Market insiders, however, believe the administration’s latest attempt to tax foreign reinsurers will once again receive little support from members of Congress. In ... Read More »
Read More →ORLANDO, Fla. – US Equity Advantage® (USEA) announced today that it is now integrated into VisionMenu, Inc.’s software selling platform for automotive dealers. “With the addition of VisionMenu, USEA now services more types of menu software systems than anyone in the industry,” said CEO Robert Steenbergh. USEA is a leading provider of biweekly payment programs ... Read More »
Read More →SOUTHLAKE, Texas – Intersection Technologies Inc. – F&I Express® is pleased to welcome Service Payment Plan, Inc. (SPP) to its ever-expanding, network of aftermarket F&I providers. SPP’s addition to F&I Express will allow dealers on the SPP dealer network, the ability to eRate, eContract and eRegister all of SPP’s payment plan contracts. Founded in 1983, ... Read More »
Read More →COLLEYVILLE, Texas – Pittsburgh-based Jeram Marketing hosted a regional AFIP certification boot camp for the sales and F&I personnel of its dealer-clients and other interested parties earlier this month. The event drew 15 attendees representing nine dealer groups. According to Nancie Pajan, director of training at Jeram Marketing, “I earned my senior AFIP certification at ... Read More »
Read More →Honda Motor Co.’s chief executive officer will step aside later this year as Japan’s third-largest carmaker reels from one of the biggest setbacks over quality in its history, reported Bloomberg. In a surprise announcement on Monday in Tokyo, 61-year-old Takanobu Ito said he’ll hand over the reins to Managing Officer Takahiro Hachigo, 55, after the ... Read More »
Read More →The federal government has levied a $14,000 per day fine against air bag manufacturer Takata Corp. for failing to cooperate with a safety investigation over causes for its air bag inflators rupturing, a defect that has resulted in at least four deaths in the U.S, reported Detroit Free Press. U.S. Transportation Secretary Anthony Foxx announced ... Read More »
Read More →DETROIT – General Motors has named Craig Glidden executive vice president and general counsel, effective March 1, reported MLive. Glidden, 57, replaces Michael Millikin, 66, who is retiring in July. Millikin faced harsh criticism from lawmakers on Capitol Hill for his department’s handling of GM’s ignition switch recall crisis, with one senator even wondering aloud ... Read More »
Read More →WASHINGTON — Five trade groups representing the nation’s largest auto finance sources issued a letter yesterday to the Consumer Financial Protection Bureau’s Richard Cordray, urging the director to review and respond publicly to a study that questions the bureau’s methodology for measuring disparities in dealer reserve. The letter, which even lists out three areas the ... Read More »
Read More →MANSFIELD, La. — After Mansfield Auto World reported that a car was stolen in a fraudulent online transaction, the U.S. Customs Service seized the vehicle from a freighter bound for Africa, the Shreveport Times reports. The dealership reported the fraud on Jan. 15 after two credit cards used to purchase the vehicle online were declined, ... Read More »
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