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Former AutoNation Direct Head Joins CU Direct

ONTARIO, CALIF. — CU Direct today announced the appointment of Ron Frey as chief strategy officer of its automotive solutions. He joined the company this month. Frey will oversee the planning and direction of automotive solutions as it relates to product and market expansion. This includes oversight of existing products, including CUDL, a credit union ... Read More »

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Chase Teams With TrueCar on New Vehicle-Shopping Portal

NEW YORK, NY — Chase announced the launch of Chase Auto Direct, a new online portal powered by TrueCar that will allow Chase customers to shop for a vehicle and secure financing. The portal will then direct buyers to a dealership in the Chase network with inventory that matches the customers’ preferences. “Customers today are ... Read More »

December Auto Sales Soar 9% in Record Year

Automakers posted a solid 9% sales gain in December, an exclamation point that sealed 2015 as the biggest sales year ever for the industry, reported USA Today. All told, automakers sold 17.47 million new vehicles for the year, Autodata reported, besting the previous record set in 2000 by 68,138 vehicles. Low gas prices, cheap credit, low unemployment, soaring consumer confidence and warm weather ... Read More »

AutoNation Posts $146 Q3 Increase in F&I Per-Copy Average

FORD LAUDERDALE, Fla. — Strong performances in all of AutoNation Inc.’s business sectors — particularly the group’s F&I operations, which continued to live above $1,500 per copy during the period — drove record third-quarter results for the nation’s largest dealer group. While F&I accounted for 4.3% of the company’s $5.1 billion in same-store revenue, F&I ... Read More »

AutoNation Posts $146 Q3 Increase in F&I Per-Copy Average

Firm Suing TrueCar Files Second Mass Action Lawsuit

MINEOLA, N.Y. — Bellavia Blatt & Crossett filed a second mass action lawsuit against TrueCar on July 30, this time representing 100 dealerships that are currently affiliated with the car-shopping site. In March, the law firm filed a mass action lawsuit on behalf of 117 — now over 200 — non-affiliated dealerships, alleging that TrueCar’s ... Read More »

Firm Suing TrueCar Files Second Mass Action Lawsuit

MINEOLA, N.Y. — Bellavia Blatt & Crossett filed a second mass action lawsuit against TrueCar on July 30, this time representing 100 dealerships that are currently affiliated with the car-shopping site. In March, the law firm filed a mass action lawsuit on behalf of 117 — now over 200 — non-affiliated dealerships, alleging that TrueCar’s business practices ... Read More »

Spending on New Cars Hits All-Time High, Even as Loans Stretch to Record Lengths

While May might not have brought the big uptick in sales we’ve seen in recent months, preliminary data suggest that automakers took in record revenues, with the average transaction price of new cars, trucks and crossovers sold last month climbing by at least 4%, reports The Detroit Bureau.  All told, U.S. buyers spent a record ... Read More »

Mass Action Suit Filed Against TrueCar

MINEOLA, N.Y. — The law firm of Bellavia Blatt & Crossett filed a mass action lawsuit against TrueCar today, claiming that dealers have been injured by the lead provider’s business practices. So far, 117 dealerships are part of the suit — a number Senior Partner Leonard Bellavia expects to rise drastically. “I have another 50 ... Read More »

Land Rover, Toyota Earn Top Honors in ALG’s Residual Value Awards

SANTA BARBARA, Calif. — ALG, TrueCar’s analytics division, named Land Rover and Toyota as the top premium and mainstream brands during its 15th annual Residual Value Awards. The awards program looks at 26 vehicle segments and forecasts which will retain the highest percentage of MSRP value after a three-year period. The awards will be presented ... Read More »