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Automotive Finance Industry Shows Consistency in Q4 2020 Despite Disruptions

Overall, the automotive finance market has remained resilient, despite the pandemic. Staying close to the data will help lenders ensure they have the right options available to fit consumers’ needs and budgets.

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New Car Workflow from Rapid Recon Provides Transparency into New-Car Operations

Rapid Recon works with the dealer’s new-car team to create a customized, stand-alone New-Car Workflow that mirrors their existing process.

RepairPal Shops to Perform DOWC Service Contract Repairs

A new partnership connects Dealer Owned Warranty Company service contract holders with RepairPal’s network of 2,500 certified repair shops.

Automotive Consulting Enterprises Debuts In-House Training Program

Enrollment is now open for classes held at Automotive Consulting Enterprises' new automotive training facility at the company’s Kansas City-area headquarters.

Recall Sweep Targets AutoNation Dealerships

The U.S. PIRG Education Fund issued a damning report after finding one in every nine used vehicles for sale at 28 AutoNation-owned locations in 12 states is subject to an open recall.

Calif. Dealers Get Warranty Rate Hike, 10-Year Upgrade Intervals, CCPA Exemption

California Gov. Gavin Newsom has signed AB 179, enacting new dealer protections against below-market warranty reimbursement rates and OEM-ordered facility upgrades. The bill also allows dealers to issue recall notices without violating new data privacy rules.

World’s First Carbon-Neutral Dealership Changes Hands

Motorcars Honda of Cleveland Heights has been purchased and renamed by the nine-store Foundation Automotive group. The Ohio store was recognized by BP as the world’s first carbon-neutral auto dealership in 2016.

Pace of Dealership Acquisitions Slows in Q2

Kerrigan Advisors’ latest Blue Sky buy/sell report counts 49 transactions in the second quarter, a slight decline from Q1 but enough to maintain a 200-plus-transaction pace for 2019.

Ally: Soaring Costs Make Case for Service Contracts

An Ally/Harris survey of U.S. consumers found only 21% had purchased a vehicle service contract, propelling their average five-year maintenance and repair costs to nearly $2,000.

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Calif. Dealer Wins $15.8M in Toyota Lawsuit

An Orange County jury found in favor of Toyota dealer Roger Hogan, who sued the factory for fraud and breach of contract amid claims the manufacturer concealed safety defect data and retaliated against him for going public with his concerns.