CUDL Holds Onto No. 2 Spot in Auto Finance Rankings
Auto Dealer Today Top News
Week of March 27, 2017
Top 5 News
1. CUDL Holds Onto No. 2 Spot in Auto Finance Rankings
The more than 1,000 credit unions on CU Direct’s lending platforms maintained their No. 2 spot on Experian’s auto finance leaderboard in January. And with plateauing demand for new vehicles expected to drive up pre-owned sales, the market appears ripe for credit unions to reap further market share gains.
2. Ford Tests Smart Service Kiosks
LaFontaine Ford of Birch Run (Mich.) is the first Ford dealership to test the Panasonic/GoMoto Smart Service Kiosk.
3. AutoLoop: Dealers Lose $380K in Millennial Service Revenue
A new study from AutoLoop finds dealers are failing to properly market their service departments, engage service customers digitally, and improve the service experience.
4. Sage to Pay $3.6 Million to Settle FTC Charges
The nine-store, Los Angeles-based Sage Automotive Group will pay $3.6 million to settle charges of deceptive and unfair sales and financing tactics, including yo-yo financing and payment packing.
5. EasyCare Launches SelectCare for Retail and Lease Customers
SelectCare was designed to cover parts not covered by the factory warranty, vehicle service contract or prepaid maintenance plan.
Top 5 Articles
1. Tesla vs. Franchise: Weighing the Pros and Cons
Todd Bryant ponders the implications of Tesla’s direct-sales model for car buyers and their communities, both of which have benefited from the franchise model.
2. How to Perfect the Walkaround
A properly executed walkaround is still the most effective tool for building trust, creating an emotional connection to the vehicle, and closing the sale.
3. Pick One Goal for Facebook Ads
Facebook’s new ad categories give dealers the opportunity to create multiple campaigns to target increasingly down-funnel car buyers.
4. Your Paper Tracks
Dealers who maintain records documenting their compliance efforts are better equipped to respond to regulatory inquests.
5. Geopolitics and the Car Business
President Trump has promised a 35% tariff on vehicles built in Mexico and sold here. Legal expert explains why neither a border tax nor the trade war it would spark is a realistic possibility.
 

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