House Approves Resolution to Repeal CFPB's Dealer Participation Guidance
Auto Dealer Today Top News
Week of May 21, 2018
Top 5 News
1. House Approves Resolution to Repeal CFPB's Dealer Participation Guidance
As expected, the House approved the resolution of disapproval of the CFPB's guidance on dealer participation. With the Senate having voted on the resolution last month, all that's left to rescind the controversial guidance is President Trump's signature.
2. Equifax: Finance Sources Pull Back From Subprime, Leasing
January saw a significant drop in lease originations, as finance sources placed a greater emphasis on loan incentives, according to Equifax. The firm also reported that subprime accounts fell to their lowest share of the market since 2006.
3. Votes Pour in for 2018 Dealers’ Choice Awards
DCA voting has begun in earnest as auto dealers nationwide recognize their favorite vendors, suppliers, and finance sources.
4. Group 1 Hits Record PRU in Q1
Group 1 Automotive’s 117 U.S. dealerships averaged $1,718 in F&I gross profit per retail unit, a 4.9% increase from a year ago and a new company record.
5. Luckett Joins Portfolio as Managing Director
Thirty-three-year industry veteran and former Warranty Group exec John Luckett has joined Portfolio as a managing director for sales and agent development.
Top 5 Articles
1. 3 Ways to Empower Dealership Workers
Learn how dealers and other customer-centric business owners are empowering staff to promote loyalty and improve CSI.
2. Usher in a New Era of Vehicle Sales
It’s not too late to bring your dealership up to speed with the changing habits of car buyers. Indiana dealer Peyman Rashid has a three-step plan.
3. Who’s Afraid of the Electric Inventory?
ChannelNet’s Paula Tompkins wants dealers to modernize their sales and customer service processes before disruptive vehicle technology forces their hand.
4. On the Right Path
Sales Pro of the Month Joel White is off to a fast start at Seymour Ford Lincoln in Jackson, Mich.
5. 5 Ways Dealer Tech Has Failed Us
Critical thinking, sales and F&I training, and customer satisfaction are just a few victims of the wave of technology that has completely engulfed many auto dealerships.
 

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