Archive | Auto Industry News

AFSA to Congress: The CFPB ‘Needs to Be Reined In’

WASHINGTON, D.C. — A day after House Republicans called for the dismissal of Consumer Financial Protection Bureau and its leader, the American Financial Services Association (AFSA) called on Congress to prohibit the CFPB’s use of the disparate impact theory, limit its enforcement authority, remove its ... Read More »

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FTC Approves Settlements With CarMax, Asbury, West-Herr

WASHINGTON, D.C. — The Federal Trade Commission last week approved settlements with CarMax, Asbury Automotive, and West-Herr Automotive Group, which the regulator charged with failing to disclose that some pre-owned vehicles offered for sale had unrepaired safety recalls despite the companies’ claims of rigorous vehicle inspections. ... Read More »

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AAA: One-In-Three U.S. Drivers Can’t Afford Unexpected Repair

ORLANDO, Fla. —Sixty-four million U.S. drivers would not be able to pay for an unexpected vehicle repair without going into debt, indicating that some drivers may underestimate the full cost of owning and operating a vehicle, according to a new AAA survey. The average repair ... Read More »

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AutoLoop Studies Reveal Reasons Dealers Fail to Convert Leads Into Buyers

CLEARWATER, Fla. — Customer relationship management solution provider AutoLoop LLC today revealed the Top 3 reasons dealerships have difficulty converting leads into buyers. According to recent study results, the reasons are inadequate explanation of the pricing and value proposition, lack of timely follow up and ... Read More »

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Ally Rolls Out Online Auto Finance Marketplace

DETROIT — Ally today introduced an online marketplace called Clearlane. It connects consumers with auto finance providers to finance or refinance their vehicles with ease.  Clearlane’s process provides customers with quotes from a robust network of finance providers, as well personalized support to help apply ... Read More »

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NADA Sticks to 17.1 Million-Unit Forecast

TYSONS, Va. — In a Wednesday-morning conference call with members of the automotive press, the National Automobile Dealers Association (NADA)’s chairman, Chicago-area dealer Mark Scarpelli, and its chief economist, Steven Szakaly, predicted new-vehicle sales would remain above the 17 million-unit mark in 2017. Throughout the ... Read More »

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