Sales & Marketing | Auto Finance News - Part 26

Wells Fargo Focuses on Customer Experience as Rate Hikes Squeeze Growth [VIDEO]

LAS VEGAS — Wells Fargo Auto is confident in the current health of the economy and auto industry, but the Federal Reserve’s rate hikes are slowing down portfolio growth, Jerry Bowen, executive vice president, told Auto Finance News during the 2018 Auto Finance Summit last week. “There’s always a risk of unexpected events that could […]

SunTrust Boosts Tech Investment in Customer Experience

SunTrust Dealer Finance is enhancing its customer experience strategy as it looks to build more efficiency into the auto lending process. To start, SunTrust is “expanding” its client experience when it comes to online versus in-person channels, said Chuck Jones, head of national indirect lending. Already, the bank has increased automation to reduce turnaround time. […]

Toyota Seeks Personalization, Transparency With New Lexus Bundled Lease

LAS VEGAS — Personalization and transparency are top priorities in Toyota Finance Services‘ Lexus Complete Lease program, slated to launch in the first quarter of 2019. The program is one of nearly half a dozen pilot programs the OEM has launched, including Flexible Lease through Uber, Car Sharing pilot in partnership with Get Around, and short-term lease pilot […]

How Dealerships Can Increase Revenue With Mobility as a Service Model

LAS VEGAS — Dealerships can increase customer loyalty and profitability by tapping into the mobility-as-a-service model, according to Mike Furnari, chief business development officer at HyreCar, which provides a platform that matches ridesharing-service drivers with car owners who want to rent out their vehicles. MaaS is the integration of various forms of transportation into an […]

At the Big 4, Incentive Spending Drops, Even as Sales Dip

Old truisms apparently do not apply to auto finance. At least for now. When car sales fall, generally captives counter with greater subvention. But after years of incentives marching higher, incentives are dipping. At the Big Four — Ford, General Motors, Fiat Chrysler Automobiles, and Toyota — the aggregate incentive per unit fell 1.9% to $4,150, […]

Hyundai and Kia Expand Use of Dealertrack Electronic Contracting Tool

Dealertrack said Monday that it is expanding its partnership with Hyundai Motor Finance and Kia Motors Finance that will make Dealertrack Contracting available to the brands’ dealers in all 50 states by the end of October. The contracting tool, currently available in 39 states, allows Hyundai and Kia dealerships to submit contracts electronically, which mitigates manual […]

Gubagoo Announces Car Selling Tool For Dealership Sites and Facebook

Gubagoo, which provides a chat, text and video platform for dealers, said this week that its adding retail capabilities to its service. The new features, which are now being piloted, are designed to allow car buyers to use Gubagoo to calculate payments, value trade-ins, apply for rebates, submit credit applications and purchase insurance. The retail […]

Clutch Looks To Increase the Number of OEMs, Dealers on Its Subscription Platform by Year’s End

Clutch is aiming to increase the number of OEMs and dealers using its subscription platform by the end of the year, according to Mark O’Neil, chief operating officer at Cox Automotive, which purchased the technology company in August. To date, Clutch has signed on BMW, Mercedes-Benz, and Porsche. O’Neil said the company is in discussions […]
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