Brockman bail conditions to continue

A federal judge ordered no changes to the bail terms for former Reynolds and Reynolds CEO Bob Brockman, who faces charges of tax evasion and wire fraud.

source https://www.autonews.com/retail/brockman-bail-conditions-continue

Lightico secures $13 million, reveals 2 auto lender customers

The capital secured from the latest investment round will be used to add scale to the software as a service company, grow its customer base and invest in its technology platform.

source https://www.autonews.com/finance-insurance/lightico-secures-13-million-reveals-2-auto-lender-customers

Diversity and inclusion across auto lending

From sports analogies to internal definitions, auto finance leaders discuss the importance of drawing on talent from different pools, and creating good tension and discussion that better serves auto finance customers and dealership partners.

source https://www.autonews.com/fi-blog/diversity-and-inclusion-across-auto-lending

Ford Credit: Legacy processes prop up barriers to diversity, inclusion

Removing relocation requirements, recruiting from a larger pool of universities and leaning on virtual internship programs are among the ways auto lenders can increase diversity, according to co-chairs of the Ford Credit Diversity and Inclusion Council.

source https://www.autonews.com/finance-insurance/ford-credit-legacy-processes-prop-barriers-diversity-inclusion

New York study touts marketing power of live auto shows

The study said 229,000 brand additions are made to shoppers' lists as a result of consumers seeing those brands at the New York show.

source https://www.autonews.com/marketing/new-york-study-touts-marketing-power-live-auto-shows

Rivian will offer 2 ways for customers to get vehicles fixed

Rivian CEO RJ Scaringe for the first time explains how Rivian customers and Amazon will be able to get their vehicles serviced. The company will open 41 brick-and-mortar service centers and offer mobile service.

source https://www.autonews.com/service/rivian-will-offer-2-ways-customers-get-vehicles-fixed

Cars.com narrows Q3 net loss, adjusted results improve

The Chicago dealership services and vehicle listings company showed signs its business is recovering from the effects of the coronavirus pandemic.

source https://www.autonews.com/dealers/carscom-narrows-q3-net-loss-adjusted-results-improve

Connected TV is one piece of wider strategy

The idea of connected and over-the-top television advertising is to target buyers more likely to be in market for a vehicle vs. a mass audience.

source https://www.autonews.com/commentary/connected-tv-one-piece-wider-strategy

In pandemic, dealers bullish on valuations

More dealers than a year ago said the value of their dealerships will rise over the next year, according to a new survey by an advisory firm.

source https://www.autonews.com/dealers/pandemic-dealers-bullish-valuations

CDK settles antitrust lawsuit over data access

Terms of the settlement between DMS giant CDK Global and third-party data integrator Authenticom are confidential.

source https://www.autonews.com/retail/cdk-settles-antitrust-lawsuit-over-data-access

Ohio retailer attracts new crowds with drive-in movie nights

Thayer Family Dealerships of Bowling Green, Ohio, typically hosts a handful of events per year to keep customers coming back. It pivoted to hosting drive-in movies during the pandemic.

source https://www.autonews.com/best-practices/ohio-retailer-attracts-new-crowds-drive-movie-nights

Sonic adds leaders for online retailing push

Steve Wittman joined the nation's sixth-largest new-vehicle retailer as its first chief digital retail officer, and Stephen Conrad joined as vice president of e-commerce, also a new position.

source https://www.autonews.com/retail/sonic-adds-leaders-online-retailing-push

Dealers know how to sell cars in reality

There are good reasons why dealers are still needed in the sale of automobiles, writes an Automotive News reader in a letter to the editor.

source https://www.autonews.com/letter-editor/dealers-know-how-sell-cars-reality

CEO poises Tekion as a disrupter to DMS market

The startup is now valued at more than $1 billion.

source https://www.autonews.com/retail/ceo-poises-tekion-disrupter-dms-market

Brockman exits top roles with Reynolds

Facing a 39-count federal indictment, the former chairman and CEO of the dealership services giant is scheduled to appear in court for a bail review hearing this week.

source https://www.autonews.com/retail/brockman-exits-top-roles-reynolds

Nissan will let customers compare rival RAV4 at dealerships

Nissan will offer customers Toyota RAV4 test drives as part of a marketing blitz for its competing Rogue compact crossover.

source https://www.autonews.com/dealers/nissan-will-let-customers-compare-rival-rav4-dealerships

Dealer anniversaries

50 with BMW

Jesse Hord, third from left, CEO of Keeler Motor Car Co. in Latham, N.Y., receives a 50-year award for Keeler BMW. Also pictured are, from left, Gerry Matthews, area manager for BMW of North America; Alan Litrell, Keeler BMW general manager; Patrick Ryan, vice president, Keeler Motor Car Co.; and Tom Shanley, regional vice president for BMW of North America. 

source https://www.autonews.com/dealers/dealer-anniversaries-57

Dealers try to ward off new limits as virus surges

Dealer association leaders are lobbying state and local governments, among other tactics, to try to keep a fresh batch of COVID-19 restrictions at bay.

source https://www.autonews.com/dealers/dealers-try-ward-new-limits-virus-surges

Auto lenders prioritize diversity, inclusion

As protests against police brutality continue into the fall, automotive business leaders contemplate their own diversity and inclusion efforts. Automotive finance, a sector that has historically skewed white and male, has not been exempt from such self-reflection.

source https://www.autonews.com/finance-insurance/auto-lenders-prioritize-diversity-inclusion

F&I drives profit for public retailers in Q3

Several public groups reported record-high F&I profit per vehicle, and two retailers earned more than $2,000 on average in F&I profit per vehicle sold.

source https://www.autonews.com/finance-insurance/fi-drives-profit-public-retailers-q3