HANOVER, MARYLAND, FEBRUARY 16, 2022 - The Board of Directors of the National Automotive Finance (NAF) Association, a trade association for businesses involved in financing non-prime auto finance purchases, is pleased to announce Jennifer Martin as Executive Director. Jennifer has over fifteen years of association management experience, holding the titles of Chief of Staff, SVP of Strategic Initiatives, and Member Services Director. She also brings a unique perspective as a former governmental affairs professional with a broad background of leading advocacy efforts for member-driven organizations. NAF Association Board President Paul Gillespie said, “We were fortunate that there was great interest in the position, and we’re very excited that Jennifer accepted the Board’s offer of the role. She has big shoes to fill as former Executive Director Jack Tracey, who passed away in June 2021, was not only a great leader but also a great person. We fully expect that…
Protective Asset Protection focuses on new brand identity, showcases commitment as protectors
CHESTERFIELD, MO (February 22, 2022) – Protective Asset Protection, a leading provider of F&I programs, services and the Protective dealer owned warranty company program, enters 2022 promoting the new Protective brand identity to the automotive, marine and powersport industries.
The new brand identity was formally launched in September 2021, and exemplifies Protective’s 114-year commitment of putting people first, delivering on promises and striving to do more for its customers, business partners, employees and communities. The revitalized Protective branding highlights the organization’s dedication to its partners and customers. Refined values, a new story and a bold visual identity uniquely reflect Protective’s distinct purpose and conviction in helping more people attain a sense of security throughout their lives. The new logo and expressive color differentiate the Protective brand story, showcasing its commitment to being by each customer’s side.
Throug…
Canada fears U.S. companies more likely to head home following bridge blockade fiasco
Hundreds of police on Feb. 13 moved in to end a six-day standoff at the foot of the Ambassador Bridge in Windsor, Ont., arresting close to 50 blockaders who paralyzed Canada’s auto industry.
As truck traffic resumed crossing the Detroit River later that night through the reinforced corridor, the industry tallied the cost to production and weighed the new threat to Canadian competitiveness.
Estimated losses to cross-border automotive trade ranged from more than $383 million to $1 billion, but some stakeholders fear the toll will be even greater for the future of Canada’s auto sector.
“You don’t go play the Super Bowl with 10 guys on your side of the ball. That’s what we’re doing now,” said Flavio Volpe, president of the Automotive Parts Manufacturers’ Association (APMA).
In every capital investment or vehicle-program discussion going forward, Volpe said, Canada will enter shorthanded, with the blockade being a risk that must be “addressed if not m…
Calif. attorney general blasts GAP coverage on cars, backs new bill
California Attorney General Rob Bonta last week tore into guaranteed asset protection coverage and backed a new bill to regulate the auto finance and insurance product.
An attorney general's office news release Feb. 16 called GAP "a costly add-on product of little value to consumers" and "a bad deal" unless a customer was underwater on a loan. It promoted Assembly Bill 2311, which would establish new rules for GAP sales and cancellation in California.
"When Californians walk into a dealership to buy a car, they should feel confident that they're not getting ripped off," Bonta, a Democrat, said in a statement Feb. 16. "Unfortunately, auto dealers often play off our anxieties around making this big purchase, convincing us to add on unnecessary products for hundreds of additional dollars. Paying off your auto loan is hard enough without these junk products tacked on."
Asked about the harshness of these comments, Bonta's press office said some GAP could hav…
Unlocking value from connected-car data
Recall the last time you were behind the wheel of a vehicle. Let’s assume the best-case scenario: the road and weather conditions were smooth. Maybe your journey revealed ocean-coast vistas on a sunny day.
Still, another factor invariably loomed: unpredictability.
Because it is annoyingly impossible to know what’s literally around the corner, car manufacturers are focusing on developing tools that preempt and safeguard against the unforeseeable. And what makes your safety on the road possible given incomplete knowledge regarding a patch of black ice or a truck running a red light? Data.
Whether your vehicle is conventional, connected, or autonomous, a great deal of road-tested data is needed to make your travels safer. The more your vehicle can sense and anticipate, the safer the ride. Data is the fuel.
The world runs on data: successful companies recognize this. Not enough of them though: McKinsey cautions that to date …
New lawsuit says Tesla covered up employee safety violations, ignored racial harassment
SAN FRANCISCO -- A former Tesla Inc. construction manager has filed a lawsuit against the EV company alleging he was fired for reporting widespread safety violations and race discrimination at Tesla's factories.
In the lawsuit filed with Alameda County Superior Court on Friday, Marc Cage, an African American, claimed to have reported safety violations that risked massive explosions at Tesla's battery factory in Nevada and systematic failures by the company to disclose serious on-the-job injuries.
"Tesla’s commitments to unrealistic production goals and frantic efforts to ramp up its production, often to make good on rash promises, overrode any commitment to employee safety," the complaint says.
He also alleged that Tesla employees, with the full knowledge of the company's management, denigrated and harassed him on the basis of his race.
"Virtually every restroom in Tesla’s Fremont facility contained writings or carvings of racist symbols and slurs…
Mazda’s new CX-50 compact crossover will start at $28,025
Mazda's new CX-50 compact crossover will start at $28,025 with standard all-wheel drive and shipping charges, putting the base model $900 above the existing CX-5 in the same segment.
The CX-50 goes on sale in March and is the first Mazda vehicle out of the automaker's new manufacturing plant in Huntsville, Ala., a joint venture with Toyota. Production of the CX-50 began in late January.
In keeping with Mazda's upmarket intentions, the 2023 CX-50 can be loaded with options, such as a turbocharged engine, panoramic moonroof, premium sound system, leather seats, bigger wheels and premium-vehicle amenities.
The top trim for now is the CX-50 2.5 Turbo Premium Plus, starting at $42,775 with shipping. Premium paint colors include the brand's popular Soul Red Crystal Mica for $595.
Mazda also plans to add a trim-topping Meridian Edition later in the year, with distinct alloy wheels, all-terrain tires and an accessories package geared toward off-road use. …
Group 1 sells Honda, Toyota dealerships in Massachusetts
Group 1 Automotive Inc. sold Honda and Toyota dealerships in Massachusetts, the company said last week.
The auto retailer sold Ira Honda in West Roxbury — a dealership it owned for just a few months — and Ira Toyota of Tewksbury to Automotive Management Services Inc., according to Pete DeLongchamps, Group 1's senior vice president of manufacturer relations, financial services and public affairs, and AMSI.
AMSI, of West Palm Beach, Fla., is owned by Terry Taylor.
The transaction date wasn't immediately available. Group 1 said the two dealerships combined generated about $125 million in revenues over the past year.
Ira Toyota of Tewksbury was renamed AutoFair Toyota of Tewksbury, AMSI confirmed. AMSI acquired AutoFair Automotive Group, a seven-store group in New Hampshire and Massachusetts, in December.
Ira Honda was renamed Parkway Honda. Gregg Vitello, a partner in Parkway Honda, told Automotive News he had been waiting for the chance to …
VW Group dealers begin to sort out aftermath of cargo ship fire
The burned hulk of the vacated vehicle carrier Felicity Ace could be under tow and on its way back to a European port as early as Wednesday, less than a week after it caught fire while on its way to deliver a load of nearly 4,000 Volkswagen Group vehicles from their factories in Europe to U.S. dealerships.
Meanwhile, dealerships across the U.S. spent the weekend and the early part of this week assessing their potential losses and beginning to contact customers whose ordered vehicles are aboard. Estimates of the loss from the fire are as high as $335 million.
The Associated Press reported Tuesday that flames were no longer visible from the ship, and that a salvage crew hopes to get aboard Wednesday to hook up a tow line and bring the Felicity Ace back to port. Authorities do not yet know the cause of the blaze, but the crew reported that the fire had broken out on one of the cargo decks where vehicles, including battery-electric vehicles, were stored for transpo…
Carvana plans to add 3,500 jobs in Atlanta
Online used-vehicle retailer Carvana said Tuesday it plans to add 3,500 jobs at its new Atlanta campus over the next several years.
The facility, which Carvana said was officially open on Tuesday, is now one of the company's largest locations. Of Carvana's estimated 20,000 overall employees, more than 1,500 work there. The retailer has a history in Atlanta, where it launched in January 2013 and sold its first car.
The office building will act as an extension of the company's corporate headquarters, according to a spokeswoman. It adds to Carvana's established presence in the state, which includes an inspection center with more than 400 employees in Winder, Ga. — roughly 50 miles northeast of Atlanta. The company also opened one of its hallmark vehicle vending machines in Atlanta in November 2020.
"Atlanta was the first market where we sold 1,000 cars in one month and is still our largest, even though we've sold more than one million vehicles to date," Car…
BMW iX shows the automaker’s latest EV tech
BMW's new electric flagship -- the iX xDrive50 SUV -- was created and engineered from a clean slate to showcase the automaker's latest technology. It is similar in size to the X5 but with a shorter profile.
Underneath the composite space frame made of carbon-fiber reinforced plastics, aluminum and high-strength steel: two electric motors and a high-voltage battery, which is placed low beneath the passenger compartment.
A 111.5-kilowatt-hour lithium ion battery pack sits in the middle of the iX's 118.1-inch wheelbase. The front motor produces 268 hp and 260 pound-feet of torque while the rear has 335 hp and 295 lb-ft.
The EPA hasn't certified the iX's range, but BMW estimates the number will be close to 300 miles.
The 2023 BMW iX M60, a more powerful version of the iX electric crossover, delivers up to 610 hp and an EPA-estimated 280 miles of driving range on a single charge. It will be available in June.
"The iX's key mission in li…
From ‘digital’ to ‘modern’ retailing?
The term "digital retailing" helped explain the shift many dealerships experienced in the spring of 2020 as they sought to sell vehicles during a public health emergency that by necessity required people to keep their distance.
Even before the coronavirus pandemic, though, consumers were gravitating toward a car-buying experience that was easier and faster than having to wait inside a dealership for hours to get the keys.
A consensus never really seemed to emerge on what "digital retailing" meant. For some dealerships, it was a checkout button on the website. For others, a digital transaction included some online elements, even if the deal wrapped up at the store. Others described digital retailing as the ability for a buyer to move from start to finish online, even if some documents still required signatures in person with ink.
Even as those variations took hold, the term "omnichannel retailing" began to be used with greater frequency to describe the wa…