Category: Press Releases

Cost of Loans in Singapore

Singapore is an economy hub. There are so many individuals who want to work and live in one of the cleanest countries in the world until they actually get to live on it.

With the country’s high cost of living, it can be hard to keep up with the demands of one’s needs versus what one wants to achieve. For many individuals, there are so many ways that they can survive and one of these ways is by obtaining a loan.

Before we go ahead and tell some of the pros and cons about each type, here is a short run down on the types of loans that you can get in Singapore:

  • First, you can try the Residential Home Loan. With only an interest of 1.6 to 2.6 percent, this one is the perfect home loan to make sure that one will survive the rising prices.
  • Second, one may also try the Commercial & Industrial Property Loan which is for properties in the commerce or industry category. The interest rate is higher at 2 to 3.5 percent.
  • There are also Personal Car Loans that come in with an interest rate of 4.5 to 6.5 and may last up to 7 years.
  • Fourth, there are Company Car Loans with an interest of 5.5 to 9 percent.
  • The SME Micro Loan is also available at a rate of 6 to 8.75 percent and with a term of 1 to 3 years
  • There is the SME Loan which may be Secured with Property but the interest rate is still at a high 6 to 12 percent.
  • The SME Working Capital Loan is also available at up to $300,000 with an interest rate of 6.5 to 8.5 and a term that lasts between 1 to 5 years
  • The other types of loans include:
    • Unsecured Business Term Loan;
    • Pawn shop;
    • Personal Loan in Banks;
    • Peer-to-peer corporate lending;
    • Factoring and Invoice Discounting;
    • Credit Cards;
    • Licensed Money Lender; and
    • Business Bridging Loan.

Now that you know the kinds of loans, what are these loans all about and how do you use them?

First kind of loan is the Residential Home Loan. The rules in Singapore regarding a residential home loan is simple, whenever an individual has a home which is valued at $1 million, he may obtain a loan of only $750,000. The good thing about it is that if the borrower would have no means to pay the debt as they fall due, the lender is practically assured of their capital that they would lend since the capital is returned securely.There are also loans that come in the form of Commercial and Industrial Property Loans or CIP Loans. These are the kinds of loan that is available for Retail, Offices and Industrial properties. Just like the residential home loan, the loans are backed up by the properties as assets.
Third, there are also car loans that are also secured loans. Vehicles are used as collateral so the loans are always approved and the interest rates are low.

There are also loans for commercial vehicles where credit companies play an important role in car loan processing.Another kind of loan is the SME Micro Loan that allows individuals to loan up to S$100,000. To qualify for an SME Micro Loan, the following are the requirements:

  • The company must be registered and operating in Singapore for at least 2 years.
  • The individual must have at least 30% local shareholding.
  • The annual sales of the loan is up to S$1 million. The loan gives up to 10 employees.

Unfortunately, even if the loan looks good, most SMEs do not get approved for it. Another kind of loan is a loan from a licensed money lender in Singapore.

When all else fails and you still need a loan, a licensed moneylender in Singapore could help you out. This option applies to those who fail the credit assessment or who do not meet other income eligibility criteria.

The word of caution that a borrower needs to know about this is that since the risk that the licensed money lender is high, the interest rate is higher to compensate for that.…

Federal Rules Cost New-Car Dealerships More Than $3 Billion Each Year

Regulatory costs passed on to dealership customers, according to the Center for Automotive Research

WASHINGTON (May 30, 2014) – U.S. new light-duty vehicle dealers spent $3.2 billion in 2012 to comply with 61 major federal rules, resulting in higher prices for dealership customers and the loss of an estimated 10,500 dealership jobs, according to a new report released by the Center for Automotive Research (CAR), based in Ann Arbor, Mich.

According to the report, The Impact of Federal Regulations on Franchised Automobile Dealerships, the average dealership incurred $182,754 in costs to comply with federal mandates governing employment, business operations, vehicle financing, sales, marketing, and vehicle repair and maintenance. These regulatory costs equated to 21.7 percent of the average dealership’s pretax, net profits – or about $2,400 per dealership employee.

“The additional cost for new-car dealerships to comply with federal regulations are passed along to our customers in the form of higher prices, which results in lower vehicle sales and reduced employment at dealerships,” said Forrest McConnell, III, chairman of the National Automobile Dealers Association and a Honda/Acura dealer in Montgomery, Ala.

The overall impact of these costs on the 2012 U.S. economy was estimated at $10.5 billion in lost economic output and more than 75,000 fewer jobs, says CAR.

Every $1 increase in a dealership’s regulatory compliance costs results in $3.28 in lost output in the U.S economy and a net loss of 44 cents to the U.S. Department of the Treasury, according to the report.

The CAR report examined the costs incurred by new-car dealerships to comply with 61 federal regulations  – a mere subset of all federal regulations with which new-car dealerships must comply. The study did not analyze the costs of upstream mandates imposed on vehicle manufacturers, such as fuel economy and safety rules. State and local regulatory mandates also were not analyzed. Thus, the study significantly underestimates the total regulatory burden imposed on dealerships.

NADA commissioned the CAR report. Cost estimates are for 2012 and are based on interviews in 2013 and 2014.…

NADA Rebuts Misguided New York Times Editorial on Auto Lending

The Times’ editorial, “When a Car Loan Means Bankruptcy,” is an unfair and unfounded attempt to portray the auto lending industry as a hotbed of deceptive practices and a harbinger of insolvency that could lead to another recession. Nothing could be further from the truth. Auto loan defaults are at historic lows (less than 1 percent in June).

Franchised new-car dealers deliver widely available and low-priced credit to a broad array of consumers, including those most in need of a car to start their way up the economic ladder.

Before demonizing such a valuable and consumer-friendly system, let’s check the facts:

  • During the Great Recession, auto loans were one of the best performing asset classes. Auto loan default rates never went higher than 2.74 percent, versus first mortgage default rates that hit 5.67 percent.
  • Extending credit for the purchase of a car – which rapidly depreciates in value – is not profitable unless it’s repaid, so putting consumers in car loans they can’t afford is not a sustainable business model.
  • New-car dealerships provide a valuable financing option to consumers. Credit offered by new-car dealers routinely carries lower interest rates than credit offered by other lenders for similar borrowers.
  • It’s illegal to misrepresent a borrower’s credit background and a lender who does so is liable for any default.

Enforcement of existing laws against a small minority of bad players is in everyone’s interest, but smearing an entire industry for the misdeeds of a few is just plain wrong.

Peter Welch is president of the National Automobile Dealers Association.

NADA Issues Statement on Joint CFPB/DOJ Enforcement Announcement

McLEAN, Va. (Dec. 20, 2013) – In response to the enforcement announcement today by the Consumer Financial Protection Bureau and the Department of Justice, the National Automobile Dealers Association issued the following statement:

“NADA fully supports our nation’s fair lending laws and the commitment of federal agencies to eliminate discrimination in the marketplace.

“Regrettably, in today’s announced enforcement action, the CFPB continues to withhold the secret methodology it uses to determine whether unintentional discrimination has occurred.  The public still does not know whether the Bureau takes into account legitimate factors that can affect finance rates – for example, a dealer’s ability, regardless of race, to lower the interest rate to meet a customer’s monthly budget.  The CFPB’s failure to reveal its approach is particularly troubling given the repeated and recent requests from bi-partisan members of both houses of Congress for this essential information.

“We are encouraged that today’s announcement does not mandate any form of a dealer flat fee compensation system.  A flat fee system would eliminate consumers’ right to save money by negotiating lower interest rates with their local car dealers.”

For more information about dealer-assisted financing and the CFPB, visit www.nada.org/cfpb.…

NADAguides.com Survey Ranks Consumer Preferences for New Vehicles

Quality/Dependability moves ahead of Fuel Economy in latest survey; Driver-Assist Technologies score poorly

McLEAN, Va. (Sept. 5, 2013) – Both car and light-truck shoppers ranked Quality/Dependability as the No. 1 factor considered when making a new-vehicle purchasing decision, according to the latest survey from NADAguides.com.

Fuel Economy, cited as the most important preference of both car and light-truck buyers in last year’s survey, was selected as the second-most important factor by car shoppers in this year’s survey. Light-truck shoppers ranked Brand as No. 2, one spot ahead of Fuel Economy.

“While higher gasoline prices and stiffer federal regulations have raised the profile of fuel economy over the past few years, the survey results clearly indicate that car and light-truck shoppers are looking for a trouble-free ownership experience above all else,” said Jonathan Banks, executive automotive analyst for the NADA Used Car Guide.

Survey respondents were asked to rank their top preferences as the most important factor considered when buying a new car or light truck.

Quality/Dependability, Brand, Fuel Economy and Vehicle Design were the top preferences for both car and light-truck shoppers surveyed.

Car Shopper Survey Results

Just like the results from the fall survey in 2012, car shoppers showed a significant preference for Vehicle Design, Safety and Fuel Economy, with an average 69% of respondents citing these factors as either important or very important.

Safety, Versatility/Utility, Vehicle Design and Fuel Economy rounded out the top-five preferences of survey respondents shopping for a light truck.
On average, 60% of respondents shopping for a car rated Versatility/Utility and Power/Performance as either important or very important. Similarly, an average 58% of car shoppers rated cost of ownership factors, such as Warranty Coverage, Depreciation and Maintenance Fees, as either important or very important.

Car shopper preferences for Navigation System, Smartphone Connectivity and Driver-Assist Technologies were ranked the lowest by survey participants.

“With the advent of smartphones, particularly with its navigation capabilities, the desirability of built-in navigation systems seems to be waning among those surveyed,” Banks added.

Light-Truck Shopper Survey Results

The preferences of light-truck shoppers surveyed were similar to car shoppers when determining the factors that had the greatest influence on their next vehicle purchase, although the ranking of each preference differed slightly.

Similar to the survey respondents shopping for a new car, an average 58% of light-truck shoppers rated ownership cost factors, excluding Insurance Fees, as important or very important. Smartphone Connectivity, Navigation System and Driver-Assist Technologies were ranked by light-truck shoppers as unimportant or very unimportant.

Banks pointed out that only 50% of survey respondents shopping for light trucks considered Towing/Payload Capacity to be important or very important. The preference of Towing/Payload Capacity increased in importance for shoppers of full-size pickup trucks and large utility vehicles, while Fuel Economy dropped.

Survey Methodology

The New-Car and -Truck Shopper Preference Survey is regularly conducted on NADAguides.com to assess the importance of features commonly considered by consumers when deciding which vehicle to purchase. Survey results are used to enhance NADA’s used-vehicle valuation efforts, as well as raise vehicle manufacturer awareness to the qualities considered to be the greatest value to new-vehicle shoppers.

The survey, conducted on NADAguides.com in May 2013, garnered nearly 1,700 survey respondents who shared the types of vehicles they were looking to purchase in addition to what they currently drive. About 1,400 participants ranked the features they considered to be the most important when selecting their next car or truck.

Consumers surveyed on NADAguides.com were asked to select one of five answers – Very Unimportant, Unimportant, Neither, Important and Very Important – for the purchase factors commonly considered when shopping for a new vehicle. Respondents were also asked to identify the factor considered most important in determining a new-vehicle purchase.

Former Secretary of State Hillary Rodham Clinton to Keynote NADA Convention in New Orleans

McLEAN, Va. (July 10, 2013) – Adding to the list of distinguished keynote speakers over the past several years, Former Secretary of State Hillary Rodham Clinton will address the National Automobile Dealers Association (NADA) Convention & Expo in New Orleans next January.

Clinton served as the 67th U.S. Secretary of State from 2009-2013 after nearly four decades in public service as an advocate, attorney, First Lady and U.S. Senator. She will deliver keynote remarks on the closing day of the 2014 NADA Convention & Expo on Monday, Jan. 27.

“NADA has a long history of inviting high profile speakers who have provided diverse perspectives on a wide range of issues,” said Desmond Roberts, chairman of NADA’s convention committee and a Chevrolet dealer in Hodgkins, Ill. “We’ve hosted U.S. presidents from both parties as well as prime ministers and other dignitaries who have offered interesting insights and opinions.”

Other convention speakers include Steve Forbes, chairman and editor-in-chief of Forbes Media, and NADA Chairman David Westcott, a new-car dealer in Burlington, N.C., who will deliver remarks on Saturday, Jan. 25.

Army veteran J.R. Martinez, who was injured by a roadside bomb while deployed in Iraq and later won ABC’s “Dancing with the Stars” (13th season), will provide an inspirational address on Sunday, Jan. 26.

Considered the “Automotive Industry Event of the Year,” this will be the 97th annual NADA Convention & Expo, which runs Jan. 24-27 at the Ernest N. Morial Convention Center. It includes 26 dealer franchise meetings, hundreds of industry exhibitors and educational workshop sessions.

Past keynote speakers at the convention have included U.S. Presidents Gerald R. Ford (1988), George H.W. Bush (2000), George H.W. Bush and William J. Clinton (2009) and George W. Bush (2012), as well as U.K. Prime Ministers Margaret Thatcher (1993) and John Major (2002).

The American Truck Dealers (ATD) Convention and Expo runs concurrently with NADA’s four-day convention.

Online registration and housing opens July 22. Dealers and their managers who register by Sept. 13 will receive a $100 discount off the onsite registration rate. For more information or to register, visit www.nadaconvention.org.

NADA and NAMAD Question CFPB’s Approach in Its Guidance on Auto Lending

McLEAN, Va. (March 21, 2013) – The National Automobile Dealers Association (NADA) and the National Association of Minority Automobile Dealers (NAMAD) issued the following statement today in response to the guidance from the Consumer Finance Protection Bureau (CFPB) regarding dealer-assisted financing:

“The guidance issued by the CFPB today attempts to force auto finance sources into changing the way they compensate dealers without any indication that the Bureau has examined the effect this change could have on the cost of credit for consumers. The dealer-assisted financing model (indirect auto lending) has been enormously successful in both increasing access to, and reducing the cost of, credit for millions of Americans. Consumers overwhelmingly choose optional dealer-assisted financing because it’s convenient and competitive. The CFPB’s attempt to eliminate the dealer’s ability to discount the APR that it offers to consumers will only weaken the consumer’s ability to secure financing at the lowest possible cost. This anti-competitive approach is not in the interests of consumers and should not be accomplished through guidance and enforcement actions that lack transparency, the opportunity for public comment, and the benefits of a data driven analysis into the effects they would have on consumers and the automobile financing marketplace. It also should not be accomplished without the full participation of the Federal Reserve Board and the Federal Trade Commission, which are the two agencies that Congress vested with authority over auto dealers engaged in indirect lending.

“NADA and NAMAD strongly oppose any form of discrimination in auto lending, and the CFPB guidance appropriately explains that unlawful discrimination has no place in the marketplace. However, it is relying on a theory of discrimination that is based on a statistical analysis of past transactions – not intentional conduct – and the CFPB has not provided any information about how it is conducting its analysis. Without such basic information as how the CFPB is identifying different groups of consumers, how it is controlling for factors that can affect finance rates but are unrelated to the consumer’s background, and what constitutes a finding of disparate impact, one can have little confidence that the CFPB is conducting its analysis in a statistically-reliable manner. Regrettably, no one is well served by such an opaque process. While NADA and NAMAD stand ready to work with all of the federal agencies with responsibilities in this area, NADA and NAMAD encourage the CFPB to approach this issue in a more considered, transparent and coordinated manner.”…

ADESA Auction Raises $26,000 for Canine Companions Wounded Veterans Initiative

The NADA Foundation’s Frank E. McCarthy Memorial Fund contributes a $10,000 grant

ORLANDO, Fla, (Feb. 11, 2013) – Auto industry consultant Joe Verde was the top bidder on a 2011 Harley-Davidson Fat Boy—auctioned at the NADA Convention and Expo on Feb. 10. The motorcycle was donated by ADESA, which runs vehicle auctions throughout North America.

Verde’s winning bid of $26,000 will benefit the Wounded Veterans Initiative of Canine Companions for Independence, a cause long supported by the nation’s new-car and -truck dealers.

“I’m a veteran. My dad was a veteran, and my son and grandkids are all veterans,” said Verde, president of Joe Verde Sales and Management Training in San Juan Capistrano, Calif. “I appreciate everything all the men and women in the armed forces do for all of us. We thank NADA for making the grant possible.”

This is second consecutive year ADESA has held a live auction at the NADA convention.

“Last year, we were excited by the opportunity to try something new and host a charity motorcycle auction in our booth at NADA,” said Tom Caruso, president and CEO of ADESA. “It was so much fun and so successful that we couldn’t pass up the opportunity to do it again this year. Thanks to the generosity and support of NADA attendees, ADESA has been able to raise more than $44,000 for the NADA Foundation and Canine Companions for Independence.”

Since 2002, the Frank E. McCarthy Memorial Fund of the National Automobile Dealers Charitable Foundation has contributed $190,000 to Canine Companions, placing 19 companion dogs with physically disabled children and military veterans. The NADA Foundation established the fund to honor McCarthy after his death in 2001.

“I know Frank would be thrilled with this,” said Pat McCarthy, referring to her late husband, who served as NADA president for more than three decades. “When you hear the children and veterans talking about how these dogs impact their lives, it makes it all worthwhile.”

“We want more dealers to get involved in supporting NADA’s fund for Canine Companions,” McCarthy added.

In addition, the NADA Foundation’s McCarthy Fund presented a $10,000 grant to the Wounded Veterans Initiative at the convention on Feb. 9.

“We’re pleased to provide this grant to the Wounded Veterans Initiative of Canine Companions,” said Annette Sykora, an NADA Foundation trustee. “It’s a wonderful tribute to Frank’s memory to give back to those who have served our country.”…

NADA University Adds FUEL to Dealer Training and Education with Launch of Private Social Network

McLEAN, Va. (Feb. 4, 2013) – NADA U FUEL, a private online community, is being launched by NADA University, the education and training arm of the National Automobile Dealers Association (NADA).

FUEL is exclusive to these eligible NADA and American Truck Dealer (ATD) members:

  • Academy Students and Alumni
  • 20 Group Members
  • NextGen ATD Members

The online community was created to enhance and expand the collaboration and idea-sharing that already exists among these groups.

FUEL 
provides community members with instant access to peer discussions, subject matter experts and the industry’s most comprehensive education and training materials offered by NADA University.

FUEL is the space to:

  • Exchange ideas and tips for doing business
  • Discuss trends in the marketplace
  • Resolve business problems
  • Give and get advice
  • Keep in touch

“The car business is constantly changing and dealers need help to keep up,” said Erica Rose, social media and website marketing, NADA University. “We are proud and excited to offer a new solution that will help dealers connect with one another and share ideas and approaches in real time. With FUEL, communication is immediate.”

FUEL allows members to build on leadership, performance, and management skills learned through their experience at NADA and ATD—taking communication and education to the next level.

With a variety of idea-sharing tools and privacy options, community members have complete control over their audiences. They can engage with members in all three groups or within a single one. The user is in charge of the ultimate personalized experience.

FUEL’s custom online platform is powered by DrivingSales, whose technology creates an individualized profile and view, displaying only the content that is relevant and useful to each user.

Eligible members may activate the FUEL profile or learn more about the private community at NADAuniversity.com or by calling (800) 557-6232.

About NADA University

NADA University, the education and training arm of the National Automobile Dealers Association (NADA) and American Truck Dealers (ATD), equips dealer members and automotive professionals to enhance business performance in a complex and ever-changing industry.

Leveraging the expert resources of NADA and ATD, NADA University encompasses four “automotive centers of excellence” that complement each other, including:

ACADEMY – Leadership development programs for current and future dealership operators and automotive entrepreneurs including general managers, controllers, successor candidates, and department managers. Academy is the industry’s gold standard for learning and leading dealership operations.

LEARNING HUB
 – Available through NADA University Online, this comprehensive suite of subscription programs trains automotive staff in key business functions focused on business management, legal compliance, customer relations, human resources, Internet and marketing, and fixed and variable operations. Employees and managers train at their convenience and pace.

20 GROUP – Consultant-led performance improvement fueled by a group of non-competing peers eager to share their experience and learn from yours. NADA 20 Groups are a cut above with the best-in-class online financial composite and programs tailored for executives and managers, including the all-new Internet Group with an industry-first Internet composite.

RESOURCE TOOLBOX 
– Valuable member benefits, including Driven management guide publications, MarketINSIGHT webinars, NADAPerks monthly tips and tools, Sanow’s Quick Tips monthly how-to’s for better communication, and key market data – all complimentary resources you’ll find only at NADA University Online. Annual Dealership Workforce Study Basic, Enhanced and Industry Reports are also accessible in the Training Center section for Dealer/Executives.

NADA University equips dealers and their teams to get results – with the right knowledge, information, coaching, and resources to develop both skills and confidence. Visit www.NADAUniversity.com for more details.…

2013 NADA Convention Press Conference Schedule

McLEAN, Va. (Jan. 17, 2013) — The NADA Convention and Expo, held in Orlando, Fla., runs Feb. 8-11. All press conferences will be held in rooms W312A and W312B at the Orange County Convention Center. Here’s the schedule:

Saturday, Feb. 9

NADA Industry Affairs
9:00 – 9:45 a.m.
Room W312B

Auto industry consultant Glenn Mercer will release the findings of NADA’s Phase 2 study on factory-mandated dealership renovation programs, which require new-car dealers to collectively invest billions of dollars. The new study analyzes the return-on-investment of these programs as well as what dealerships of the future will look like. Contact: David Hyatt, NADA vice president of public affairs, at (202) 281-4550 or dhyatt@nada.org.

NADA Industry Affairs
10:00 – 10:30 a.m.
Room W312A

Paul Taylor, chief economist of the National Automobile Dealers Association, will discuss the performance of the new-vehicle market and new-car dealerships as well as the state of the U.S. economy. Contact: Charles Cyrill, NADA public affairs, at (216) 870-8837 or ccyrill@nada.org.

NADA Used Car Guide
10:30 – 11 a.m.
Room W312A

Mike Stanton, vice president and chief operating officer of the NADA Used Car Guide, will highlight the company’s initiatives, and Jonathan Banks, executive automotive analyst with the NADA Used Car Guide, will discuss new- and used-vehicle market trends as well as how basic market fundamentals will affect used-vehicle prices in 2013. Contact: Charles Cyrill, NADA public affairs, at (216) 870-8837 or ccyrill@nada.org.

Manheim
11:00 – 11:45 a.m.
Room W312B

Manheim president Sandy Schwartz, Manheim senior vice president of product development Joe George and Manheim chief economist Tom Webb will share a business update, unveil new digital and mobile products and discuss findings from the 2013 Used Car Market Report. With dealers looking for more efficient and effective ways to conduct business, Manheim is responding with solutions that save them time and broaden their access to the Manheim Marketplace. Contact: Lois Rossi at (678) 557-8904 or Lois.Rossi@manheim.com.

ADESA
12:00 – 12:45 p.m.
Room W312A

Tim Zierden, senior vice president of dealer services for ADESA and OPENLANE, will announce the launch of next.ADESA.com, backed by industry technology leader, OPENLANE. With the integration of OPENLANE completed at all ADESA U.S. auction locations, the company now offers a single platform of the freshest online inventory in any venue. Zierden will also highlight enhanced vehicle search capabilities for buyers, real-time Black Book integration for vehicle values, integration of all vehicle history reports and first access to inventory from top consignors. The company will unveil enhancements to the AuctionTrac Dealer mobile app, the industry’s first vehicle location technology, and CarsArrive integrated transportation solutions at all U.S. auction locations. Contact: Darci Valentine at (317) 249-4414 or darci.valentine@adesa.com.

Experian Automotive
12:00 – 12:45 p.m.
Room W312B

Scott Waldron, president of Experian Automotive, will provide an in-depth analysis on the current state of the automotive marketplace, highlighting key areas including vehicles in operation, financial trends, shifts in market share and customer loyalty. This detailed analysis provides dealers with an integrated perspective into information and insights enabling them to gain the fullest possible understanding of the market, the vehicles and the people who buy them. Contact: Roslyn Whitehurst at (714) 830-5578 or roslyn.whitehurst@experian.com.

Compli
1:00 – 1:45 p.m.
Room W312A

Compli, a provider of HR and compliance management software, will debut Compli Portfolio. Portfolio represents a new way for companies to approach their Compliance Obligation Management responsibilities and simplify their regulatory reporting. Portfolio implements a host of tools that enable users to structure all of their compliance, and non-compliance needs within the system. New functionality includes dynamic workflows and robust reporting that allows for flexibility across an organization. Contact: Laurie Halter at (503) 245-3140 or laurie@charismacommunications.com.

Dominion Dealer Solutions
1:00 – 1:45 p.m.
Room W312B

Robert Berndt, president of Dominion Dealer Solutions, and other Dominion executives will introduce new advancements within its DMS technology, DominionDMX. The company, based in Norfolk, Va., will also unveil two DMS product integrations with exciting repercussions for both dealers and OEMs. Contact: Peyton Hoffman at (757) 351-7271 or peyton.hoffman@drivedominion.com.

Microsoft Cloud Services
2:00 – 2:45 p.m.
Room W312A

Kevin McMillen, CEO of Microsoft Cloud Services “MSCS,” will outline Microsoft’s multi-faceted role in the Auto Industry. As a subject matter expert in cloud computing and software as a service (SAAS), Kevin will present solutions to the challenges dealers face in operating a stable, compliant and protected business in today’s digital world. Statistics and comparisons of solution providers will be reviewed. MSCS’s new executive team will be introduced. Contact: Charlie Vogelheim at (866) 804-9040 x 4123 or charliev@mscloudservices.com.

ADP Dealer Services
2:00 – 2:45 p.m.
Room W312B

ADP Dealer Services will be providing an update on the recently announced innovations in the service and front-office areas of the dealership. Contact: Michelle Benko at (847) 485-4389 or michelle.benko@adp.com.

Sunday, Feb. 10

IFM North America, Inc.
10:00 – 10:45 a.m.
Room W312A

Richard Graham, CEO of IFM North America, will discuss Superservice, a cloud-based suite of software products designed for dealerships to track vehicle repair and maintenance as well as customer satisfaction. Contact: Kathy LaRosa at (313) 590-0185 or klarosa@ifmnorthamerica.com.

DealerPeak
10:00 – 10:45 a.m.
Room W312B

Robert Revere, chief sales officer of Dealer Peak, and Scott Lucas, director of ReachLocal Automotive, will announce how dealers in 2013 can both acquire more customers and maximize their brand exposure. Details will be discussed on how dealers can leverage a comprehensive suite of online marketing, website, desking and CRM solutions to achieve these results along with detailed return-on-investment. Contact: Robert Revere at (480) 582-0215 or rrevere@dealerpeak.com.

Digital Service Advisors
11:00 – 11:45 a.m.
Room W312A

Emanuel Jones will introduce the Digital Service Advisor (DSA), an all-new “no wait” customer greeting system hosted in a cloud environment that allows customers to login using kiosks, smart phones, tablets and personal computers. DSA is designed to create “a new paradigm in customer service.” Dealerships using this product will see improved customer relations, higher gross margins, improved efficiency, cost reductions and additional marketing opportunities. Contact: Mary Torrence at m.torrence@live.com.

NextUp
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