E-NEWSLETTER

Edmunds.com estimated that the average new car incentive in the U.S. was $2,681 per vehicle sold in August 2010, down $84, or 3 percent, from July 2010, and up $225, or 9.2 percent, from August 2009.

Tags: Cash for Clunkers prgoram, manufacturer incentives

Fueled by a 1.6 percent increase in vehicle sales in July, the segment that accounts for up to 70 percent of the nation’s economic activity jumped out to its fastest pace in four months.

Tags: fleet sales, NADA Used Car Guide, new vehicle sales, used vehicle sales

The performance of U.S. auto loan ABS is starting to exhibit seasonal negative trends, according to the auto loan ABS indices results from Fitch Ratings.

Tags: auto ABS, delinquencies, Fitch Ratings, prime, subprime

The latest “Residual Value Report” from DealerTrack subsidiary ALG anticipates “healthy growth” for domestic and import brands in the United States over the next two years, with new vehicles and redesigned standbys helping the Detroit Three stay competitive.

Tags: Chrysler, Ford, General Motors, residual values

Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reported an aggregate profit of $21.6 billion in the second quarter of 2010, a $26 billion improvement from the $4.4 billion net loss the industry posted in the second quarter of 2009.

Tags: charge-offs, FDIC, loan-loss provisions, loan-loss reserves

Automotive loan delinquencies dropped during the second quarter this year, marking the second consecutive quarter with a year-over-year decrease in quarterly delinquencies, according to Experian Automotive.

Tags: 60-day delinquencies, average amount financed, average credit score, deep subprime, delinquencies, Experian Automotive, nonprime, subprime

Chrysler Group LLC hosted Monday about 400 Chrysler Group dealers to outline the requirements to become a Fiat dealer in the United States.

Tags: Chrysler, Fiat

The national 60-day auto delinquency rate fell 19.7 percent between the first and second quarters of 2010 to 0.53 percent, according to a TransUnion quarterly analysis of auto finance trends.

Tags: 60-day delinquencies, TransUnion

Resource Automotive Inc., a training, consulting and financial services provider and a unit of The Warranty Group Inc., has launched TWGConnect, an online warranty claims system for its vehicle service contract, GAP, pre-paid maintenance and tire-and-wheel programs.

Tags: GAP, pre-paid maintenance, Resource Automotive, tire and wheel, VEHICLE SERVICE CONTRACT, warranty claims system

Warranty Inspection Services (WIS), a provider of mechanical breakdown inspection services to the vehicle service contract industry, has partnered with F&I Administration Solutions, a provider of F&I product administration software.

Tags: VEHICLE SERVICE CONTRACT

This month's new-vehicle sales (including fleet sales) are expected to be 1,028,200 units, a 17.7 percent decrease from August 2009 and a 1.4 percent decrease from July 2010, according to Edmunds.com.

Tags: Cash for Clunkers program, Chrysler, Edmunds.com, Ford, GM, Honda, monthly sales, Nissan, Toyota

Toyota and Nissan surpassed the industry’s 6.8 percent increase in month-over-month sales in July, which CNW Research attributed to heavy promotions of lease deals and used-car trade-in programs by both automakers.

Tags: CNW Research, manufacturer incentives, monthly sales

Independent dealers are expected to drive the used-car market to a 4.7 percent increase in sales in August, according to CNW Research.

Tags: CNW Research, franchised dealers, independent dealers, used vehicle sales

Recent actions by a government agency, which were reported by USA Today over the weekend, could mean the $3 billion Cash for Clunker’s program is entering the enforcement phase.

Tags: Cash for Clunkers program, NHTSA

BlueSky Marketing Group, a marketing and leads provider, has partnered with Auto Funding Services, a nonprime auto finance lender, and integrated its Real Leads program with AFS.

Tags: BlueSky Marketing Group, lead generation, nonprime finance

The arrival of 2010 model-year vehicles at auction has put downward pressure on late-model luxury vehicles, according to this month’s Blue Book Market Report from Kelley Blue Book.

Tags: auction, Kelley Blue Book, luxury vehicles, used vehicle sales

Warranty Inspection Services LLC, a provider of mechanical breakdown inspection services to the vehicle service contract industry, introduced VeriScan, a tool designed to increase the accuracy, timeliness and thoroughness of mechanical breakdown inspection reports.

Tags: vehicle inspection, vehicle warranties

The National Automobile Dealers Association (NADA) will co-sponsor the third annual Dealer Day Conference at the Specialty Equipment Market Association’s (SEMA) 2010 convention at the Las Vegas Hilton.

Tags: accessories department, NADA, NADA University, National Independent Automobile Dealers Associatio, SEMA

Monthly default rates for auto loans and second mortgages have increased through July, while rates decreased for first mortgages and bank car loans, according to new data released today by Standard & Poor’s and Experian.

Tags: auto defaults, loan defaults

Resource Automotive Inc., a training, consulting and financial services provider and a unit of The Warranty Group Inc., today announced an agreement with the Mopar division of Chrysler Group LLC to provide dealers with wholesale mechanical parts training and support.

Tags: Chrysler, Mopar, Resource Automotive, service department, The Warranty Group

The recession’s effects on the industry last year wasn’t lost on F&I, according to the National Automobile Dealers Association’s DATA report, which showed declines in aftermarket income, F&I and service-contract acceptance rates.

Tags: aftermarket income, F&I acceptance rates, NADA, service contract acceptance rates

Wells Fargo Preferred Capital, a subsidiary of Wells Fargo & Company, has increased its revolving credit facility from $240 million for one year to $365 million for three years to Westlake Financial Services.

Tags: credit facility, WELLS FARGO, Westlake Financial Services

Capital One Auto Finance increased originations by more than 31 percent from the first quarter of 2010, according to the company’s second-quarter financial report. Total originations now account for more than $1.8 billion in loans for the full-spectrum lender.

Tags: Capital One Auto Finance, originations