E-NEWSLETTER

About 8 million fewer used cars and trucks entered the U.S. market over the past two years, resulting in higher used-vehicle prices every month in 2009, according to the latest AuctionNet data of wholesale transaction prices.

Tags: Cash for Clunkers program, NADA, used-vehicle market, wholesale prices

Economic conditions are improving, although modestly, the Federal Reserve said in its Beige Book report on the economy. The report, a collection of comments received from businesses and other sources in 12 federal regions, also showed improvement in auto sales.

Tags: auto sales, Cash for Clunkers program, Federal Reserve

Consumer credit patterns returned to their status quo in September, with interest rates, loan terms and loan-to-value ratios reverting to their pre-Cash for Clunkers (C4C) levels, according to the Federal Reserve’s monthly report.

Tags: amount financed, Cash for Clunkers program, Federal Reserve, interest rate, loan terms, loan-to-value

The purchase and financing of an average-priced new vehicle took 21.9 weeks of median family income in the third quarter 2009, according to Comerica Bank's Auto Affordability Index.

Tags: Cash for Clunkers program, Comerica Bank, new-vehicle cost

GMAC Financial Services reported a third quarter 2009 net loss of $767 million, an improvement from the net loss of $2.5 billion in the year-ago period.

Tags: 30-day delinquencies, Cash for Clunkers program, credit losses, GMAC Financial Services, originations

While saying the credit markets and the economy still face hurdles, the National Association of Credit Management (NACM) reported that its October Credit Managers Index (CMI) broke into expansion territory for the first time in over a year.

Tags: Cash for Clunkers program, Federal Reserve, National Association of Credit Management

After a thorough review of the Cash for Clunkers program, the chief economist of the National Automobile Dealers Association (NADA), Paul Taylor, determined that the cost of each incremental vehicle sold was around $4,587.

Tags: Cash for Clunkers program, Edmunds.com, NADA

Fueled by double-digit revenue growth in seven of its business segments, including auto financing, Wells Fargo & Co. reported its third straight quarter of record earnings last week despite mounting loan losses and decreases in its mortgage originations.

Tags: 30-day delinquencies, Cash for Clunkers program, originations, WELLS FARGO

Driven mainly by its investment banking division, which offset losses on credit cards and consumer loans, JP Morgan Chase reported strong earnings for the third quarter 2009. As for its auto finance segment, originations were up 82 percent.

Tags: auto loans, Cash for Clunkers program, JP Morgan Chase

The “Cash for Clunkers” program temporarily boosted new-vehicle sales, while compact car values rebounded in late August and continued to climb in September, according to the latest Kelley Blue Book (KBB) Monthly Market Report.

Tags: Cash for Clunkers program, Kelley Blue Book, new-vehicle sales, used-vehicle values

Evidence of the Cash for Clunkers (C4C) program’s impact on consumer credit were revealed in the Federal Reserve’s August report, which showed marked declines in loan-to-value ratios and the amount financed.

Tags: amount financed, Cash for Clunkers program, interest rates, loan-to-value ratio

September new-vehicle retail sales are expected to come in at 590,000 units, down 24 percent from the year-ago period, and represents a seasonally adjusted annualized rate (SAAR) of 7.5 million units, according to J.D. Power and Associates.

Tags: Cash for Clunkers program, J.D. Power and Associates

While the Cash for Clunkers (C4C) program did wonders to the dealer psyche, at least one market research firm sees some troubling signs in its aftermath.

Tags: Cash for Clunkers program, CNW, FICO score

The automotive loan asset-backed securities (ABS) market is slowly rebounding with the help of the federal Cash for Clunkers (C4C) program, which created an uptick in the new vehicles sales volume, said ratings firm DBRS.

Tags: auto ABS market, Cash for Clunkers program

The success of “Cash for Clunkers” in August created one of the biggest aberrations in the auto industry’s sales history, leading Edmunds.com analysts to predict September’s seasonally adjusted annual rate (SAAR) of 8.8 million.

Tags: Cash for Clunkers program, Edmunds.com, new-vehicle transaction prices, SAAR

After four straight months of declines, retail sales rebounded in August, but not just because of the federal Cash for Clunkers (C4C) program.

Tags: Cash for Clunkers program, motor vehicle sales

Edmunds.com estimated that the average automotive manufacturer incentive in the U.S. was $2,475 per vehicle sold in August 2009, down $231, or 8.5 percent, from July 2009, and down $327, or 11.7 percent, from August 2008.

Tags: Cash for Clunkers program, Edmunds.com, incentives

The Car Allowance Rebate System (CARS) ended Aug. 25 with nearly 700,000 in car sales and rebate applications worth $2.8 billion, according to the U.S. Department of Transportation.

Tags: Cash for Clunkers program

Mazda North American Operations (MNAO) will issue nearly $20 million worth of advanced payments to its dealers to cover the credits earned during the federal government's “Cash for Clunkers” program.

Tags: Cash for Clunkers program, Mazda

The federal government will end the “Cash for Clunkers” program on Monday, August 24 at 8 p.m. EDT.

Tags: Cash for Clunkers program

General Motors said today that it will begin providing cash advances to cover its dealers' Cash for Clunkers rebates until they are reimbursed by the government.

Tags: Cash for Clunkers program, General Motors

Many New York franchised, new-car dealers are in talks to end the ‘Cash for Clunkers’ program over concerns the federal government is not approving transactions and reimbursing dealers in a timely manner, according to the Greater New York Automobile Dealers Association (GNYADA), an organization which represents 450 franchised new car dealerships in metro New York.

Tags: Cash for Clunkers program

The rush of automotive sales activity brought on by the "Cash for Clunkers" program is fading fast, according to Edmunds.com, whose latest study of car buyer behavior indicates that automotive purchase intent is down 31 percent from its peak in late July.

Tags: Cash for Clunkers program, Edmunds.com

Not only did Cash for Clunkers pull consumers in their prime new-car buying years into showrooms, but it also got lenders into the action as well.

Tags: Cash for Clunkers program, FICO score

Nearly three weeks after its initial launch, consumer interest in the government-funded “Car Allowance Rebate System” has already declined by 15 percent, according to purchase intent data from Edmunds.com.

Tags: Car Allowance Rebate System, Cash for Clunkers program, Edmunds.com