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December 13, 2016 - Industry News

Trust in Salespeople Top Painpoint for Consumers, DealerSocket Reports

Cutting transaction times was the No. 1 focus for franchised dealers in 2016, but it wasn't the top painpoint for car buyers, according to DealerSocket's 2016 Dealership Action Report.

Tags: Car-Buying Experience, DealerSocket, J.D. Power, Report, Survey, technology

August 25, 2016 - Industry News

Growing Student Debt Expected to Hurt Retailers, Moody's Warns

The largest share of outstanding student loans is held by graduates age 30 to 39, according to the firm. Many of these graduates belong to the millennial generation, which, according to Pew Research, have overtaken Baby Boomers as the nation’s largest living generation.

Tags: Moody's, Report, Retail Sales, Student Loan

August 18, 2016 - Industry News

CU Direct Network Grows Origination Volume 16.4% Through Q2

CU Direct's credit union network was the No. 3 auto loan originator in the first quarter. However, the network posted the highest year-over-year growth in auto originations.

Tags: Auto Loans, Credit Union, Delinquencies, Financing, leasing, Report

August 9, 2016 - Industry News

Black Book: Most Used-Vehicle Segments Show 'Slightly Better' Retention in July

The average price of a used vehicle for model years 2011-2015 depreciated 1.5%, slightly less than last month (1.7%) but slightly higher than a year ago (1.4%), according to Black Book.

Tags: Black Book, Report, Used Vehicle, Value Retention, Vehicle Value

July 12, 2016 - Industry News

Wholesale Used-Vehicle Prices Up in June, Manheim Reports

June wholesale used-vehicle prices reached their highest level in four years, rising for the third consecutive month, according to Manheim.

Tags: Manheim, Report, used vehicles, Wholesale Pricing

May 18, 2016 - Industry News

CFPB: 20% of Single-Payment Auto Title Loans End in Repossession

A report form the CFPB found that about 20% of auto title loan borrowers end up having their car or truck seized by the lender for failing to repay their debt. Eighty percent fall into a debt trap, with more than 66% having to take out seven or more consecutive loans to fully repay their debt.

Tags: CFPB, Payday Lending, Report, Title Loan

May 11, 2016 - Industry News

Q1 2016 Delinquency Rates Reach New Highs, TransUnion Reports

High delinquency rates for auto loans and credit cards in the first quarter pushed national average delinquency rates to levels not seen in at least three years, according to TransUnion. Much of the increase can be attributed to the continued slump in oil prices and an increase in loans made to customers with nonprime credit.

Tags: Auto Loan Delinquency Rate, Credit Cards, Report, TransUnion

April 27, 2016 - Industry News

Demand for Alternative Fuel Vehicles Dwindling

The percentage of alternative-fuel vehicles in the overall automotive market has dwindled over the last three years, the NADA Used Car Guide said this week. Hybrids continue to make up the majority of the alternative fuel market, but data does show consumers are beginning to shift toward electric vehicles in greater numbers.

Tags: Alternative Fuel, Electric Vehicle, Hybrid, Report, Vehicle Sales

March 5, 2015 - Industry News

Consumers Relying on Financing, Experian Reports

In 2014’s fourth quarter, the percentage of new vehicles purchased with financing increased over the previous year to reach 84%, according to Experian Automotive’s latest State of the Automotive Finance Market report.

Tags: auto finance, Experian, Experian Automotive, Finance, Report

February 18, 2015 - Industry News

Equifax Refutes ‘Subprime Bubble’ in New Report

A new analysis by Equifax economists shows the median consumer credit score increased by 52 points after taking out a subprime auto loan.

Tags: Credit, Equifax, Report, subprime

February 3, 2015 - Industry News

Black Book: Vehicle Depreciation to Rise in 2015

Vehicle depreciation is expected to increase in 2015 as a larger used-car supply and off-lease volumes place pressure on retention rates, according to a report from Black Book and Fitch Ratings.

Tags: Black Book, Fitch Ratings, Report, used-vehicle values, vehicle depreciation

September 25, 2014 - Industry News

CFPB Lacks Proper Data Security, Report Says

A report released by the United States Government Accountability Office this week found that the CFPB, which has collected information on up to 600 million financial accounts, has fallen short in its data-protection efforts.

Tags: CFPB, Consumer Financial Protection Bureau, data protection, Investigation, Report

August 26, 2014 - Industry News

Equifax Sees No Evidence of Subprime Auto Bubble

A monthly report from the firm shows that subprime auto lending has been fairly stable since 2012, and that originations have been shifting toward the higher end of the subprime credit-score spectrum, despite reports of an imminent ‘bubble’ in subprime lending.

Tags: Equifax, Report, subprime

August 26, 2014 - Industry News

U.S. Sales Per Store to Reach All-Time High, Urban Science Reports

The average number of sales per dealership in the United States is on track to hit an all-time record of 904 units based on vehicle sales of 16.2 million, according to a new report from Urban Science.

Tags: Report, Urban Science, Vehicle Sales

August 19, 2014 - Industry News

California on Track to Sell 1.8 million New Units in 2014

California continues to outpace national new-car sales growth, according to a report from the California New Car Dealers Association. The state’s sales are on track to approach 1.8 million new units.

Tags: California, California New Car Dealers Association, New Vehicles, Report

June 24, 2014 - Industry News

Dealership Buy/Sell Activity Jumps 60% in Q1

The Kerrigan Quarterly Blue Sky Report also finds that blue sky pricing remains high for most franchises, with the market having established a pricing floor.

Tags: BMW, First Quarter, Honda, Lexus, Mercedes-Benz, Porsche, Report, Toyota, Vehicle Sales

June 17, 2014 - Industry News

NADA Launches Initiative to Promote Benefits of Franchised Dealers

The “Get the Facts” initiative provides online materials demonstrating the benefits of franchised dealerships, which the association is encouraging dealers to share on their own websites.

Tags: Franchised Dealerships, NADA, National Automobile Dealers Association, Peter K. Welch, Report

January 21, 2014 - Industry News

CallSource to Study Dealer Call Management Successes

CallSource announced it will begin measuring call performance for dealers across the country. The company's new report will provide benchmarks for how dealers are doing compared to their competition. It will also rank dealers by their success in converting prospects into showroom visits.

Tags: automotive retail, Customer Relations, digital marketing, Report, web marketing

November 21, 2013 - Industry News

Calif. New-Vehicle Registrations Rise 13.8 Percent in Q3

New-vehicle registrations were up 13.8 percent in the third quarter vs. one year ago, the largest increase this year, according to the CNCDA.

Tags: California, CNCDA, New Vehicle Registrations, Report

November 14, 2013 - Industry News

Auto Loan Balances at All-Time High, Experian Automotive Reports

In the third quarter, outstanding balances on automotive loans reached $782.9 billion, up $103 billion from the third quarter 2012.

Tags: auto loan volume, Auto Loans, Delinquencies, Experian Automotive, market report, Report

November 14, 2013 - Industry News

Used-Car Prices Fall to Lowest Levels in Four Years, Edmunds Reports

Edmunds.com’s latest findings show used-car prices have fallen to their lowest level in four years. The company attributes the drop to consumers making a post-recession shift back to the new-car market.

Tags: car prices, Edmunds, Edmunds.com, Report, Used Cars

October 17, 2013 - Industry News

Don’t Neglect Mobile Strategies, Edmunds Warns Dealers

Edmunds.com anticipates mobile devices will become a bigger part of car-shopper behavior, and the company wants dealers to be ready.

Tags: Car Shopping, Edmunds, Edmunds.com, Internet Shopper, Mobile, Report

August 5, 2013 - Industry News

Edmunds.com: Used Sales Up for Franchised Dealers, Down Overall

Used-car sales are down for the first half of the year, but not within the franchise and CPO segments, Edmunds.com reveals.

Tags: 2013, automotive, Edmunds.com, Report, sales, Second Quarter, Used-Car Sales, vehicles

June 25, 2013 - Industry News

Big Summer Expected for New-Vehicle Sales, J.D. Power and LMC Predict

The automotive retail market is expected to close out the first half on a positive note, and the two market research firms believe the momentum should carry through the summer.

Tags: 2013, automotive, J.D. Power and Associates, June, LMC Automotive, Report, sales

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