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Black Book’s latest Used Vehicle Retention Index report shows retained values for light trucks declined at a faster rate than many car segments.
Ten-year auto finance veteran Scott Maybee has been named president of NextGear Capital after serving as general manager of Manheim Northstar Minnesota.
Wary of unmanageable monthly payments, the American car buyer’s attention is increasingly shifting toward used vehicles, leases, and longer terms as the cost to buy a new car or truck continues to climb.
Kelley Blue Book analysts say the average new vehicle transaction climbed to $38,259 in October, a slight decline from the prior month but 2.9% higher than a year ago.
The Federal Reserve has announced its third interest rate reduction since July, this time excluding language committing the central bank to action in support of economic expansion.
Mini Financial Services has launched Flipped Financing, a new captive finance option billed as a simplified, low-pressure, single-rate approach for dealers, finance managers, and customers.
Black Book reports used vehicle values fell by 1% in September, led by declines in the compact van and luxury car categories. Only one segment showed improvement.
Ford Motor Credit has launched Ford Insure, a new program underwritten by Nationwide and designed to offer car buyers auto insurance at rates discounted by as much as 40%.
Dealertrack announced the integration of its proprietary electronic contracting solution with Dealertrack uniFI, promising a paperless lead-to-contract workflow facilitated by a single platform.
NADA Chairman Charlie Gilchrist voiced his support for the United States-Mexico-Canada Agreement in remarks at a press event. The Texas dealer urged Congress not to ignore the ‘reality’ of an auto industry built on favorable relationships among the three nations.
Mark Sargeant has been promoted from vice president of business development and marketing to CEO of AutoMap LLC.
‘Market strength is waning’ for used vehicles after a strong summer, a trend that is likely to continue through the end of the year, according to the latest report from Black Book.
The Experian Automotive Intelligence Engine was designed to offer auto dealers new data and analytical capabilities designed to find in-market car buyers within a 15-mile radius.
U.S. sales of new cars and light trucks fell 12% year-over-year in September, suppressed in part by a Labor Day weekend allotted to August. Few were spared the sting, with all six of America’s and Japan’s biggest factories reporting double-digit declines.
The U.S. Department of Justice has charged a Maryland dealership with offering different credit terms to different customers based on race, an allegation backed by reports from African American and white testers.
Experian’s Q4 auto finance report lists America’s top 10 lease vehicles by market share, including one domestic SUV that captured nearly 4% of all new leases at the end of 2018.
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