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Interest Rates Further Squeeze Auto Consumers
Last month’s hike and a potential second increase this month add to a growing list of inflation woes that could continue to dent overall car sales.
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SEARCHMENUSEARCHLast month’s hike and a potential second increase this month add to a growing list of inflation woes that could continue to dent overall car sales.
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Bank of America is piloting new enhancements to its mobile banking technology that will allow clients to complete the auto financing process directly with the bank on a mobile device.
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The award is designed to recognize an individual who has made the most noteworthy contribution to the auto finance industry in the last two years. Judges described White Clark CEO Brendan Gleeson as a “visionary for the motor finance industry.”
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If the firm's forecast is realized, May's new-vehicle sales total would best April by 7% but would be flat with a year ago. The vehicle information site also believes retail sales will account for 80.5% of volume.
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Michigan's U.S. senators are backing a proposal that would allow automakers to apply credits for model years as far back as 2009 to help them meet future standards to require their car and truck fleets to average 41 miles per gallon by 2021, reports the Detroit News.
Read More →An Orange County Superior Court Jury sided with a former Nissan dealer who claimed the automaker’s captive financing arm forced him out of business during the Great Recession, awarding him $121.9 million in compensatory damages and $134.6 million in punitive damages.
Read More →Through a partnership with eOriginal, Westlake Financial has digitally transformed its dealership management system into an econtrating solution for its network of more than 20,000 new- and used-car dealers.
Read More →America’s 9,600 international nameplate dealers reinforced their opposition to a border adjustment tax that say will cost U.S. consumers $34.6 billion or about $2,000 per vehicle.
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The business consulting firm recognized AutoGravity for transforming the automotive finance industry with its 'first-of-its-kind fintech platform.'
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Trace Thaxton will be responsible for overseeing the company's claims, operations, and reinsurance departments. He previously served as the head of customer care and relations for AGIA Affinity's Scottsdale division.
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More than a year after being hired to lead the automaker's ‘Smart Mobility’ innovation unit, Jim Hackett was named Ford’s CEO and president. He replaces Mark Fields, who ends his three-year tenure at the helm of Ford Motor Co.
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