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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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F&I Showroom Magazine
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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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ACV Auctions named Michael Waterman vice president of sales. He will be charged with helping the company grow its mobile-enabled live auctions.
Read More →Asbury Automotive COO David Hult called the group's F&I performance in the third quarter a "small setback" compared to previous quarters, noting that he remains hopeful for the coming quarter.
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Total auto loan balances in the third quarter grew 9% from a year ago to $1.1 trillion, with subprime balances leading the way, TransUnion reported on Monday.
Read More →Ally CEO Jeffrey Brown acknowledged the finance source missed analysts’ expectations in the third quarter, but said the finance sources feels even more ‘bullish about the upside potential that exists’ ahead. He was referring to the company’s acquisition of an online auto lender exchange that will help it build a direct-to-consumer option.
Read More →Both the car and truck segments experienced an overall reduction in depreciation during the week of Oct. 28, with car and truck wholesale values decreasing by 0.53% and 0.58%, respectively, vs. 0.76% and 0.80% the previous week..
Read More →Wholesale used-vehicle prices declined 0.7% in October, according to Manheim. Non-seasonally adjusted prices declined 2%, with the Manheim Used Vehicle Value Index increasing 0.6% from a year ago to 126.0.
Read More →The magazine's compliance pro believes the FTC may soon take a page out of the CFPB's playbook when it comes to regulating dealers. He explains how dealers can get prepared.
Read More →Customers who bought cars from Hooman Toyota of Long Beach are angry after losing the perks of an offer they paid into following the dealership's change of ownership, NBC 4 News reports.
Read More →The average price of a used vehicle for model years 2011-2015 depreciated 2.9% in October, a noticeable change from September's 2.3% depreciation rate, according to Black Book.
Read More →F&I, used retail sales, and fixed ops helped dampen Sonic's third quarter declines in volume and gross profit per unit (GPU) retailed. The group also reported that its EchoPark locations increased their F&I per-copy average by 16.3% to $1,078. Overall, the group's F&I operations averaged $1,341 per copy during the period.
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