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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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Thanks to a rocky start in global financial markets and uncertainty regarding future interest rate hikes, Americans believe there is a 36% chance the U.S. economy will slip into a recession this year, a new survey shows.
Read More →The average transaction price for a new car rose 2.2% to $33,781 in February, Kelley Blue Book reported today. The vehicle information site also noted that incentive spending is nearing pre-recession levels, as vehicle OEMs look to offset rising prices.
Read More →Dealertrack's new web-based registration and titling solution is equipped with new features designed to streamline the registration and titling process for California dealers.
Read More →The former director of dealer enterprise relationships for Equifax joins the firm as vice president of credit service for the North American market, a role in which he'll oversee CreditMiner's automotive vertical.
Read More →Record-high used-car sales, strong gross profit growth in fixed ops, and a healthy F&I department helped Sonic Automotive offset new-vehicle pricing pressure in the fourth quarter 2015.
Read More →Automotive dealers sold 38.3 million used vehicles in 2015, the highest single-year total since 2007. And they did so despite the price of an average used car rising 4.6% to $18,600.
Read More →The captive is piloting a new program in Austin, Texas, that will allow a group of three to six people to lease a Ford Vehicle. The program includes a mobile app that allows participants to schedule drive times, make payments and keep up with vehicle maintenance.
Read More →General Motors responded on Friday to legal concerns raised in a Feb. 8 letter from the California New Car Dealers Association. The automaker said it is not infringing on its dealers' used-vehicle operations, adding that projected sales from its Factory Pre-Owned Collection program will represent 'roughly 1% or less of current used retail volume our dealer network sells.'
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Celebrated F&I trainers Luis Garcia, Gerry Gould and Rick McCormick will join forces at F&I Think Tank to lead Shark Tank, a 20 Group-like session that will allow attendees to get answers to troublesome customer objections, deal situations and departmental issues.
Read More →The NADA Used Car Guide's used-vehicle price index slipped 0.3% in January, with sales volume coming in 4% lower than the same period last year.
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