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July Was Hot for Auto Borrowers
Credit proved readily available for many, but most loans left buyers in negative territory, Cox Automotive said.
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SEARCHMENUSEARCHCredit proved readily available for many, but most loans left buyers in negative territory, Cox Automotive said.
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Seasonally adjusted Retention Index down to 193.0 points in February of 2022 as questions about the strength of the upcoming Spring market remain.
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AutoPayPlus, an automated loan payment service provider, will be Alviere’s first automotive industry client.
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Wholesale market declines continued last week, but the pace is starting to slow down.
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New-vehicle sales volume has been averaging just over 1.05 million each month since last August, and this February is not expected to buck the trend.
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Alternative fuel vehicles now represent nearly 16% of new vehicle financing; banks originated more than 55% of new alternative fuel vehicle loans.
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Volkswagen and its top shareholder have prepared a preliminary agreement to list Porsche to boost the parent company's valuation and fund its push into EVs.
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The Estimated Average Weekly Sales Rate has dropped to 61% this week, after a few weeks at 62%. This is not surprising as wholesale buyers try to anticipate consumer sentiment and wholesale seller behavior.
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Recent media coverage about rising new-vehicle prices fails to account for unprecedented market conditions in the retail auto market.
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In the most recent Auto Market Report video, Cox Automotive Chief Economist Jonathan Smoke notes that 2022 has started slower for the U.S. economy and for vehicle sales.
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The rate of week-over-week declines has accelerated, exceeding the typical seasonal expectations for this time of year.
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