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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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Tesla’s Model Y could overtake BMW as the top-selling luxury model when its plant opens in Texas.
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The auto retailer reports sales jumped 34% in the fourth quarter and soared 51% for the year.
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Tight supply and lower production helps the companies sell vehicles with fewer financial incentives than they traditionally offer.
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First of several benefits planned in 2022 to further independent dealer goals, needs.
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The Mid-Size Car segment had the largest decline last week, at -0.76%, compared with the prior week’s decline of -0.64%, marking the third consecutive week the segment has reported the largest segment decline.
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In 2021, the company installed a limited distribution of financing kiosks in dealer showrooms, giving customers the ability to apply for a recreational loan in under five minutes and without ever leaving the dealer’s lot.
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With consumer credit performance maintaining healthy levels across auto, credit card, personal loans and mortgages, lenders continued to ramp up new account origination growth in the non-prime segment of the market near the end of 2021.
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The seasonally adjusted Retention Index moved up by 0.6% – the lowest rate of increase since July – reaching 197.0 points during the first month of 2022.
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GM reported a net profit of $10 billion for 2021 and reported full-year pretax rose 47% to hit a record $14.3 billion.
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Global sales in 2021 were the second-highest annual result for Lexus. The brand’s all-time sales record of 765,330 units came in 2019 before the pandemic.
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