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Automotive Consumers Sink Further in Debt
Most financing metrics hit records in the second quarter as more buyers locked themselves into long terms and high monthly payments.
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SEARCHMENUSEARCHMost financing metrics hit records in the second quarter as more buyers locked themselves into long terms and high monthly payments.
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New tax law and economies of scale help publics and consolidators buck trends to grow earnings and fuel the buy/sell market to 92% growth in the second quarter. According to the firm, the market is on track for a fifth consecutive year of more than 200 acquisitions.
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Through July, J.D. Power’s Adjusted Used Vehicle Price Index stood at 119.3, which is 4.7 percentage points higher than the year-ago period. The firm said used-vehicle prices began showing strength in the middle half of 2017, a trend that continued deep into this year’s summer selling season.
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Despite the decline, the trade group expects the California market will end the year with around 2 million new-vehicle registrations. That would be a slight decline from the 2.05 million registrations the market recorded in 2017, providing further proof the market has plateaued after several years of big increases.
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Retail expert and industry veteran Joseph Najar brings 25 years of technology and retail automotive experience to his new role as a reinsurance specialist at Portfolio.
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The U.S. Senate Banking Committee narrowly approved the nomination of Kathy Kraninger to head the Bureau of Consumer Financial Protection. The vote sends her nomination to the full Senate for consideration.
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The overall used-vehicle market continues to do very well, bucking the seasonal trends seen in previous years, Black Book reported this week.
Read More →StoneEagle’s SEcureAdmin platform will power Toyota Financial Services’ iBook erating portal for North American auto dealers.
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Dealership employees, general agents, vendors, finance sources, and F&I product providers are encouraged to nominate their stores and dealer clients for F&I and Showroom's F&I Dealer of the Year award, sponsored by American Financial & Automotive Services Inc.
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US Equity Advantage has added Greg Leonard to its leadership team, naming the veteran executive as CFO.
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Rick McCormick of Reahard & Associates will serve as master of ceremonies for Industry Summit 2018 this October in Orlando, Fla.
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