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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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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.
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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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Depreciation through the first half of 2018 stood at 13.7%, much lower than the 16.3% rate recorded in the year-ago period. Analysts say upstream remarketing has kept values strong despite the tidal wave of off-lease vehicles that returned to market during the period.
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June’s ‘abnormal bounce” in used-vehicle values continued in July, resulting in the Manheim Used Vehicle Value Index rising to 136.9.
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