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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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F&I Showroom Magazine
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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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With cars expected to make up only 31% of July sales, the industry's average transaction price climbed by $985 from a year ago to $35,359.
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According to the regulator, this was the FTC’s first action alleging income falsification by dealerships. Charged are the owners of Tate’s Auto Group, which operates four dealerships in Arizona and New Mexico, near the border of the Navajo Nation.
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Edmunds reports loan interest rates sustained near-record highs in July as automakers make the shift away from traditional summertime financing deals.
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Bob Harkins will serve double duty at this year’s Industry Summit, serving as master of ceremonies for Compliance Summit and P&A Leadership Summit.
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The advisory board for the sixth annual P&A Leadership Summit includes executives from leading F&I product providers and administrators.
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Capital One announced gains in its auto finance division even as directors acknowledged increasing competition in the subprime space.
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Wells Fargo's continued runoff of its auto loan portfolio resulted in a $10.3 billion year-over-year decline in auto loan balances in the second quarter, but executives said the bank is positioned to begin growing its auto finance business once again.
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Fiat Chrysler Automobiles has named Ram truck and Jeep head Michael Manley as its chief executive officer, after medical complications forced Sergio Marchionne to step away from the company.
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Co-founded by Dealer.com founder Mike Lane, Fluency is a business-to-business ad platform provider for industry-focused digital advertising and marketing agencies.
Read More →Peter Jacobson, formerly with Toyota Financial Services, has joined Portfolio as a reinsurance specialist.
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