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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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Thirty-year innovation and tech veteran Marianne Johnson has joined Cox Automotive as the company’s chief product officer. She will lead a team developing products across a family of 20-plus brands.
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Mercedes-Benz customers can choose between Signature, Reserve, and Premier, with the automaker’s three-tier subscription program costing subscribers between $1,095 and $2,995 per month. Jeep Wave will also offer subscribers three tiers from which to choose. Pricing has yet to be released.
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Joe Oliveri, a 20-year industry veteran, was named vice president of KAR's Autoniq business unit, which provides mobile and digital vehicle pricing and evaluation reports.
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May's average transaction price for light vehicles rose by a healthy 3%, even as new-vehicle demand is expected to falter in 2018, according to the vehicle information site.
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The automaker's chief executive told investors today that the company will establish its own captive finance company by 2022. One option being considered is the purchase of Chrysler Capital from Santander Consumer USA, which is five years into the 10-year preferred financing agreement it signed with FCA in 2013.
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The company's executive leadership, including outgoing chief executive Sergio Marchionne, outlined the new investments during a June 1 investors meeting. Marchionne presented a five-year plan for the company, even though he has said he will retire in 2019.
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Following the announced closing of its acquisition of The Warranty Group, Assurant announced new leaders for its global automotive business.
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F&I tracks the rise and fall of the Consumer Financial Protection Bureau’s aggressive but ultimately futile five-year assault on dealer participation.
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The dream of owning a new vehicle is becoming more elusive for the average American consumer, with the average amount financed and monthly payment for a new vehicle climbing to record highs of $31,455 and $523, respectively.
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Lauren Wolfe, a more than 15-year digital-marketing specialist, will spearhead growth on the West Coast as the digital retailing provider’s new senior director of consumer experience.
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