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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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RouteOne officials said the availability of finance sources like Exeter has led to notable growth in the tech firm’s noncaptive econtracting share, which has more than doubled every year since 2014.
Read More →New-vehicle transaction prices are being driven higher by the shifting sales mix away from cars. Ford’s strong mix of F-Series Super Duty sales for the month helped drive up the automaker’s average transaction price by nearly 3%.
Read More →Sen. Chris Dodd and former Rep. Barney Frank say the CFPB-creating law bearing their names does not fall under the purview of the Federal Vacancies Reform Act. They joined other Democrats and activists last week in announcing plans to challenge a federal judge's ruling that denied a CFPB official's attempt to block President Trump’s interim director appointee.
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Volvo Cars used this week’s AutoMobility LA and the Los Angeles Auto Show to debut its 2019 XC40 and a new subscription service for its new compact SUV.
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A federal judge refused to block the appointment of Mick Mulvaney as interim director of the Consumer Financial Protection Bureau, but the Trump administration’s victory may only be temporary.
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The bank’s announcement comes seven months after it rolled out a new strategy designed to increase earnings predictability. The company’s chief executive said the bank’s decision was based on a less favorable financial outlook for the indirect auto origination business.
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Staffers with the CFPB returned from the Thanksgiving break on Monday to two acting directors, a lawsuit, dueling emails, and a bag of doughnuts.
Read More →ADG has named Dan Hahn as director of training for fixed operations and David Kelly as director of training for variable operations.
Read More →For the fourth consecutive quarter, auto loan originations in the second quarter decreased on a year-over-year basis. Much of that decline was driven a 5.9% decrease in subprime, nearprime, and prime loan originations.
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Drive Motors’ Aaron Krane predicted that, for 2018, dealerships that embrace digital dealmaking will become known as the ecommerce hubs of their regions, a move that will end up pressuring manufactures to sell their cars directly online as well.
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