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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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Depreciation increased for both cars and light trucks, with car segments recording the highest weekly depreciation in seven weeks. Prices in the Houston-area, however, remain elevated, according to the firm.
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‘Like I See It’ has already achieved best-seller status based on preorder sales. The book devotes chapters to margin compression, increased OEM control and financial reliance of their dealer partners, technology disruption and consumer preferences for digital retailing.
Read More →The fintech firm named Chuck Schofield vice president of dealer sales. The new executive previously served as a regional senior manager for Mercedes–Benz Financial Services. He now joins AutoGravity cofounder Aleks Bogoeski in expanding the firm's dealer network development program.
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The Manheim Used Vehicle Value Index reached a record high in September for the fifth consecutive month, while the SAAR rose to its highest September reading in three decades. The main driver was replacement demand caused by hurricanes Harvey and Irma.
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Finance teams of the future will be staffed with professionals whose goals align with those of the dealer and whose jobs are supported — not replaced — by new and emerging technology.
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The auto finance market is a trillion-dollar industry. It’s also very much a prime market, with subprime financing remaining at near-record lows in the second quarter.
Read More →Fastlane offers dealers an Amazon-like checkout process for consumers who want to buy their car online. It has chosen Market Scan to provide its ecommerce platform with real-time payment and rebate information from every car manufacturer, bank and credit union in the country.
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ICC’s Command Center software enables CU Direct to more easily manage the 2.5 million vehicles in dealer partner inventory on the AutoSMART platform and shopping site.
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Top trainer lists four ways to build an interdepartmental culture that rewards customers while maximizing the opportunity for F&I product sales.
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Once the king of the car-buying process, dealers are under attack in today’s Digital Age. Industry insiders believe auto finance sources hold the key to restoring order.
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