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Fed Cuts Interest Rates Again, Stock Market Responds

Fed Cuts Interest Rates Again, Stock Market Responds

Stock are on the rise following the second quarter-point reduction to the federal funds rate in less than two months. No further cuts are planned for this year or next, guaranteeing further pressure from the White House.

September 19, 2019

World’s First Carbon-Neutral Dealership Changes Hands

World’s First Carbon-Neutral Dealership Changes Hands

Motorcars Honda of Cleveland Heights has been purchased and renamed by the nine-store Foundation Automotive group. The Ohio store was recognized by BP as the world’s first carbon-neutral auto dealership in 2016.

September 18, 2019

Generali Targets Specialty Insurance Market With New Division
Former Porsche Salesman Pleads Guilty to $3M Fraud

Former Porsche Salesman Pleads Guilty to $3M Fraud

Shiraaz Sookralli faces 20 years in prison after admitting to charges of fraud and embezzlement relating to a multimillion-dollar scheme to sell nonexistent Porsches from a South Florida dealership.

September 17, 2019

Cox: Franchised, Independent Dealers See Two Different Markets
Used-Vehicle Volumes Up 4.1% Among Privately Owned Dealers
Subprime Fell to Lowest Share Since 2011 in April

Subprime Fell to Lowest Share Since 2011 in April

An Equifax review of auto finance data from the first four months of 2019 found subprime’s percentage of total originations fell to 22.7% for all purchases and 9.2% of new-vehicle leases.

September 12, 2019

Escalating Finance Costs Drive 24% Spike in TCO

Escalating Finance Costs Drive 24% Spike in TCO

AAA analysts say bigger price tags and higher interest rates have conspired to raise American new-car buyers’ average annual total cost of ownership to $9,282, an all-time high and a 24% year-over-year increase.

September 12, 2019

Pace of Dealership Acquisitions Slows in Q2

Pace of Dealership Acquisitions Slows in Q2

Kerrigan Advisors’ latest Blue Sky buy/sell report counts 49 transactions in the second quarter, a slight decline from Q1 but enough to maintain a 200-plus-transaction pace for 2019.

September 11, 2019

Rooney Joins Hudco as Partner in DC Office

Rooney Joins Hudco as Partner in DC Office

Mark E. Rooney, an attorney whose practice focuses on consumer litigation defense and government investigations in the financial services industry, has joined the Washington, D.C., office of Hudson Cook LLP.

September 9, 2019

NADA Mounts Opposition to Enhanced Safeguards Rule

NADA Mounts Opposition to Enhanced Safeguards Rule

National Automobile Dealers Association officials have told the FTC that proposed new provisions to the Safeguards Rule may be unnecessary and could cost smaller dealers more than $400,000 in the first calendar year of enforcement.

September 9, 2019

SAAR Fails to Crack 17M Despite Record August Sales

SAAR Fails to Crack 17M Despite Record August Sales

U.S. sales of new cars and light trucks fell 1.2% year-over-year in August, a sales month that extended through the Labor Day weekend and set new records for Honda, Toyota, and Subaru.

September 5, 2019

Prime Buyers Flock to Used Vehicles in Q2 Report

Prime Buyers Flock to Used Vehicles in Q2 Report

Experian’s Q2 auto finance report consumers continue to uncover ways to manage monthly payments. For a record percentage of prime borrowers, that meant passing on a $32,000-plus new-vehicle loan in favor of a pre-owned unit.

September 5, 2019

UnityWorks Releases Dynamic Inventory Video Ads
AAGI Acquired by Amynta Group

AAGI Acquired by Amynta Group

American Auto Guardian Inc. has been acquired by Amynta Group, creating a combined footprint that includes 15,000 dealers and 1,400 agents in the U.S. and Canada.

September 5, 2019