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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

Mazda Turns to Toyota for Captive Financing

Mazda Turns to Toyota for Captive Financing

Toyota Motor Credit will offer loans, leases, and F&I products to Mazda’s U.S. dealers and customers, replacing the JPMorgan Chase-backed Mazda Capital Services as the factory’s captive finance company.

August 29, 2019

Report: Longer Commute, Bigger Auto Loan

Report: Longer Commute, Bigger Auto Loan

LendingTree analysts have discovered a correlation between commute times and auto loan balances, finding that car buyers borrow $269 for every additional minute between home and work.

August 2, 2019

AutoNation Nears $2,000 PVR as Big Groups Grow F&I

AutoNation Nears $2,000 PVR as Big Groups Grow F&I

The nation’s six largest publicly traded dealer groups all increased F&I profit per vehicle retailed in the second quarter, led by AutoNation’s $1,926 per copy and Lithia Motors’ segment-leading 11% improvement.

August 1, 2019

Cornered Fed Announces First Rate Cut Since 2008

Cornered Fed Announces First Rate Cut Since 2008

Facing new global realities and pressure on multiple fronts, the Federal Reserve cut interest rates for the first time in more than a decade in an attempt to prolong the economic expansion.

August 1, 2019

Survey: Top Dealers Grew F&I Revenue and PVR in 2018
NADA: F&I Income, Penetration Rates Remain Strong

NADA: F&I Income, Penetration Rates Remain Strong

Despite escalating new-car prices and plateauing sales, NADA analysts report little change to American dealers’ per-copy average, penetration rates, and F&I income as a percentage of gross profit in 2018.

April 16, 2019

Embattled Wells Fargo Chief Steps Down

Embattled Wells Fargo Chief Steps Down

Wells Fargo President and CEO Tim Sloan will retire effective June 30, ending an era marked by a series of scandals that rocked the company’s auto, home, and consumer banking divisions.

March 29, 2019

Burt Reynolds Collection Goes to Auction
Carolina Dealers Face Florence Losses

Carolina Dealers Face Florence Losses

Cox Automotive’s Jonathan Smoke weighed the automotive impact of the impending landfall of Hurricane Florence compared with losses suffered in Texas and Florida last year.

September 12, 2018

Two NY Dealers to Cease ‘Bogus’ Etch Sales

Two NY Dealers to Cease ‘Bogus’ Etch Sales

New York Attorney General Barbara Underwood announced that new-car dealerships in the Bronx and Westchester have agreed to end ‘fraudulent, deceptive, and illegal’ sales of a ‘bogus’ anti-theft product and offer restitution to at least 1,100 car buyers.

September 6, 2018

Freed From CFPB Order, Toyota Financial to Raise Markup Caps
It’s Official: Wells Fargo to Pay $1 Billion Fine

It’s Official: Wells Fargo to Pay $1 Billion Fine

Wells Fargo has consented to pay federal regulators $1 billion to settle charges pertaining to sales of automotive collateral protection insurance and mortgage interest rate-lock extensions.

April 20, 2018

Wells Fargo Faces $1 Billion Fine for Mortgage and Auto Insurance Issues
NY AG Sues Two Dealerships Over the Sale of Etch

NY AG Sues Two Dealerships Over the Sale of Etch

New York Attorney General Eric Schneiderman has filed a lawsuit against Victory Mitsubishi of Larchmont and Victory Suzuki of the Bronx, charging the stores with selling an ‘unwanted and bogus’ anti-theft product.

December 21, 2017