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economic downturn

Banking Regulator Issues Warning to Auto Finance Industry

The Comptroller of the Currency warned in a speech delivered yesterday that the pace of auto lending reminds him of the mortgage industry in the run up to the 2009 financial crisis.

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Consumer Demand for Luxury Vehicles Wanes

A survey by TNS indicated that almost one in three luxury car owners have a more negative attitude toward purchasing another luxury vehicle in the future.

U.S. Economic Growth Will Continue to Lag, Says TD Economics

A new report released by TD Economics indicated that the U.S. economy will continue to grow, but the affiliate of TD Bank says the economy may not be able to sustain additional shocks to the system.

Down But Not Out

After nearly 20 years of steady growth, Easterns Automotive founder Robert Bassam almost lost it all. Learn how old friends and a new business model put his operation back on track.

J.D. Power: New-Vehicle Retail Sales Pace Slows in August

J.D. Power and Associates reported that the new-vehicle sales volume deteriorated during the second half of August due to economic woes and harsh weather conditions.

Sales Pace Slowing in August, Reports J.D. Power

New-vehicle sales continue to increase, but they are doing so at a slower pace. Volume remains flat, and manufacturers continue to be conservative with incentives, according to J.D. Power and Associates.

Recession Ended Last June, Says NBER

The recession officially ended in June 2009, the committee that determines the timing of recessions said yesterday. It added that any future downturn of the economy would signal a new recession, not a double-dip recession as some economic watchers have warned as a possibility.

Driving Profits Through the Service Lane

Creating a process for the service department to sell service contracts isn’t a new concept, but it’s gained a lot of interest lately. F&I expert provides a road map for instituting such a process, and says a successful program needs to start with the dealer.

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