The magazine’s resident finance expert points out the good, the bad and the ugly about the recovery. He then offers his take on what lending sources are really saying these days.
Lending to the nation’s 17,000 franchised dealers to purchase new- and used-vehicle inventory continues to lag, making it a top issue for the National Automobile Dealers Association (NADA). The dealer association said that a hearing on Feb. 25 by the Congressional Oversight Panel on the Troubled Asset Relief Program (TARP) highlights the ongoing need to provide more liquidity for auto business lending.
Fitch Ratings has upgraded the issuer default rating for Ford Motor Company and Ford Motor Credit Company to 'B-' from 'CCC'; the outlook remains positive.
Despite signs of retail financing beginning to loosen up, dealer financing remains a major concern. It’s one of the reasons why the NADA is stepping up efforts to restart the market.
The subprime and nonprime auto finance industry has definitely seen better days, but there are signs of a rebound on the horizon. Finance expert weighs in on the situation.
The Federal Reserve Board and the Treasury Department announced Monday that they approved an extension to the Term Asset-Backed Securities Loan Facility (TALF), and said they do not anticipate any further additions to the types of collateral that are eligible for the facility.
Fitch Ratings lowered the ratings for Harley-Davidson and its financial arm, Harley-Davidson Financial Services (HDFS), on Friday after the motorcycle manufacturer announced a decline in revenue and income for the second quarter 2009.
Chrysler Financial announced July 15 it has repaid in full the $1.5 billion of Troubled Asset Relief Program (TARP) government loans.
The American Financial Services Association presented a letter today to the U.S. Treasury Department and the Obama administration’s Auto Task Force that provided recommendations for increasing participation in TALF.
Harley-Davidson Inc. reported decreased revenue and net income for the first quarter of 2009 compared to the year-ago period.
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