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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.
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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.
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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.
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National Automotive Experts and NWAN have launched Money Back Guarantee, a vehicle return program billed as the industry’s longest with coverage up to 90 days.
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Auto/Mate Dealership Systems announced the integration of its dealer management system with the Text2Drive two-way text messaging platform.
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AUL Corp.’s new website is part of a multiphase digital strategy executives say will modernize the automotive econtracting experience.
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Five F&I professionals will attend Industry Summit as a guest of IAS and veteran trainer Eric ‘Frenchy’ Mélon, who will select finalists for the third annual objection-handling competition and F&I training session.
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The first 100 dealers and GMs who register for Industry Summit 2019 will attend for free. The event will be held Nov. 4–6 at the New Orleans Marriott.
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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.
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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.
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