Our team of executives from the F&I provider and administrator segment offered their predictions on the current state of the economy and where it may be headed; how the new Biden administration will move forward; and what role evolving rules and regulations may play, impacting the industry from OEMs to dealers to providers.
Experian’s latest report also highlights geographic trends in automotive finance.
It is now clear that like 2020, 2021 will also not have typical seasonality patterns as the market is going through a rapid increase in wholesale values.
The survey was conducted on May 13, a time of significant disruption and fuel shortage up and down the East Coast.
Auto loan originations and leases to subprime borrowers fell to just 15% of the total in the first quarter, reported the New York Federal Reserve.
vAuto reports vehicle inventories dropped to 2.24 million vehicles in April, representing a 44-day supply.
Volkswagen strength driven by best-selling models; Tesla falls on price declines for its most expensive vehicles.
New inventory is not expected to see improvement until the third quarter of this year, so values are expected to remain at elevated levels throughout the summer.
The Bureau of Labor Statistics reports the cost of previously owned sedans, pickups, and SUVs climbed 10% in April, accounting for over one-third of the 0.8% CPI increase.
The automaker bases this assessment on a belief that electric vehicles will not catch up to gasoline-powered vehicles in terms of cost and convenience by 2030.
Subaru FY2020 profits plunged by half as automaker grapples with the pandemic, microchip shortage and other factors.
Car segment gains ticked up slightly this past week (+1.25%) compared to the week prior (+1.17%).
The Black Book April Retention Index broke yet another record, reaching 152.4 points.
As the semiconductor shortage slashes vehicle production, rental car companies are taking extreme measures to bolster their fleets. The businesses are buying used vehicles at auction.
Retail inventory levels, new and used, continue to be a challenge and the limited availability of quality vehicles in the wholesale market is also proving to be a challenge for buyers.
More than 160 dealers, agents, and industry executives took part in the inaugural West Coast Compliance Summit, one of three concurrent events featured at Industry Summit 2016. And more than 80 of them successfully completed the event’s compliance certification component.
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