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DETROIT — General Motors Co. says it is working with banks and other financial institutions so it can sell and lease more cars to buyers with poor credit, reported The Associated Press.
The talks lessen the likelihood of GM trying to buy the auto finance business from Ally Financial, its main lender. They also make it less likely that GM would start its own auto financing unit.
GM considered both options earlier in the year because Ally was reluctant to fund loan and lease deals to buyers with subprime credit. About 16 percent of all loans for new cars and trucks go to subprime buyers. GM recently has been unable to tap that market.
Spokeswoman Renee Rashid-Merem says GM's current strategies are working because sales are growing.
Wholesale auto conversion rates dropped slightly as auction buyers proved picky last week, analysts observed.
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Fast charging of electric vehicles provides a solution for range anxiety, but it also poses a risk to battery cycle life due to increased temperatures, according to an EV supply chain data provider.
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Expanding Midwest automotive group picks up three stores as part of the robust transaction activity early this year.
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Stellantis is adding a third end-of-life vehicle dismantling facility to feed its growing reuse business sparked in large part by autos’ growing lifespans.
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Cox Automotive data shows Americans doubled down on big-is-better despite price increases. Slightly higher incentives helped fuel the demand.
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The automaker says its movement of some electric-vehicle work to the S.C. factory is part of a more tailored product focus. It also plans to add a new hybrid model to the plant’s itinerary.
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Last week's wholesale automotive auction activity continued in a healthy mode, though buyers practiced selectivity.
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CarGurus’ first quarterly review of 2026 shows that affordability concerns are continuing to drive consumer purchases with a shift to more fuel-efficient options.
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JD Power analysts see auto retail faring this year’s storms well through various means, though it acknowledges conditions are challenging to accurately predict.
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Car insurance premiums have continued to decline so far this year, the overall national average settling at $138 per month in March, according to Insurify data.
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