F&I
Lotlinx analysts say new vehicle sales and supplies improved in a third quarter marked by a run on new EVs while a growing need to clear out 2025 units could produce an incentive-rich Q4. +
Dealertrack’s Credit Availability Index increased to 98.3 last month, offering a counter to affordability concerns and continuing a trend toward loosening conditions that began more than a year ago. +
CarGurus dealers now have access to PriceVantage, a new tool designed to use machine learning to deliver pricing recommendations based in part on shopper behavior and inventory datasets. +
Edmunds reports the average transaction price for a U.S.-sold pre-owned vehicle increased by 5% to $31,067 in the third quarter, accompanied by a four-day uptick in lot times. +
Each of America’s six largest publicly traded dealer group say gross profit per new vehicle retailed declined on a year-over-year basis in the third quarter, some by double digits. +
A strategic investment is designed to expand the reach of TecAssured’s protection product lifecycle management software and accelerate innovation in agent- and provider-facing solutions. +
TransUnion’s Q3 2025 Credit Industry Insights Report finds a growing disparity among U.S. car buyers seeking auto loans, who increasingly find themselves in the highest- and lowest-risk credit tiers. +
Automotive News reports U.S. new vehicle sales registered a 1.2% overall improvement in October despite waning EV demand, led by increases for Toyota, Ford, Honda and Kia. +
Protective has agreed to purchase Portfolio, combining two of the nation’s leading F&I and reinsurance providers and adding to a string of major acquisitions that includes AUL, Revolos and U.S. Warranty. +
The Federal Reserve Board has reduced its target lending rate by one-quarter of a point for the second time this year, with a third cut planned for December, Chairman Jerome Powell announced. +
Fitch Ratings analysts say the escalating cost to purchase and maintain a vehicle has pushed defaults, repossessions and the rate of loans more than 60 days past due to historic levels. +
NADA analysts say waning demand and affordability issues are depressing sales team earnings, Nevada leads the nation in average payroll and bigger dealers continue to gain market share. +
Presidio and NCM analysts say Q3 net pretax profit metrics varied wildly among domestic, import and luxury dealers in a report skewed by EV sales and echoes of the CDK Global outage. +
Wolters Kluwer’s Digital Transformation Index shows the adoption of digital workflows ticked down by 2.3% from the second quarter but improved by 4.3% year-over-year. +
Carleton’s Tim Yalich urges dealers and finance sources to face the “critical reality” of the complexity, challenges and profitability risk that underlies lease payment calculations. +
Kelley Blue Book reports the average transaction price for a U.S.-sold new vehicle exceeded $50,000 for the first time in September despite increased incentive spending. +
Edmunds reports the average amount owed on upside-down car loans reached a new record of $6,905 in the third quarter as more new car buyers traded in vehicles burdened by negative equity. +
Despite tightening among captive finance companies, the Credit Availability Index was essentially flat on a month-to-month basis in September, ticking back up to July’s 98.1 mark after falling by 0.2% in August. +
Ford has followed General Motors by unwinding a program intended to claim expiring $7,500 federal EV tax credits for future customers under pressure from U.S. Sen. Bernie Moreno. +
Executives say increased financing options with familiar partners will help Amazon-partnered Hyundai dealers reach more used car buyers and sell more F&I products. +
GM tells Bloomberg the factory will replace the expired $7,500 federal EV tax credit with $6,000 in “lease support” cash following unrelated reports of a similar move at Stellantis. +
Fifth Third Bancorp will acquire Comerica Inc. in an all-stock transaction valued at $10.9 billion, creating the nation’s ninth-largest bank with approximately $288 billion in assets. +
Tesla delivered 497,099 units to U.S. buyers and lessees in Q3, setting a single-quarter record as the clock ran out on the $7,500 federal EV tax credit. +
Toyota, Hyundai and Ford lead in year-over-year gains in Automotive News’s Q3 and September sales reports, which show a boom for electrified units and welcome news for Stellantis dealers. +
Protective Asset Protection has launched a new comprehensive program that refreshes and streamlines its Paint and Fabric product with broader coverage and new benefits. +
Edmunds’s Q3 auto finance report shows the average down payment for a new vehicle fell to $6,020 while $1,000-plus monthly payments, loan terms and interest rates remain high. +
A new Carleton survey finds lending, banking, finance and fintech professionals are both optimistic and cautious toward new systems designed to improve speed, accuracy and compliance. +
Automotive News reports Ford and General Motors have been working with dealers to secure an unknown number of $7,500 federal tax credits for EV shoppers before they expire. +
RouteOne has adopted machine learning and optical character recognition to identify and process “not electronically originated” documents included with econtracting packages. +
CDK’s 2025 F&I Shopper Study finds most car buyers trust their F&I managers and believe they are tuned to their needs, but long wait times are hurting CSI and repeat business. +
California Gov. Gavin Newsom now says there will be no state-funded replacement for the expiring $7,500 federal tax credit for EV buyers, reneging on a promise he made in November. +
Under pressure from the White House and troubling inflation reports, the Federal Reserve Board voted to reduce its target lending rate by a quarter-point to 4% to 4.25%. +
Chief Warrant Officer Shane Sprague is suing Doral (Fla.) Volkswagen more than two months after being arrested for stealing a truck he had purchased from the dealership. +
Cox Automotive analysts say the average price of a pre-owned vehicle purchased from a U.S. dealer ticked down to $25,393 in August as sales improved amid a strong showing for CPO units. +
Gov. Gavin Newsom is expected to sign the California Combating Auto Retail Scams Act, which was modeled in part after an FTC initiative that stalled in a federal appeals court in January. +
Americans spent an average of $49,077 to buy a new vehicle in August as KBB analysts report the biggest year-over-year price hike since 2023, driven by new models and strong EV sales. +
Representatives of major trade associations tell Automotive News a study that found evidence of discriminatory auto lending practices relies on flawed methodology and incomplete data. +
JPMorgan Chase, Fifth Third and Barclays are among the credit line providers facing massive losses as retailer and subprime lender Tricolor Auto enters bankruptcy proceedings. +
A new Carleton survey of 2,000 U.S. lending, bank, auto finance and fintech professionals finds the majority experience loan payment discrepancies on a weekly or monthly basis. +
U.S. auto dealers remain confident in the market despite slowing profitability and traffic, expressing “cautious optimism” thanks to strong sales and low unemployment. +
Hyundai and Genesis dealers set new one-month records in August, a month that saw double-digit year-over-year gains for some factories and single-digit losses for others. +
Experian’s Q2 auto finance report shows stability in loan amounts, monthly payments and delinquencies, belying a fight for auto finance market share that banks are now winning. +
Automotive News’s latest quarterly report shows Sonic Automotive leading the “Big 6” publicly traded dealership groups with an average of $2,718 in F&I gross profit per vehicle. +
A new Botdoc survey finds 63.8% of U.S. buyers are “very” or “extremely” frustrated by the shopping process and want to complete more steps online while protecting their personal data. +
A 31% jump in EV lease penetration helped drive front-end gross on new lease deals into negative territory for the first time since 2020, according to the latest StoneEagleDATA report. +
Fullpath has acquired Fuse Autotech’s Dynamic Payments solution in an effort to deliver personalized offers in real time to car buyers on Fullpath’s “AI-first” Customer Data Platform. +
The results of Automotive News’s inaugural Auto Industry Confidence Index survey show U.S. franchised dealers were less optimistic about the industry’s prospects in July than they were in June. +
Volvo Car Financial Services now offers auto, home and personal insurance coverage through Volvo Car Insurance Services, a new, independent insurance agency. +
The latest benchmark report from StoneEagleDATA finds U.S. dealers enjoyed a 10% increase in F&I income in July as deal count volume rebounded from a relatively slow June. +
Subprime reports Ally Financial earned the highest overall ranking among finance sources for the fifth straight time in J.D. Power’s annual U.S. Dealer Financing Study report. +
Kelley Blue Book analysts say strong, steady incentive spending kept new vehicle prices in check in July, a month in which EV discounts soared to record highs ahead of significant changes to federal policy. +
Strong July sales reports were matched by a third consecutive month of improved credit access, according to Dealertrack’s latest Credit Availability Index, which climbed to 98.1. +
Experian’s 2025 U.S. Identity & Fraud Report finds AI is in use by more than one-third of surveyed service providers, but advanced technology has yet to outpace obstacles to adoption. +
Automotive News has released its latest annual list of the U.S. auto groups producing the most F&I revenue per vehicle and by rooftop, including the biggest risers and fallers from 2024. +
Each of the six manufacturers reporting monthly U.S. sales to the Automotive News Data Center says volumes were up on a year-over-year basis in July, led by a 19.9% increase for Toyota. +
New agreements set the levy on vehicles imported from South Korea at 15% and extend an Aug. 1 deadline that would have subjected Mexico-built units to a 30% tariff. +
The governors of the Federal Reserve have decided to maintain a target lending rate of 4.25% to 4.5% for a fifth consecutive meeting under mounting White House pressure. +
Edmunds reports more than one in four Americans who secured an auto loan in the second quarter were underwater on their current vehicle, with a historically high average balance of $6,754. +
Honda has launched Honda Insurance Solutions, a new, licensed agency built to offer competitively priced options to buyers of Honda and Acura vehicles. +
Trump administration officials announced the terms of an agreement that would reduce tariffs on vehicles and parts imported from European Union nations to 15%. +
Zoom Auto Protect has unveiled a new claims and concierge platform that promises instant coverage decisions, nationwide service center integration and enhanced customer satisfaction. +
Tariffs on vehicles imported from Japan are now set at 15% as a part of an agreement that AAPC chief Matt Blunt calls a “bad deal” for U.S. factories that build vehicles in Canada and Mexico. +
Lotlinx’s latest report finds U.S. dealers sold fewer EVs with more supplies in the second quarter as a market “fueled by affordability” steered price-conscious car buyers into gas and hybrid units. +
The latest Presidio Group/NCM Associates report finds the average U.S. franchised dealer enjoyed a 27.1% year-over-year increase in net pretax profit in the second quarter. +
Wolters Kluwer’s Digital Transformation Index shows econtracting adoption increased by just over 7% from the prior quarter and is up by more than 116% over the past four years. +
vAuto data shows U.S. sales of pre-owned units were down 1.5% month-over-month in June, led by a double-digit decrease in CPO sales blamed in part on a “seasonal slowdown.” +
Cox Automotive analysts fear manufacturers and retailers are protecting consumers from the rising costs of new cars, creating an unsustainable dynamic as profitability concerns grow. +
Dealertrack’s Credit Availability Index ticked up again in June, reaching 97.3 after rising to 96.5 in May, driven by an approval rate that improved by 70 basis points month-over-month. +
Fullpath reports the majority of car buyers and lessees are comfortable with AI and a partial or fully online transaction, raising expectations for a seamless dealership experience. +
Amid shifting supply-side dynamics, the Manheim Used Vehicle Value Index increased by 6.3% year-over-year and 1.6% month-over-month in June. +
Ford has dropped its national “From America, For America” employee discount campaign in favor of a new incentive: zero percent financing for 48 months with zero down and zero due for 90 days. +
Americans who purchased new vehicles in June describe a significantly less enjoyable dealership experience than those surveyed just one month earlier, according to CDK Global’s latest survey. +
U.S. sales of new light duty vehicles slowed “considerably” in June after several months in which Americans rushed to lock in pre-tariff prices, according to the latest reports from Automotive News. +
The latest quarterly report from Edmunds finds car buyers set new records for $1,000-plus monthly payments, 84-month terms and average amount financed, all on smaller down payments. +
Cox Automotive reports the number of dealers offering a fully online transaction has doubled in the past two years, resulting in a more efficient process increasingly driven by AI-powered tools. +
The Consumer Confidence Index fell 5.4 points in June, led by a plummeting Expectations Index, which remains below the threshold said to “typically signal” an oncoming recession. +
Prices for new Toyotas sold in the U.S. will increase by an average of $270 in July — but not because of the Trump administration’s new 25% tariff on imported vehicles, a spokesperson tells Reuters. +
The Federal Reserve maintained its 4.25% to 4.5% target rate for a fourth consecutive meeting, but the board remains committed to making two quarter-point cuts or one half-point cut by year’s end. +
A memo sent to Mitsubishi dealers and reviewed by Reuters indicates the Tokyo-based factory will raise prices of new units sold in the United States by an average of 2.1% in response to new tariffs. +
Automotive News reports automakers eager to adopt a direct sales model in European markets have abandoned those plans as obstacles — including dealer opposition — have proven insurmountable. +
Arra Finance has agreed to acquire Crescent Bank’s automotive division, quadrupling origination volume and adding about 180 employees, $1 billion in assets and $815 million in existing auto loans. +
Lotlinx reports new vehicles in stock at U.S. dealerships carried over at a rate of 51% in May, a 3% increase over the same month a year ago, and days’ supply improved by five days to 64. +
Dealertrack’s Credit Availability Index maintained a steady upward course in May, improving to 96.7, a modest month-over-month increase and a nearly three-year high. +
The percentage of borrowers more than 60 days past due on their auto loans increased by five basis points year-over-year to 1.38%, according to the latest quarterly report from TransUnion. +
Experian reports the average amount financed for a new vehicle purchase in Q1 was $41,720, with an average monthly payment of $745, up from $40,610 and $737 in the prior-year quarter. +
Protective’s Tim Blochowiak offers a playbook for dealers who want to protect their customers, create a competitive advantage in sales and service, and accelerate their wealth-building programs. +
Dealers, insurance providers, finance sources and rental agencies are under attack, leading Veridos America’s Jim Marsh to advocate for an industrywide effort to properly verify identities. +
Automotive News reports new vehicle sales improved for Ford, Hyundai and Kia and fell by double digits for Mazda in May, dropping the SAAR below 16 million as factories scaled back incentives. +
Regulators will no longer pursue discriminatory pricing charges against three Texas dealerships owned by Asbury Automotive following an executive order challenging the legal theory of disparate impact. +
Attorneys who accused Chicago’s Western Avenue Nissan of falsifying their client’s credit application have cited complaints from 12 online reviews to qualify their lawsuit as a class action. +
Cox Automotive’s Dealer Sentiment Index ticked downward as economic concerns outweighed strong customer traffic and sales, including a 10-point bump in in-person visits to franchised dealerships. +
The average age of a registered light duty vehicle hit an all-time record of 12.8 years in 2024, registering a second consecutive 60-day year-over-year increase, according to S&P Global Mobility. +
Subaru will raise prices on nearly every U.S.-sold model starting in June, according to Motor1 and other sources, citing “market conditions” without specifically mentioning new tariffs. +
The Cox Automotive/Moody’s Analytics Vehicle Affordability Index decreased by 1.6% in April after hitting a 45-month high in March. Analysts blame tariffs for rising prices and payments despite strong economic indicators. +
A $60 million settlement agreed to by Toyota Financial Services following charges of noncompliant F&I product sales has been canceled by the U.S. Consumer Financial Protection Bureau. +
Auto finance AI solutions provider Informed.IQ has partnered with Suncoast Credit Union, providing a “low-lift” integration designed to accelerate funding and enhance dealer satisfaction. +
Lotlinx’s Len Short digs beneath the headlines to review a litany of first quarter auto retail and finance reports and distill them into four key points in his latest contribution to DealerELITE. +
The Dealertrack Credit Availability Index fell from 96.3 in March to 95.7 in April, an 0.7% decrease driven by fewer loans extended to subprime buyers. +
Kelley Blue Book reports U.S. average transaction prices increased by 2.5% for new vehicles between March and April while Carfax finds used units enjoyed an unusually large “spring bounce.” +
Chairman Jerome Powell says the Federal Reserve will not reduce its target lending rate, holding at 4.25% to 4.5% as evolving economic and trade policies make future conditions difficult to predict. +
Group 1 Automotive reported a 5% increase in F&I profit per vehicle in the first quarter, leading the six biggest publicly traded U.S. auto groups, five of which reported year-over-year gains. +
Citing import tariffs, Ford has informed its U.S. dealers that MSRPs will increase by up to $2,000 per vehicle, effective May 2. The first affected units are expected to be delivered in June. +
Nissan will tie all dealer compensation to new vehicle sales targets starting June 3, dispensing with its current 20-metric program and standardizing spiffs, according to an Automotive News report. +
All seven manufacturers and 11 brands reporting new vehicle sales to Automotive News enjoyed year-over-year increases as Americans took advantage of incentives and rushed to beat expected price hikes. +
Protective Asset Protection’s Tim Blochowiak urges dealers to create a long-term earnings strategy that includes capital and investments, a diverse F&I portfolio, risk management and more. +
Attorney Tom Oscherwitz warns the auto finance industry not to take its foot off the compliance pedal despite the Trump administration’s systematic dismantling of federal regulatory bodies. +
Presidio-NCM reports U.S. franchised dealers enjoyed a 3.7% year-over-year increase in net pretax profit in the first quarter following three straight years of post-pandemic losses. +
Wolters Kluwer reports the rate at which dealers and auto finance sources are adopting digitized contracting and documentation workflows improved by 1% from the prior quarter and 2.2% year-over-year. +
In a memo to Nissan dealers, factory executives say they will not raise new vehicle prices to compensate for new tariffs on imported vehicles and plan to utilize idle U.S. capacity. +
StoneEagleDATA reports U.S. dealers made an average of $242,283 in total F&I income in the first quarter, an all-time record exceeding the post-COVID boom of 2021, despite generating fewer deals per rooftop. +
Plug’s new Trade Desk app was designed to help dealers accurately and efficiently determine the trade-in value of EVs produced by other manufacturers and generate market-rate wholesale offers. +
Cox Automotive and Kelley Blue Book report March was a good month for new vehicle affordability as sales surged, income growth improved and transaction prices and payments declined. +
Volkswagen will not raise U.S. new vehicle prices through at least the end of May, joining a group of manufacturers who have announced discounts and freezes as tariffs on imported vehicles take effect. +
Lotlinx’s latest VIN-based Quarterly Vincensus Report finds that, despite a March sales surge for new and used vehicles, aging inventory undermined profitability over the course of the first quarter. +
Director Fan Jin told attendees of this week’s J.D. Power Forum that U.S. car shoppers can now lease new Hyundais from Amazon Autos, which is stocked with inventory from dealer lots. +
Southeast Toyota Finance’s Casey Gunnell Jr. will succeed the retired Bill Shope as president while Charles Gruszczynski and Michael Hollis have been promoted to group vice president. +
Dealertrack (div. Cox Automotive)’s All-Loan Index improved to 96.4% in March, a 3.1% year-over-year gain and the highest level of auto loan access since December 2022. +
Sen. Bernie Moreno’s USA CAR Act would allow buyers of American-made vehicles to deduct interest paid on their auto loans, formalizing a tax policy repeatedly floated by President Donald Trump. +
Stellantis will offer U.S. buyers a choice between April incentives and an employee discount through the end of the month. Hyundai and Genesis prices are frozen for the next 60 days. +
Edmunds analysts say 84-month loans accounted for 19.8% of U.S. new vehicle financing in the first quarter of 2025, an all-time high and a 25.3% increase from the year-ago quarter. +
Ford has launched “From America, For America,” a new campaign offering employee discounts on most of the factory’s U.S. lineup, in a bid to offset a new tariff on imported vehicles that goes into effect today. +
President Donald Trump has spared vehicle manufacturers and some auto part suppliers from sweeping new “reciprocal” tariffs announced today. Both remain subject to 25% tariffs announced in March. +
U.S. new-vehicle sales reported to Automotive News showed multiple double-digit gains and few losses in March as new tariffs set to go into effect starting April 3 are expected to raise prices. +
The “Big 6” publicly traded U.S. auto dealer groups are growing in size, sales and profitability as they hold onto the top positions in Automotive News’s annual ranking of the Top 150 Dealership Groups. +
President Donald Trump said Speaker Mike Johnson is crafting a policy that would allow Americans who take out loans for U.S.-built vehicles to deduct the interest from their taxable income. +
Assurant Vehicle Care Technology Plus is a new service contract offering coverage for high-tech in-vehicle components as well as common repairs to the customer’s smartphone. +
President Donald Trump announced increased tariffs on new vehicles and some parts imported for sale into the United States, effective April 3, a move experts say will raise prices and reduce sales and production. +
Experian has launched Cashflow Score, a new solution designed to help finance sources gauge creditworthiness by accessing and analyzing consumer-permissioned transaction data. +
Point Predictive’s latest Auto Lending Fraud Trends Report finds auto finance sources face an estimated $9.2 billion in loss exposure, fueled primarily by “first-party” credit application fraud. +
Attorney Tom Oscherwitz says generative AI-powered “deepfakes” are giving criminals new ways to defraud dealers and finance sources and spurring the development of new detection tools.+
Dealertrack’s Credit Availability Index improved 3% year-over-year in February, but negative indicators such as subprime share, term, down payments and negative equity added risk to loan portfolios. +
Citing low unemployment and “solid” market conditions, the Federal Reserve Board held firm to its 4.25% to 4.5% target lending rate, extending a pause that began in January following a series of quarter-point cuts. +
vAuto reports U.S. sales of all pre-owned vehicles increased by 5.6% to 1.57 million units year-over-year, but certified pre-owned sales were down 3.4% compared with February 2024. +
F&I wait times are on the rise, according to CDK’s 2025 Friction Points study, hampering dealers’ ongoing — and largely successful — efforts to reduce total transaction times and generate referrals. +
Kelley Blue Book reports the average cost of a U.S.-sold new vehicle increased by 1% year-over-year to $48,039 in February but declined by 1.3% from the prior month. +
The U.S. Bureau of Labor Statistics reports the annual rate of inflation fell from 3% in January to 2.8% in February on a year-over-year basis, slightly below the forecasted rate of 2.9%.+
Automotive News’s annual dealer census finds U.S. retailers added 171 dealerships in 2024 but lost franchises as domestic manufacturers lost scores of stores while their import rivals gained ground. +
700Credit’s Ken Hill warns dealers who utilize digital deal jackets that, without modernization of certain processes and safeguards, customer data may be at risk. +
Edmunds reports the U.S. auto finance market demonstrated stability in the face of uncertainty in February, with modest increases in loan cost, amounts financed, payments and terms. +
Experian reports the average amount financed in a U.S. new vehicle transaction was $41,572 in the fourth quarter, a 2.6% increase, but with a slightly lower average monthly payment of $600. +
President Donald Trump has granted a one-month exemption to steep new tariffs on goods imported from Canada and Mexico for U.S. automakers, demanding a shift toward U.S. production in return. +
Automotive News reports Hyundai, Kia, Subaru and Mazda notched year-over-year U.S. new vehicle sales gains in February, including a fifth straight record month for Hyundai and Kia, led by the Genesis marque. +
The Presidio Group/NCM Associates year-end report finds F&I income per unit retailed increased slightly in 2024 while gross profit per new vehicle retailed fell by 33% to $2,247. +
Five of the Big 6 publicly traded dealer groups are generating at least $2,000 in F&I gross profit per vehicle retailed, according to the latest quarterly report from Automotive News. +
Subaru, GM and Tesla top S&P Global Mobility’s latest Automotive Loyalty Awards rankings for dealer, manufacturer and make, respectively, as overall brand loyalty improves to 51.6%. +
InformedIQ.com’s Jessica Gonzalez says a recent U.S. Treasury report proves artificial intelligence is changing the auto finance industry in several ways, enhancing efficiency as well as risk. +
Few of the leading economists surveyed by Wolters Kluwer expect the Federal Reserve to announce an interest rate cut at its March meeting as inflation shows few signs of abating in 2025. +
TransUnion’s latest credit insights report forecasts gains in auto, home and unsecured personal loan originations tempered by concerns over changing federal policy and paused interest rate cuts. +
Lotlinx’s Q4 Quarterly Vincensus Report finds sales of hybrid vehicles increased by 23% between the third and fourth quarter of 2024, accounting for 22% of all U.S. new vehicle sales. +
Cox Automotive and Moody’s Analytics’ New Vehicle Affordability Index improved to 37.7 in January as Americans earned higher incomes and prices normalized following strong year-end sales. +
Cox Automotive announced U.S. franchised and independent dealers sold 1.4 million used vehicles in January, an 8% year-over-year improvement, as days’ supply ticked down to start the month. +
A Protective Asset Protection survey found that 57% of U.S. dealers said at least half their customers bought F&I products online last year and 60% believe offering those products online improved sales. +
Reynolds and Reynolds reports sales retention ticked up to nearly 44% in 2024 despite the fact that 24 of 38 brands saw a decrease in repeat buyers, including one that finished in the single digits. +
The consumer price index rose for the fourth straight month in January, pushing inflation to a 3% year-over-year increase in the same month the Fed announced a pause to interest rate cuts. +
The Dealertrack Credit Availability Index improved to 95.4 in January, a 2.9% year-over-year improvement driven in part by a 100-basis-point market share gain for subprime borrowers. +
NADA analysts say U.S. dealers were on track to sell 15.6 million new units in 2025 at the end of January, a fifth straight year-over-year increase but a minor letdown following a strong December. +
TransUnion now offers a creditworthiness score based on the applicant’s banking activities, potentially adding options for car buyers without access to “mainstream” credit. +
Jeep owners say their infotainment screens are lighting up with unwanted, frequently appearing ads for an extended factory warranty. The Drive’s Caleb Jacobs investigates. +
A memo sent to Nissan dealers and reviewed by Automotive News’s Urvaksh Karkaria suggests the automaker has launched an aggressive new tiered sales bonus program. +
Volvo moved 50,820 new units worldwide in January, a 5% year-over-year decline offset by a 17% improvement in sales of EVs and plug-in hybrids. +
Automotive News reports U.S. Hyundai, Kia and Mazda dealers enjoyed double-digit gains in new vehicle sales compared with January 2024 while Ford and Toyota suffered modest losses. +
President Donald Trump levied new tariffs of 25% on goods imported from Canada and Mexico and 10% on imports from China with no exemptions for vehicles or auto parts. +
Analysts say econtracting adoption has slowed for consecutive quarters but improved dramatically compared with the fourth quarter of 2023. +
An eLEND Solutions survey found 90% of respondents believe AI-based pricing is contributing to inaccurate online quotes. +
WardsAuto’s Alysha Webb offers tips dealers can use to counter an expected shortfall of more than 1 million off-lease units and help prevent future shortages. +
The Federal Reserve Board’s first meeting of 2025 ended with its target lending rate unchanged as the agency pursues its “dual mandate” to limit inflation and unemployment. +
A new partnership that pairs Reynolds and Reynolds’s DMS with Sunbit’s prescreening technology was designed to allow dealers to deliver automated financing offers to service customers. +
More than two-thirds of U.S. dealers who responded to the Kerrigan Dealer Survey fear EVs will hurt business in 2025, likely contributing to a six-year low in profit expectations. +
In a survey of 3,900 U.S. franchised dealers, Presidio Group analysts found gross profit per vehicle fell in 2024 while new vehicle sales, F&I income and total revenue improved. +
Brady Jones has joined Prosidium as executive vice president of dealer success for the U.S. market following a successful tenure at Cilajet. +
Experts say identity fraud is on the rise and costing the American auto industry billions while inconveniencing legitimate customers. The Detroit Free Press investigates. +
700Credit will integrate its services into Botdoc Connect, promising faster and more efficient hard and soft credit pulls with enhanced data security. +
Discounts of up to $2,630 for a 2024 Cybertruck tell a different tale than that predicted by Tesla executives when the fully electric pickup hit the market. Laurence Iliff offers expert analysis for Automotive News. +
Kelley Blue Book analysts say Americans spent an average of $49,740 on their new vehicle purchases in December, threatening a record set during peak pandemic-era inventory shortages. +
Conecta founder Andrés Huertas believes listening to dealers can help auto finance sources reduce their second-biggest business expense. Auto Fin Journal has the exclusive. +
Westlake Financial announced the launch of a new program that will allow some car buyers seeking financing to make their down payment using Bitcoin and avoid taxes incurred from its sale. +
The Tesla Model 3 moved up in iSeeCars’ annual rankings of the nation’s best selling used vehicles, but pickups and SUVs continued to lead the market in 2024. +
Polly will unveil Professional Insurance Platform, the latest iteration of its dealership customer-facing auto insurance solution, at 2025 NADA Show. +
Edmunds’s latest auto finance report finds average monthly payments passed the $750 mark in the fourth quarter, corresponding with an average amount financed in excess of $42,000. +
Chase Auto has named 25-year industry veteran Leslie Wims-Morris as CEO, replacing Peter Muriungi, who will take on the same role at Chase Connected Commerce. +
U.S. new light-duty vehicle sales rose to 15.7 million in 2024, a 2.5% year-over-year increase driven by big gains among certain brands, marques and types and capped by a 4.1 million-unit fourth quarter. +
In a new lawsuit, the FTC and the attorney general of Maryland say the three-store Lindsay Automotive Group made millions by systematically overcharging customers. Executives denied the charges. +
Tesla sold 1.79 million EVs worldwide in 2024, down 1.1% from the prior year despite a fourth-quarter push that included offers of 0% financing and free charging. +
S&P Global forecasts a 41% year-over-year decline in leased vehicle returns in the first half of 2025. Experts say the low inventories and incentives of 36 months ago will likely affect supplies for at least a year. +
The Federal Trade Commission announced a recordbreaking settlement with AutoCanada over a slew of fraud charges the agency leveled against the dealer group’s 10 U.S. rooftops. +
The latest new-vehicle sales and finance reports from Cox Automotive show strong sales and credit availability as incentives offset higher prices to sustain affordability. +
Chairman Jerome Powell said interest rate reductions would slow next year while announcing an expected quarter-point cut to end 2024 with a target range of 4.25% to 4.5%. +
Decisive election results and falling interest rates pushed Cox Automotive’s Dealer Sentiment Index into positive territory as a tumultuous 2024 draws to a close. +
PCMI announced the addition of loyalty program management capabilities to its Policy Claim and Reporting Solutions platform to help dealers drive fixed ops revenue and retention. +
Ford Motor Co.’s U.S. dealers sold 166,373 new Fords and Lincolns in November, a 14.3% increase from the same month a year ago, the factory reported. +
Experian’s latest auto finance report finds U.S. consumers’ monthly payments ticked up for new vehicles and down for used, corresponding with minimal changes in loan amounts. +
The Automotive News Data Center reports Big 6 public auto dealerships experienced an overall decrease in F&I gross profit per vehicle in the third quarter. +
Lexus and Honda led all premium and mass-market manufacturers for the fourth consecutive year as rising prices worked against most brands. +
The Federal Reserve’s recent rate cuts in addition to an increase in automakers’ incentives are helping to stabilize the auto market, a good sign for dealers and consumers. WardsAuto's Nancy Dunham reports.+
Declining interest rates, increased incentives and personal income gains have led to the best new-vehicle affordability level since August 2021. +
New-vehicle incentives are up by more than 60% heading into the final stretch of 2024, helping dealers clear inventory off their new-vehicle lots. +
British financial institutions may flee the auto lending sector after a bombshell appeals court ruling put them on the hook for massive consumer payouts. +
New-vehicle incentives have continued their growth trend as factories compete for sales and help dealers move their remaining 2024 inventory. +
When customers refinance, dealers lose F&I income and underwriting profits. Falling interest rates have pushed more Americans who have secured an auto loan in the past 24 months to say they are “likely” to refinance soon, according to the latest TransUnion survey. +
Vanguard Dealer Services' Mickey Quinn urges dealers to address long-term customer engagement in sales and F&I training programs. +
Americans still want to buy new vehicles, but an increasing price gap will require consumers to adjust their expectations or settle for pre-owned. +
A new partnership between EasyCare and Petra Automotive Products will pair Petra’s “high-performance” chemicals and proprietary training with EasyCare’s product suite. +
Wolters Kluwer’s Q3 Auto Finance Digital Transformation Index shows econtracting adoption slowed in the third quarter but continues to advance in year-over-year and four-year trends. +
Anomaly Labs CEO Marty Hu believes his company’s AI-powered F&I training tool will help dealers complete compliance checklists while F&I professionals sharpen their skills again AI “customers.” +
Analysts say more than one-third of upside-down car buyers owed more than $10,000 on their prior loans in the third quarter, with 7.5% owing more than $15,000. +
Edmunds analysts fear a growing number of 84-month auto loans could indicate that new-vehicle buyers are stretching beyond their financial means. +
EFG Companies announced the launch of Wealth Builder Profit Participation Suite, a new program that guarantees a profit per unit retailed increase of $206,400 per F&I producer, per year. +
Kevin Hull will succeed Wade Bontrager as president of National Truck Protection Company, the company announced. Bontrager will continue to serve as an NTP board member and advisor. +
Buckeye Dealership Consulting has hired Jim O’Connell as COO and Martin Gutierrez as business development manager, according to Auto Remarketing’s BHPH Report. +
Asbury Automotive outlined internal processes as part of a formal denial of wrongdoing following accusations from the Federal Trade Commission of systematic payment packing. +
MOTOR Information Systems has named CNA National among its honorees for the 2024 MOTOR Top 20 awards, a program designed to recognize “innovative and exciting new developments." +
