Swapalease.com reported vehicle lease credit applicants registered a 64.7-percent approval rate for November, a 3.2-percent increase from the previous month as the October reading stood at 61.5 percent. A year ago, analysts pointed out that the approvals rate was just 57.9 percent during the same month. The site acknowledged this year's approval rates have been […] [Read More]

Any time I hear the word “future,” my mind immediately goes to the “Late Night with Conan O’Brien” show’s “In the Year 2000” sketch. (And something about LaBamba chanting the sketch’s theme always cracks me up.) While I, too, am a smart-aleck with red hair, I could never be as prophetic or hilarious as Conan. […] [Read More]

Experian Automotive’s latest State of the Automotive Finance Market report indicated the 60-day delinquency rate ticked up 7 basis points year-over-year during the third quarter, landing at 0.74 percent. Each of the four categories of providers Experian notes in its report experienced a slight uptick in 60-day delinquencies. The segment that experienced the highest rise […] [Read More]

Six different companies with a significant auto industry presence were named among the 2016 Best Workplaces for Diversity, according to global research and consulting firm Great Place to Work and Fortune. The half-dozen companies included in the rankings based on employees' assessments of workplace fairness, opportunities for training, and access to senior leadership among other […] [Read More]

Dealership GMs wishing to run World Series-style reconditioning centers can borrow a few winning lessons from Joe Maddon, most recently of 2016 Chicago Cubs World Series championship fame. During an interview at Tropicana Field when Madden managed the Tampa Bay Rays, Men’s Journal writer Pat Jordan noted how the future Chicago Cub’s World Series skipper […] [Read More]

You can count the decision by Roger Penske and his team at Penske Automotive Group to acquire standalone used-car retailer CarSense as a wise one, says Autotrader senior analyst Michelle Krebs. “It’s a really smart move, of course,” Krebs said during a phone interview Friday. “Roger doesn’t make any dumb moves.” Penske Automotive announced Thursday […] [Read More]

After two months of decline, certified pre-owned sales climbed 10 percent year-over-year in November, with dealers selling 202,501 CPO units, according to Autodata Corp. That puts the year-to-date sales total at 2.41 million units through 11 months and less than 144,000 units shy of the record 2.55 million vehicles sold in full-year 2015. With year-to-date […] [Read More]

There was a 3-percent uptick in online new-car shopping in November, while used cars showed a 1-percent drop, according to analysis from Dealer.com director of analytics James Grace. The reason for these numbers? A big new-car push from automakers to make up for lost ground as the year draws to an end. “We did a […] [Read More]

Not only is lease penetration riding a record wave, leasing volume may experience a never-before-seen trend in 2016, as well. That’s according to Edmunds.com, which shared commentary from executive director of industry analysis Jessica Caldwell ahead of automakers reporting car sales on Thursday. “Leasing accounts for a larger share of new-car transactions than ever before, […] [Read More]

There is a considerable contrast between actual start-to-finish transaction times car buyers experience and what dealers believe is ideal, according to eLEND Solutions' survey of dealers nationwide published on Wednesday. While 36 percent of dealers surveyed said the ideal amount of time shoppers should spend in their dealership during the buying process is less than […] [Read More]