It may be time for consumers who have held onto their vehicles since the 2008 recession, waiting for the economy to bounce back, to hit the lots for a new unit. Experian Automotive reported that there are more than 245 million vehicles on U.S. roads, and that the age of vehicles increased when compared to […] [Read More]

In what should be good news for used-car managers looking for luxury models down the road, NADA Used Car Guide contends that lease penetration for high-end models is back to pre-recession levels. Analysts indicated that the lease rate for luxury units hit 45 percent in 2011, and the rate stood at 44 percent through the […] [Read More]

On Wednesday, the National Automobile Dealers Association welcomed the Obama administration’s continuing review of the proposed model year 2017–2025 fuel economy rules. As White House personnel held discussions with automakers, environmentalists and government officials, NADA articulated issues the association believes have to be raised during the summit called, “Advanced Vehicles, Driving Growth.” NADA asked a […] [Read More]

In an effort to ramp up leasing activity for a specialized model and more, Mitsubishi Motors North America selected Ally Financial Wednesday to be a preferred provider of leasing and financing for the automaker’s electric-powered 2012 Mitsubishi i. As a preferred financing provider, officials highlighted Ally will begin offering leasing for other vehicles in the […] [Read More]

Though not expected to show as steep of an uptick as the overall used market, the prices of luxury used vehicles will likely climb nearly 2 percent this year, according to NADA Used Car Guide senior analyst Jonathan Banks. The projection for this 1.9-percent price uptick is spurred by the significant swoon in supply for […] [Read More]

Though the industry seems to be on the upswing with new-car sales booming, producing more trade-ins and quality used inventory flowing through the auction lanes, growth might be hindered by a global issue: an overall “sluggish” economy. Granted, the economic recovery from 2008’s recession continues on. However, lingering low employment and the low consumer confidence […] [Read More]

As lenders and trade associations look to get a handle on what the regulatory body might do, a Texas bank and two advocacy organizations joined forces last week to file a lawsuit in U.S. District Court in hopes of proving the Consumer Financial Protection Bureau is unconstitutional. [Read More]

Illinois repossession agents and recovery professionals are bracing for the state’s new Collateral Recovery Act to go into effect. The new law requires agents to become licensed through the Illinois Commerce Commission. The law officially goes into effect on July 1, but states regulators attempted to alleviate agents’ concerns about filling out paperwork to be […] [Read More]

Earlier today, Sonic Automotive announced pricing of its private offering of $200 million in aggregate principal amount of 7.00 percent senior subordinated notes due in 2022 to qualified institutional buyers. Officials explained the notes were priced at 99.110 percent of the principal amount thereof, resulting in a yield to maturity of 7.125 percent in an […] [Read More]

Dealers hoping to shore up their supply of luxury used vehicles are likely to be waiting quite a bit longer. In a recent special report, the National Automobile Dealers Association said the next increase in used luxury supply isn’t expected to happen until 2014. In fact, used-luxury supply is projected to decline 13 percent this […] [Read More]