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As an evaluation firm articulated the top seven steps to follow within a software development life cycle, a provider of cloud-based software solutions for all financial institutions announced the results of its latest survey focused on the need for artificial intelligence (AI) in auto financing. Inovatec Systems Corp. released its study findings this week that […] [Read More]

Typically, the most risk in auto loan asset-backed securities (ABS) resides in the subprime space stemming from the lower credit tiers connected to that paper. Well, S&P Global Ratings is seeing risk grow within prime ABS, too. Because finance companies are addressing consumers’ shifting preference for larger, more expensive vehicles by extending contract terms up to […] [Read More]

At the highest level, Black Book’s Used Vehicle Retention Index remained steady in July compared to June, as analysts pegged the latest reading at 115. However, looking deeper into the data, Black Book uncovered some notable value movements, mentioning four vehicle segments in particular. Analysts noticed values of compact crossovers (up 0.82%) and sporty cars […] [Read More]

Used-vehicle sales are likely to reach 39.0 million for full-year 2019, still a healthy tally, but it would be down 1.1% from last year. That’s according to Oliver Strauss, who is chief economist for the ALG subsidary at TrueCar. There were 39.43 million used-car sales last year, he said. “Overall demand for vehicles has gone […] [Read More]

Perhaps it’s just happenstance that Edmunds spotted the average interest rate for new-vehicle financing softening to its lowest level of the year in the same timeframe as the Federal Reserve making its first interest-rate cut in 11 years. Edmunds reported on Thursday that the average APR on new models financed during July declined for the […] [Read More]

According to data compiled by the National Automobile Dealers Association, the average amount of total expenses at a franchised store climbed by nearly $400,000 between 2016 and 2018 to above $6.8 million. During the span, the Federal Reserve raised interest rates eight times. While “Money and Smoke” might seem like the clever title for the […] [Read More]

As widely expected, the Federal Reserve cut the target range for the federal funds rate by 25 basis points to 2% to 2.25%, marking the first downward move by the Federal Open Market Committee (FOMC) in 11 years. A trio of experts who view the economy through the automotive prism and share their analysis with SubPrime […] [Read More]

As automakers continue their work in developing self-driving vehicles and moving toward greater electrification, J.D. Power says being aware of whether consumers are on the same road — and headed in the same direction — is important. “That doesn’t seem to be the case right now,” Kristin Kolodge, the executive director of driver interaction and human […] [Read More]