Here’s at least one segment of the automotive industry that’s remaining relatively steady amid the coronavirus pandemic. On Thursday, Swapalease.com reported its vehicle-lease credit applicants registered an approval rate in March of 69.3%, representing just a slight decline from the February rate of 72.3% and January’s reading of 70%. March also generated a slight decrease […] [Read More]

All of CarMax’s more than 215 stores nationwide are now open in some capacity. The company announced that all stores are serving customers in need of vehicle service or repair work. In addition, more than 80% of CarMax’s stores across the country are serving customers needing to buy or sell a vehicle. CarMax said it […] [Read More]

This week, Federal Trade Commission chairman Joe Simons released a summary of the agency’s 2019 annual highlights, calling attention to the commission’s ongoing efforts to protect consumers and promote a competitive marketplace. By far the largest sum included among the judgments the FCC specified in the monetary relief category stemmed from the settlement federal officials […] [Read More]

Along with four overall observations and projections about sagging used-vehicle values, Edmunds senior manager of insights Ivan Drury also pointed out the impact made by what he called the “invisible market.” Drury and Edmunds’ other analysts say that a sudden halt in demand for vehicles combined with economic uncertainty will lead to an initial knee-jerk […] [Read More]

As a whole, the used-car market is struggling. But data from LotLinx shows a silver lining. "Bad news is, sales are down 50% in used across the country," says LotLinx CEO Len Short. "But when you start to drill down to the markets, you'll see that there are a whole bunch — over half — […] [Read More]

A downloadable dealership performance directive from DealerMax discusses six “essential online sales processes” that it says are a requirement for the new online sales retail environment. Dealership support company DealerMax said its team of digital retail experts wrote the guide, titled, “Dealership 2020 Guide: Re-engineering Automotive Retail.” The team wrote the guide to give dealers […] [Read More]

Jay Maxwell, general manager of strategic operations of the Costco Auto Program, joins the show to discuss how the program and its partner dealers have adapted to COVID-19 stay-at-home orders, keeping customer, vendor and employee communication lines open and more. Plus, Maxwell shares some automotive success stories. To listen to this episode, click on the […] [Read More]

To support its dealer partners during the COVID-19 pandemic, TrueCar announced an extension for May invoices of the previously announced 50% automatic reduction to the April invoices of dealer partners in states where its pay-per-sale or performance-based billing arrangements are not currently available.  In a letter to dealers that are on TrueCar’s subscription billing model, […] [Read More]

Off-lease volumes were already going to be a tough hurdle for the Canadian auto market to maneuver this year, even before COVID-19. But the impact of the pandemic certainly heightens the concerns around what is expected to be two “peak years” for off-lease volume, as analysis this week from Canadian Black Book illustrates. Lease terminations […] [Read More]

While the latest overall auto-finance default reading came in at the lowest point in the past 10 years, Agora Data tried to generate more clarity about delinquency specific to the buy-here, pay-here industry. Through which AgoraInsights shared exclusively with BHPH Report this week, Agora Data used its newest feature to track the impact of COVID-19 since […] [Read More]