S&P Global Ratings confirmed that typical seasonal impacts helped collateral performance in the U.S. prime and subprime auto loan asset-backed securities (ABS) sectors to improve in March relative to February. Analysts indicated in their latest report that losses, delinquencies and recoveries performed better month-over-month due to seasonal trends, including consumers using tax refunds to catch up […] [Read More]

A new survey from CarGurus reveals that the first car buying experience of millennials starkly differs from that of previous generations. Compared to millennials, baby boomers were not only found to have been more involved when selecting their first car, but were also far more likely to have contributed to the purchase cost, the online automotive […] [Read More]

AutoNation president and chief operating officer Bill Berman has resigned, the company said in a news release Monday afternoon. The resignation was effective Monday, but Berman will continued to be employed by AutoNation in an advisory role through June 30. AutoNation chairman and chief executive officer Mike Jackson will take on operating responsibilities and the […] [Read More]

AutoMobility LA has announced that it is now accepting submissions for its 2017 Top Ten Automotive Startups Competition, which recognizes startup companies that have impressive innovations with the potential to shape the future of the new transportation industry. The competition’s finalists will be named just before the 2017 AutoMobility LA show, which will take place […] [Read More]

Along with some insight regarding behavior of new college graduates, Swapalease.com on Monday reported credit applicants for vehicle lease transfers dropped in April on both a sequential and year-over-year basis. However, the downward movements didn’t surprise site officials. The site indicated applications coming into its pipeline registered only a 60.0 percent approval rate for April, […] [Read More]

Since introducing its services to 17 cities in the past year-and-a-half, Maven has expanded its operations in New York City in order to offer residents Maven City, its fully connected car-sharing solution, the General Motors brand announced on Monday. "New York City has been part of the fabric of Maven since we launched the brand here in […] [Read More]

So far this year, a wide array of investment analysts are asking finance companies that bring in any non-prime or subprime paper about their current risk appetite. Another occasion came when Santander Consumer USA hosted its quarterly conference call recently, in which the finance provider reported a total year-over-year origination volume drop of 21 percent […] [Read More]

A fifth person has died from a crash earlier this month at Lynnway Auto Auction in Billerica, Mass. In a statement released on Saturday evening, Middlesex District Attorney Marian Ryan and Billerica Chief of Police Daniel Rosa said Ruben Espaillat, 55, died Saturday at Lahey Hospital. The DA’s office, Billerica Police and the Massachusetts State […] [Read More]

Whether they’re hauling surfboards in California, trekking mountains in Carolina or navigating the Capital Beltway, used-car shoppers, as it turns out, are apparently big fans of the Jeep Wrangler. CarMax looked at search data from its website and found that, so far this year, the Wrangler has been the most-searched-for used vehicle nationwide. It wasn't […] [Read More]

Fiat Chrysler said on Friday that the automaker is voluntarily recalling an estimated 1 million trucks in the U.S. and more than 200,000 units in Canada to reprogram computer modules that help control restraint-system deployment in rollover situations. Affected vehicles are certain 2013 through 2016 Ram 1500 and 2500 pickups, and 2014 through 2016 Ram […] [Read More]