The latest monthly index from Fitch Ratings indicated delinquencies and losses fell again for both U.S. prime and subprime auto ABS last month, though analysts noted losses are still higher year-over-year. Fitch reported that subprime 60-day delinquencies declined 11 percent month-over-month to 3.70 percent in April. But they were 15 percent higher versus a year earlier. […] [Read More]

With fewer weekends to move metal, most used- and new-vehicle sales projections from TrueCar, Edmunds.com and Kelley Blue Book consisted of varying degrees of softening against year-ago results. However, TrueCar’s used-vehicle sales projection for May was a bit upbeat as analysts expect this month’s total sales — including franchised and independent dealership turns as well […] [Read More]

DRIVIN, a service for dealers that utilizes data to help sell, source, acquire and deliver quality used vehicles for its partners, announced on Thursday that it has raised an additional $7.5 million in equity capital. Launched in mid-2015, the Chicago-based automotive start-up has now raised a total of $17.5 million in funding.  The latest round […] [Read More]

Charlie Wise, vice president of TransUnion’s innovative solutions group, acknowledged that if auto finance executives examine industry-wide data, it’s likely they will focus their attention on vehicle financing, watching metrics such as originations and delinquencies. But Wise suggested that auto finance executives watch mortgage trends, too, based on findings from TransUnion’s latest project released on […] [Read More]

ADESA, a business unit of KAR Auction Services, has named Richard Griskie as chief information officer. The company highlighted on Thursday that Griskie will oversee the operation of information technology systems for ADESA and several subsidiary businesses within the KAR Auction Services group of companies. He also will contribute to the management and direction of the […] [Read More]

Leading into the 18th annual National Conference for BHPH hosted by the National Alliance of Buy- Here, Pay-Here Dealers, we spoke with Ken Shilson, the president and founder of NABD, about a host of issues impacting operators. BHPH Report asked Shilson about the diminishing market presence BHPH dealers possess nowadays, how moves made by investment […] [Read More]

While also pinpointing where delinquencies are climbing the fastest, TransUnion’s latest Canada Industry Insights Report found that the average Canadian’s auto loan debt climbed by 2.12 percent year-over-year during the first quarter. The Q1 figure came in at $19,538, up from $19,132 a year earlier. Analysts noticed that the average non-mortgage debt level rose by […] [Read More]

A new survey from AutoMD.com indicated that the lengthening vehicle ownership cycle is impacting vehicle purchasing. Conducted online among more than 1,000 vehicle owners, the survey revealed that 59 percent of participants who said they planned to purchase within six months would be opting for a pre-owned vehicle, with three quarters saying that their purchase decision […] [Read More]

The real view of the RVI Used Vehicle Price Index showed an increase in wholesale vehicle prices of 0.6 percent in April when compared to March. When compared to April of last year, the index fell by 5.5 percent. When looking at the nominal view of the Used Vehicle Price Index, the reading ticked up […] [Read More]

Midsize cars and compact cars combined to make up more than two-fifths of certified pre-owned sales in the first quarter, according to Edmunds.com. In the company’s Q1 Used Vehicle Market Report released last week, these two vehicle types led the list of 10 largest CPO segments, with midsize cars claiming a 21.1-percent share of the […] [Read More]