Equifax indicated in its most recent National Consumer Credit Trends Report just how much subprime loan paper is being pushed through vehicle financing market nowadays. The latest data Equifax had available from the third quarter shows that approximately 30 percent of all auto loans originated today fall into subprime, which the bureau defines as consumers […] [Read More]

A high-ranking official from the Consumer Financial Protection Bureau is among the speakers on tap to be a part of American Financial Services Association’s 18th annual Vehicle Finance Conference and Exposition set to begin on Jan. 22 at the Sheraton New Orleans. AFSA highlighted Patrice Ficklin, assistant director of the CFPB’s office of fair lending, […] [Read More]

The ability of subprime customers to obtain vehicle financing helped the used-vehicle industry finish the year on the upswing as December capped an overall great year for the pre-owned market and pushed the full-year sales total above 40 million units. Specifically, used-car sales closed 2013 at just under 42 million units, according to CNW Research. […] [Read More]

As a new year began this week, Scotiabank reported its sales predictions for 2014. Expected to break a record this year, Scotiabank predicts new-car purchases in Canada will edge up to 1.76 million units in 2014, surpassing 2013’s peak of 1.75 million. "Purchases in Canada are expected to edge up to a record 1.76 million […] [Read More]

Cox Enterprises has purchased Providence Equity Partners’ 25-percent equity interest in AutoTrader Group, meaning it now has 98-percent ownership in the group that includes such entities as AutoTrader.com, Kelley Blue Book and vAuto. The definitive agreement was announced this morning. The remaining 2 percent of the AutoTrader Group is held by current and former employees. […] [Read More]

As 2013 wrapped up, certified pre-owned luxury units remained scarce across the country. And increasingly cold weather seems to have ramped up demand for some larger models, as well. According to the latest installment of vehicle scarcity data that is provided monthly to Auto Remarketing by AutoTrader.com, Porsche holds the top three national spots on […] [Read More]

Given the deal announced Wednesday for Fiat to gain 100-percent ownership of Chrysler Group, their collective dealers are likely to enjoy a broader and improved lineup of cars to offer consumers. Not only that, this new-and-improved offering may reach dealer lots in a more timely fashion. Such is the outlook that at least some industry […] [Read More]

With both Christmas and New Year’s Day each falling directly in the middle of the business week this year, Black Book editorial director and senior vice president Ricky Beggs discussed the definitive impact that timing left in the lanes. During his most recent online video commentary, Beggs said, “Sure, the overall activity has been reduced, […] [Read More]

At a recent 20 Group meeting of Chevrolet dealers, a dealer told me that the average front-end used-vehicle gross profit for the group was down $275, while expenses were up 11 percent. The dealer then asked a question that I’ve heard multiple times in recent months: “Dale, what can we do about this? I got […] [Read More]

Hyundai Motor America recently announced its president and chief executive officer John Krafcik would be stepping down as of Dec. 31. Filling the role in 2014 is David Zuchowski, former executive vice president of sales for the company. Zuchowski assumed the position Jan. 1. The new president and CEO joined the company in Feb. 2007 […] [Read More]