Fitch Ratings offered some sullen — and perhaps not surprising to some executives — metrics and observations about U.S. subprime auto ABS performance. Analysts reported on Thursday that performance continues to weaken, with delinquencies and losses trending higher and recovery rates falling. “Delinquency and net loss metrics typically improve between January and April as borrowers […] [Read More]

Wholesale vehicle prices fell nearly 12% year-over-year in April and have continued modest month-over-month declines in May, according to the latest Kontos Kommentary report from ADESA chief economist Tom Kontos. Overall wholesale values last month came in at $14,559, down 11.7% from the April 2023 average of $16,468, according to the report. Prices were down […] [Read More]

How important is a good photo on a vehicle display page? Automotive photo, video and data collection company Redline decided to find out, and its recent survey showed consumers believe it’s very important. The survey of 372 adults — including respondents who indicated they had shopped online for a vehicle in the past three years […] [Read More]

DAS Technology’s collaboration with General Motors is going deeper. All the way down into the data mine. The automotive technology company announced it’s expanding its partnership with GM by joining the automaker’s equity mining program. DAS said its consumer data and experience platform, CDXP Complete, includes equity mining capabilities such as matching customers with equity […] [Read More]

SafePoint Dealer Services recently launched several new features designed to give dealerships control over communication with their customers while increasing monthly service revenue by 10-15% monthly. With newly enhanced GPS tracking and monitoring tools, alongside robust connected vehicle technology, Safepoint dealerships can take advantage of the following benefits: —A direct communication channel between the dealer […] [Read More]

The fall continues for wholesale vehicle values. Canadian Black Book’s weekly Market Insights report for the week ending May 18 showed another decrease in Canadian wholesale prices, with an overall drop of 0.38%. Two segments fell more than 1% in value in a week — compact vans (down 1.26%) and sub-compact cars (down 1.19%) — […] [Read More]

Along with three other major findings, the second annual Lending Enablement Benchmark Report from Open Lending Corp. gave this bottom line. The near- and non-prime market share has reached a five-year low. Open Lending highlighted that in 2019, near- and non-prime consumers represented 20% of new, newly registered vehicles. By the end of 2023, researchers […] [Read More]

Nissan Canada has entered into a strategic partnership with Cricket Canada that makes Nissan the official automotive partner of the sport’s Canadian governing body and its men’s and women’s national teams. The organizations said the alliance “merges automotive innovation with Canadian sports excellence” and “aims to elevate Canadian cricket for fans across the country.” “Nissan […] [Read More]

In recent years, several automakers have expanded the age eligibility limits for vehicles in their respective certified pre-owned programs. And although there’s room for improvement, dealers are improving the customer experience in the service department. Both are good signs, given what S&P Global Mobility discovered about the average age of vehicles on the road. At 12.6 […] [Read More]

Rick Case Honda has reached an unprecedented milestone. The dealership in Davie, Fla., was presented with the Honda President’s Elite Award for the 16th consecutive year, the most ever for a volume Honda dealer. The award is based on the overall dealership performance, including volume, operational excellence, customer satisfaction and facility. President’s Award status is […] [Read More]