If you were looking for upbeat news about auto finance payment performance or the economy in general, Kroll Bond Rating Agency (KBRA), Fitch Ratings and Comerica Bank didn’t have too much to offer last week. While Fitch shared its expectations for when an official recession might arrive, and Comerica discussed inflation, KBRA indicated that September […] [Read More]

Used-vehicle sales fell 9.2% year-over-year in September and are trending toward a full-year tally more than 12% softer than that of 2021, according to Cox Automotive. But there remains some positive signs, particularly late last month, which saw an uptick in the rolling 30-day retail sales for used cars, according to the company’s Manheim Market Insights […] [Read More]

While certified pre-owned (CPO) programs appear to be more important than ever for executives of mass market and premium brands given production disruptions that have limited supply of new vehicles, two distinct narratives are playing out, according to a recent Voice of the Experts (VoE) report from the J.D. Power Valuation Services group. Most premium […] [Read More]

TrueCar announced last week that it has added an accessories menu to its TrueCar+ online car buying platform, which is currently available in Florida. The company said more than 12,000 hardware parts are now available on the platform. “Accessories are another way of customizing the online vehicle purchase to each individual buyer, while offering additional […] [Read More]

Nacha commissioned a study earlier this year to determine how younger consumers are securing their income that’s key to lining up auto financing and maintaining monthly payments. The organization that governs the ACH Network learned that the sizable majority of the nation’s younger millennials are paid by direct deposit. But Nacha’s study also revealed a stark […] [Read More]

Point Predictive chief fraud strategist Frank McKenna returned for his monthly visit on the Auto Remarketing Podcast. With Halloween a week away, McKenna explained what “scary” financial things such as phantom loans and the dark web are and how they can greatly impact auto financing. To listen to the conversation, click on the link available below, […] [Read More]

Perhaps dealerships and other segments of the auto finance and retail spaces can take solace in the dissenting statement from one of the former leaders of the Federal Trade Commission, which ordered a Washington, D.C.-area dealer group to pay more than $3.3 million in penalties over “junk fees” and alleged discrimination. Last week, the FTC […] [Read More]

The numbers around new-car affordability (or lack thereof) are quite staggering. According to data from Cox Automotive and Moody’s, to buy a new car in September would have taken 42.2 weeks of median income. That’s up 9% year-over-year, Cox said in a Data Point report, also noting that auto finance interest rates were at their […] [Read More]

In response to continued industry demand for used vehicles, Penske said Friday that it increased the footprint of its network of used truck centers. And perhaps the third quarter ComTrend analysis from Work Truck Solutions of new and used commercial vehicles reinforced why the publicly traded company made this decision. Work Truck Solutions indicated that […] [Read More]

Black Book regularly recaps what happened during the previous week within the wholesale market, as highlighted in this previous report. On Friday, the division of Hearst announced an expanded data offering for its residual valuations, looking forward as long as 10 years. Previously, Black Book said residual values were available for up to seven model […] [Read More]