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AutoCanada finished fiscal year with revenue up, used-car sales down
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Used EV prices fall 32% at retail, 15% in wholesale
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New TD Auto Finance executive to focus on expansion in OEM sector in new sales, strategy position
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Premium Articles
Used-car sales down slightly in July, but continue strength
Thursday, Aug. 8, 2019, 04:32 PM
Joe Overby, Senior Editor
The overall used-vehicle sales market was a bit slower in July, but the seasonally adjusted annualized rate is still tracking towards 40 million, and dealers are enjoying strong used-car operations. Not to mention, the used retail SAAR was up from June and year-ago figures, and the public dealer groups are showing strength in used-car sales. […] [Read More]
Lane watch: Summertime value declines accelerate
Wednesday, Aug. 7, 2019, 05:19 PM
Auto Remarketing Staff
With this past week marking roughly about a third of summertime unofficially remaining, the juncture also represented a span when values for both cars and trucks softened at greater rates than earlier in the season, according to the newest Black Book Market Insights report. Based on volume-weighted information, analysts discovered overall car segment values decreased […] [Read More]
With nearly 80% of execs wanting AI in auto-financing platform, 7 steps to build software
Wednesday, Aug. 7, 2019, 03:57 PM
Auto Fin Journal Staff
As an evaluation firm articulated the top seven steps to follow within a software development life cycle, a provider of cloud-based software solutions for all financial institutions announced the results of its latest survey focused on the need for artificial intelligence (AI) in auto financing. Inovatec Systems Corp. released its study findings this week that […] [Read More]
S&P Global Ratings explains why risk within prime ABS is intensifying
Tuesday, Aug. 6, 2019, 02:36 PM
SubPrime Auto Finance News Staff
Typically, the most risk in auto loan asset-backed securities (ABS) resides in the subprime space stemming from the lower credit tiers connected to that paper. Well, S&P Global Ratings is seeing risk grow within prime ABS, too. Because finance companies are addressing consumers’ shifting preference for larger, more expensive vehicles by extending contract terms up to […] [Read More]
Noticeable segment moves even as Black Book July index remains flat
Tuesday, Aug. 6, 2019, 02:30 PM
Auto Remarketing Staff
At the highest level, Black Book’s Used Vehicle Retention Index remained steady in July compared to June, as analysts pegged the latest reading at 115. However, looking deeper into the data, Black Book uncovered some notable value movements, mentioning four vehicle segments in particular. Analysts noticed values of compact crossovers (up 0.82%) and sporty cars […] [Read More]
Used-car sales likely to dip slightly this year, but still reach a ‘strong’ 39 million
Friday, Aug. 2, 2019, 03:24 PM
Joe Overby, Senior Editor
Used-vehicle sales are likely to reach 39.0 million for full-year 2019, still a healthy tally, but it would be down 1.1% from last year. That’s according to Oliver Strauss, who is chief economist for the ALG subsidary at TrueCar. There were 39.43 million used-car sales last year, he said. “Overall demand for vehicles has gone […] [Read More]
New-model APR sinks to lowest point of year, coinciding with Fed action
Thursday, Aug. 1, 2019, 07:53 PM
SubPrime Auto Finance News Staff
Perhaps it’s just happenstance that Edmunds spotted the average interest rate for new-vehicle financing softening to its lowest level of the year in the same timeframe as the Federal Reserve making its first interest-rate cut in 11 years. Edmunds reported on Thursday that the average APR on new models financed during July declined for the […] [Read More]
How dealers might be biggest beneficiary from Fed rate cut
Thursday, Aug. 1, 2019, 04:26 PM
Nick Zulovich, Staff Writer
According to data compiled by the National Automobile Dealers Association, the average amount of total expenses at a franchised store climbed by nearly $400,000 between 2016 and 2018 to above $6.8 million. During the span, the Federal Reserve raised interest rates eight times. While “Money and Smoke” might seem like the clever title for the […] [Read More]
3 auto experts dissect potential impact of first interest-rate cut in 11 years
Thursday, Aug. 1, 2019, 03:04 PM
Nick Zulovich, Senior Editor
As widely expected, the Federal Reserve cut the target range for the federal funds rate by 25 basis points to 2% to 2.25%, marking the first downward move by the Federal Open Market Committee (FOMC) in 11 years. A trio of experts who view the economy through the automotive prism and share their analysis with SubPrime […] [Read More]
Study shows consumers ‘shaky’ about future of self-driving vehicles
Wednesday, Jul. 31, 2019, 07:56 PM
Auto Remarketing Staff
As automakers continue their work in developing self-driving vehicles and moving toward greater electrification, J.D. Power says being aware of whether consumers are on the same road — and headed in the same direction — is important. “That doesn’t seem to be the case right now,” Kristin Kolodge, the executive director of driver interaction and human […] [Read More]