Kevin Warsh joined a unanimous vote to hold the Federal Reserve’s target lending rate at 3.5% to 3.75% and warned inflation could force an increase. +
CDK's latest full-year report finds 90% of surveyed car buyers were satisfied with the time spent in F&I and only 6% felt overwhelmed by the process. +
A narrowing yield spread and a remarkable recovery in approval rates pushed Dealertrack’s Credit Availability Index to 103.7 in May, improving by 7.3% year over year to reach its highest level since April 2022. +
The owner of Sun GMC claims General Motors is starving the Long Island rooftop of the inventory it needs to remain in business and meet factory sales targets. +
Kelley Blue Book reports an average transaction price of $49,220 in May, down 0.5% from April but up 1.2% year over year amid heavier incentive spending. +
A New York City agency announced that Honda of the Bronx has agreed to settle a lawsuit alleging more than 350 violations of consumer protection laws. +
A Carleton survey of consumer finance executives finds 87% are in the process of modernizing aging legacy systems and only 8.7% have finished. +
The owners of Stephen Cadillac GMC and Stephen Toyota must pay Toyota Motor Credit $5 million or face the seizure of their land and dealerships. +
A new Protective Asset Protection survey finds car buyers are experiencing financial anxiety driven in part by fears over the high cost of unexpected repairs. +
Experian analysts say sales of full-size trucks, vans and sports cars pushed $1,000 monthly payments to nearly 19% of all auto loans in the first quarter. +
