The San Francisco 49ers’ Trent Williams stands accused of fraud and breach of contract for allegedly failing to make payments on a missing Porsche 911. +
Subaru announced plans to form a new captive finance company that will offer loans, leases and floorplan financing to U.S. and Canadian dealers. The factory will extend partnerships with Chase and Toyota to facilitate the transition. +
Analysts say strong product sales, back-end profits and F&I income helped U.S. dealers offset an average front-end gross that fell to a nearly four-year low in the fourth quarter. +
Record numbers of new and used vehicle buyers committed to a monthly payment of $1,000 or more in the fourth quarter, but interest rates ticked down for both groups. +
Experian Automotive’s Q3 auto finance report finds EVs were leased at a significantly higher rate than a year ago, setting the stage for a future disruption to the used car market. +
Cox Automotive’s Q4 Automotive Dealer Sentiment Index finds dwindling optimism among retailers as escalating costs, prices and uncertainty affect profits and consumer confidence. +
U.S. dealers enjoyed gains in F&I profit per vehicle retailed, products per deal and monthly F&I income in the third quarter, offsetting losses in average front end gross and total gross per vehicle. +
Ford dealers in select cities have a new marketplace for certified pre-owned units: Amazon Autos, where shoppers can secure financing, start their paperwork and schedule a dealership visit. +
Team Velocity and VINCUE have partnered to launch Trade Cycle Intelligence, a new, AI-based solution designed to target and engage customers who may be in the market for a new vehicle. +
Carleton’s Tim Yalich urges dealers and finance sources to face the “critical reality” of the complexity, challenges and profitability risk that underlies lease payment calculations. +
