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. +
Ford has followed General Motors by unwinding a program intended to claim expiring $7,500 federal EV tax credits for future customers under pressure from U.S. Sen. Bernie Moreno. +
Executives say increased financing options with familiar partners will help Amazon-partnered Hyundai dealers reach more used car buyers and sell more F&I products. +
GM tells Bloomberg the factory will replace the expired $7,500 federal EV tax credit with $6,000 in “lease support” cash following unrelated reports of a similar move at Stellantis. +
