Swapalease.com reports a high number of applicants and a slightly tighter credit market in August. A 68.9% approval rate fell short of July’s 69.1% and represented a 5.1% year-over-year decline.
PAR North America announced an expansion of its partnership with masterQueue, adding the latter’s skip tracing technology in an effort to increase recovery rates.
Stock are on the rise following the second quarter-point reduction to the federal funds rate in less than two months. No further cuts are planned for this year or next, guaranteeing further pressure from the White House.
Motorcars Honda of Cleveland Heights has been purchased and renamed by the nine-store Foundation Automotive group. The Ohio store was recognized by BP as the world’s first carbon-neutral auto dealership in 2016.
Generali US Branch’s Specialty Insurance Division will offer insurance and obligor services for warranties and service contracts on a global scale in multiple verticals, including automotive F&I.
Shiraaz Sookralli faces 20 years in prison after admitting to charges of fraud and embezzlement relating to a multimillion-dollar scheme to sell nonexistent Porsches from a South Florida dealership.
EFG Companies’ Signature Finish Elite Appearance Protection targets traditionally unprotected surfaces, including body panels as well as glass, chrome, and rubber.
General Motors’ Website Choice Program now includes Dealer.com, which offers dealer websites as well a range of digital marketing solutions.
Cox Automotive’s latest Dealer Sentiment Index shows a marked disparity in optimism and fear factors between America’s new- and used-car dealers.
The Equal Employment Opportunity Commission claims a dealer group executive said ‘This is not a lady’s job yet’ to justify failing to retain the only woman on the sales team at a Norman, Okla., Chrysler dealership the group acquired.
A new infographic from LoJack illustrates how GPS-powered inventory management maximizes front-end profits, drives customer retention and service revenue, and reduces lost loyalty.
Haig Partners’ Q2 report charts an astonishing 60% drop in buy/sell activity among U.S. auto dealerships and finds privately held stores and groups are increasingly focused on pre-owned sales.
An Equifax review of auto finance data from the first four months of 2019 found subprime’s percentage of total originations fell to 22.7% for all purchases and 9.2% of new-vehicle leases.
AAA analysts say bigger price tags and higher interest rates have conspired to raise American new-car buyers’ average annual total cost of ownership to $9,282, an all-time high and a 24% year-over-year increase.
Kerrigan Advisors’ latest Blue Sky buy/sell report counts 49 transactions in the second quarter, a slight decline from Q1 but enough to maintain a 200-plus-transaction pace for 2019.
Kelley Blue Book editors rank and comment on the 10 Best Back-to-School Cars for 2019, all starting at around $20,000 or less and still available on new-car lots.
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