Tesla’s steep price cuts help get the used EV market humming
Since early last year, the cars rolling off Tesla Inc.’s California assembly lines have been selling for steadily lower prices. This has…
Credit tightening at CarMax Auto Finance paves way for ACL reduction
Ongoing credit tightening at CarMax Auto Finance paved the way for allowance for credit loss reductions as the lender’s portfolio…
Leasing drives EV adoption, but consumer skepticism persists
EV leasing has helped drive adoption, but more education is needed to win over skeptical consumers. “We have an EV…
Marine dealers report October sales decline
Retail marine sales continued to wane in September and October alongside declining wholesale RV values as powersports segments enter their…
Carvana originations soar 51%
Carvana’s second-quarter earnings showed significant gains in originations and sales. Originations totaled $3.1 billion, up 51.1% year over year and…
Sonic Auto, retailers indicate cyberattack effects could linger
Although it’s been a week since software provider CDK Global’s systems were restored following a cyberattack, some dealerships are still experiencing…
Cox Automotive sees credit access flat to start 2025
Cox Automotive reported the arrival of the January reading, coupled with a slight downward revision of December’s mark, left the Dealertrack Credit Availability Index flat on a sequential comparison. However, Jonathan Gregory, a senior manager on Cox Automotive’s economic and … [Read More]
Pre-tariff rush drives strong March sales, Q1 gains
Vehicle sales climbed for nearly every automaker in the first quarter as looming tariffs drove a March sales surge. The…
Biden’s newest rule on auto emissions set to boost electric car sales
The Biden administration moved Wednesday to throttle pollution from the nation’s cars and light trucks, imposing tailpipe emission limits so…
F&I Sentinel partners with defi SOLUTIONS, helping mutual clients with compliance needs
F&I Sentinel finalized a partnership with defi SOLUTIONS on Tuesday in a move designed to increase efficiency and accuracy through automation, while improving F&I product compliance for auto finance companies, dealers and product providers. Through the partnership, defi XLOS and … [Read More]
FTC gets federal court involved in complaint against debt-relief operation
The Federal Trade Commission is continuing to police operations that bill themselves as offering consumer debt relief. According to a news release, a federal court at the FTC’s request has temporarily halted an alleged debt relief services scheme that targeted … [Read More]
U.S. initial jobless claims dropped to lowest since May last week
Applications for US unemployment benefits fell to the lowest level since May last week, signaling there is still a healthy…
Big Wheels: Banks tighten standards as demand for auto loans wanes
Banks tightened lending standards for auto loans in the first quarter of 2024 while demand for consumer and car loans…
FinBe eyes $12M monthly origination volume, issues first ABS deal
Subprime auto lender FinBe USA is looking to grow originations volume on the heels of its first auto asset-backed securitization…
Under the Hood: Creating rewards programs to mitigate delinquencies
With the cost of living on the rise, consumers are… Under the Hood: Creating rewards programs to mitigate delinquencies