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Dealership Profits Decline
While new and used retail sales stagnated, dealerships have been particularly supported by fixed operations and finance-and-insurance profits, according to a new report.
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SEARCHMENUSEARCHWhile new and used retail sales stagnated, dealerships have been particularly supported by fixed operations and finance-and-insurance profits, according to a new report.
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iA Financial Group announced the acquisition of IAS, an F&I products and services provider that counts 4,300 dealers in all 50 U.S. states.
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Experian analysts say buyers of pre-owned vehicles accounted for 55.15% of all U.S. auto loan originations in the third quarter, a 2.4% year-over-year increase.
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National Auto Care announced the launch of NAC Connect, a new vehicle service contract that includes one year of free telematics service.
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Edmunds analysts say Black Friday promotions helped suppress new auto loan interest rates last month, registering a year-to-date low of 5.5% and an 8.3% year-over-year decline.
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A joint statement from the nation’s biggest banking regulators expressed cautious optimism toward emerging decisioning models that could generate more auto loans.
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All but a few Asian and highline factories reported double-digit gains in U.S. sales last month, priming the industry for a big December and a fifth straight 17 million-unit year.
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Understory has released Auto – Hail Safe, a new hail insurance product designed to combine ground-truth weather detection with new coverage and claims technology.
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Kelley Blue Book reports the average cost to buy a new vehicle was $38,393 last month, a 1% year-over-year increase restrained by frantic efforts to move 2019-MY inventory.
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Black Book reports retained values for used vehicles decreased sharply last month. If the index holds through December, it will end 2019 on a year-over-year decline of nearly 2%.
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Why wait for slow times to mine your database? Expert offers a four-step plan to make data mining a full-time profit center — and all you need is a process and a champion.
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