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Used Autos Selling for More
A recent price spike due to several larger market forces, though it hasn’t dulled demand, is pushing more consumers to efficient models to squeeze in buys.
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SEARCHMENUSEARCHA recent price spike due to several larger market forces, though it hasn’t dulled demand, is pushing more consumers to efficient models to squeeze in buys.
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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.
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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.
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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.
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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.
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Cox Automotive’s latest Dealer Sentiment Index shows a marked disparity in optimism and fear factors between America’s new- and used-car dealers.
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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.
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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.
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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.
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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.
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Mark E. Rooney, an attorney whose practice focuses on consumer litigation defense and government investigations in the financial services industry, has joined the Washington, D.C., office of Hudson Cook LLP.
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