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Edmunds: Stage Set for Market Contraction

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Auto Loan Interest Rates Soar to Eight-Year High

SANTA MONICA, Calif. — Interest rates on new-vehicle loans were expected to soar to their highest point in eight years in February, Edmunds said last week. The annual percentage rate (APR) on new financed vehicles averaged 5.2% in February. That’s up from 4.9% in 2017 and 4.4% five years ago. Edmunds experts point to an ... Read More »

Lease Volume Reaches Record High in 2016, Edmunds Reports

SANTA MONICA, Calif. — Automotive lease volume reached an all-time high of 4.3 million vehicles in 2016, according to the latest Lease Market Report from Edmunds, account for 31% of new-vehicle sales in 2016. That’s up from 29% in 2015. Over the past five years, lease volume has grown by 91%. And as the popularity ... Read More »

Last Chance: Podium to Present Webinar on Online Review Management

TORRANCE, Calif. — On Thursday, February 16, 2017, at 11:00 PT/2:00 p.m. ET, Podium will host a free webinar “7 Quick ways to drive purchase decisions with online reviews,” with Director of Automotive Sales Dan Wright and Vice President of Marketing Nico Dato. We all know that selling cars is a competitive business, so standing out ... Read More »

Edmunds Updates App with Messaging Platform

SANTA MONICA, Calif. — Edmunds.com has updated its mobile app with a new feature that allows shoppers to send text messages to dealers. Edmunds texting solution uses a phone’s native texting platform, meaning all smartphones are capable of messaging dealers without relying on any other apps. Edmunds says that 34% of car shoppers told the company ... Read More »

Edmunds Pulls Ad Campaign, Says It ‘Missed the Mark’

SANTA MONICA, Calif. — Edmunds today pulled an online advertising campaign designed to promote its Price Promise program after backlash from dealers. The campaign, which was launched Monday, included four YouTube videos that depict a cashier trying to overcharge customers for items at a grocery store, then haggling with shoppers who refused to pay. At ... Read More »

Edmunds No. 4 Most Trusted Review Site, New Study Shows