Market volatility compresses independent dealer margins
7% average interest rate on vehicle purchases highest since 2008 recession
Volatile market conditions are squeezing independent dealers’ profit margins amid high interest rates, low used inventory and the inflation-spurred higher operations costs. Independent dealers are being affected by rising interest rates, Jeff Widholm, managing director of floorplan financing at First Business Bank, told Auto Finance News. Dealerships’ “floorplan costs are going up, and the [vehicle] […]
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