Sales & Marketing | Auto Finance News - Part 9

Westlake doubles down on dealer strategy

Dealers have stopped telling Westlake Financial Services to increase sales rep visits thanks to a move pushing face time and call frequency. The common dealer refrain of “we’re not hearing from you enough” prompted Westlake to overhaul its dealer strategy. Those efforts have paid off, said Westlake Senior Vice President of Sales and Marketing Mark Vazquez. “It’s gotten […]

More dealers use CarGurus, TrueCar than other digital platforms

When it comes to dealerships’ digital functionality and presence, CarGurus is the most widely used third-party digital platform, according to new data from an Auto Finance News dealer insights survey. The survey tapped a sampling of dealers nationwide to unveil digital trends directly from the showroom. Among dealers surveyed, 45% said they leverage CarGurus’ platform, a marketplace […]

Millennials, not taxes, get blame for India’s falling auto sales

Millennials’ preference for ride-hailing services such as Uber and Ola over owning cars, and not high taxes, is among reasons behind India’s slumping vehicle sales. That’s the argument advanced by Finance Minister Nirmala Sitharaman Tuesday when she spoke about steps the government has been taking to revive demand and bolster economic growth from a six-year […]

Citizens One ramps up CPO program

Citizens One Auto Finance has been revving up used-vehicle loan originations since launching its CPO program “a little over a year ago,” President Craig Lamp told Auto Finance News. Volume for the bank’s CPO program has “more than doubled,” Lamp said, adding that the program has exceeded company expectations. To that end, “a big chunk […]

Used-vehicle value index hits record high

The Manheim used-vehicle value index for the month of August rose to 141.3, a year-over-year increase of 1.2% and a record high. The index was propped up by lower-than-normal depreciation. Prices for 3-year-old vehicles declined in aggregate 0.5%, under the expected average of 1%. As a result, August reflected a “much stronger” used-retail market compared […]

Honda breaks sales record

American Honda posted the “best month of sales in company history” in August and set four different records, according to a release from parent Honda Motor Co. Between the Honda and Acura brands, the company sold 173,993 units, a 17.6% year-over-year increase, which “smashes all-time monthly sales records for total vehicles and trucks,” the release […]
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