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4 Auto Initiatives to Watch in 2019

While slowing car sales, an unpredictable tariff war, and a growing affordability issue could all make for a tough 2019, there are a number of auto initiatives that are looking to take off next year. Among them: Fair The used-car leasing app company has its sight set on global expansion in 2019 – and it’s […]

AutoNation Leads $146M Funding Round In Vroom

New- and used-car dealership chain AutoNation is the lead investor in Vroom’s $146 million series G funding, announced today. Other investors were T. Rowe Price, L Catterton, General Catalyst, and Fraser McCombs Capital. In October, AutoNation had pumped $50 million into Vroom in exchange for a 7% stake. Vroom CEO Paul Hennessy told Auto Finance […]

Is That the Smell of Compounding Risk?

If you only looked at GM Financial’s origination volume last week, you would think auto finance was continuing on its boom-time ways. GMF grew its North American originations 19% last quarter to around $11 billion, according to company earnings released last Friday. Sing Hallelujah! Well, don’t lose your voice yet. There is a wellspring of heightening […]

An F&I Revolution is Coming [SPONSORED]

Can you remember the last time you walked into a fast food restaurant and they filled your drink order? It was a short few years ago when the restaurants started handing you a cup and you dispensed the ice and your drink of choice.  The shift happened as consumers demanded a better, quicker experience.  Now, […]

Ally Provides Auto Financing For Wal-Mart Program

Ally Financial Inc. will be the preferred lender for a new online car buying platform called CarSaver, which is partnering with the nation’s largest new-vehicle vendor — AutoNation Inc. — as well as the nation’s largest retailer — Wal-Mart Stores Inc. — an Ally representative confirmed to Auto Finance News. The online platform works much like […]

Emerging Debate: Incentives and Discounting Too High?

Blockbuster yearend sales were “more push versus  pull,” said Mike Jackson, chairman of the nation’s largest auto retailer, AutoNation Inc. Jackson warned investors in a note last week that AutoNation expects “significant margin declines” for the fourth quarter. He said the group would take “necessary steps” in 2016 “to align our costs, inventory, and pricing strategy.” […]

Dealer Groups Gain in F&I Per Vehicle

On Thursday, Penske Automotive Group reported barely higher average F&I revenue per vehicle of $1,098, up $2 from a year ago, making six out of six publicly traded groups that showed a year-ago improvement for the third quarter. On Wednesday, AutoNation Inc. reported a company record $1,549 per vehicle, up 10% from a year ago. Earl Hesterberg, president and […]

AutoNation to Take Auto Finance Digital Next Year, CEO Says

AutoNation, the largest dealership group in the U.S., plans to add auto finance to its digital storefront, called AutoNation Express, by 2016, according to Chief Executive Mike Jackson. The first phase of the digital initiative — the ability to identify and reserve a specific vehicle online — was completed six months ahead of schedule, Jackson […]
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