Clutch Looks To Increase the Number of OEMs, Dealers on Its Subscription Platform by Year’s End

Clutch is aiming to increase the number of OEMs and dealers using its subscription platform by the end of the year, according to Mark O’Neil, chief operating office at Cox Automotive, which purchased the technology company in August. To date, Clutch has signed on BMW, Mercedes-Benz, and Porsche. O’Neil said the company is in discussions […]

Clutch Expands Porsche Subscription Program to Include Hourly, Weekly Rentals                                   

Following its acquisition of fleet-management company Clutch Technologies, Cox Automotive is broadening its program with Porsche to include hourly and weekly rental rates. The expansion provides insights into the philosophy of Cox’s Mobility Solutions unit as OEMs and dealerships embrace subscription programs, President Vince Zappa told Auto Finance News. “When you start to think of […]

Record High Price Trend in Used-Vehicle Market Set to Cool This Fall

The wholesale market saw an unusual uptick in the price of vehicles this past quarter. Manheim documented an abnormal appreciation trend starting in June and running through September. Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 0.14% month-over-month in September, according to Manheim. This represents a record high and brought the […]

Cox Automotive Boosts Ancillary Product Compliance for Lenders With Acquisition

Cox Automotive Inc. announced the acquisition of Texas-based Intersection Technologies Inc., better known in the industry as F&I Express, the companies announced on Monday afternoon. The acquisition is a move for F&I Express to access more of the resources that Cox can provide, including a large lender and dealer client base. Those clients can now leverage […]

Hurricane Florence to Damage Up to 40,000 Vehicles in Its Wake

As Hurricane Florence hits the Carolinas and surrounding areas, the flooding could damage 20,000 to 40,000 vehicles, according to forecasts from Black Book and Cox Automotive. “The losses are set to cause demand for cars to push higher as consumers rush to replace damaged vehicles,” Anil Goyal, executive vice president of operations for Black Book, […]
  • Nicole Casperson
  • September 26, 2018
  • Risk

Used Car Dependability on the Decline in China

The reliability of used cars in China is regressing, according to a J.D. Power study released Thursday. The finding underscores the challenges for lenders seeking to increase their penetration into the second-hand market. J.D. Power’s 2018 China Vehicle Dependability Study tracks the number of problems experienced per 100 vehicles (PP100) on 30- to 48-month-old vehicles […]
  • William Hoffman
  • September 21, 2018
  • Asia

Hurricane Florence Impact on Auto Finance Uncertain, OEMs Suspend Operations

Hurricane Florence’s inevitable impact on the auto industry is still uncertain as the storm makes it way through the east coast, but early estimates predict North Carolina could lose 20,000 to 40,000 cars if the storm maintains its current path, said Jonathan Smoke, chief economist for Cox Automotive. Economist and analysts are basing their forecasts […]
  • Nicole Casperson
  • September 13, 2018
  • Risk

China Used-Car Market Poised for Boom Following New-Car Sales Surge

SHANGHAI — The used-car market in China is poised for growth, but there are risks to overcome along the way, according to several speakers at the Auto Finance Summit Asia 2018 today. Secondhand car sales were up nearly 20% year over year to 12.4 million units, but the majority of those deals continue to be cash […]
  • William Hoffman
  • September 6, 2018
  • Asia
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