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Auto Finance Feels the Pressure of Fed’s Rate Hikes

Major automakers are reporting declines for U.S. sales as signs of tightening credit conditions are adding pressure to financing options for consumers.  Ford, Toyota, Nissan, and Honda all reported sales declines in September of 11.2%, 10.4%, 12.2%, and 7%, respectively. Though Hyundai sales rose 0.6%, sibling brand Kia was down 1.8%, according to sales reports. […]

Dealers Feel the Pressure of Competition in Used-Car Market

Captives and lenders are feeling confident in the used-vehicle market, but some dealers are feeling the pressure as full-time used-vehicle retailers are making the space more competitive for franchise dealers, Paul Ritchie, president of Hagerstown Honda and Kia, told Auto Finance News. “The dedicated full-time used-car lots, like CarMax, are starting to get into the […]
  • Nicole Casperson
  • September 28, 2018

Vehicle Sales Fall for First Time in 7 Years

The sales downturn that lenders have been anticipating for some time has arrived. Manufacturers on Wednesday reported a decline of about 1.8 percent in 2017 new vehicle sales, to 17.2 million cars and light trucks, following a seven-year streak of growth. U.S. auto sales for 2018 are further forecasted to drop to 16.5 million units, according […]

Honda Issues Third ABS of 2017 for $975 Million

American Honda Finance Co. issued its third securitization of 2017, this time for $975 million dollars. The captive’s first ABS was issued in January at $1.2 billion, and the second was issued in June valued at more than $1 billion. Honda Auto Receivables 2017-3 Owner Trust is backed by prime auto loans with a weighted […]

Carma in Talks with 5 OEMs for Car Subscription Service

Carma is currently “in talks” with about five manufacturers to form partnerships for its car subscription service, Auto Finance News has learned. The Detroit-based startup — which is currently involved in Detroit’s Techstars Mobility accelerator program — already works non-exclusively with Ford Motor Co. and American Honda Motor Corp. as they are mentors to the Techstars […]

5 Powersports OEMs Kicking Off the Summer With Hot Offers

As summer nears — initiating what many industry leaders consider to be the selling season in powersports — several promotions have been introduced into the market in recent weeks. From low-rate financing to customer cash-back offers, manufacturers are ramping up incentives to help bolster new sales, and help clear out carryover inventory. Here is the weekly roundup of […]

BREAKING: Honda Powersports Partners With Citi for Revolving Credit Program

American Honda Motor Co., in partnership with Citi Retail Services, launched the Honda Powersports Revolving Finance Program, along with several dealer incentives, according to a document shared with Powersports Finance. Honda and Citi will offer “fully integrated marketing programs,” special financing for up to 72-month terms, an exclusive rebate offer on new vehicle purchases for […]

VW Eyes Sale of Ducati in Shift Away From Powersports

Volkswagen might sell Ducati in a move to streamline operations and help fund a strategic overhaul, according to a published report. Volkswagen is curbing spending across the group, including cutting thousands of jobs at its core VW brand, to help fund a shift to electric cars and new mobility services. It would also be a […]
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