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New-car sales close in on 17M

Powered by strong November sales showings from Toyota Motor North America and Honda Motor Co., yearend light-vehicle volume is on track for 17 million units for the fifth straight year. Total light-vehicle sales for the year are on pace to hit 17.1 million units, down 1.4% from 2018, according to J.D. Power and LMC Automotive. Toyota notched […]

Automakers dangle record $4,500 discounts to clear old inventory

Automakers struggling to clear inventory of older models from U.S. dealerships probably will offer richer discounts to consumers this month than ever before, according to J.D. Power. Incentive spending likely will rise 12% to $4,538 per vehicle in November, the market researcher estimated Wednesday, exceeding $4,500 for the first time. The growth in automakers’ outlays to entice […]

Citizens One, VW Credit top dealer satisfaction survey

As vehicle sales slow and consumers look to secure financing outside the dealership, lenders’ credit analysts and sales reps are becoming critical elements in a smooth auto finance operation. That’s what the latest J.D. Power 2019 U.S. Dealer Financing Satisfaction Study found based on results from 16,800 retail credit and 2,100 floorplan provider evaluations from […]

Missing the mark: Online portals need a second look

From the July issue: As questions around the digital customer experience dominate industry conversations, lenders are realizing the value — and hurdles — of investing in such advancements. Lenders seek to deliver optimal digital interactions, and as they pour money, time, and resources into developing that online experience, consumers get one step closer to a […]

Cracking the Code: How to Manage Dealer Relations in the Digital Age

From the April issue: In auto finance, the lender-dealer relationship is one of symbiosis. Yet, in an age where technology is continually advancing, and financing is becoming faster, lenders and dealers agree that being mindful of and maintaining the human relationship is paramount to cultivating a prosperous partnership. Advances in technology — machine learning, artificial […]

Leasing’s New Look: Financiers Give Lease Options a Makeover

From the February issue: With new-car purchases lagging and used-values increasing, captives and OEMs are reimagining lease products to keep their customer bases growing. Roughly a decade ago, 1.4 million new vehicles were leased — a 16% penetration rate. Fast forward to 2019, and lease volume is expected to reach 4.1 million, with penetration as […]