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AFS 2019: Chase Auto augments private-label financing business after losing Mazda

LAS VEGAS — Chase Auto is looking to supplement its private-label financing venture with a “new business” focused on strategic partnerships that will leverage the private-label infrastructure, Chief Executive Mark O’Donovan said at the Auto Finance Summit. “We had some unfortunate news that Mazda had let us know a little while ago they’re going to […]

New-Car Model Shifts as Short-Term Leasing Stocks CPO Programs

An emerging trend — where dealers use off-lease vehicles from short-term leases to stock certified pre-owned (CPO) programs — is shifting the way consumers purchase new cars. This trend is occurring across segments and price points, according to Matt DeLorenzo, senior managing editor of Kelley Blue Book. Kia and Toyota are two OEMS that are both “aggressive in it,” he said, […]

Fleet Sales to Hit Skids in 2019

While fleet sales grew 7% in 2018, volume will likely remain flat this year, a new Cox Automotive report shows.  "Will fleet sales increase again in 2019? We don’t believe so," Cox wrote in the report. Fleet sales totaled 2.7 million units last year. Commercial fleet volume, up 9% to 743,000 units, was a primary driver […]

November Lease Approval Rates Second Highest of Year

Lease credit approval rates were at 85.2% for November, the second highest monthly lease approval rate for the year after August, which saw an approval rate of 85.7%, according to Year to date, Swapalease has recorded a lease credit approval rate of 69.7%, the highest since the year began, when the rate was at […]

California Dreaming: L.A. Auto Show Highlights

Los Angeles, with its 800-plus miles of freeways, endless broad boulevards, and vast sprawl, is a city built around cars. For that reason, the city’s auto show – a premier event on the car calendar -- is often a bellwether for automotive trends and an event in which product debuts make global headlines.