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Lift in Fleet Volume Offsets Sagging January Sales

January fleet sales edged higher than expected, easing the decline in new-vehicle sales, according to fresh data from Cox Automotive. Total fleet sales rose 10% year over year in January to nearly 216,000 units, driven mostly by an increase in sales to rental car companies. In January, 67% of fleet vehicles were sold to rental […]

How Smaller Tax Refunds Could Impact Auto Finance in 2019

The potential for fewer or decreased tax returns as a result of the 2017 tax act will likely bring down vehicle sales this spring, Chief Executive of JoyDrive Hunter Gorham told Auto Finance News. “Consumers use the tax refund as a whole down payment, and they won’t be a buyer [this year] without that down […]

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. […]