Below Prime Risk Tier Loans Increasing, but Lenders are Being Cautious
Experian Automotive says loans to customers in the nonprime, subprime and deep-subprime risk tiers accounted for 25.41% of new vehicle loans in Q2 2012 – up 14% compared to Q2 2011. The numbers were at 24.49% in Q2 2008, just prior to the financial market crisis. Lenders are still taking a cautious approach, keeping loan-to-value […]
Mobile Taking Off for Wholesale and Retail Markets
Mobile devices are taking off in both the wholesale and retail used vehicle markets. Many dealers don’t bother to take their laptops when they travel to an auction, instead using their smartphone or tablet devices. Manheim saw mobile traffic more than triple in the second quarter. On the consumer-to-dealer side of the market, it appears […]
CPO Sales Become Part of NADA Used Car Guide Data
Certified pre-owned sales continue adding to their record sales months – it was the strongest August ever for the CPO market, according to Autodata Corp. For the NADA Used Car Guide, it’s become sizable and significant enough to add this data for every qualified vehicle to its monthly printed and electronic editions. NADA estimates the […]
TrueCar Reports Transaction Prices and Incentives for August 2012
Jesse Toprak VP of Market Intelligence TrueCar.com Click here to see what automakers offered in incentives during August TrueCar.com estimates that the average transaction price for new light vehicles in the U.S. was $30,274 in August 2012, up $428 (1.4%) from August 2011 and down $95 (0.3%) from July 2012. Incentive spending was down, which […]
Art Spinella on Used Vehicles Sales Trends for August 2012
Art Spinella President CNW Research Click here to read Art Spinella’s August 2012 used vehicle sales numbers U.S. retail used car sales for August came in at 3,867,892, a 1.5% increase from August 2011. Of that total, franchised dealers took approximately 38%, independent dealers sold 34%, and private party (casual sales) accounted for 27%. Private […]
