Toyota has been No.1 in U.S. retail volume each of the past 10 years, but it surpassed General Motors in overall sales in 2021 because COVID-19 and the computer chip shortage curtailed GM fleet sales.
“Sellers are laser-focused on closing before the end of the year” because the potential tax changes could greatly increase the tax bill for selling dealers, says Erin Kerrigan, co-founder of Kerrigan Advisors, Irvine...
Since 2019 the military training program has graduated 106 rookie BMW technicians nationwide. Dealerships need about 76,000 new technicians annually due to retirements and job departures, but only about 39,000 service...
It could take until 2024 or even 2025 for the auto industry to satisfy pent-up demand and fully rebuild new-vehicle inventories, say IHS Markit forecasters.
TransUnion says it expects auto origination unit volume of 28.9 million loans and leases in 2022, vs. an estimated 28.3 million in 2021, an increase of about 2%. TransUnion expects the rate of auto delinquencies to...
The average new-vehicle monthly auto loan payment reached $609 in the third quarter vs. $565 a year ago, or $553 two years ago, the Experian Automotive report says.
According to the recent Haig Report for the third quarter of 2021, buy-sell activity is expected to reach an estimated 575 dealerships this year, a 24% increase over the previous record of 463 in 2015.
Automotive Tech Week panelists cite recent blockbuster mergers, such as Sonic Automotive acquiring RFJ Auto Partners in Plano, TX. That $700 million deal, announced in September, is expected to close by year’s end.
U.S. auto finance originations reached their second-highest quarterly total in third-quarter 2021, reflecting “quite high” auto prices, New York Federal Reserve researchers say.
TransUnion says serious auto delinquencies, defined as 60 or more days overdue, accounted for 1.38% of outstanding loans and leases in the third quarter, down from 1.46% a year ago. In Q3 2019, it was 1.40%, the...