Financial News

Tightening credit conditions and rising vehicle prices continued to squeeze consumers in January, according to Edmunds. Due in part to an evaporation of 0-percent financing deals, the average annual percentage…
Santander Consumer USA Holdings Inc. announced net income for the fourth quarter of $104 million. Total auto originations for the quarter were $6.9 billion, up 59 percent. Core retail auto…
Credit Acceptance Corp. announced consolidated net income of $151.9 million for the fourth quarter. This was down from $177.1 million for the same period in 2017. For the year, consolidated…
Ally Financial Inc. reported pre-tax income for its auto business was $50 million higher in the fourth quarter than in the fourth quarter of 2017. Ally reported $335 million in…
General Motors and GM Financial hosted the sale of the 15 millionth remarketed vehicle on GMF DealerSource, GM Financial’s online auction platform, powered by Openlane. A 2019 Chevrolet Silverado High…
New vehicle retail sales in January are expected to fall from a year ago, according to a forecast developed jointly by J.D. Power and LMC Automotive. Retail sales are projected…
The Conference Board Consumer Confidence Index decreased in January, following a decline in December. The Index now stands at 120.2, down from 126.6 in December. Consumers’ outlook for the labor…
NextGear Capital announced the national rollout of their new self-reconciliation feature, available through account portal. Self-reconciliation simplifies the floor plan auditing process with a mobile-first solution. Dealers can log-in to…
Consumer finance website Bankrate.com expects auto finance to get slightly more expensive this year.
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