A national consumer survey of millennials by Experian reveals that 59 percent of respondents feel the most important score to increase is their credit scores and 53 place more importance in proactively trying to increase their credit scores, versus growing their followers on social platforms such as Instagram and Twitter.

While social media and online numbers command millennials’ constant attention (19 percent say it’s an obsession), 49 percent of those surveyed believe a credit score impacts their life the most. Fifty-nine percent of survey respondents worry about their credit scores and 52 percent would be disappointed if the scores went down.

 

Group 1 Automotive, Inc. announced that it will release financial results on Oct. 24 for the third quarter ended Sept.30. The company’s senior management team will host a conference call to discuss the results.

Group 1 owns and operates 184 auto dealerships, 239 franchises, and 48 collision centers in the United States.

Asbury Automotive Group will release its third quarter financial results before the market opens on Oct. 22.

President and CEO David W. Hult, Senior Vice President Operations John S. Hartman, and Senior Vice President and CFO Sean D. Goodman will host a conference call at 10 a.m. Eastern Time.

The company, headquartered in Duluth, Ga., currently operates 88 dealerships and 25 collision repair centers.

Subaru of America, Inc. reported 51,659 vehicle sales for September, a 9.4 percent decrease compared with year-ago sales due to low days supply and three fewer selling days.
Year to date, Subaru has sold a record 525,329 vehicles, up 4.4 percent compared with the same period last year despite a tightening market. 
“Due to the rapid sell-down of the last generation Legacy and Outback models, our yearly,
month-over-month sales streak of 93 consecutive months came to an end in September,” said Thomas J. Doll, president and CEO. “We look forward to robust sales in October and are on target to achieve our 700,000-vehicle sales goal for 2019, marking 12 consecutive years of sales growth.”

New Car Loan Rates Dip

October 01, 2019

The average interest rate for a new-vehicle loan fell for the sixth month in a row and stayed under 6 percent for the third consecutive month, according to the car shopping experts at Edmunds. The annual percentage rate (APR) on new financed vehicles averaged 5.7 percent in September, compared to 5.8 percent a year ago.

“Automakers are in full sell-down mode, which means that car shoppers got to take advantage of some decent promotional offers in September,” said Jessica Caldwell, Edmunds’ executive director of industry analysis. “The cost of purchasing a new vehicle is still a lot higher than it was a few years ago, so it’s a positive sign that automakers and dealers are making the right moves to keep buyers coming back into the fold.”

Although average interest rates on new-vehicle loans have seen a decline in recent months, Edmunds experts say this drop is driven by incentives and is not indicative of a return to post-recession market conditions.

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