April 19, 2024
News
Market Prices Out Non-Prime Consumers
Staff Writer
April 15, 2024
Open Lending Corporation, a provider of risk analytics solutions for financial institutions, released a new Near- and Non-Prime Consumer Update, continuing its quarterly report series on automotive lending trends among…
Teamsters Praise Veto of Driverless Cars Bill
Staff Writer
April 15, 2024
Kentucky Gov. Andy Beshear vetoed House Bill No. 7 that would have allowed driverless trucks and cars on Kentucky roads. "This bill and others like it are written by and…
PPI Rises in March
Staff Writer
April 15, 2024
The Producer Price Index for final demand rose 0.2% in March, seasonally adjusted, the U.S. Bureau of Labor Statistics reported. Final demand prices moved up 0.6% in February and 0.4%…
Auto Credit Access Improves
Staff Writer
April 13, 2024
Credit loosened across all channels and all lender types in March compared to February, according to the Dealertrack Credit Availability Index. The All-Loans Index increased to 94.0 in March but…
CarMax Net Revenues Dip
Staff Writer
April 13, 2024
CarMax Inc. reported results for the fourth quarter and fiscal year ended Feb. 29. Highlights for Q4 include net revenues of $5.6 billion, down 1.7% compared with the prior year…
Holman Acquires Auto Group
Staff Writer
April 13, 2024
Holman, a global automotive services leader, has completed its acquisition of the North Carolina-based Leith Automotive Group. This nearly doubles Holman’s automotive retail business, which now features 58 dealerships, 34…
KBRA Rates Lendbuzz ABS Transaction
Staff Writer
April 13, 2024
KBRA has assigned preliminary ratings to three classes of notes (four tranches) issued by Lendbuzz Securitization Trust 2024-2 (LBZZ 2024-2), an auto loan ABS transaction. Credit enhancement on the notes…
Annual Inflation Rate Hits 3.5%
Staff Writer
April 11, 2024
The Consumer Price Index for All Urban Consumers increased 0.4% in March on a seasonally adjusted basis, the same increase as in February, the U.S. Bureau of Labor Statistics reported…
Dealership Buy/Sell Market Hits Record
Staff Writer
April 11, 2024
The auto dealership buy/sell market had 397 completed dealership transactions last year, a new record and up 6% compared to 2022, according to the just-released Blue Sky Report by Kerrigan…
