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The firm had expected a steeper decline due to replacement activity linked to last year’s hurricanes. Instead, Black Book saw fairly typical depreciation.
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Industry Summit’s executive panel convened to discuss and debate the effects of Hurricane Harvey, the status of the used-car and subprime markets, the GM mandate, and the digitization of the F&I process.
Read More →For the fourth consecutive quarter, auto loan originations in the second quarter decreased on a year-over-year basis. Much of that decline was driven a 5.9% decrease in subprime, nearprime, and prime loan originations.
Read More →The last remaining replacement activity stemming from hurricanes Harvey and Irma drove continued vehicle value stability and shopping demand in October, with the firm’s index rising to 114.6 in October.
Read More →Total revenue and gross profit were down 5% and 2% from a year ago, respectively, with Hurricane Irma having a significant impact on sales in the group’s core Florida and Georgia markets. F&I was a bright spot, with total gross profit up 4% and the group’s per-copy average increasing by $142 from a year ago to $1,547.
Read More →Despite a few political and economic setbacks, 2017 is expected to be one of the highest performing years on record in terms of auto sales. They key going forward is the Trump Administration’s ability to turn its pro-business campaign rhetoric into reality.
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Fueling the increase was vehicle replacement activity related to Hurricane Harvey, which began last month. According to Black Book, compact cars, compact crossover SUVs, full-size cars, and mid-size cars each realized significant month-over-month increases within the index.
Read More →The editor provides an up-close look at the topics he hopes to cover during his Industry Summit 2017 panel session. He’d also like to hear your take on these hot-button issues.
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Manheim said it's closing four of its Florida auctions on Friday ahead of Hurrican Irma's expected landfall there. The storm battered Puerto Rico on Wednesday after striking the northern Lesser Antilles and the Virgin Islands with 185-mile-per-hour winds.
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According to the American International Automobile Dealers Association, Hyundai and Nissan registered significant sales declines in August, while Subaru, Toyota, Volkswagen, and Volvo finished the month on a high note.
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