Archive | Auto Industry News

Auto Loan Interest Rates Soar to Eight-Year High

SANTA MONICA, Calif. — Interest rates on new-vehicle loans were expected to soar to their highest point in eight years in February, Edmunds said last week. The annual percentage rate (APR) on new financed vehicles averaged 5.2% in February. That’s up from 4.9% in 2017 ... Read More » Tags: , , ,

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KBB: Average New-Car Prices Rise 2% in February

IRVINE, Calif. — Kelley Blue Book put February’s estimated average transaction price for light vehicles at $35,444. That’s up $722 from a year ago but down $96 from January. Even with new-vehicle demand expected to continue to slow in 2018, average transactions prices have so ... Read More » Tags: , , , ,

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FrogData Names Arenson Senior Sales Consultant

LONG BEACH, Calif. — FrogData named Paul Arenson as senior sales consultant, continuing a “rapid expansion,” according to the company. Arenson comes to FrogData with more than two decades of automotive industry experience, most recently at Dealertrack, where he was the recipient of the company’s ... Read More »

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AIADA to Trump: Tariffs Will Raise Vehicle Prices

ALEXANDRIA, Va. — The American International Automobile Dealers Association (AIADA) expressed opposition to President Donald Trump’s plan to place a 25% tariff on steel and a 10% tariff on aluminum imports. Both metals are crucial to the production of cars and trucks sold in America ... Read More »

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BB&T Switches Back to Markups as CFPB Shifts Away From Enforcement

GREENSBORO, N.C. — Nearly three years after switching to a flat-fee compensation model in response to the Consumer Financial Protection Bureau (CFPB)’s targeting of dealer participation, BB&T Dealer Financial Services announced to its dealers it will officially return to a dealer spread compensation plan on ... Read More »

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Autosoft Partners With NIADA

ARLINGTON, Texas — DMS provider Autosoft has joined with the National Independent Automobile Dealers Association as a “Bronze”-level national corporate partner. NIADA members can now take advantage of special pricing on Autosoft’s sales and F&I module with inventory management or the full DMS option, which ... Read More »

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