Tag Archives: COVID19

When NBA legend Larry Bird would enter the league’s three-point shooting contest, he’d confidently ask: Who’s playing for second place? According to Experian, when it comes to new-vehicle auto originations right now, captive lenders are Bird and banks and credit unions are playing for second place. Efforts to slow the …

To what extent the coronavirus pandemic will wreak havoc on the automotive finance sector is a mystery. But what is known is that finance and insurance profits and product sales have been roiled. J.D. Power data suggests that F&I profits fell in the weeks following shelter-in-place orders aimed at mitigating …

Icon SportswireGetty Images The Centers for Disease Control have a new publication, COVID-19 Employer Information for Office Buildings, that encourages private vehicle use over public transportation for workers. Employers should help pay for parking for people who drive in, the CDC says, or let workers stagger their hours so they …

GoCamp/Road Trips for the Rock Stars Called Road Trips for the Rock Stars, the idea is to nominate the people who are working hardest right now so they can relax extra hard later. Over two dozen VanLife rental companies and organizations have partnered to gather nominations and provide the three-night …

Jessica Lynn WalkerCar and Driver Nissani Brothers Hyundai in Culver City, California, was reported by the Los Angeles Times to have towed away about a dozen customer vehicles rather than fix them. One customer didn’t know her car had been towed until she was presented with a $ 6000 fine. …

The COVID-19 outbreak dealt a major blow to large auto lenders’ first-quarter earnings as banks deferred auto loan payments and shifted resources to shield themselves from future losses. As lenders tighten credit access to mitigate the fallout of the coronavirus pandemic on their auto portfolios, finance-and-insurance managers are working overtime …

Strict shelter-in-place orders brought on by the coronavirus pandemic severely hindered profits at publicly traded U.S. megaretailers in the first quarter. But despite showroom closures, slowing vehicle sales and economic uncertainty closing out the month of March, all six public groups posted gains in finance-and-insurance profit per vehicle. Public groups …

The falling number of credit inquiries for auto loans, in the middle of a pandemic, should not shock anyone. After all, with many states under stay-at-home orders during March and people experiencing uncertain economic times, the Consumer Financial Protection Bureau’s Consumer Credit Panel’s look at how the coronavirus affected that …

Ferrari said it will restart full production at its facilities in Maranello and Modena, Italy, on Friday, May 8. Its facilities were shut down on March 14, and the automaker said this was the longest closure in the company’s 73-year history. As the company ramps up production this week, all …