Asbury Automotive Group Inc. considers its first attempt to grow used-only sales with standalone locations a failed experiment. In 2017, when the last Q auto location closed, executives said the retailer planned to focus its investments on “alternative routes to market” that will deliver higher profits. Clicklane, Asbury’s omnichannel solution …
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Auto lender TD Auto Finance U.S., based in Farmington Hills, Mich., has named a new president and CEO. Marc Womack, 52, was previously COO of the company. In his new role, which was announced Nov. 12, Womack will be tasked with steering the company on an expansion in the U.S. …
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Lincoln Automotive Financial Services led luxury dealers for the eighth year in a row in J.D. Power’s annual U.S. Consumer Financing Satisfaction study, while Truist — formerly known as BB&T — took the lead for mass-market brands. J.D. Power said last week the results weighed responses of 10,103 customers who …
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The U.S. Supreme Court is in session, and the lawyers at Hudson Cook are keeping an eye on a few upcoming legal cases that could cause ripples in the auto finance and retail sectors. Here are three cases before the court they feel could have far-reaching implications: Facebook Inc. v. …
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Three factors will be pivotal in shaping the automotive industry’s trajectory, according to Cox Automotive Chief Economist Jonathan Smoke: the spread of COVID-19 and a potential vaccine; the size and timing of an additional round of government stimulus; and the outcome of the 2020 election. But perhaps the most important …
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The American Financial Services Association’s annual Vehicle Finance Conference and Expo will go virtual for 2021, mirroring the decision of the National Automobile Dealers Association this week. NADA said it plans to move its annual event to February amid uncertainty surrounding the coronavirus pandemic. The American Financial Services Association, the …
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Editor’s note: An earlier version of this story mischaracterized how consumers can secure pre-qualification for an auto loan online. Vehicle listings company CarGurus is expanding the financing component of its vehicle shopping platform through an integration with RouteOne, CarGurus said last week during a call with analysts. The feature, which …
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During the coronavirus pandemic, federal, state and local governments have introduced measures designed to prevent the spread of the deadly virus, preserve economic stability and provide for Americans hardest hit by the crisis. Measures at every level have been criticized as being too harsh, too lax, overreaching and incomplete, depending …
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Aggressive incentives bolstered the new-vehicle market in May, dragging down the average interest rate on a loan to its lowest level since 2013, Edmunds said. But as the parade of finance deals marched through Memorial Day, fewer buyers took the bait. The economic pressure caused by measures to slow the …
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