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Ford’s Commercial in Vehicle Subscription Earnings to Reach $6 Billion in 2023
Automakers have been exploring alternative revenue streams to generate significant profits, with in-vehicle subscription-based services ranking among the most promising avenues. Ford Motor Co. offers subscription services to commercial customers through Ford Pro, mainly related…
Credit Growth Slows to Decade Low for U.S. Banks Amid Tightening Lending Standards
Credit growth has slowed in recent months to some of its lowest levels in the past ten years, with banks reporting tighter credit standards and weaker loan demand from both businesses and consumers, according to…
AutoNation Announces “Micro” Leasing Service for Consumers Seeking Shorter Lease Terms
Automotive retailer AutoNation (NYSE: AN) recently announced a new “micro” leasing program offering terms of six or 12 months, allowing 800, 1,000, or 1,200 miles of driving per month. Traditional leases typically start at 24…
US New Vehicle Sales were Up 20.8% Year Over Year in June
June 2023 US new vehicle sales reached 1,385,862 units, up 20.8% from June 2022 levels when supply chains restricted production. Notably, June 2023 light truck sales (Pickup Trucks and SUVs) were up 22.2% over June…
The Proportion of Consumers Who Financed a Vehicle with a Monthly Payment of $1,000 or More Reached a New High of 17.1% in Q2 2023
In Q2 2023, 17.1% of consumers financed a vehicle with a monthly payment of $1,000 or more. This figure is up from 12.2% one year prior. In Q2 2019, only 4.3% of consumers financed a…
