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Small Businesses Turn to Non-Bank Lenders Amid High Cost of Capital and Tightening Loan Approval Rates at Big Banks
As interest rates on SBA and traditional term loans continue to rise, non-bank lenders are becoming an increasingly attractive option for small businesses. Although the cost of capital offered by big banks is still slightly…
Lithia Motors Outperforms AutoNation in 2022 for New Vehicle Sales, Securing Position as the Largest Dealership Group
Following a streak of acquisitions over the last few years, Lithia Motors has become the largest dealership group, outperforming AutoNation in new vehicle sales. While AutoNation has held the spot as the largest group in…
Ally Financial’s Automotive Net Charge-Offs Significantly Increased in 2022 Q4 Following Six Consecutive Quarters of Historically Low Levels
In 2022 Q4, net charge-offs exceeded 1.6% for the first time since 2017 Q4. Ally expects annualized net charge-offs will further increase to 2.2% by 2023 Q4. Covid era stimulus and the surge in used…
Colonnade Advises Streamline Recon on its Sale to SolutionWorks
February 6, 2023 SolutionWorks, a leading provider of automotive reconditioning services, announced the acquisition of Streamline Recon, LLC (“Streamline Recon” or the “Company”), a Texas-based automotive reconditioning company focused on the automotive dealership market. SolutionWorks…
Cox Automotive’s 2022 Car Buyer Journey Report Demonstrates the Continued Growth in the F&I Industry
Source: Cox Automotive Car Buyer Journey
