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Capital One to Exit Auto Dealer Services Business This Year

June 2023

Capital One has announced that it will terminate its auto dealer services business, including floorplan lending, later this year. Floorplan lenders extend a line of credit or short-term loans to dealers to buy inventory. The…

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Equipment Finance Originations Decline 8% Year Over Year

June 2023

New equipment finance business was estimated to be $9.7 billion in April 2023, a decline of 8% from April 2022, according to the Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25)….

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Frontdoor’s Retention Rate Rose to An-All Time High of 75%

June 2023

Frontdoor, the largest provider of home service plans (HSP) in the United States, recently announced their retention rates rose to an all-time high of 75.7%. Renewals are a critical part of the Company’s HSP business model,…

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Stellantis Offers Employee Buyout Packages to Fund EV Expansion

June 2023

Stellantis announced offering buyout packages to employees to reduce operational expenses to help fund EV growth plans. The company plans to reduce nearly 3,500 employees by offering packages worth up to $50,000 depending on seniority….

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The Microchip Shortage Continues Globally

June 2023

Across the globe, manufacturing plants continue to cut production on vehicles due to continued microchip shortages. Year-to-date, over 1 million vehicles have been eliminated from production plans, just over one-third of the 2.8 million vehicles…

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