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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
9.3% of Low-Credit Auto Borrowers are 30+ Days Behind on Payments
Despite signs that the US economy is regaining steady footing, a rising number of Americans have fallen behind on their car payments, according to a recent report by Moody’s Analytics. The stress in the auto…
Vehicle Affordability a Growing Problem
According to the Wall Street Journal, vehicle affordability is becoming a problem for both dealerships and buyers. Dealers reported that increasing prices and a lack of affordable models were keeping prospective buyers away. Now coupled…
