Christina Haberstroh's Blog – December 2011 Archive (11)

The Top Five AFN Posts of 2011

As the year comes to a close, I couldn't help but look back on some of the informative posts my colleagues here at Auto Finance News have provided our readers. The auto industry certainly had a memorable year so why not take a look back on what got you talking the most? I've compiled the Top 5 posts that I feel triggered the most attention and had our members buzzing.

Let the countdown begin!

5. …

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Added by Christina Haberstroh on December 29, 2011 at 10:30am — No Comments

Toyota Plans to make a Fierce Comeback

Toyota Motor Company announced today its sales and production plans for 2012 which include a 20% increase for the Japanese manufacturer. Could this help the company reclaim its crown as the world’s biggest auto manufacturer after slumped sales this year put them lower on the rankings? Time will tell, but unfortunately the company is destined to lose the No. 1 ranking for 2011 as the…

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Added by Christina Haberstroh on December 22, 2011 at 4:30pm — No Comments

2011 Auto Sales Expected to End Strong

The forecast continues to look bright for auto sales leading up to yearend. According to J.D. Power and Associates, new-vehicle retail sales continue to show strength, consistent with November performance.

The monthly sales forecast developed by J.D. Power and LMC Automotive reveals that December will be the first time retail sales will…

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Added by Christina Haberstroh on December 22, 2011 at 12:26pm — No Comments

Ally to Continue Servicing Saab Customers

It’s certainly been a dark week for Saab Automobile, as the Swedish carmaker, formerly owned by General Motors, filed for bankruptcy Monday after a deal with Chinese investors fell through due to opposition from GM.

In the wake of the disappointing news, Ally Financial said on Monday that it does not expect the bankruptcy to have a sustainable impact on its business. Ally, also formerly owned by GM, is the preferred financing provider for Saab vehicles in the U.S. and Europe. The…

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Added by Christina Haberstroh on December 20, 2011 at 12:30pm — No Comments

CarWoo! Nabs $6M to Accelerate Car-Buying Site

In a completely online experience, auto-buying startup CarWoo! aims to help consumers purchase vehicles in a “stress-free” environment. From beginning to end, the process is completed in cyber space — all the shopper needs to do after the process is schedule a pickup. This week, the California-based company announced the closing of a $6 million funding round, bringing its total funding to more than $12 million. The additional funds come…

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Added by Christina Haberstroh on December 16, 2011 at 3:00pm — No Comments

Delinquency Continues to Drop, 2012 Forecast Looks 'Good,' TransUnion Reports

Buying patterns, pent-up demand, and competition can all affect where auto finance is headed in the year to come, but so far, things are looking pretty good.

“There’s a very attractive nature to the landscape, as auto sales in general are expecting growth,” Peter Turek, automotive vice president in TransUnion’s financial services business unit, told AutoFinanceNews.net. “Other segments don’t have the same certainty.”

In its annual national auto delinquency forecast, TransUnion…

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Added by Christina Haberstroh on December 15, 2011 at 2:30pm — No Comments

S&P Economist: Double-Dip Recession "Likely"

NEW YORK ― Auto sales are rising, the unemployment rate has decreased, and consumers are spending an increasing amount this holiday season, but a double-dip recession is still pretty likely, said Beth Ann Bovino, deputy chief economist of global fixed income research for Standard & Poor’s, during a presentation this week.

In fact, the likelihood of another dip in the economy is about 35%, Bovino predicted, noting that improved unemployment data prompted her to lower her estimate…

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Added by Christina Haberstroh on December 8, 2011 at 1:30pm — No Comments

Five Vie for Barney Frank’s Seat

Upon the retirement of Barney Frank, leader of the House Financial Services Committee, House democrats will compete for the throne he has occupied since 2003.

This article, featured on Open Secrets Blog, spotlights the contenders, as well as some information about Frank:

Since 1989, Frank has raised more than $13 million for his…

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Added by Christina Haberstroh on December 5, 2011 at 4:30pm — No Comments

Experian: Subprime Originations Increase, Scores Come Down

The subprime sector in recent months has been regaining share, signaling some loosening in underwriting practices. In fact, subprime lending accounted for nearly 40% of total loan financing ― including independent and franchised dealers ― as of Sept. 30. Last quarter's 39.9% share was up from 36.7% in 3Q10, according to Experian Automotive’s latest data. Among prime loans, marketshare fell to 60.1% from 63.3%.

Specifically, 21.9% of loans new-vehicle loans were made to people with…

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Added by Christina Haberstroh on December 2, 2011 at 2:30pm — 3 Comments

Subprime Originations Increase, Scores 'Come Down', Experian Says

As we’ve seen in recent months, the subprime sector has made its way back into the marketplace, signaling some loosening in lending. According to Experian’s review of 3Q2011, subprime lending is approaching 40% of the marketplace of total loan financing-- including independent and franchised dealers-- up 8.7% from 3Q2010. Prime is down 5% to 60.11% of all financing.

Specifically, on new-vehicle financing, the total subprime market has increased to about 21.87% of all new-vehicle…

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Added by Christina Haberstroh on December 2, 2011 at 2:00pm — No Comments

November Sales Signal Strong Yearend

Solid sales reports have been trickling in all day, and word is that November sales will push the SAAR to a 13.4 million rate, up 8% from November 2010. The recent buzz in the industry points at sales looking better than we’ve seen since August 2009.

Here’s a taste of November sales (compared with November 2010) for the manufacturers that have released numbers…

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Added by Christina Haberstroh on December 1, 2011 at 1:30pm — No Comments