Chase Auto Finance appointed a new chief executive officer on Monday, succeeding Marc Sheinbaum who has asked to pursue other opportunities. Moving into the role is Thasunda Brown Duckett who previously was part of Chase’s consumer and community banking division. Duckett also served as national retail sales executive for Chase’s Mortgage Banking division. “Thasunda has … Continue reading
While noticing a surge in non-prime originations, TransUnion came out Tuesday saying that the national auto loan delinquency rate moved higher to close 2012 but continued to remain near historic low levels. TransUnion determined the ratio of borrowers 60 or more days past due ticked up to 0.41 percent in the fourth quarter. In Q3, … Continue reading
Cars are shrinking and shedding weight to save fuel, but automakers aren’t neglecting good looks and speed. For instance, at the Detroit auto show next week Audi may show the RS7, a high-performance version of the A7. And Chevrolet will unveil a redesigned Corvette. BMW has redesigned the 3-series coupe and has given it a … Continue reading
Two more automakers have joined the list of those that experienced strong sales in December, as the industry finishes out a year of overall gains. Hyundai recently reported sales of 59,435 vehicles in December, accounting for a 17 percent increase when compared to December 2011. “We closed 2012 with strong demand in both volume and … Continue reading
American motorists are getting more out of their new vehicles as the average fuel economy of new cars and trucks sold increased 6 percent and set an all-time high in 2012 as consumers responded to higher gas prices and the increased availability of attractive high-mileage products, according to a study. University of Michigan Transportation Research … Continue reading
Ten technologies were nominated by Green Car Journal’s Green Car Technology Award, which will be given out at the Washington Auto Show at the end of the month. The auto show is on January 31, and the winner of the coveted Green Technology Award will be announced on the second day.
Porsche recently announced that it sold 35,043 vehicles in the United States in 2012, up from 29,023 in 2011. “2012 was truly a momentous year for Porsche in the U.S.,” said Detlev von Platen, president and CEO, Porsche Cars North America. “Not only did we launch the all-new, seventh-generation 911, the completely redesigned Boxster and … Continue reading
The last-minute compromise that kept the country from going off the so-called fiscal cliff is good news for the U.S. economy and great news for the auto industry, for as the old adage goes: when the economy catches cold the auto industry gets pneumonia.
December nudged 2012 U.S. car sales past 14.3 million vehicles. Already armed with 11 months of sales reports, that’s what industry analysts expected. Nonetheless, it’s a remarkable number. How many of those same analysts would have predicted in 2009, the year Washington bailed out General Motors GM -0.40% and Chrysler, that sales of cars and … Continue reading
Strong sales of larger sedans and crossovers propelled Audi to a U.S. sales record in 2012 and Volkswagen division, aided by a full year of selling the redesigned Passat and Beetle, is on pace to reach its own milestone in 2013.