Archive | Auto Industry News

Auto Loan Interest Rates Soar to Eight-Year High

SANTA MONICA, Calif. — Interest rates on new-vehicle loans were expected to soar to their highest point in eight years in February, Edmunds said last week. The annual percentage rate (APR) on new financed vehicles averaged 5.2% in February. That’s up from 4.9% in 2017 and 4.4% five years ago. Edmunds experts point to an … Read More »

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KBB: Average New-Car Prices Rise 2% in February

IRVINE, Calif. — Kelley Blue Book put February’s estimated average transaction price for light vehicles at $35,444. That’s up $722 from a year ago but down $96 from January. Even with new-vehicle demand expected to continue to slow in 2018, average transactions prices have so far been unaffected this year — though incentives have risen … Read More »

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FrogData Names Arenson Senior Sales Consultant

LONG BEACH, Calif. — FrogData named Paul Arenson as senior sales consultant, continuing a “rapid expansion,” according to the company. Arenson comes to FrogData with more than two decades of automotive industry experience, most recently at Dealertrack, where he was the recipient of the company’s first-ever Chairman’s Award, which recognizes excellence in the relentless pursuit … Read More »

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APCO Adds Anne Bélec to Board of Directors

NORCROSS, Ga. — APCO Holdings Inc., the parent company of the EasyCare and GWC brands, announced the addition of Anne Bélec to its board of directors. Bélec brings extensive experience in brand management. She spent 24 years with Ford Motor Co., where she served as director of Global Marketing for the automaker, as well as … Read More »

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EFG Sweeps Stevie Awards

DALLAS — EFG Companies was recognized in all four categories submitted at the 12th Annual Stevie Awards for Sales and Customer Service, a feature of the American Business Awards. This marks the fourth year running that EFG has brought home Stevie Awards. This year, the company received the following: A Silver Award in Call Center … Read More »

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AIADA to Trump: Tariffs Will Raise Vehicle Prices

ALEXANDRIA, Va. — The American International Automobile Dealers Association (AIADA) expressed opposition to President Donald Trump’s plan to place a 25% tariff on steel and a 10% tariff on aluminum imports. Both metals are crucial to the production of cars and trucks sold in America today and would raise the sale prices of those vehicles … Read More »

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