As you read last week, the U.S. auto industry continues its climb out of the coronavirus ditch, with foreign automakers pushing back at a briefly dominant Detroit in a bid to restore sales sanity.

The domestic three managed to unload an awful lot of big-margin trucks during the lockdown, propelling scared customers into dealers with zero-interest financing on long-term loans. Detroit’s rivals have now fully caught on, fighting back with their own offers. For Lexus, the new proposal to buyers doesn’t even end at the new-car lot. (Read More…)

When venturing out of the home carries an extra degree of danger, automakers know there needs to be a reward for breaking self-isolation. Even if physically entering a dealership isn’t necessary, there’s still the current economic uncertainty to dissuade customers.

As we told you yesterday, U.S. auto sales are on the rebound, slowly rising from the rock-bottom position reached less than a month ago. While per-vehicle incentives are, on average, on the decline (the byproduct of a smaller pickup slice in the retail mix), discounts aren’t the only way to lure customers into a buy. There’s also loan rates —  and it seems Toyota has finally arrived at that party. (Read More…)

A sea of green greets execs at major automakers this morning, providing a feeling of relief not unlike that of a weary travelling viewing the flight board at JFK where all flights read “On Time.” Come to think of it, that example is surely one of fiction. Anyway…

Unsurprisingly, light trucks and SUVs are the main reason for industry gains, driven by insatiable consumer thirst for tall wagons and vehicles with a pickup bed. This is a familiar refrain in an industry that is up nearly two percent so far this year.

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According to Cars.com, there are roughly 17,000 copies of the 2017 Subaru Outback on dealer lots across the United States.

That’s slightly more than one month’s supply for the Outback, a high-riding crossover of a wagon that has lately attracted an average of 15,600 U.S. sales per month.

But with a modest facelift and underskin refresh due for the 2018 model year — there are already 6,000 Outbacks in stock at Subaru dealers — Subaru needs these 2017 Outbacks to disappear before full availability of MY2018 Outbacks kills demand for the outgoing model.

So Subaru is doing what Subaru doesn’t do. You can get a deal on a 2017 Subaru Outback. (Read More…)

This is the new News Round-up where we cover all the things you should know that may or may not deserve a headline on their own (or we may have simply run out of time to cover them). It’s similar to the “While Your Were Sleeping” news coverage, but not the same, hence the name change.

This morning, Jaguar announced they are going racing again, the automaker formerly known as Saab has a business plan and the Tesla Model X has a price spread that would make Porsche blush.

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Next year may not be as kind to new car buyers with bad credit.

If you’ve been paying attention to the market recently, it’s been an up-and-down ride for the past few days. Market volatility is just one of the indicators that the Federal Reserve may be considering a hike to the federal funds rate (probably not this year, though), which would impact borrowing rates in a record-setting year for the auto-loan business. 

“It has the potential to impact auto loans, any rate increase certainly can,” said Melinda Zabritski, senior director for Automotive Finance for Experian. “The rate depends on so many other factors in the market … (A rate increase is) at some point, likely. But there’s not a strong chance that it will go up this year.”

Rates for loans have largely stayed the same since 2008, when interest rates were lowered to spur lending after the recession. Many of the low-rates today haven’t changed and automakers such as Subaru have offered interest-free loans on some of their cars.

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Happy days are back again for automakers selling to the United States, with auto sales projected to rise through 2017 before dipping slightly through 2020.

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The surge in United States auto sales last month could push the final figures to a height not seen since 2006 when January 2015 rolls around.

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The good news? Automakers are enjoying a sales boom in the United States the likes of which haven’t been seen since the Great Recession brought the hammer down, with June 2014 sales alone surpassing those in July of 2006. Should the boom continue, 2014 will close as the industry’s best year in a long time, with over 16 million vehicles sold when the calendar ticks over to 2015.

The bad news? This year may be the last year U.S. sales ever climb this high.

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Though the calendar is about to change to 2014, it appears to be 2007 all over again in dealer lots and showrooms nationwide as a record number of auto loans with low interest rates were signed during the third quarter of 2013.

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