Monday, 01 January 2018 17:42
Small businesses\' appetite for financing has weakened in the second half of the year, along with their revenue outlook.That\'s the finding of a survey of small companies by researchers at Pepperdine University\'s Graziadio School of Business and Management and Dun & Bradstreet Corp. The companies questioned by Pepperdine and Dun & Bradstreet said they expect slower annual revenue growth. Owners with revenues of less than $5 million forecast a 9.3 percent gain,
Friday, 29 December 2017 04:16
Carvana Co. has grown its Texas presence to five markets by launching operations in Corpus Christi. Corpus Christi is the company’s 44th market overall. This is Carvana’s last market launch of 2017. Carvana more than doubled in size this year, adding operations in 23 markets.
Friday, 29 December 2017 04:15
The Conference Board Consumer Confidence Index decreased in December, following a modest improvement in November. The Index now stands at 122.1, down from 128.6 in November. Consumers’ outlook for the job market was less upbeat than in November. The proportion expecting more jobs in the months ahead decreased to 18.4 percent from 21.3 percent, while those anticipating fewer jobs rose to 16.3 percent from 12.1 percent.
Wednesday, 27 December 2017 23:57
Copart Inc. announced the expansion of its location northeast of Baton Rouge. The salvage auction is located at 21595 Greenwell Springs Road in Greenwell Springs, La. This is the company’s second major investment in the state. Just a few months ago, Copart announced the expansion of its New Orleans facility.
Tuesday, 26 December 2017 23:13
Penske Automotive Group has signed an agreement to acquire The Car People, one of the U.K.\'s leading retailers of used vehicles. The Car People retails used vehicles at fixed retail prices. Established in 2000, The Car People has four large-scale retail locations operating in Wakefield, Sheffield, Manchester and Warrington. The move comes as Penske expands its standalone used-car operations both overseas and in the United States.
Published in Dealers
Tuesday, 26 December 2017 14:41
CarGurus has teamed with the National Independent Automobile Dealers Association as the association\'s newest Bronze-level National Corporate Partner.CarGurus is one of the most visited online automotive marketplaces in the U.S. The firm offers premium tools that help dealers price, market and sell their inventory.
Published in Tech News
Thursday, 21 December 2017 20:15
The National Independent Automobile Dealers Association has acquired the assets and operations of the National Alliance of Buy Here-Pay Here Dealers.NIADA plans to merge NABD\\\\\\\\\\\\\\\'s conference and educational services into its own.The acquisition closed on Dec. 14, completing more than two years of review, strategic discussions and due diligence.NIADA plans on merging NABD\\\\\\\\\\\\\\\'s conference into the NIADA convention for a combined event set for June 18-21 at the Rosen Shingle Creek Resort in Orlando, Fla.A fall conference in Las Vegas is also under development, with plans to be announced in early 2018.
Thursday, 21 December 2017 20:12
The National Federation of Independent Business’ Index of Small Business Optimism gained 3.7 points in November, reaching a near-record high of 107. Eight of 10 components posted gains, including a 16-point gain in expected better business conditions and a 13-point jump in sales expectations.Job creation plans increased six points last month, providing more evidence of a strong labor market. The number of owners who said it’s a good time to expand rose four points.Finding qualified workers has been a persistent problem all year for small business owners, a reliable sign of a growing economy. Last month, it was the second most important problem facing small business owners. Only taxes polled higher.
Published in Dealers
Wednesday, 20 December 2017 21:32
Carvana Co. announced its expansion into Newark, N.J.This marks Carvana’s New Jersey debut and its easternmost market to date.Carvana has delivered vehicles to customers in 48 states, and now operates in 43 markets.
Wednesday, 20 December 2017 16:55
Expect more of the same for asset-backed securities in 2018. And that’s good news. Kroll Bond Rating Agency said the major themes in the ABS market over the past year have been strong investor demand, stable credit fundamentals, and a flattening yield curve, all of which contributed to the second consecutive year of solid returns. Across all asset classes and up and down the credit curve, ABS spreads have been stable or grinding trending tighter since early 2016 as demand far outpaced supply and investors continue their hunt for yield further down the capital stack and into the more esoteric corners of the market. Kroll expects technicals will remain supportive in 2018, with no signs of decreases in investor demand shows no signs of abatement, sound ABS credit fundamentals, and higher yields with each Fed rate hike. Kroll said ABS spreads have some room to tighten further. However, with spreads already at multi-year tights, there is likely limited potential for further tightening at the higher investment grade level, but there may still be some room to tighten further down the credit curve. From a credit perspective, ABS risks appear mostly benign. The financial condition of the U.S. consumer is healthy, with household leverage at cyclical lows and household disposable income to debt service payments at an all-time high. With the economy continuing to add jobs at a fairly healthy clip, albeit at a slowing pace as the labor market nears full employment, it’s hard to foresee a derailment of consumer credit over the next 12 months. Meanwhile, a strong consumer and expanding U.S. economy should help bolster further business expansion next year. As such, Kroll analysts believe ABS credit risks are very well contained, for now.