Daily News Briefs: May 30, 2012

Loan
There's good news if you plan to finance your car purchase: The average credit score for car shoppers dropped to pre-recession lows as auto lenders extended some of the best terms since the financial crisis, Experian Automotive says. In the first quarter of 2012, car shoppers averaged 4.56% for 64 months, representing a lower rate and longer term than year-ago figures. That led an Experian official to note that "automotive lending is as healthy as it's been since the market bottomed out in 2008." Auto-repossession rates and 30-day delinquencies are down this quarter, and lenders see a safer environment to extend credit, which dried up during the recession.

In other news:

  • After announcing plans to jointly develop its next Alfa Romeo Spider with Mazda's next-gen MX-5 Miata, Alfa parent Fiat said it wouldn't purchase a stake in Mazda, Reuters reports. But Fiat will extend its ownership of Chrysler to 61.5% in July, up from the current 58.5%.
  • Automotive News reports Chevrolet will sponsor the U.K. soccer team Manchester United, whose fandom amounted to 659 million followers last year.
  • Ford executives say slow production stymied market share this year, but the automaker will add 400,000 units of production in the remainder of 2012 to rectify that, Automotive News reports.
  • Bloomberg News reports that after Northern Italy's 5.8-magnitude trembler Tuesday, exotic-carmakers Ferrari and Maserati have suspended operations in the region.

Related
More Automotive Industry News
Car Financing Advice
More Automotive News on Cars.com

Comments 

Post a Comment 

Please remember a few rules before posting comments:

  • If you don't want people to see your email address, simply type in the URL of your favorite website or leave the field empty.
  • Do not mention specific car dealers by name. Feel free to mention your city, state and brand.
  • Try to be civil to your fellow blog readers. This blog is not a fan or enthusiast forum, it is meant to help people during the car-buying process and during the time between purchases, so shoppers can keep a pulse on the market.
  • Stay on topic. We want to hear your opinions and thoughts, but please only comment about the specified topic in the blog post.
view posting rules

If you have a TypeKey or TypePad account, please Sign In

Search Results

KickingTires Search Results for

Search Kicking Tires

KickingTires iPhone App
Ask.cars.com