Tag Archives: Used-car

GM Joins Ford Worrying About Declining Used-Car Prices

General Motors Co. said a glut of used cars will return to market after their leases expire and drag on its finance unit this year, following similar warnings by peer Ford Motor Co. and lenders such as Ally Financial Inc. The prices of used cars in GM Financial’s leasing portfolio will decline about 7 percent this year, GM Chief Financial ... Read More »

Hertz bears brunt of ‘freak out’ over used-car prices

As investor panic spreads about the plunging prices of used cars in the U.S., one company and its high-profile top investor are enduring the biggest beating: Hertz Global Holdings Inc. and billionaire Carl Icahn. Hertz shares lost one-fifth of their value last week, as a troubling reading for a used-vehicle price index was followed by warnings that lender Ally Financial ... Read More »

Used-car market appealing

The rate of car repossessions has also returned to normal, which shows that the hire purchase industry will start growing again in 2016 after witnessing a downturn when the first-car scheme ended. Anuwat Luengtawekul, chief financial officer of Thanachart Bank, said the non-performing loans (NPL) of auto loans at TBank is stable, while the number of car repossessions have dropped ... Read More »