Final Edition NADA Automotive News Roundup - December 19, 2018
End-of-Day Auto News Recap
As was widely expected, the Federal Reserve just announced another interest rate hike. This marks the ninth rate increase of the current cycle, and sets the benchmark federal funds rate to a target range of 2.25% to 2.50%. Similarly, auto loan interest rates tend to move in the same direction as the Fed's interest rate moves, but aren't perfectly correlated. Don't necessarily expect auto loan interest rates to jump right away as a result of the Fed's latest rate hike.
Source: The Motley Fool
General Motors political woes aren’t getting any better as three members of the U.S. Senate have launched an attack on the company’s stock buybacks.
Volkswagen is buying a controlling stake in Volvo’s WirelessCar, a digital service developer specializing in connected driving, for $122 million, the companies said on Wednesday.
What’s America’s favorite family vehicle? The SUV? The minivan? These days, it could very well be the pickup truck. While heavy-duty pickup trucks are still common tools of the trade for contractors and people who move equipment about for a living, so-called half-ton light-duty trucks have been making a steady move toward family vehicle status for years. Recent market changes and product developments have only bolstered that trend.
Source: The Associated Press