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Category Archives: Blog with BEBdata
Auto Loans Hit Q1 Record
Worries that auto lenders were again back to their old ways of writing risky loans may prove to be unfounded. The percentage of subprime loans is now falling.
Subprime or deep subprime loans made up 19.7% of the market in the first quarter, the lowest percentage since 2012, EA reports.
Yet with employment strong across the country and new cars costing more, auto loans are reaching record levels. They hit $905 billion in the first quarter, up 11.3% from a year ago.
In addition, the number of borrowers who fell 30 days behind in their payments fell 4.1% from a year ago. Those behind 60 days went down 3.2%.
“The current stability in the automotive loan market is a testament to consumers making timely payments on outstanding loans, which is evident in the improvement in delinquency rates,” says Melinda Zabritski, senior director of automotive finance.
READ MORE
Subprime loans fall
Subprime and deep subprime auto loans in the first quarter dropped to their lowest share of the market since 2012, Automotive Data Experts said this week.
Together, subprime and deep subprime loans made up 19.7 percent of the market, compared with their 19.6 percent slice three years earlier, according to the source’s first-quarter State of the Automotive Finance Market report.
The Data Source defines the subprime risk category as credit scores of 501 through 600 and the deep subprime category as scores of 300 through 500.
“Over the last year, there has been a tremendous amount of conversation around the growth in subprime loans, and the concern over the automotive finance industry approaching a potential ‘bubble,’” the senior director of automotive finance, said in a statement on Monday.
BEB Awarded BBB Winner of Distinction
Houston – We are so proud to announce that Business Extension Bureau is this year’s recipient of the Houston Better Business Bureau’s Awards for Excellence.
Today we were presented with a Winner of Distinction statue as recognition of our company’s commitment to quality in the workplace and superior service to the community and businesses served. Less than .2% of companies in the Houston area are honored with this prestigious award!
Judges base their decision on 10 factors surrounding each business which include changes within an industry and how the company has adapted to those changes, how the organization stays on top of the latest processes, technology and trends, and how the business has contributed to the betterment of their industry.
Competition was fierce and over 1,000 people were in attendance of the sold out, main event held on May 13, 215 at the Bayou City Event Center. We are honored to have received such a prestigious award
CEO, Ron Royall (L) and Executive VP, Ro Royall (R) were in attendance to receive this amazing award
Over 1,000 people were in attendance at this year’s 2015 BBB Awards of Excellence Event
USPS Rate Hike Approved
After three tries, the Postal Regulatory Commission (PRC) finally approved the proposed prices and classifications for Standard Mail, Periodicals, and Package Services yesterday.
The new pricing and classification changes for all market-dominant mail classes and competitive products take effect on May 31, 2015. Below are the new rates:
Would you like a 2015 BEB POSTAL RATE CARD? These cards are double sided with nonprofit rates on one side, and for profit Standard & First-Class rates on the other. They also include handy dimension minimums/maximums and other mailing requirements. Printed on sturdy card stock and measuring at 9″ high X 8″ wide, these cards are excellent reference material and they are FREE! If you would like one mailed to you, click here.
Happy Mother’s Day
Zehrbach Wins the Helsley
Congratulations to our Joy Z for receiving the Helsley Award for Lifetime Achievement by Epicomm SW this weekend. This award has very special meaning to us as it was bestowed upon our President & CEO Ron Royall last year. Our founder, Bob Royall received the award in 1994! The award can only be won once and the winner is chosen by all previous recipients.
Congratulations to Joy Zehrbach, Vice President, Business Extension Bureau!
May 2015 QR Code
Have you scanned your May QR Code from BEB-Business Extension Bureau’s NEW 2015 calendar?
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China’s Cheap Car Strategy for US
Hans Greimel writes an interesting perspective published by AutoNews on China’s Cheap Car Strategy for the United States. Check it out:
SHANGHAI — How much will a Chinese brand need to discount its cars to succeed in America?
Wu Song, general manager of aspiring U.S. entrant Guangzhou Automobile Group Motor Co., says he has that magic number: His cars will have to be priced 30 percent cheaper than rivals in the same segment.
If everything goes his way, Wu will be testing his bargain-basement pricing strategy with the U.S. launch of his company’s GS4 crossover sometime in 2017.
“We are confident. It could be popular in the market,” Wu told Automotive News at the Shanghai auto show. “Considering the low price, it should be competitive.”
The company’s top executive already is seeking U.S. dealers, importers and distributors.
Guangzhou Automobile, which goes by the abbreviation GAC, is the latest Chinese automaker floating plans to sell made-in-China cars in the U.S., following similar pronouncements by Great Wall Motor Co. and BYD Auto Co.
Skeptics often pooh-pooh such goals, noting the many Chinese brands that have pledged to be on sale in the U.S. in two or three years but still aren’t. But Wu’s comments shine a light on the pricing calculus they are working with.
With no true bargain brands left in the U.S. market, Chinese brands see room to make a pure price play. Read More.
Student Loans the new SP Bubble?
Chris Street chimes in with an article published by American Thinker, regarding the possibility that student loans may be the new sub-prime bubble. Check it out
On April 15 Tax Day, Americans paid about the same amount of income tax as total student loans outstanding. The St. Louis Federal Reserve on the same day published a report titled ‘Student Loan Delinquency: A Big Problem Getting Worse?’ The Fed has determined that of the $1.3 trillion in non-bankruptcy-dischargeable student loans, the delinquency rate for students in repayment is over 27 percent. With tuition at the University of California and other top schools growing faster than inflation, student loan defaults are skyrocketing. Read more.