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1st Gear: Honda Drops The Mic On Subprime Lending, Fleet Sales
“In addition to a heavy reliance on fleet sales to boost volumes, we are seeing some of our competitors adopt short-term tactics to stoke sales, like big jumps in subprime lending and 72-month terms,” Mendel said, without naming specific companies. “We have no desire to go there.”
Via Bloomberg: BOOM goes the Honda as the company's Exec VP of Sales John Mendel called out everyone else for counting fleet sales and using subprime loans to make their sales look better.