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Latest News Dealer News Mobility News Used Car News

Latest News

VW crossovers in spotlight for now
Posted on Sunday September 12, 2021

The brand is also likely to trim its sedan lineup further.

Ford hires solidify Jim Farley's vision
Posted on Sunday September 12, 2021

The CEO is shaping automaker to focus on specific areas where it can generate more money, such as commercial vehicles and software services.

Former Tenn. dealership is donated for technical school
Posted on Sunday September 12, 2021

Friendship Automotive is donating the building that housed its first store in the state to the school district, which will use it as a training center.

No Bronco yet? Ford wants to buy you a drink
Posted on Sunday September 12, 2021

The automaker has created a "satisfaction" fund that allows for a maximum of $1,000 per customer as deliveries of the new SUV are delayed by quality issues with the vehicle's roof.

Napleton store countersues Hyundai, exec Jose Muñoz
Posted on Sunday September 12, 2021

A jury trial will begin in November in the automaker's lawsuit against a Florida store owned by group and other defendants accused of warranty fraud.

Dealer News

Ford’s India exit opens dealers to legal action from customers, report says
Posted on Thursday September 16, 2021

Dealers will likely face “legal complications” given that Indian consumer law makes them liable after a manufacturer exits, Vinkesh Gulati, president of the Federation of Automobile Dealers Associations, told Bloomberg. 

Signs of struggle in those busy shops
Posted on Wednesday September 15, 2021

Are dealership service departments coming down from the high of a busy spring and early summer?

KeyBank sells $3.2B indirect auto loan portfolio
Posted on Wednesday September 15, 2021

Parent company KeyCorp said in October 2020 that KeyBank would stop issuing new indirect auto loans.

Some banks loosened standards on auto loans in Q2
Posted on Wednesday September 15, 2021

Most bankers said they hadn't changed their practices. But a few lenders reported easing maturity maximums and lowering minimum down payments.

Roadside services, technology are top drivers of F&I product purchases
Posted on Wednesday September 15, 2021

The 2021 survey by Protective Asset Protection found 44 percent of dealers said roadside service was a primary reason customers bought F&I coverage.

Mobility Report

Alibaba invests in self-driving technology developer DeepRoute
Posted on Thursday September 16, 2021

The startup will use the funds to expand its team, ramp up R&D, and scale up collaboration with automakers and fleets.

Xpeng-backed startup plans to deliver flying cars in 2024, report says
Posted on Wednesday September 15, 2021

The electric vehicle will be able to fly in the air and drive on roads, Xpeng Heitech founder Zhao Deli told the World New Energy Vehicle Congress.

Workhorse dismisses its legal challenge to USPS contract award
Posted on Wednesday September 15, 2021

The EV maker's challenge, filed in June, had been set to face arguments before a judge on Wednesday in the U.S. Court of Federal Claims.

Ford, Argo AI to launch autonomous delivery service with Walmart
Posted on Wednesday September 15, 2021

The service, initially available in three U.S. cities, will feature autonomous Ford Escape hybrid test vehicles using Argo AI technology to deliver Walmart orders to customers.

GM invests in Oculii, radar software maker for self-driving cars
Posted on Monday September 13, 2021

Automaker can use Oculii's low-cost software to boost the resolution of radars.

Used Car Market

NAAA cancels 2021 annual convention
Posted on Friday September 10, 2021

The decision comes just weeks before the annual event was set to take place in Chicago, and marks the second straight year the show was called off due to the coronavirus pandemic.

Penske, Cox develop used-vehicle online buying platform
Posted on Thursday July 22, 2021

The tool, Esntial Commerce, has been rolled out initially at Penske's CarShop used-vehicle stores before a planned expansion to franchised dealerships.

Used-vehicle prices poised for peak in U.S. after pandemic surge
Posted on Thursday June 24, 2021

The bellwether of the industry -- the wholesale market where dealers buy and sell in bulk -- has already topped out and prices of individual secondhand cars should follow in a matter of weeks.

CarLotz shares start trading after reverse merger
Posted on Friday January 22, 2021

The company began trading shares Friday under the "LOTZ" ticker symbol. CarLotz CEO Michael Bor said going public should help raise the online used-car retailer's profile and visibility.

Used-car consignment store CarLotz to go public via merger
Posted on Wednesday October 21, 2020

The deal would make CarLotz the third major U.S. online car seller to go public this year, following in the trails of Vroom and Shift Technologies as online vehicle sales boom during the coronavirus pandemic.

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