A hacker can access the steering wheel or the brakes of your automobile.
Sixty-one percent of connected vehicle owners who responded to a recent survey did not know that.
And 33% did not know that hackers can gain access to a connected vehicle using a key fob as a potential pathway.
The new study from online auto marketplace CarGurus shows that although adoption of connected vehicle technology is on the rise, consumers are not well-informed about the fact that the technology presents potential security threats.
The research also found that 65% of connected vehicle owners believed — incorrectly — that vehicle manufacturers must inform owners of software and security updates.
Overall, consumers participating in the CarGurus’ study scored a failing 49% average in a test of their connected vehicle security knowledge.
“Consumers are excited about the new technology features that come when devices are connected to their vehicles, be it voice-activated texting, listening to music or getting the help of a virtual assistant,” CarGurus’ director of customer insights Madison Gross said in a news release. “As people embrace these new technologies that improve the driving experience, they should also remain vigilant about keeping software up to date and staying aware of what data is being accessed and stored on their vehicle.”
CarGurus conducted the survey of 1,020 automobile owners in April 2019. Of those participants, 264 own a connected vehicle. The study surveyed consumers’ connectivity habits and perceived threats of connected technologies and tested consumers’ knowledge of data security vulnerabilities and best practices.
CarGurus said the following trend that the study found over the past year was interesting: Regarding vehicle smartphone integration, 70% of owners have synced their smartphones to their vehicles during that time. However, only 46% were willing to admit that they are not knowledgeable on industry best practices for keeping their personal data safe while they are driving.
More people are connecting to their cars, but they are still not aware of the security implications. Why? Although 45% believe smartphones to be a significant threat to data security, and 41% believe the same about laptops/tablets, 40% feel that way about smart speakers and 30% believe that about smart home devices, only 22% perceive connected vehicles as a significant threat to data security.
The study also showed that the younger the survey participant, the lower his or her perception of the security threat of connected vehicles. Fifty four percent of 18- to 29-year-olds saw connected cars as a minimal threat, compared to 42% of all respondents.
A company description for KAR Auction Services states that it offers “innovative, technology-driven remarketing solutions” to the global wholesale used-vehicle industry.
Now, the company’s Insurance Auto Auctions business is making an investment to take that innovation further.
In what the division is describing as “an insurance claims and remarketing industry first,” IAA is investing in an innovation hub at “1871,” which IAA states is the largest technology incubator in North America.
The 1871 site is located in Chicago’s Merchandise Mart, and as part of that site, IAA Engine House will be “an ideation and development center,” IAA said. At that site, IAA employees will engage in collaboration with educators, investors, mentors, technologists, buyers and sellers.
“Our insurance and automotive remarketing customers require solutions that help them decrease cycle time, increase efficiency, make data-driven decisions and, above all, improve their economic returns,” IAA chief executive officer and president John Kett said in a news release.
“We are making strategic investments to help fuel more rapid progress in the industry," Kett continued. "Being in an environment where we can share ideas and collaborate with universities and startups that are advancing technology gives us the advantage to lead the innovation of our industry.
"We can work to enhance our current technologies, but more importantly, to develop the solutions of the future," he went on to say.
The location, 1871, consists of 140,000 square feet of collaboration space. More than 1,000 inventors, designers and creators and more than 500 startups call 1871 home. The space includes various industries, and representatives of those industries share advancements and findings.
A rotation schedule of up to 20 Insurance Auto Auctions employees at a time will help as many IAA employees as possible gain exposure to the culture and shared knowledge at 1871. Each year, IAA will have access to more than 350 mentors and 1,000 events and learning programs. Activities such as client meetings, ideation sessions and product development and launch gatherings will take place at Engine House.
“IAA Engine House at 1871 will help us to foster a culture of innovation, generate ideas and launch them to full-fledged products or solutions — all while exercising an entrepreneurial spirit,” Kett said.
A new partnership aims to transform independent and specialty auctions’ static vehicle merchandising pages into “interactive digital experiences.”
Auction Edge, a technology provider for independent auto auctions; and automotive digital merchandising company SpinCar are now working together to bring 360° Walkarounds to the auctions. The companies say that the technology helps wholesale vehicle buyers explore every aspect of a vehicle’s interior and exterior condition. That means independent auctions and consignors can offer more transparency to the auction process.
Auction Edge says the new integration makes it the first auction technology company that offers interactive vehicle display pages to wholesale buyers and sellers.
Auction Edge’s national wholesale marketplace—EDGE Pipeline—as well as EDGE Lookout, which powers websites for various U.S. independent auto auctions, are among the Auction Edge platforms through which SpinCar’s technology is available.
SpinCar notes that its 360° WalkAround and Feature Tour technology brings the physical showroom experience to car shoppers wherever and whenever they want. The company notes that car shoppers across 15 countries have experienced more than 200 million virtual WalkArounds.
“We're incredibly excited for this partnership with Auction Edge,” SpinCar chief executive officer Devin Daly said in a news release. “As the auction industry continues to move online, building trust between wholesale buyers and sellers is critical. We look forward to working with Auction Edge to enable independent auctions and vehicle sellers to harness the power of advanced digital merchandising technology for greater transparency and business success.”
Auction Edge senior vice president of auction systems Julie Warpool added that independent auctions are a “thriving channel” for vehicle transactions.
“Working with SpinCar is a natural fit as we continue to enhance our ecosystem of tools to help independents serve buyers and sellers with greater transparency and more options for evaluating vehicles,” Warpool said.
Carvana is now established in nine Texas markets after adding three more in the Lone Star State on Tuesday.
The company said via a news release that its e-commerce platform for buying and selling used vehicles is now available to consumers in Killeen, College Station and Waco.
“Today’s launches put us in nine markets in the Lone Star State,” Carvana founder and chief executive officer Ernie Garcia said. “Many Texans have welcomed the new way to buy a car, and we’re looking forward to bringing online car buying and home delivery to Killeen, College Station and Waco area residents.”
With the growth in Texas, Carvana now offers as-soon-as-next-day vehicle delivery in 105 cities across the U.S.
Customers who visit Carvana.com can examine more than 15,000 vehicles that are photographed in 360 degrees, so customers get a high-definition virtual tour of every model. Additionally, all Carvana vehicles come with a seven-day return policy, giving customers the peace of mind and time to ensure the vehicle fits their life.
Furthermore, every Carvana vehicle is Carvana Certified, meaning it has undergone a 150-point inspection, has no frame damage and has never been in a reported accident. Features, imperfections and updated information about open safety recalls are listed on the vehicle description page.
