Black Book, in collaboration with Fitch Ratings, unveiled a new report on Monday. With the first installment titled, “Shifting Gears: A Comprehensive Overview of Automotive Trends in 2023,” experts released the 2024 Vehicle Depreciation Report, which presents key developments and data from the U.S. new- and used-vehicle markets, including notable trends in depreciation, sales and […] [Read More]

They say time waits for no one, and he who hesitates is lost. Well, those may be true, but it’s also true that speed kills. The faster you go, the less control you have and the more prone you are to mistakes. This is especially true in the car business. Dealers often make the mistake […] [Read More]

S&P Global Market Intelligence rolled out its newest tool to gauge risk. On Monday, the provider of information services and solutions to global markets announced the launch of RiskGauge Desktop, a scalable solution designed to streamline the credit risk assessment workflows of corporations of all scopes and sizes. The company said RiskGauge Desktop combines credit […] [Read More]

When it comes to electric vehicles, a mobile app is almost essential equipment, according to the latest study from J.D. Power. The 2024 U.S. OEM EV App Report found 90% of the almost 1,300 U.S. EV owners surveyed said they use the apps, up from 88% in 2023 and 81% in 2022. And 67% of […] [Read More]

Perhaps your underwriting department used information about unpaid medical bills on an applicant’s credit report when determining whether to offer auto financing and under what terms. Last week, the Consumer Financial Protection Bureau proposed a rule that would remove medical bills from most credit reports. Officials said the proposal would increase privacy protections, help to […] [Read More]

America’s Group said Monday it has acquired San Antonio Auto Auction from BA&W Enterprises Ownership Group. The move extends the auction company’s footprint to 39 locations across 19 states, including digital and mobile sales platforms, as well. San Antonio AA is located on 44 acres in Texas and includes a six-lane arena, reconditioning facilities and […] [Read More]

With the latest addition to its same-day delivery service, Carvana has reached a milestone. The online used-vehicle retailer has expanded same-day delivery to select residents of the Newark, N.J., the 15th market, representing 12 states, to be included. Carvana said that means the service is now available to approximately 25% of the U.S. population. “At […] [Read More]

Electric vehicle charging network IONNA has a new home – and some new leaders. IONNA – a joint venture founded by a coalition among automakers BMW, General Motors, Honda, Hyundai, Mercedes-Benz, Kia and Stellantis – has selected Durham, N.C., as its global headquarters, which the company said in a news release allows it to accelerate […] [Read More]

Almost half of used-car shoppers say the oldest vehicle they would consider is in the 3- to 5-year-old range, according to the May Industry Insights Report from Cars Commerce. And the good news for dealers is supply has increased for some of the vehicle price band that would fit into that particular age group. Here’s […] [Read More]

Solera is getting a lift from Uber. The provider of vehicle lifecycle management software, data and services, announced an exclusive rideshare collaboration with Uber for Business through Solera’s RedCap platform. RedCap’s shuttle service, powered by Uber for Business, not only provides rides for customers, it also offers access to parts delivery through Uber Direct. Solera […] [Read More]