All of the latest auto industry news to keep you up-to-date with everything you need to know!
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F&I Magazine
- New Inventory, Pricing Report Debutsby Staff on May 7, 2024 at 8:46 pm
Lotlinx’s Vincensus report provides quarterly data for must auto industry OEMs and retailers.
- Survey Shows Dealers Are Susceptible to Fraudby Staff on May 7, 2024 at 8:28 pm
Less than 1% say they collect a digital copy, validate and compare against DMV records.
- Europe Is Also Behind on EV Chargersby Staff on May 7, 2024 at 5:31 pm
Auto industry trade group says European Union far behind on having enough to meet C02-reduction plans.
- Auto Lighting Market Growingby Staff on May 7, 2024 at 5:16 pm
Report highlights Asia-Pacific market, technology advances in the segment.
- CMA Launches Dealer Portalby Staff on May 6, 2024 at 9:10 pm
Companies say platform makes the ordering process easier and more efficient.
Wards Intelligence
Naked Capitalism
ZeroHedge
- China Remains World’s Biggest Jailer Of Journalists: World Press Freedom Index 2024by Tyler Durden on May 8, 2024 at 2:20 am
China Remains World’s Biggest Jailer Of Journalists: World Press Freedom Index 2024 Authored by Alex Wu via The Epoch Times (emphasis ours), A policeman covers a camera to stop journalists from recording footage outside the Shanghai […]
- MQ-9 Reaper Drone, At $30 Million A Pop, Top’s Zelensky’s Wish Listby Tyler Durden on May 8, 2024 at 2:00 am
MQ-9 Reaper Drone, At $30 Million A Pop, Top’s Zelensky’s Wish List Because it’s never enough… Ukraine is now eyeing the US-made MQ-9 Reaper even while Kiev awaits F-16 deliveries from the West. It is the latest long-range weapon […]
- Trudeau Government Offers Free Access To National Parks For Migrants Onlyby Tyler Durden on May 8, 2024 at 1:40 am
Trudeau Government Offers Free Access To National Parks For Migrants Only Via The Post Millennial, Parks Canada has decided to offer a real break in 2024 for people looking to enjoy some of Canada’s glorious outdoors and backwoods. […]
- Romney Cites Anti-Israel Posts As Latest Reason To Ban TikTokby Tyler Durden on May 8, 2024 at 1:20 am
Romney Cites Anti-Israel Posts As Latest Reason To Ban TikTok Authored by Dave DeCamp via AntiWar.com, In a conversation with Secretary of State Antony Blinken, Sen. Mitt Romney (R-UT) acknowledged that banning TikTok has such strong […]
- Bad-Loans Hit Record-High As Used-Car Prices Suffer Worst Bear-Market Everby Tyler Durden on May 8, 2024 at 12:40 am
Bad-Loans Hit Record-High As Used-Car Prices Suffer Worst Bear-Market Ever A bear market in the used car market was confirmed in November and has since worsened through April. At the same time, negative equity values are hitting new […]
Auto Finance News
- Chase Auto mulls buy box expansion by Amanda Harris on May 7, 2024 at 7:53 pm
Chase Auto could expand its credit buy box to meet consumer demand if macroeconomic conditions continue to contribute to weakening credit performance. Consumer need and the desire to grow its auto business are some drivers behind changes to JPMorgan Chase’s auto lending criteria, Leslie Wims Morris, president of private-label captive finance at Chase Auto, said
- Vroom names new CFO by Amanda Harris on May 7, 2024 at 5:25 pm
Vroom’s chief financial officer, treasurer and principal financial officer, Bob Krakowiak, is stepping down effective May 17. Agnieszka Zakowicz, senior vice president and principal accounting officer at Vroom, will succeed Krakowiak, according to an 8-K filing with the Securities and Exchange Commission on May 6. Zakowicz will continue to serve as principal accounting officer.
- New-vehicle loan rates rise 57 bpsby Ash Savage on May 7, 2024 at 5:21 pm
Auto loan interest rates ended April above 8% as rates across new- and used-vehicle loans rose year over year. The national average interest rate on new-vehicle loans idled at 8.01% as of April 25, unchanged from rates reported on April 12, according to data provider Curinos. New-car rates are 57 basis points (bps) higher compared
- Motorhome, towable values rise sequentially by Ash Savage on May 7, 2024 at 4:56 pm
Motorhome and towable values ticked up in March, marking the first simultaneous increase in both segments since May 2023. “They both went up, which is unusual because they haven’t both gone up in the same month for quite some time,” Eric Lawrence, principal automotive analyst of specialty vehicles at Black Book, told Auto Finance
- Hyundai Capital nears 40% e-fundingby James Van Bramer on May 6, 2024 at 9:11 pm
Hyundai Capital is nearing 40% in e-funding as the company uses generative AI to make financial decisions more quickly. E-funding has been a focus for the captive during the past 16 months, Chief Executive Marcelo Brutti told Auto Finance News during a fireside chat at Auto Finance Summit East last week in Nashville, Tenn.
WardsAuto
- Autoline Daily 2024: Top Industry News for May 7on May 7, 2024 at 3:30 pm
Could Lucid Run Out of Money?; NIO Launching Affordable Brands in Europe; CATL Wants to License Tech to Others
- Leasing Continues Its Comebackby Jim Henry on May 7, 2024 at 10:15 am
Lease penetration for the whole new-car industry was 24% of retail sales in the first quarter, up from 19% a year earlier, experts report.
- How Suppliers Can Hedge Their Bets on the EV Transformationby Mark Barrott on May 7, 2024 at 10:00 am
Successfully reducing risk during the electric vehicle transition will require suppliers to develop a business strategy, establish an operating model and optimize the operating model.
- $1Bn ADAS/Driverless Tech U.K. Start-Up's Boostby Paul Myles on May 7, 2024 at 5:47 am
Major global AI players back investment into Wayve’s driver assistance and autonomous technology expansion.
- Kia and Nio Targeting Low-Cost BEVs by Year's Endby Paul Myles on May 7, 2024 at 5:00 am
Kia reveals detail images of entry-level EV3 while Nio’s affordable sub-brands set sights on European markets.
Shadow Stats
- Flash Commentary No, 1460bon June 21, 2021 at 12:57 am
• Fundamentals Could Not Be Stronger for Gold and Silver, nor Weaker for the U.S. Dollar and Stocks, Despite Fed or Market Nonsense to the Contrary • There Is No V-Shaped Recovery • Battered, Non-Recovered May 2021 Payrolls and Unemployment Confirmed a Still-Ravaged Economy on Par With the Great Depression • Severely Negative Annual Revisions to Industrial Production Mean the Economy Was in Recession Well Before the Pandemic Hit • Business-Cycle Conditions Are Collapsing Rapidly, Amidst an Extreme Acceleration in Inflation • 2021 Social Security Cost of Living Adjustment (COLA) Could Spike to a 40-Year High, Based on Potential Third-Quarter 2021 CPI-W • Bureau of Labor Statistics Reveals It Cannot Measure the CPI Properly, At Present • FOMC Has Trouble Forecasting Inflation One Quarter Ahead, Let Alone Two Years Ahead • Despite Talk of ?Tightening? in 2022 or 2023, FOMC Is ?Easing? Anew in Its Latest Actions
- Flash Commentary No. 1460aon May 31, 2021 at 11:07 pm
• Benchmarked Industrial Production Revised Sharply Lower; Both Manufacturing and Mining Were Hit Hard • New Numbers Indicate the Economy Was in a Deepening Recession, Well Before the Pandemic Shutdown and Collapse • Old Numbers Showed Production Peaked in December 2018 and Flattened Out, February 2020 Pre-Pandemic Peak Was 3.75% Higher Than the Pre-Great Recession Peak • New Numbers Show Production Peaked in August 2018 and Entered Protracted Decline, February 2020 Pre-Pandemic Peak Was 1.11% (-1.11%) Below the Pre-Great Recession Peak • Manufacturing Sector Has Never Recovered Pre-Great Recession Peak Levels • April 2020 Pandemic/Economic Trough Revised Lower by 5.1% (-5.1%) • Economic Recovery Is Not as Close as Hyped by the Consensus Outlook • Negative Implications Here for the July 29th GDP Benchmarking • Chances Are Reduced for Moderating Extreme Monetary and Fiscal Policies • Evolving Circumstances Remain Extremely Strong for Gold and Silver, and Weak for the U.S. Dollar and Stocks, Despite Central Bank or Other Systemic Machinations to the Contrary
- Flash Commentary No. 1460aon May 31, 2021 at 11:07 pm
• Benchmarked Industrial Production Revised Sharply Lower; Both Manufacturing and Mining Were Hit Hard • New Numbers Indicate the Economy Was in a Deepening Recession, Well Before the Pandemic Shutdown and Collapse • Old Numbers Showed Production Peaked in December 2018 and Flattened Out, February 2020 Pre-Pandemic Peak Was 3.75% Higher Than the Pre-Great Recession Peak • New Numbers Show Production Peaked in August 2018 and Entered Protracted Decline, February 2020 Pre-Pandemic Peak Was 1.11% (-1.11%) Below the Pre-Great Recession Peak • Manufacturing Sector Has Never Recovered Pre-Great Recession Peak Levels • April 2020 Pandemic/Economic Trough Revised Lower by 5.1% (-5.1%) • Economic Recovery Is Not as Close as Hyped by the Consensus Outlook • Negative Implications Here for the July 29th GDP Benchmarking • Chances Are Reduced for Moderating Extreme Monetary and Fiscal Policies • Evolving Circumstances Remain Extremely Strong for Gold and Silver, and Weak for the U.S. Dollar and Stocks, Despite Central Bank or Other Systemic Machinations to the Contrary
- Benchmark Commentary No. 1459on April 21, 2021 at 9:15 am
• Intractable and Deteriorating Conditions Still Signal No Imminent Economic Recovery, Irrespective of Some Bounces in March Activity Against Weather-Driven February Collapses • Monthly Annual and Post-Pandemic Payroll Declines Have Stabilized Around Minus Six-to-Seven Percent for the Last Eight Month, Weakest Showing Since 1946 • Annual-Change Gyrations Are Just Beginning for Economic, Inflation, Money Supply and Financial Return Numbers, as the Pandemic-Driven Collapse Passes It First Anniversary • Beyond Year One, Multi-Year, Crisis-Driven Collapses Need to Be Assessed Against Pre-Crisis Levels, or Stacked Two-Year Change, As Well As Year-to-Year Change • The Federal Reserve Overhauled Its Money Supply Reporting, Redefining Traditional M1 from 34.8% to 93.4% of a Not-Redefined Total M2 • This Masked Accelerating Flight-to-Liquidity in Traditional M1 from Non-M1 Components of M2 • ShadowStats Defined “Basic M1” — Combined Currency and Demand Deposits — Still Reflects the Extraordinary Liquidity Flight to, and Surge in the Narrower Money Supply • Expanded Federal Reserve Accommodation Remains Likely Well Into 2023, Given the Increasingly Negative Outlook for Imminent U.S. Economic Recovery • Fed Chair Powell Noted That Surging Money Supply No Longer Boosts the Economy • That Is Because the Current Collapse Is Pandemic, Not Business-Cycle Driven; Surging Money Growth in a Non-Business-Cycle Collapse Can Trigger Hyperinflation • Surging Monetary Base, Reserves and Currency Indicate Intensifying Systemic Problems • Underlying Fundamentals Remain Extremely Strong for Gold and Silver, and Weak for the U.S. Dollar and Stocks, Despite Central Bank or Other Systemic Machinations to the Contrary
- Post Titleon April 21, 2021 at 9:12 am
Download the full Commentary as a PDF Document
Automotive iQ
Auto Dealer Today
- Carvana Settles Dispute with State of Illinoisby Staff on January 25, 2023 at 8:02 pm
The used car retailer will continue to operate in Illinois under some restrictions.
- Green Bond Availability Growsby Staff on January 25, 2023 at 7:49 pm
Around $28 billion in green bonds are available globally for automakers to help fund their transition to electric vehicles.
- Jaguar Land Rover Reports Profit for Q3 of its Fiscal Yearby Staff on January 25, 2023 at 7:35 pm
The company reported a profit before tax of $326 million for the quarter ending in December.
- Getting Everyone EV Readyon January 25, 2023 at 12:30 am
It’s time to create an environment and culture that welcomes the inherent fears and curiosities of EV buyers, and those who aren’t EV buyers-yet.
- Black Book: Weekly Market Updateby Staff on January 25, 2023 at 12:05 am
Last week, wholesale price declines lessened, coming in at a level on par with last July (apart from the weeks around Thanksgiving and Christmas when volume and conversions were down), before the declines began to accelerate for Q3 and Q4.
Wolf Street
- Used Car Prices Continue Historic Plunge, Wholesale Prices Gave up 59% of Crazy Pandemic Spikeby Wolf Richter on May 7, 2024 at 6:49 pm
Even during tax refund season! Exactly what Americans need. But it’s not helpful for big fleets, such as Hertz.
- Buffett Invests in T-bills instead of Stocks, Waits for Bad Stuff to Happen, Cash is King at 5%-plusby Wolf Richter on May 6, 2024 at 7:20 pm
When the Oracle of Omaha gets dark-ish on stocks at these prices, he isn’t taken seriously, suddenly. It’s only when he hypes stocks that everyone jumps in behind him.
- The Reasons the Fed’s Bowman is “Willing” to Hike Rates if “Data Indicate Progress on Inflation Has Stalled or Reversed”by Wolf Richter on May 5, 2024 at 11:37 pm
She nails it with her list of inflation-fueling factors. It parallels what Powell said more softly at the press conference.
- The Inflation Surge, Effects of this Sudden Divergence between the Fed and other Central Banks, the Corporate & Government Debt Bubbles, Housing, and the New & Used Car Markets Nowby Wolf Richter on May 4, 2024 at 10:59 pm
Wolf Richter on “This Week in Money.”
- Which Industries Lost Jobs, Which Gained Jobs: Longer-Term Employment Trends in Chartsby Wolf Richter on May 4, 2024 at 2:45 am
New all-time highs: Construction, Professional & Business Services, Healthcare, Wholesale trade. Layoffs whack Information.
Lending Times
Automoblog
- Top 5 Fastest Production SUVs Around The Nürburgring (2024)by Alvin Reyes on May 6, 2024 at 2:07 pm
From Porsche to Mercedes-Benz, here is a look at the five fastest production SUVs around the Nürburgring Nordschleife. Original article: Top 5 Fastest Production SUVs Around The Nürburgring (2024)
- 2025 Hyundai Santa Cruz: Small Pickup Receives Updated Styling, Revamped Interior & New Safety Techby Alvin Reyes on May 4, 2024 at 11:54 am
The 2025 Hyundai Santa Cruz is based on the unibody Tucson crossover and is part of a niche segment with the Ford Maverick and Honda Ridgeline. Original article: 2025 Hyundai Santa Cruz: Small Pickup Receives Updated Styling, Revamped Interior & New Safety Tech
- Escort MAX 4 Review: In-Depth Look at This Affordable Radar Detectorby Carl Anthony on May 2, 2024 at 3:44 pm
The Escort MAX 4 has two Low Noise Amplifiers and a dual-core processor to boost its detection range and filtering capabilities. Original article: Escort MAX 4 Review: In-Depth Look at This Affordable Radar Detector
- Best Used Car Extended Warranty Companies North Carolinaby Automoblog Staff on May 2, 2024 at 3:42 pm
This article reviews at the best used car warranty companies in North Carolina and important considerations when shopping for an extended car warranty in the state. Best Extended Car Warranty in North Carolina A manufacturer-backed extended vehicle warranty has its benefits, like specialized contracts and factory-trained technicians. However, third-party providers offer more flexibility and are often cheaper. Our review team has evaluated every major auto warranty company, taking a look at plan options, costs, customer reviews, industry reputations and more. Original article: Best Used Car Extended Warranty Companies North Carolina
- Emissions Warrantyby Automoblog Staff on May 2, 2024 at 3:41 pm
This guide on emissions component warranties covers the basics of federal emission warranties, catalytic converter warranties, and other emission control warranties. What is a Federal Emissions Warranty? A Federal Emissions warranty is a one-time agreement that is given by a manufacturer to an individual for the purchase of a vehicle. It applies to all vehicles sold in the United States per year and provides the right to repair or replace a defective vehicle at no cost during its warranty period. Original article: Emissions Warranty