Cox Automotive analysts say the average price of a pre-owned vehicle purchased from a U.S. dealer ticked down to $25,393 in August as sales improved amid a strong showing for CPO units. +
Gov. Gavin Newsom is expected to sign the California Combating Auto Retail Scams Act, which was modeled in part after an FTC initiative that stalled in a federal appeals court in January. +
Americans spent an average of $49,077 to buy a new vehicle in August as KBB analysts report the biggest year-over-year price hike since 2023, driven by new models and strong EV sales. +
Representatives of major trade associations tell Automotive News a study that found evidence of discriminatory auto lending practices relies on flawed methodology and incomplete data. +
JPMorgan Chase, Fifth Third and Barclays are among the credit line providers facing massive losses as retailer and subprime lender Tricolor Auto enters bankruptcy proceedings. +
Protective Asset Protection has launched an AI-fueled expansion to its Protective Training Institute, including the integration of Anomaly Labs’ AutoTrainer coaching and roleplaying tool. +
A new Carleton survey of 2,000 U.S. lending, bank, auto finance and fintech professionals finds the majority experience loan payment discrepancies on a weekly or monthly basis. +
U.S. auto dealers remain confident in the market despite slowing profitability and traffic, expressing “cautious optimism” thanks to strong sales and low unemployment. +
Hyundai and Genesis dealers set new one-month records in August, a month that saw double-digit year-over-year gains for some factories and single-digit losses for others. +
Experian’s Q2 auto finance report shows stability in loan amounts, monthly payments and delinquencies, belying a fight for auto finance market share that banks are now winning. +
