Toyota will alert more than 400,000 owners of the 2022-’25 Tundra pickup that a manufacturing defect could cause their reverse lights to fail. Notices are expected to mail in July. +
The California New Car Dealers Association has officially demanded that Honda and its Sony Honda Mobility division stop collecting deposits for the Afeela 1 EV from California residents. +
EVAI founder Ian Gardner says a new survey proves an opportunity exists for dealers willing to leverage data and technology to stay ahead of rapidly evolving fleet service trends. +
Kerrigan Advisors’ latest Blue Sky Report finds single point dealerships represented 79% of buy/sells in the first quarter, up from 68% in 2023, but total transactions fell by 14%. +
Lotlinx’s Len Short digs beneath the headlines to review a litany of first quarter auto retail and finance reports and distills them into four key points in his latest contribution to DealerELITE. +
The Dealertrack Credit Availability Index fell from 96.3 in March to 95.7 in April, an 0.7% decrease driven by fewer loans extended to subprime buyers. +
Kelley Blue Book reports U.S. average transaction prices increased by 2.5% for new vehicles between March and April while Carfax finds used units enjoyed an unusually large “spring bounce.” +
U.S. and Chinese officials announced a 90-day pause on steep tariffs imposed upon each other’s exports, including vehicles and parts, in a sudden de-escalation that could lead to a long-term agreement. +
More than 1,700 New Yorkers who bought out leases arranged at eight Nissan dealerships will get a share of a $3.2 million settlement the dealers reached with Attorney General Letitia James. +
Chairman Jerome Powell says the Federal Reserve will not reduce its target lending rate, holding at 4.25% to 4.5% as evolving economic and trade policies make future conditions difficult to predict. +
