U.S. Bank names Gunjan Kedia CEO
U.S. Bank has named Gunjan Kedia chief executive, effective April 15. Kedia will succeed CEO Andy Cecere, who will serve as executive chairman and…
After Fed rate cut, Powell says jobs market no longer very solid
Federal Reserve officials lowered their benchmark interest rate by a quarter percentage point and penciled in two more reductions this…
Podcast: Incentives pick up, dealers eye LTV requirements
Affordability, credit performance, leasing and digital innovation have been top of mind for auto lenders in 2024. Car shoppers saw…
Tariffs pose risk to stabilizing auto market, experts say
The shares of many of the world’s largest automakers fell today after tariff negotiations executed by President Donald Trump fueled…
Used-EV values up 1% ahead of tax credit expiration (Big Wheels)
Used-EV values have climbed as the federal tax credit expiration date approaches, creating uncertainty around demand. The Exponential Used Electric…
Ford joins Harley in scaling back DEI policies amid backlash
Ford Motor Co. told employees it would modify its diversity, equity and inclusion initiatives and end participation in a notable…
Auto finance fraud up 16.5% to record $9.2B
Auto fraud exposure hit a record high in 2024, spurred by affordability challenges and increasingly sophisticated fraud tactics. Auto lenders’…
Tricolor interest payouts clawed back from bondholder accounts
Some Tricolor Holdings asset-backed bond holders who received interest payments last week have seen those funds clawed back in recent…
Inside Autonomy’s $25M funding, expansion plans
Electric vehicle subscription company Autonomy will double the size of its fleet and expand beyond Tesla vehicles after securing a $25 million investment. The…
Big Wheels: Auto finance industry improves in March
The auto finance sector continued a positive trajectory in February and March after a notable decrease in auto loan rejection…
Renault CEO’s resignation throws fragile turnaround into doubt
Renault SA’s impending loss of Chief Executive Officer Luca de Meo calls into question the French carmaker’s recovery, with the…
Fed’s Powell says strong labor market depends on price stability
Federal Reserve Chair Jerome Powell again stressed the central bank must ensure tariffs don’t trigger a more persistent rise in…
Black Book: Used-powersports values to normalize by yearend
LAS VEGAS — Motorcycle and other powersports used-vehicle values are on the verge of settling back into historical seasonal trends…
Sonic-owned Northwest Motorsport shuts down
Sonic Automotive-owned, used-car dealer group Northwest Motorsport closed its doors Jan. 23, citing market concerns. The Puyallup, Wash.-based dealership ceased…
US consumers hit the brakes while goods imports sink by a record
US consumers hit the brakes in April while goods imports plummeted by a record as companies adjusted to higher tariffs….