Revving up: Top 5 powersports stories of 2023
The powersports industry in 2023 was marked by waning consumer demand, elevated interest rates and technological advancement. Powersports lenders increased…
‘Pervasive fraud of rather extraordinary proportions’ seemingly found by Tricolor trustee
Lawyers for Tricolor Holdings’ trustee confirmed in a court hearing today that the subprime lender is under government investigation for…
New Texas ID rule could affect renewals on 500K vehicles, threaten dealer business
Stricter identification requirements for vehicle registrations and renewals in Texas have prompted a wave of concerns from dealerships along with…
New-vehicle inventory returns to pre-tariff levels
Aggressive incentives and an EV sales surge ahead of the elimination of the federal EV tax credit are shrinking dealer…
GM Financial looks to improve dealer relations, customer experience using tech
NASHVILLE — GM Financial is increasing its investment in auto decisioning and technology to improve dealer relations and customer experience. …
Labor Day weekend already spurring August sales
New-vehicle retail sales are projected to increase in August as incentives continue to help dealers drive sales and move inventory. …
Asbury Auto challenges FTC’s ‘payment packing’ complaint
Asbury Automotive is challenging the FTC’s accusations that it engaged in deceptive aftermarket product sales practices or “payment packing” at…
Auto lenders, dealers face heightened state enforcement as CFPB ex-Director Chopra advises attorneys general
Auto lenders and dealers should prepare for stricter state regulation as former Consumer Financial Protection Bureau Director Rohit Chopra seeks to enact his playbook with state attorneys general. The Progressive State Leaders Committee earlier…
June, Q2 vehicle sales reflect resilient demand
Vehicle sales were mixed in June across the major manufacturers but largely pointed to a positive market, while second-quarter sales…
EV maker Fisker files for bankruptcy after its glitchy SUV flops
Fisker Inc. filed for bankruptcy on Monday, months after the electric-vehicle startup stopped production of its only model, the oft-malfunctioning…
Tricolor’s 10K vehicles to be sold by March
Tricolor Holdings trustee Anne Burns plans to sell the buy here, pay here retailer’s 10,000 vehicles through auctions by the…
Tricolor no-shows creditor meeting
More than 150 participants joined a virtual meeting today to ask questions of bankrupt buy here, pay here retailer Tricolor…
Fed’s favorite inflation gauge picks up, in line with forecasts
The Federal Reserve’s preferred measure of underlying inflation accelerated in October from a year ago, helping explain policymakers’ more cautious…
What keeps 6 chief risk officers up at night
Technology-driven financial fraud is escalating rapidly, keeping FIs on their toes. (Courtesy/Canva Dream Lab) Bank Automation News, an Auto Finance…
US inflation broadly cools, bolstering case for Fed rate cut
US inflation cooled broadly in June, driven by a long-awaited slowdown in housing costs and providing another dose of confidence…