Wolters Kluwer’s Digital Transformation Index shows the adoption of digital workflows ticked down by 2.3% from the second quarter but improved by 4.3% year-over-year. +
Carleton’s Tim Yalich urges dealers and finance sources to face the “critical reality” of the complexity, challenges and profitability risk that underlies lease payment calculations. +
Kelley Blue Book reports the average transaction price for a U.S.-sold new vehicle exceeded $50,000 for the first time in September despite increased incentive spending. +
Edmunds reports the average amount owed on upside-down car loans reached a new record of $6,905 in the third quarter as more new car buyers traded in vehicles burdened by negative equity. +
Despite tightening among captive finance companies, the Credit Availability Index was essentially flat on a month-to-month basis in September, ticking back up to July’s 98.1 mark after falling by 0.2% in August. +
Martin D’Amato has been sentenced to seven years in state prison for stealing $1.3 million from the New Jersey dealership where he served as internet director. +
Ford has followed General Motors by unwinding a program intended to claim expiring $7,500 federal EV tax credits for future customers under pressure from U.S. Sen. Bernie Moreno. +
Executives say increased financing options with familiar partners will help Amazon-partnered Hyundai dealers reach more used car buyers and sell more F&I products. +
GM tells Bloomberg the factory will replace the expired $7,500 federal EV tax credit with $6,000 in “lease support” cash following unrelated reports of a similar move at Stellantis. +
Fifth Third Bancorp will acquire Comerica Inc. in an all-stock transaction valued at $10.9 billion, creating the nation’s ninth-largest bank with approximately $288 billion in assets. +
