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. +
Subaru will raise prices on nearly every U.S.-sold model starting in June, according to Motor1 and other sources, citing “market conditions” without specifically mentioning new tariffs. +
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%. +
The Cox Automotive/Moody’s Analytics Vehicle Affordability Index decreased by 1.6% in April after hitting a 45-month high in March. Analysts blame tariffs for rising prices and payments despite strong economic indicators. +
A $60 million settlement agreed to by Toyota Financial Services following charges of noncompliant F&I product sales has been canceled by the U.S. Consumer Financial Protection Bureau. +
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. +
Carvana increased sales by 46% year-over-year in the first quarter, moving 133,898 units and generating $4.2 billion in revenue, both all-time quarterly records, following a similarly positive Q4 report. +
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.” +
