Chairman Jerome Powell announced an expected reduction to the Federal Reserve’s target lending rate, which now sits at 3.5% to 3.75% after three quarter-point cuts this year. +
AI expert Devin Daly believes the fractured nature of dealership operations means “generic” solutions like ChatGPT may be helpful but can’t create the “control layer” dealers need. +
Experian Automotive’s Q3 auto finance report finds EVs were leased at a significantly higher rate than a year ago, setting the stage for a future disruption to the used car market. +
Cox Automotive’s Q4 Automotive Dealer Sentiment Index finds dwindling optimism among retailers as escalating costs, prices and uncertainty affect profits and consumer confidence. +
U.S. dealers enjoyed gains in F&I profit per vehicle retailed, products per deal and monthly F&I income in the third quarter, offsetting losses in average front end gross and total gross per vehicle. +
DataBreach.io reports records stolen from 700Credit in an October cyberattack are being offered for sale on the dark web with an asking price of $8.4 million. +
Automotive News’s latest U.S. new-vehicle sales report shows slowing EV sales in the wake of an expired federal tax credit, offset by steady demand for trucks and hybrids. +
More than 1 million U.S.-sold and Panoramic View Monitor-equipped Toyota, Lexus and Subaru units are subject to a new recall due to an issue with rearview camera images. +
CDK analysts report U.S. dealers earned a 66% “Easy to Purchase” score last month, down from 85% in October and the single lowest score in the survey’s history. +
Numa’s newest tool was designed to enhance communications with service advisors, parts teams and BDC reps by adding customer-specific context to every call and voicemail. +
