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. +
Spectrum Automotive Holdings has established May 19 as National Automotive Dealer Day and Oct. 1 as National Automotive Industry Day via the National Days Archive. +
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. +
The Dealertrack Credit Availability Index fell from 96.3 in March to 95.7 in April, an 0.7% decrease driven by fewer loans extended to subprime buyers. +
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.” +
