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The complaint claims auto auction competitors collaborated to prevent ACV Auctions from gaining access to AutoIMS.
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Group 1 Automotive Inc. will focus on growth through acquisition in the U.S. and UK, says Daryl Kenningham, incoming president and CEO.
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According to the Cox Automotive forecast, the August U.S. auto sales pace, or SAAR, is expected to finish flat month over month at 13.3 million, up from last year’s 13.1 million level.
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As used originations increase, credit unions reach nearly 26% total vehicle financing market share, the highest volume in five years.
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Car shopping gained share among both luxury and non-luxury shoppers in Q2 amid high gas prices, increased average transaction prices and ongoing vehicle supply challenges.
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Reaching the Biden Administration’s goal of 50% of U.S. new vehicle sales being BEVs by 2030 is unlikely, says Jack Hollis of Toyota in a webinar.
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J.D. Power and LMC Automotive report predicts average new vehicle transaction prices will hit a record $46,259 in August.
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Lower consumer demand has impacted buyer behavior at auctions around the country, but this past week, sellers began to hold firm on floors and the sales rate reflected this change in behavior.
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Ford Motor Co. will eliminate 3,000 jobs globally, according to a letter sent to employees Monday.
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Tesla faces new competition as new electric vehicle manufacturers come onto the scene.
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