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Industry analysts suggest it could cost dealers hundreds of thousands annually to comply with the new rules.
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The average price of a new car hit $45,000 in September and reached $25,000 for the average used car, according to Kelley Blue Book.
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High demand amid limited new vehicle inventory has driven up used vehicle prices. But it’s also impacting the rate their values are depreciating.
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Presented by F&I and Showroom magazine and sponsored by Spectrum Automotive Holdings, the annual awards program recognizes dealerships with highly profitable F&I departments.
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Lease credit approvals reached 67.6% in September; Down from 71.3% in August, according to Swapalease.
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Agency updates Safeguards Rule to better protect the American public from breaches and cyberattacks that lead to identity theft and other financial losses.
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The lack of new inventory is continuing to drive up the demand for used vehicles, which in turn is forcing buyers to pay more week after week and leaving sellers wishing they had more to offer.
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Letter penned by Canadian Trade Minister Mary Ng suggest proposed EV tax credits will harm North American auto industry and violate trade agreements.
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IHS Markit forecasts lows in light-vehicle sales and production will give way to increases ahead.
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The acquisition of Mojo Consulting further accelerates NAC’s acquisitive growth strategy, which focuses on partnering with like-minded, high-growth F&I companies that value a team-oriented culture.
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