A March 2023 survey of over 2,500 auto finance executives revealed that 95% have started using artificial intelligence in some aspect of their business. Loan processing and funding was the area in which AI was…

According to Automotive News’ annual dealership census, the number of U.S. dealerships increased 0.4% last year.   The number of exclusive dealerships rose 1.6%, and the number of import-badged exclusive dealerships grew by 2%.  Hyundai added…

Rising interest rates are exacerbating the vehicle affordability problem despite lenders concessions. Vehicle prices increased significantly in 2020 and 2021, driven by new vehicle shortages during the pandemic.  While used vehicle prices have begun to…

Cox Automotive’s analysis of Auto Available Inventory data showed that new-vehicle inventories reached its highest level in two years in March.  The U.S. supply of unsold vehicles ended the month at 1.89 million, the highest…

Average negative equity on vehicle trade-ins has nearly returned to pre-covid levels.  Rising used vehicle prices in 2020 and 2021 caused average negative equity to fall by a third to a low of $4,000 in…