As used vehicle prices continue to fall and net charge-offs increase, access to credit has declined.  According to a recent report by Cox Automotive, the Dealertrack Credit Availability Index fell to 93.0 in January down…

Despite financial institutions’ clear desire to harness the capabilities of generative AI technologies, less than 1 in 10 banks have successfully outlined a viable roadmap for their implementation. This disconnect underscores the challenges banks face…

Fraud is a growing concern for auto dealerships, with one fraud incident on average per year. Despite this, only 21% of dealerships verify identification properly. Many rely on photocopying driver’s licenses (64%) rather than utilizing…

Auto Lenders are at risk for $8.1 billion in fraud annually because loans are financed based on applications containing misrepresentations. Identity theft is cited as the cause of 20% of fraud. Auto dealers are on…

Auto dealerships are experiencing longer vehicle turnover times, with an average of 50.2 days spent on car lots over the last twelve months, marking a 23% increase from the previous year. June and July 2021…