Lender Westlake is using AI to make more auto loans
Westlake Financial is working with Pagaya Technologies Ltd. to make auto loans using artificial intelligence, targeting a void left by some lenders that have been pulling back from the business......»»
MacWhisper can now auto-translate transcripts into other languages
MacWhisper is a popular tool that uses AI to quickly transcribe audio. The app has been getting a lot of updates in recent weeks, and its latest version introduces the ability to auto-translate transcripts into other languages. more….....»»
Fed"s Powell doesn"t rule out small rate cut in September
Investors foresee and Federal Reserve Chairman Jerome Powell hasn't ruled out a cut to the Fed's benchmark rate target in September, a move that could lower the interest rates on car loans......»»
Big utilization drop for North American auto factories on the horizon as EV production begins
Automakers will build less than two-thirds of their vehicle assembly capacity in 2030, according to GlobalData......»»
More dealerships close as Tropical Storm Debby lingers over Southeast
One state auto dealer association leader said he was concerned about the slow-moving nature of the storm......»»
China"s Dongfeng in pole position to build an auto plant in Italy, report says
The Italian government could join Dongfeng with a minority stake in the investment which aims to set up a production hub for the whole of Europe......»»
Audi and Costco Auto Program bring back new-vehicle incentives
Audi and Costco Auto Program brings back new-vehicle incentives with three incentives available: $1,000, $1,500 or $3,000......»»
Tropical Storm Debby brings heavy rain, wind to Florida, Southeast auto dealers
Debby made landfall in Florida as a Category 1 hurricane early Aug. 5. It's expected to bring heavy rain, flooding and gusty winds to the Southeast through midweek......»»
First 3D visualization of an aluminum nanocomposite for the auto industry
Manufacturing cars with strong, lightweight aluminum alloys rather than steel could improve fuel efficiency and extend electric vehicle range, but the material's instability at high temperatures has held the alloys back from widespread adoption......»»
EVs are holding strong, but U.S. elections may rock the boat, report finds
The midyear Market Outlook Report from Dave Cantin Group and Kaiser Associates found that EV sales are starting to drive steady growth. Meanwhile, a volatile political landscape and Supreme Court decisions complicate auto industry plans......»»
Mobileye slashes annual forecasts on uncertain demand; shares fall
Mobileye Global cut its annual revenue and profit forecasts on Thursday, slammed by volatile demand for its driver-assistance chips in China, even as it recovered from a sales slump brought on by a global auto inventory glut......»»
Auto suppliers continue to face worker shortage and high costs
The Federal Reserve indicated labor supply and demand are in sync in the U.S. economy for the first time in years. But suppliers are still lagging behind......»»
Credit Acceptance posts Q2 net loss of $47.1 million as auto lender revamps cash flow forecasting
The average Credit Acceptance second-quarter auto loan financed $26,816 in principal and interest, paid the dealership a $12,278 advance and was slated to run for 61 months......»»
CarShield, American Auto Shield to pay $10M in settlement on false advertising claims
The FTC said the companies' celebrity endorsers made false statements in ads and/or have not used the service contract products. Contracts also do not cover all repairs as stated in the ads, the FTC said......»»
Penske Automotive Q2 net income falls 20% on higher interest costs
Penske Automotive Group net income dropped in the second quarter, though the auto retailer posted record second-quarter revenue of $7.7 billion......»»
Owner of Nashville auto business indicted on felony tax evasion and theft
Owner of Nashville auto business indicted on felony tax evasion and theft.....»»
BYD preparing to enter Canadian EV market, documents show
Joe McCabe, CEO of AutoForecast Solutions, said the U.S. auto market is BYD’s “holy grail,” but the company is likely to use both Canada and Mexico as “ports of entry.” .....»»
It Looks like Xiaomi’s SU7 is Selling Well
Xiaomi nears its ambitious year-end goal. The post It Looks like Xiaomi’s SU7 is Selling Well appeared first on Phandroid. Following its debut into the EV market a while back, smartphone (and now auto) manufacturer Xiaomi stated that.....»»
Former dealer Joe Maus returns to auto retail with Chevrolet store
Former auto dealer Joe Maus purchased a Chevrolet dealership in South Carolina, his first acquisition after selling his stake in other stores the past few years......»»
Grand Theft Auto 6 is unaffected by the video game voice actors strike
A lot of games could be affected by the SAG-AFTRA video game actors strike, but Grand Theft Auto 6 isn't one of them......»»
Threat of slimmer used-car profits, supply allows for little slack in 2024, dealers say
Franchised dealership and auto retail group leaders spoke with Automotive News in June and July about used-car market certainties and uncertainties in 2024......»»