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Auto Loan Access Keeps Falling
The reduced credit access came in all channels and lender types. Pexels/Pixabay Auto loans were harder to get for the fourth month in a row as approval rates declined and other measures made credit more challenging to come by in July. Though the average loan rate fell by seven basis points for an 80-point decline…
Auto Recalls Up in Q1
Air bags were the leading cause of first-quarter recalls by volume. Pexels/Dietmar Janssen U.S. automotive recalls rose in the first quarter, though the number of affected units fell, according to Sedgwick data. The 9% jump brought the total number of recalls to 262 while the total of recalled units dropped 15% to 12.5 million, the…
Dealers Wary of AI in Auto Finance
More dealer finance teams report disliking AI’s influence in auto finance processes, including what they perceive as a lack of creative freedom. Pixabay/Raten Kauf Dealer finance providers are ranked for dealership satisfaction in a newly released report that also finds dealers dislike the growing role of artificial intelligence in auto lending. The J.D. Power U.S.…
BMW App Gets ICE Owners Thinking About EVs
Electric Vehicle Analysis feature is new to the My BMW application. BMW is trying to leverage its driver mobile application to nudge owners of gas-powered models to consider switching to electric. The My BMW app now includes the Electric Vehicle Analysis function that shows owners how many trips an electric BMW could have made on…
EV Charger Solution Said to Work for All Models
The maker of the Omni Port connector says it supports EVs from all automakers. ChargePoint A major electric-vehicle public charging network provider introduced a dual charging port that it says accommodates EVs by any maker. ChargePoint says its Omni Port is the “only publicly available solution to solve North America’s EV connector confusion across AC…
SUVs Probed Over Seat Belt Failure
The NHTSA is investigating 2020 to 2023 models of the Palisade to determine the scope of the seat belt issue. Some Hyundai Palisades’ seat belts can unlatch on their own, moving a regulatory agency to open an investigation due to the risk of injury. More than 330,000 units of the SUV’s 2020 to 2023 model…
Ford Gets Into the Bike Business
The anniversary-edition of the Mustang e-bike will be sold through Ford dealers. It looks like Ford dealers may be switching to two wheels for some sales. As Ford downshifts its electric vehicle production due to subdued demand, it’s introduced two electric bicycles inspired by the Mustang and the Bronco, both of which it launched in…
Thousands of BMWs Recalled
Certain X7 SUVs are included in the recall to address a starter motor issue. BMW recalled more than 100,000 vehicles over a starter issue that can lead to overheating. The recall includes 2019 and 2020 X5s and X7s, 2020 3 Series sedans and X6s, 2020 and 2021 7 Series sedans, and 2020 8 Series convertibles,…
Reynolds Acquires TSD Mobility Solutions
Reynolds President Chris Walsh Reynolds and Reynolds The Reynolds and Reynolds Co. acquired TSD Mobility Solutions, a provider of fleet-management software and services. TSD designs and develops fleet mobility solutions for dealerships, manufacturers, public automotive groups and rental car companies. Operating in 92 countries and on six continents, the company helps over 16,000 dealerships and…