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The average owed on the under-water trade-ins in the third quarter was $6,905, a historical record.Pexels/Mikhail Nilov As Americans with deep pockets pumped up September new-vehicle sales, raising transaction prices to record highs, a different story played out among highly leveraged consumers pushing growing debt burden into the future.Third-quarter statistics compiled by auto data provider…

A 1959 Vespa 400 recently on display at a micro cars exhibit in California  Hannah Mitchell I recently checked out a microcars exhibit at the Lyon Air Museum next to John Wayne Airport in Santa Ana, Calif. I’ve always wanted a vintage car, so this was right up my alley, and the collection of tiny…

The highest percentage of U.S. fraud scheme instances came in account takeovers at 31%. Pexels/RDNE Stock Project U.S. businesses are taking a 10% hit to their revenue due to fraud losses, recent research shows. The average impact in the past year, which surpassed global company losses of 8%, totaled $114 billion, based on a survey…

California continued to lead the U.S. in electric-vehicle adoption last year with about 29% of the country’s new-EV sales market, and adoption wasn’t reserved to the more populous coastal regions. A report by London-based EV data provider Rho Motion shows nationwide EV penetration at a comparatively low 10% last year.  Though California represents 11% of…

One industry watcher says it’s time for auto dealers to refocus on subprime consumers, especially for used vehicles. Pexels/Katie Harp Squeezed from every direction, many automotive consumers are finding themselves on precarious footing, shut out of credit access, deep in negative equity on existing loans, or stretching thin to force barely palatable payments. Auto dealers…

When U.S. auto consumers are in the market for a different power train than their current models, they’re more likely to switch brands for the change-up. In fact, loyalty to power train type is significantly greater than brand loyalty, S&P Global Mobility says it found. Of households shopping for a new vehicle, 74% stick with…

Protective Asset Protection’s new appearance-protection program offers interior and exterior coverage options, including ceramic and graphene coatings, designed to help dealers protect vehicle value and appearance. F&I and Showroom Protective Asset Protection has expanded its paint-and-fabric product into a full appearance-protection program, offering dealers and customers broader coverage for both interior and exterior vehicle surfaces.…

Toyota’s Sequoia has the best chance of any studied vehicle to last 250,000 miles, iSeeCars.com’s research. The auto brand whose models best stand the test of time – and wear and tear – comes as no surprise. World best-seller Toyota outsteers all competitors in terms of lineup longevity, with the longest-lasting model in the Sequoia…

The days of static financial planning are long gone. Instead, this task should be ongoing. Pexels/Karolina Grabowska The automotive industry is no stranger to change, from evolving consumer preferences to technological advancements. However, a less predictable yet equally impactful force is ever-shifting tax legislation. The recent “One Big Beautiful Bill Act,” or OBBBA, signed into…

Honda’s U.S. division partnered with Sony Group Corp. to create the Afeela auto brand. A Honda joint venture that’s made a luxury electric car opened a temporary “studio” in Silicon Valley. The Afeela brand pop-up in San Jose will operate for six months, according to Sony Honda Mobility of America, the venture between Honda’s U.S.…