Recent News

Average U.S. transaction price hits record $34,077, Edmunds says

The 2016 average U.S. new-vehicle transaction price increased 2.7 percent from 2015 to an all-time high of $34,077 per vehicle, reported today. ... Read More »

Alleged Musk impersonator drops claim Tesla hacked his account

The former oil services executive sued by Tesla Motors for impersonating Elon Musk in an e-mail dropped his claim that Tesla sent someone to a Best Buy store to hack his Twitter account to learn his identity. ... Read More »

GM will launch production, testing of self-driving Bolts in Mich.

General Motors today said it will be the first company to mass-produce autonomous vehicles, with test versions of Chevrolet Bolts equipped with self-driving technology planned to start rolling out of a Michigan plant in January. ... Read More »

Subprime Car Buyers to Feel Fed’s Rate Hike, Analyst Says

WASHINGTON, D.C. — For the second time in 10 years, the Federal Reserve's Federal Open Market Committee unanimously voted to raise the federal interest rate on Wednesday, increasing it by a quarter of a point to a range of 0.50% to 0.75%.Although most...

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Equifax Adds Income, Employment Verifications to Dealer Service Finance Platforms

ATLANTA — Equifax Inc.'s new Automated Income Check solution is designed to help dealers verify a car buyer's stated income and employment. It's powered by The Work Number, a database of employer-provided income and employment information from Equifax Workforce...

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NADAUCG: Wholesale Prices Fall More Than Expected in November

MCLEAN, Va. — Wholesale prices for vehicles up to eight years depreciated more than expected last month, falling 3.3% on a monthly basis. That’s more than double the 1.4% average drop recorded during November the past three years, according to the NADA...

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AutoGravity Unveils Vehicle Financing App

IRVINE, Calif. — Add AutoGravity to the growing list of firms looking to digital the finance portion of the car-buying process. The fintech firm unveiled today a mobile app that will allow consumers in California to finance or lease their new-car purchase....

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SouthwestRe Looking to Add Agents in 2017

ALBUQUERQUE, N.M. — SouthwestRe announced plans to aggressively expand into new territories beginning in 2017. The company is now recruiting independent agents to support this effort throughout the continental United States.“Our expansion plans have...

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Age of autonomy seen endangering legacy car brands

When cars drive themselves, passengers may not care if they ride in a Chevy or a Ford. After a century of building automotive brands based on how they drive, carmakers face an existential threat in the coming age of autonomy. ... Read More »

BMW teams with IBM’s Watson on driver-assist technology

IBM said today that it has partnered with BMW to research how the Watson artificial intelligence system can help with driver-assist functions. ... Read More »