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.
GM workaround for shipping snags: Dealer pickup from the factory
GM increased compensation for dealerships that send their own staffers to pick up vehicles from certain factories to more than $1,000. Thousands of stores have made the effort to increase inventory and keep customers from waiting.
Tesla Semi will be the one to watch at truck performance tracking event
The North American Council for Freight Efficiency’s “Run on Less – Electric DEPOT” will record performance, charge management and other metrics for three weeks.
Asbury agrees to buy Jim Koons group for $1.2 billion in ‘transformative' acquisition
Asbury’s agreed-to purchase of Jim Koons Automotive Cos. would be the largest acquisition in the dealership space since 2021.
Volvo Cars cuts jobs and expenses in U.S., Canada to prep for EV era
The restructuring of Volvo’s U.S. and Canada operations is part of an $88 million global initiative to tighten spending, drive efficiencies, and update the work force. It does not affect Volvo’s production network.