Tekion buys vehicle registration technology company Five64
The dealership management company wants to simplify interstate vehicle purchases for dealers. Five64 filed for Chapter 11 federal bankruptcy protection in April.
Fed raises interest rates 0.25 of a point as new-car loans loom at 7%
The Federal Reserve on Wednesday, July 26, increased its benchmark rate target 0.25 points to 5.25-5.5 percent,a decision that could leave auto dealerships and customers dealing with higher interest rates on car loans. New-vehicle auto loans were up to an average 7.2% APR and used-vehicle loans at 11% in June, according to Edmunds.
Stellantis CEO Tavares defends absence from UAW talks
The Stellantis CEO labeled criticism from UAW President Shawn Fain “posturing” as the two sides begin a critical round of negotiations.
Auto industry exec, lawmakers stress China risk in revived AV policy debate
John Bozzella, CEO of the Alliance for Automotive Innovation, likened the situation to the transition to electric vehicles, citing China’s early strategic investments in EV technologies and its control of battery supply chains.
How Toyota and Chevrolet are advertising their 'Blue Beetle' and 'Barbie' cameos
“Blue Beetle” premieres in theaters on Aug. 18, following the “Barbie” premiere in July.