Restructuring Priorities: A Strategic Move Towards Direct Auto Financing Optimizing the Balance Sheet and Relationship-based Lending Citizens Financial Group recently made an important announcement, revealing its decision to cease originating indirect auto loans effective July 1, 2023. This strategic move is part of the group’s overarching strategy to optimize its balance sheet and place greater...Read More

The SMOG laws in California require that all vehicles be inspected and certified to meet certain emissions standards before they can be registered or sold in the state. This requirement applies to both new and used vehicles, including those sold by dealerships. For car dealerships specifically, they are required to have all vehicles they sell...Read More

Exploring the Surprising Inventory Buildup and its Relationship to Government Support for EVs In a surprising move, Ford Motor recently made headlines by announcing significant price reductions for its electric vehicle (EV) lineup. The company’s flagship electric truck, the F-150 Lightning, saw its price drop from $59,974 to $49,995. While Ford attributes this price cut...Read More

Recently, crude oil futures dropped by over 4%, due to the abundance of supplies and doubts about the global economy’s growth. At the same time, interest rates are also on the rise, which could lead to a decrease in fuel demand, which leads to skepticism about the future price of oil futures. There was a...Read More

According to AutoNews.com, in 2023, car dealerships face an ever-increasing threat of fraud. Unscrupulous buyers are increasingly exploiting loopholes in the system by using fake IDs and other false documents to commit car fraud. This growing problem is putting car dealerships at risk of financial losses, legal action, and reputational damage. As part of successfully counteracting...Read More

As a car dealership in California, you must be aware of the potential lawsuit risks that can arise with the increasing regulations, false customer claims, and changing market trends. Here are the top 5 DOs and DON’Ts for lawsuit prevention in 2023: DON’T 1. Don’t ignore updates to existing laws or changes to regulations. It’s...Read More

Navigating the complexities of auto accident claims can be a daunting experience, especially when you’re already dealing with the stress and confusion that follow an accident. Understanding the claims process is crucial for ensuring you receive the compensation you deserve. Whether you’re managing medical expenses, vehicle repairs, or lost wages, having expert guidance can significantly...Read More

Dealers are being targeted. Across the country, attorneys are filing lawsuits over supposed verbal promises made during vehicle sales — even when there’s no written proof. These false verbal misrepresentation claims can cost dealers thousands in legal fees, wasted time, and damaged reputations. At Auto Legal Group (ALG), we’re helping dealerships fight back. In a recent arbitration, our team won a major victory when...Read More

Examining the Financial Sentiments and Future Prospects of Generation Z Research Highlights Concerns and Optimism According to a recent study conducted by Experian, approximately 70% of Gen Z and millennial consumers express concern that the current economic environment is impeding their ability to attain financial independence. Additionally, more than 1 in 4 respondents do not...Read More

Navigating Changes: Insights into the Decrease of Wholesale Prices and Vehicle Condition Navigating the Automotive Market Amidst Shifting Dealer Practices The automotive market is a dynamic landscape, often influenced by a multitude of factors. In this ever-changing environment, recent observations from Black Book’s team shed light on intriguing shifts that are shaping the industry. From...Read More