TrueCar Settles California Dealer Suit
TrueCar has agreed to switch California auto dealers from a pay-per-sale to a flat-fee subscription model and double their indemnity to $50,000 to settle a lawsuit brought by the California New Car Dealers Association.
Scott Painter’s Fair Now Offers Insurance Coverage
Through a partnership with risk-management services provider Assurant, Fair's digital flexible ownership platform now allows consumers to add insurance coverage when they sign for a pre-owned vehicle through its mobile app.
Fed Reserve Raises Interest Rates
One industry analyst said the quarter-point hike will result in new-vehicle sales dropping below 17 million units in 2018, noting that the Fed Reserve’s previous three increases are responsible for fewer new leases and this year’s shift from new to used.
TransUnion: Subprime Pullback to Continue in 2018
Replacement demand from hurricanes Harvey and Irma should provide a temporary boost in new-vehicle demand to open 2018, but TransUnion officials said consumers will shift toward the used-vehicle market as finance sources continue to tighten credit underwriting standards.
Cox Automotive Files Antitrust Lawsuit Against CDK Global
Add Cox Automotive to the growing list of tech vendors and dealers alleging that CDK and Reynolds and Reynolds Co. conspired to eliminate competition for data integration services and seize control over dealer and third-party data.