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Navigating Inflationary Pressures on Vehicle Ownership: A Guide for Auto Dealers

AutoSuccess

Interest Rates : Interest rates for auto loans have risen sharply. Higher rates lead to increased monthly payments, making vehicle financing more challenging. According to Cox Automotive’s June 2024 Auto Market Report, the average new car loan interest rate is 10.1% for used car loans. cents per mile in 2022.

Vehicle 98
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A Look at How Auto Lenders and Retailers Continued Back Office Digital Adoption in Q4

AutoSuccess

The auto finance and retail industries continued to embrace the adoption of digital documentation and back-office strategies toward the end of 2024. Over the past four years, digital adoption in the auto finance sector has surged by 106%, illustrating a long-term strategic shift toward modernization. auto market.

Retail 40
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Report shows consumers ‘speaking with their wallets’ on affordability concerns

Auto Remarketing

In a recent appearance on the Auto Remarketing Podcast , Roberts issued a reminder that the rate cut announced was for the federal funds rate, which doesn’t automatically apply to auto financing. That doesn’t mean it’s immediately going to trickle through and get into used vehicle financing rates,” he said. “I

Finance 52
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COMMENTARY: AI and auto — perfecting pricing strategies

Auto Remarketing

AI for merchandising is not the only way this innovative new technology is shifting the auto remarketing industry, however. Auto dealerships are also embracing new AI tools for enhancing customer service and reshaping how they price their vehicles.

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Cox Automotive Makes World-Class Connections at NADA 2024

AutoSuccess

“We are excited to showcase the most complete and connected ecosystem in the auto industry at the NADA Show 2024, which is undoubtedly the auto industry’s event of the year.” auto market in 2024 , auto dealers face many new challenges: tighter margins, new technology, and a shift to a more electrified future.