Auto lending has an unprecedented rise in sophisticated fraud, with loss exposure growing to a record $10.4 billion in 2023. That number marks a 13 percent jump compared with the previous year’s loss estimate of $9.2 billion. The surge wasn’t isolated. Instead, it signifies the rising impact of organized criminal rings that leverage high-tech tools, […]
Exploring Arizona’s Legendary 40-Acre Classic Car Treasure Trove
For many people, the thought of a garage full of old, dusty cars is an alluring fantasy. In most places, though, cars have a short lifespan. Years of wind and rain beat them down until they become unrecognizable heaps of metal scraps. The dry, desert climate of Arizona, however, allows for such abandoned vehicles to […]
Beyond the Headlines: China’s Major Auto Industry Consolidation
Beijing’s move to permanently withdraw car manufacturing permits from eight domestic brands, Zotye among them, and the struggling Brilliance Auto Group (among others) has captured significant attention around the world’s automobile business. On the surface, Beijing appears to simply be tightening standards and taking aim at car companies falling short. However, this is not just […]
Subprime Auto Borrowers Face Scrutiny Amid Rising Defaults
Evidence of stress in the U.S. Auto loan market is starting to emerge, and these developments are increasingly difficult to brush aside. A sector previously perceived to be resilient and functioning smoothly due to credit availability is now experiencing fractures, with a particular focus on the subprime sector. An upward trend in consumer complaints, delinquency […]
NIO Charts Growth Path Amid China’s Auto Market Downturn
Warning Chinese rival carmakers “We should give up any delusion about any future recovery” William Li, chairman, CEO, founder NIO Inc has warned the Chinese domestic auto market could shrink by 15% to 20% this year the exact opposite to the mood of previous years. NIO Inc founder and CEO has delivered a grave warning […]
Canada’s Auto Future at Stake in Ford, Unifor Talks
Toronto-The air here is thick with anticipation as perhaps the most consequential labor negotiations in a generation are set to get underway. Unifor, Canada’s largest private sector union, is now officially at the table with Ford Motor Company in a negotiation that promises to be a difficult and defining moment for Canadian workers. This isn’t […]
California Auto Sales Face Potential Halt Over New Privacy Law
An epic battle looms between the titans of the auto industry and the Golden State of California, heading toward a June 30 deadline that could shutter the sale of new and used cars in the nation’s No. 1 car market on July 1. At the crux of the conflict: a new state privacy measure ostensibly […]
Idaho’s Sprawling Car Sanctuary: Unearthing Gems at L&L Classic Auto
For any classic car lover, a place that boasts a trove of old models will feel like taking a journey back in time. Tucked away just outside of the rural Idaho town of Wendell, L&L Classic Auto has become the type of unique destination for restorers, collectors, repairmen and the just plainly curious to come […]
Li Auto Targets Tesla FSD with In House AI Chip and Bold Roadmap
Li Auto Declares Open War on Tesla With Full-Stack AI Push “Chinese electric vehicle maker Li Auto has officially thrown down the gauntlet. The company today laid out a full-stack AI strategy that aims to fundamentally disrupt Tesla’s autonomous driving leadership.” Reuters (via Inside EVs). “The company stated at its comprehensive software and embodied intelligence […]
Unpacking the High-Stakes US-EU Auto Tariff Battle
There are not many global sectors that spark as much debate and heat as automotive. It involves international finance, national interests and advanced technology, where one policy change can reverberate across global financial markets by billions of dollars. In a trade war of titanic proportions that may define the costs, as well as the wherewithal […]