Kelley Blue Book reports an average transaction price of $49,220 in May, down 0.5% from April but up 1.2% year over year amid heavier incentive spending. +
A New York City agency announced that Honda of the Bronx has agreed to settle a lawsuit alleging more than 350 violations of consumer protection laws. +
The Cox Automotive/Moody’s Analytics Vehicle Affordability Index increased from 35.1 in March to 35.2 in April after five months of incremental improvement. +
S&P Global Mobility will offer its FeeSync platform to all U.S. dealers for no charge, providing a single, secure interface for fee structure changes. +
TrueCar will implement a new vehicle pricing standard as part of an effort to help dealers remain in compliance with federal regulations against deceptive tactics. +
Kelley Blue Book reports trucks and SUVs are largely to blame for April’s average new-vehicle transaction price of $49,461, a 1.8% year-over-year increase. +
Vehicle history reports for pre-owned vehicles that were sold and solely serviced by the same dealership will now carry a “Carfax Homegrown” badge. +
Reuters reports U.S. sales of new hybrid vehicles have increased along with fuel prices since the start of the U.S.- and Israel-led war with Iran in late February. +
TransUnion’s latest report finds the superprime and subprime credit tiers are growing, thinning the “middle” tiers while pressure rises for nonprime borrowers. +
Automotive News reports sales of new Hondas improved on a year-over-year basis in April, offering a bright spot in a report dimmed by growing affordability concerns. +
