Auto loan delinquencies tick up, dealers wary of A.l. lending tech, new universal EV charger

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— CDG

1. Rising delinquencies cast shadow over auto lending

Consumers are pulling back on auto loans as economic headwinds mount, with TransUnion reporting a dip in originations across most credit tiers.

Why it matters: Rising interest rates and a shaky economy are driving more buyers to pay cash, while delinquencies, especially in the subprime category, ticking up.

As the labor market weakens, auto lending could face more challenges ahead, despite a drop in car prices offering some relief.

All eyes are on the Fed as it weighs its next move … Read more

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2. Dealer finance teams worry over spread of AI in lending

Dealers are increasingly uneasy about A.I. taking over automotive financing, even as vendors promise big benefits.

Why? A new J.D. Power survey reveals that over half of dealership finance teams are uncomfortable with the shift, fearing the loss of human touch and creativity.

But this isn’t the first time technology has upset the status quo … Read more

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3. ChargePoint unveils universal 'Omni Port' EV plug

ChargePoint has upended the EV charger game with a new plug that works with both major connector types, solving a major headache for drivers.

What’s happening: The “Omni Port” combines the CCS and NACS into a single plug, removing the need for pricey adapters.

While automakers are moving towards the NACS standard, this universal charger is a timely solution for current EV owners … Read more

• Volvo hikes price on luxury electric SUV but cuts features.

• GM says it can still make things work in China.

• Kia and Hyundai break-ins are still rampant despite security updates.

• This month's best EV lease deals under $200,

• Plug-in vehicles outsell ICE cars in China after record July.

Thanks for reading everyone.

— CDG