Auto loan denials spike, Uber and Cruise partner up, Canada averts railroad strike

Hey everyone. Tesla quietly scrapped its no-resale clause on the Cybertruck, letting owners sell without the fear of lawsuits or blacklists.

Initially, Tesla tried to clamp down on flipping by threatening $50,000 fines and blocking future purchases.

But with the resale market cooling off and plenty of trucks on hand, Tesla’s finally loosening its grip.

— CDG

1. Auto loan rejection rates spike this summer

Auto loan rejections hit their highest point in over a decade.

Driving the news: Elevated borrowing costs, combined with high vehicle prices, are making it harder for consumers—especially those with credit scores under 680—to secure financing.

Even as fewer people plan to apply for auto loans, lenders are growing more selective, leaving many potential buyers on the sidelines … Read more

2. Uber and Cruise join forces for autonomous ride-sharing

Big picture: Uber will introduce Cruise self-driving robotaxis to its platform in 2025, starting with a limited rollout in select U.S. markets.

Owned by General Motors, Cruise is still recovering from a serious accident last year, which led to regulatory setbacks and internal shakeups.

As Tesla prepares to unveil its own robotaxi service, the race to make self-driving cars profitable is heating up … Read more

The Auto Hauler Exchange has revolutionized the way vehicle haulers and vehicle shippers collaborate. AHX's B2B marketplace connects vehicle haulers directly to shippers in a frictionless manner.

The Exchange helps vehicle haulers maximize their capacity while limiting empty miles. The Exchange is the first true B2B marketplace of its kind in the vehicle logistics industry.

By connecting carriers and shippers directly, carriers can save time and choose which opportunities fit their needs each day.

At the same time, shippers can rest assured that their vehicles are being moved by qualified, vetted carriers who fit their vetting program.

The Auto Hauler Exchange has democratized the vehicle logistics industry by eliminating the middleman and connecting shippers directly to available carriers.

Get off the vehicle hauling roller coaster today with Auto Hauler Exchange.

3. Canada's government prevents rail shutdown, protecting auto industry supply chain

Canada narrowly averted a railway shutdown that could have wreaked havoc on the U.S. auto industry and the broader economy.

What’s happening: After Canadian National Railway and Canadian Pacific Kansas City locked out employees over a union dispute, the Canadian government stepped in to end the standoff.

A prolonged shutdown would have severely disrupted the North American supply chain, but quick intervention helped avoid a major economic blow … Read more

• How China became the leading car supplier to Mexico and what it means for the U.S.

• VW scales back plans for battery cell plants in Europe and North America.

• GM and Stellantis slash jobs in Michigan — but pocket tax breaks.

• BMW tops Tesla in EV sales for the first time as gap narrows in Europe.

• Acura ZDX recalls over loss of braking power.

Thanks for reading everyone.

— CDG