• Car Dealership Guy News
  • Posts
  • Tesla delays robotaxi, used EV market shows positive signs, negative vehicle equity looms

Tesla delays robotaxi, used EV market shows positive signs, negative vehicle equity looms

Hey everyone. Fitch Ratings reports a rise in subprime auto loan delinquencies in June. Their delinquency index jumped 40 basis points to 5.62% in June, an 8% increase month-over-month.

Subprime customers already bear some of the highest borrowing costs and monthly payments. Combine that with tighter economic conditions and a very troubling situation lingers on…

— CDG

1. Tesla robotaxi: Why a small delay is having big consequences

Tesla will delay the debut of its self-driving robotaxi by about two months according to an internal report obtained by Bloomberg.

Why this matters: While a delay is unsurprising, especially considering that the robotaxi project was revealed earlier than the company intended, it still places additional doubt on the brand’s ability to carry out its vision during a critical time for its reputation … Read more

Become an automotive insider in just 5 minutes.

Get the weekly email that delivers transparent insights into the car market.

Join 70,000 others now, it's free:

2. Stabilizing prices and tax credits fuel used EV affordability

New research suggests that used EV prices started leveling off in the first half of 2024 and will become even more predictable in the third quarter. 

By the numbers: According to the latest insights from Recurrent, the most stable price range for used EVs is $20K - $25K due to support from the $4,000 government-subsidized used EV tax credit … Read more

Billions of dollars in the auto industry vanish each year thanks to a booming crime:

Synthetic identity fraud.

According to the Federal Reserve, it’s the fastest-growing financial crime in the U.S. Here’s how it works: fraudsters cook up fake identities, build credit profiles using real and fake information, and then finance a vehicle with zero plans to pay. A few months of payments keep them under the radar, but soon, they're gone with the vehicle, leaving dealers and lenders holding the bag.

Don't be fooled by outdated fraud protection. The crooks are getting smarter, their schemes more high-tech. Experian Automotive can help you outsmart them, predict and prevent fraud before it strikes, and save your bottom line.

3. Negative vehicle equity on the rise: debt hits new record

Nearly 25% of new car buyers who traded in their old vehicle had negative equity in Q2 — the highest percentage in 3 years, according to Edmunds.

The intrigue: While the number of borrowers facing negative equity isn’t setting records, the amount of debt being carried by these buyers is greater than ever before … Read more

Have a tip for our editorial team? Send us your scoop at [email protected].

  • The Volkswagen ID.Golf is postponed to 2029 as more delays mount.

  • Tesla launches a new Model 3 long-range variant at $42,490.

  • An Oklahoma dealership has been accused of animal abuse after hosting a pair of elephants for a circus-themed community event.

  • Toyota invests in EV charging network IONNA.

  • Dealership insurance claims follow CDK cyberattack recovery.

Thanks for reading everyone.

— CDG

Reply

or to participate.