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Fed Cuts Interest Rates Again, Stock Market Responds

Stock are on the rise following the second quarter-point reduction to the federal funds rate in less than two months. No further cuts are planned for this year or next, guaranteeing further pressure from the White House.

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World’s First Carbon-Neutral Dealership Changes Hands

Motorcars Honda of Cleveland Heights has been purchased and renamed by the nine-store Foundation Automotive group. The Ohio store was recognized by BP as the world’s first carbon-neutral auto dealership in 2016.

Generali Targets Specialty Insurance Market With New Division

Generali US Branch’s Specialty Insurance Division will offer insurance and obligor services for warranties and service contracts on a global scale in multiple verticals, including automotive F&I.

Former Porsche Salesman Pleads Guilty to $3M Fraud

Shiraaz Sookralli faces 20 years in prison after admitting to charges of fraud and embezzlement relating to a multimillion-dollar scheme to sell nonexistent Porsches from a South Florida dealership.

EFG Adds Multifaceted Appearance Protection Product

EFG Companies’ Signature Finish Elite Appearance Protection targets traditionally unprotected surfaces, including body panels as well as glass, chrome, and rubber.

Cox: Franchised, Independent Dealers See Two Different Markets

Cox Automotive’s latest Dealer Sentiment Index shows a marked disparity in optimism and fear factors between America’s new- and used-car dealers.

LoJack: GPS Can Be a Dealer’s Best Friend

A new infographic from LoJack illustrates how GPS-powered inventory management maximizes front-end profits, drives customer retention and service revenue, and reduces lost loyalty.

Used-Vehicle Volumes Up 4.1% Among Privately Owned Dealers

Haig Partners’ Q2 report charts an astonishing 60% drop in buy/sell activity among U.S. auto dealerships and finds privately held stores and groups are increasingly focused on pre-owned sales.

Subprime Fell to Lowest Share Since 2011 in April

An Equifax review of auto finance data from the first four months of 2019 found subprime’s percentage of total originations fell to 22.7% for all purchases and 9.2% of new-vehicle leases.

Escalating Finance Costs Drive 24% Spike in TCO

AAA analysts say bigger price tags and higher interest rates have conspired to raise American new-car buyers’ average annual total cost of ownership to $9,282, an all-time high and a 24% year-over-year increase.