Ridecell Unveils Key Industry Trends: Digital Transformation and Flexibility Drive the Future of Automotive Lending
Ridecell announced the results of a survey that gathered insights from senior leaders across banks and captive finance companies, to identify the transformative trends shaping the automotive financial services industry in response to evolving consumer expectations and technological advancements.
The survey found that 47.8% of respondents identified the increasing demand for digital services as the most significant market shift.
“Digital transformation is now a critical driver of success,” said Mark Thomas, EVP Alliances & Marketing at Ridecell. “This survey confirms what we see across the industry and in our discussions with captive finance and asset finance companies: technology adoption is essential.”
Trump’s Tariffs Could Cost US Auto Industry $33 Billion
President Donald Trump’s tariffs against Canada, Mexico, and China, could cost the American car industry upwards of $33 billion, analysts predict. Lower-income consumers are expected to feel the brunt of these tariffs and a trade war has the potential to jack up prices and increase the cost of living.
The impact of these tariffs on the auto industry will be significant. Approximately 27% of all imports from Mexico between January and November 2024 were cars and car parts, while 12% of Canadian imports were cars and parts. No less than 22% of all new vehicles sold in the US last year were produced in Mexico or Canada.
Used Wholesale Market Takes Familiar, Comfortable Road into 2025
By Bill Bishop, SVP of Sales and Marketing, FLD Remarketing
When I say that the white metal market found “familiar” patterns in 2024, that was a good thing. And something I frankly think we’ll see more of in 2025.
As we pointed out in our 2024 year-end review, many of the talking heads that cover asset remarketing believe 2025 could be the breakout year we’ve all been waiting for since the pandemic cut short what was at the time a stable - and for the most part profitable - market.
Fleets have normalized in size, have the assets they need, and vehicle availability has improved, so I’m not expecting any huge expansion in 2025.
Going to NTEA Work Truck Week? Join Us There for a WIFM Session
Join WIFM for a session located at Work Truck Week in Indianapolis! RSVP to ensure you're able to access the session. Please note the RSVP list will be shared with NTEA.
When: Wednesday, March 5, 2025 2:00 PM
Where: Indianapolis Convention Center | Room 208
Contact: AFLA Office
[email protected]
414-386-0366
To Register/RSVP, Click Here
Annual 2024 Data Review Reveals 3-Year Record in New Commercial Vehicle Sales
Work Truck Solutions®, a leading authority on commercial vehicles, has released its 2024 Annual Commercial Vehicle Market Analysis.
In a year shadowed by regulatory uncertainty, the commercial vehicle industry has defied expectations. This year’s analysis offers a detailed account of a year that saw unparalleled new commercial vehicle sales in a market that remains dynamic and resilient amid challenges.
