The Q4 2024 Cox Automotive Dealer Sentiment Index (CADSI) released today shows growing optimism among U.S. auto dealers. However, despite current weak market conditions, the post-election survey indicates increasing dealer confidence. The final Auto Market Report video of the year, noted that after a very strong November, December appears to be off to a strong start.
“We saw a surge in the outlook, technically the largest surge we have had quarterly in the history of the data,” said Cox Automotive Chief Economist Jonathan Smoke. “It is the best fourth quarter since 2021, which was the most profitable quarter in dealer history.” Continue reading
Florida Man Pleads Guilty to Odometer Tampering
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Drew Mitchell Schreiber, of Orlando, Florida, pleaded guilty yesterday in the U.S. District Court for the Middle District of Florida to three counts of odometer tampering, The U.S. Justice Department said today. In all, Schreiber sold 140 rolled-back vehicles. Because many of these vehicles were more than 10 years old, Schreiber obtained so-called “exempt” titles that did not reveal the actual mileage of the vehicles.
“Just because a motor vehicle may be exempt from mileage recording on a title does not give a dealer the right to roll back odometers,” said Principal Deputy Assistant Attorney General Brian M. Boynton of the Justice Department’s Civil Division. “With vehicles remaining in use for longer periods of time, many Americans rely on older vehicles as their primary mode of transportation. Used car buyers deserve peace of mind knowing that the odometer reading in their vehicle is correct.” Continue reading →