SVR Tracking

The Georgia DOT and Cambridge Mobile Telematics have launched the Reach Home Safely app, a new initiative to improve road safety and reduce crashes. The app includes a contest where drivers can compete for the title of safest driver. In partnership with the Atlanta Braves, the program aims to tackle the urgent issue of distracted driving. Similar programs have led to significant reductions in risky driving behaviors, potentially saving lives and preventing crashes in Georgia. Learn more here: https://rb.gy/wisas6 #RoadSafety #SafeDriving #DistractedDriving #GeorgiaDOT #CambridgeMobileTelematics 

Rollick’s 2023 "Future of Buying" study reveals key consumer trends in the outdoor recreation market. It highlights a shift toward younger, wealthier demographics, especially in powersports and marine sectors, and underscores the importance of transparent communication and personalized experiences. With extended purchase cycles and a blend of online and in-dealership interactions, success hinges on adapting to these evolving consumer behaviors. Discover more here: https://shorturl.at/pkVln #OutdoorRecreation #ConsumerTrends #Powersports #RV #MarineIndustry #DigitalTransformation 

The automotive industry faces several legal challenges this year. Key issues include the FTC's surprising CARS Rule targeting dealer practices, the growing trend of online vehicle sales, and the complex landscape of direct-to-consumer sales driven by EV manufacturers like Tesla. Autonomous vehicles continue to push the boundaries of regulation, while the future of EV sales is shaped by range anxiety and regulatory pressure. Despite declining pandemic-era profits, dealership valuations remain strong, driven by steady profitability and market dynamics. #AutomotiveIndustry #LegalUpdate #OnlineSales #EVs #AutonomousVehicle 

Telematics is transforming insurance by integrating vehicle tech and data analytics to refine risk assessment and personalize policy pricing. Here’s how it’s impacting the industry: 🔹 Benefits for Drivers: -Usage-Based: Rewards safe driving habits with lower premiums.  -Pay-Per-Mile: Saves money for low-mileage drivers. 🔹 Insurer Advantages: -Profit & Efficiency: Better risk assessment and tailored pricing improve profitability.  -Customer Engagement: Dynamic discount models boost loyalty.  -Product Innovation: New policies for different driver profiles.  -Fraud Detection: Analyzes patterns to catch fraudulent claims.  -Risk Management: Identifies and mitigates high-risk behavior. 🔹 Challenges: -Privacy Concerns: Sensitive data risks and regulatory hurdles.  -Data Accuracy: Issues with faulty data affecting premiums.  -Cost: Initial investments and ongoing expenses may offset discounts. Telematics is set to evolve, with future integrations enhancing safety and customization. Collaboration among stakeholders is crucial to ensure data security and maximize benefits. #Telematics #InsuranceTech #DataAnalytics #DriverSafety #InsuranceInnovation 

The automotive industry faced chaos from 2020-2023, with rising costs, inventory shortages, and inflation. As 2024 ushers in a "return to normalcy," independent Buy Here Pay Here (BHPH) dealers must evolve to remain competitive. Embracing data and analytics, prioritizing compliance, and enhancing customer experience are key strategies for success. Leveraging tools for informed decision-making and providing personalized service will help BHPH dealers navigate the future. Learn more here: https://shorturl.at/3RZq7 #AutomotiveIndustry #BHPH #AutoFinance #DataAnalytics #CustomerExperience 

Despite ongoing market uncertainties and vehicle shortages, 2024 brings optimism for auto dealers in used car sales. Dealers are focusing on building strong dealership brands, optimizing vehicle pricing and inventory management, and innovating consumer trade-ins. With elevated prices and interest rates, the emphasis is on adding value to each vehicle and adopting data-driven strategies. New tools, like AI-powered self-inspection, are helping dealers source inventory directly from consumers, creating transparency and driving profitability. Read more here: https://shorturl.at/I2R7R #AutoIndustry #UsedCars #Dealerships #VehiclePricing #InventoryManagement 

Despite the summer heat, auto financing and interest rates are experiencing a freeze, according to the June SCE Credit Access Survey by the Federal Reserve Bank of New York. Key Findings: -Rising Rejection Rates: Overall credit rejection rates increased to 21.4% in June, with auto finance rejections spiking to 18.5%, up from 1.5% in February.  -Decreased Credit Applications: Application rates for all types of credit dropped to 41.2% in June from 43.4% in February.  -Future Credit Expectations: Only 22.2% of respondents are likely to apply for credit in the next 12 months, down from 22.9% in February. Economists predict that the Federal Reserve will likely hold interest rates steady in their July meeting, with potential rate cuts expected in September. Learn more here: https://rb.gy/kkj7j9 #AutoFinancing #InterestRates #CreditAccess #FinancialTrends #NewYorkFed #EconomicOutlook 

Running an automotive dealership comes with logistics challenges that can lead to lost profits and dissatisfied customers. Dealer transport services offer a reliable, cost-effective solution to manage inventory and ensure timely deliveries. Learn about car dealership transport services, who benefits, different methods, and the pros and cons in our comprehensive guide. Keep your inventory moving smoothly and your customers happy! Read more here: https://rb.gy/7vocfa #AutoDealership #Logistics #TransportSolutions #CustomerSatisfaction #InventoryManagement 

Jody Lambert, VP of Dealer Risk Management at Anderson Brothers Bank, shared his views on down payments during the Non-Prime Auto Financing Conference. He noted that large down payments often lead lenders to feel more secure and may result in rate or term exceptions. 📊 Key Trends: -Used Vehicles: Average down payment in Q2: $4,140, slightly up from Q1.  -New Vehicles: Average down payment in Q2: $6,579, slightly down year-over-year.  -July Projections: New-vehicle prices and incentives rising, with transaction prices expected to be $44,271.  -Financing: Average monthly payment for new vehicles: $727; for used vehicles: $552. Lambert speculated that higher down payments may be driven by older generations withdrawing from retirement funds. He also expressed concern about new lenders entering the market if interest rates drop, potentially leading to a refinancing boom. Read more here: https://rb.gy/g20gfs #AutoFinancing #DownPayments #UsedCars #NewCars #MarketTrends #VehicleFinancing 

When Greg Cook’s 12-year-old car broke down in May 2022, he faced a difficult decision. Relocating to a more affordable town in Oregon after losing his job due to the pandemic, he needed a car for job applications but worried about the costs. Despite the challenges, Cook bought a new car, which now consumes 30% of his budget. Like many Americans, he struggles with rising costs amid a slowing economy.  Delinquencies, defaults, and repossessions have surged, with auto loan rejections hitting record highs. “I don’t want to diminish the fact that repossessions are higher and default rates are higher and delinquencies on automotive loan payments are also higher,” said industry expert Jeremy Robb. Discover more here: https://rb.gy/x1hwji #AutoLoans #CarRepossessions #FinancialStrain #Inflation #InterestRates #EconomicChallenges