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What will transform the global auto industry

Auto Service World

The global automotive industry is undergoing a significant transformation, with 2025 poised to bring new developments influenced by key events in 2024. By 2030, the industry will witness an influx of brands leveraging expertise from the electronics and software sectors, driving the development of connected and autonomous vehicles.

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Cyberattacks cost auto industry $22.5B in 2024, vulnerabilities reach record high

Auto Remarketing

billion in 2024. VicOne recorded 215 automotive cybersecurity incidents in 2024, with cloud and back-end systems as the most frequent targets through ransomware attacks, data breaches and social engineering or phishing attacks, as well as a record-high 530 vulnerabilities in the industry, up 24% from the previous year.

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Best March for new car sales since 2018

Auto Service World

Despite the on-again-off-again-on-again tariff announcements and poor weather across much of the country, Canadians turned out to their dealerships to buy new vehicles at the highest rate in many years. per cent from March 2024 and the best March total since 2018. And most sales were in the light truck segment. 1 to April 1.

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From the Magazine: Collision repair at a crossroads

Auto Service World

Now, 2024 was an unusual year with one of the mildest winters recorded in recent history. Electrification of the vehicle fleet The rapid adoption of electric vehicles is also shifting the repair landscape. Industry revenue was down or flat last year across competitors both OEMs and aftermarket across both the U.S.

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The challenges facing the DIFM market

Auto Service World

Preliminary findings indicate this trend has continued into 2024. The growing productivity of service bays is a testament to investments in technician training, tools and equipment, software and other resources. Product and service sales per bay have dramatically outpaced the recovery-growth rate of the overall DIFM market.

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Study finds 3-year vehicle dependability drops as COVID effects linger

Auto Remarketing

Vehicle Dependability Study found vehicle problems after three years of ownership have reached their highest level since 2009, with the industry average of 202 problems per 100 vehicles representing a huge 6% jump from 2024s 190 PP100. PP100 last year to 8.4 a 33% increase.

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2024 Auto Retailer F&I Year in Review — What We Learned

AutoSuccess

As we reflect on the 2024 automotive landscape, its clear that dealerships faced a year of significant challenges and transformations, particularly in finance and insurance (F&I). Affordability Defined 2024 The affordability issue that defined much of 2024 was a multifaceted challenge for dealers.