Call for improved standards after auto dealer software company data breach

Poor data security practices at a software company that supplies services to auto dealers led to a breach that risked exposing the personal information of around 12 million consumers, according to allegations from the US Federal Trade Commission (FTC). The regulator alleged that LightYear Dealer Technologies, trading under the name DealerBuilt, failed to implement readily available and low-cost measures to protect the personal information it obtained from its auto dealer clients. As a consequence, the FTC alleged, there was a breach of DealerBuilt’s backup database beginning in late October 2016 over a 10-day period, when a hacker gained access to the unencrypted personal information of about 12.5 million consumers stored by 130 DealerBuilt customers.

Call for improved standards after auto dealer software company data breach

Jul 16, 2019

Poor data security practices at a software company that supplies services to auto dealers led to a breach that risked exposing the personal information of around 12 million consumers, according to allegations from the US Federal Trade Commission (FTC). The regulator alleged that LightYear Dealer Technologies, trading under the name DealerBuilt, failed to implement readily available and low-cost measures to protect the personal information it obtained from its auto dealer clients. As a consequence, the FTC alleged, there was a breach of DealerBuilt’s backup database beginning in late October 2016 over a 10-day period, when a hacker gained access to the unencrypted personal information of about 12.5 million consumers stored by 130 DealerBuilt customers.

Ford and VW expand global alliance with autonomous and electric vehicle partnerships

Ford Motor Company and Volkswagen have announced they are expanding their global alliance to include electric vehicles and self-driving technology. They will collaborate with autonomous vehicle platform company Argo AI to introduce self-driving technology in the US and Europe in a deal valuing the start-up at $7 billion. Argo AI’s focus is on delivering a self-driving system to be applied for ride sharing and goods delivery services in urban areas.

Ford and VW expand global alliance with autonomous and electric vehicle partnerships

Jul 16, 2019

Ford Motor Company and Volkswagen have announced they are expanding their global alliance to include electric vehicles and self-driving technology. They will collaborate with autonomous vehicle platform company Argo AI to introduce self-driving technology in the US and Europe in a deal valuing the start-up at $7 billion. Argo AI’s focus is on delivering a self-driving system to be applied for ride sharing and goods delivery services in urban areas.

US auto dealers less confident about sales

US auto dealers continue to feel less optimistic about the outlook for sales, despite stronger customer traffic, while used car inventory levels are coming under pressure, Cox Automotive research has found. According to data from the Q2 2019 Cox Automotive Dealer Sentiment Index (CADSI), auto dealer sentiment is similar to the first quarter as the overall current market index remained in negative territory, with more dealers feeling the market is weak compared to those who maintain it is strong.

US auto dealers less confident about sales

Jul 16, 2019

US auto dealers continue to feel less optimistic about the outlook for sales, despite stronger customer traffic, while used car inventory levels are coming under pressure, Cox Automotive research has found. According to data from the Q2 2019 Cox Automotive Dealer Sentiment Index (CADSI), auto dealer sentiment is similar to the first quarter as the overall current market index remained in negative territory, with more dealers feeling the market is weak compared to those who maintain it is strong.

EMEA

Northridge Finance to provide motor finance for SsangYong in UK

Jul 12, 2019

Northridge Finance has agreed its first OEM partnership to provide motor finance throughout SsangYong’s UK dealer network. The finance company says the partnership, which will trade as SsangYong Financial Services, is a “key milestone” for its UK growth plans. James McGee (pictured right), managing director at Northridge, said: “We see the SsangYong brand gaining increased traction over the coming years and we will play a major part in making sure that this happens.”

Americas

FCA launches new in-vehicle commerce platform through over-the-air update for its connected cars

Jul 11, 2019

Global vehicle manufacturer Fiat Chrysler Automobiles (FCA) has launched a new in-vehicle commerce platform through which customers can order and pay for fuel or food and book reservations. Through Uconnect Market, drivers can also find the closest stores, including petrol stations, and obtain money-saving incentives to shop at certain outlets. Drivers can also locate and pay for nearby parking and schedule service appointments at FCA dealerships.

Asia Pacific

Hyundai and Kia invest $300m in India’s largest mobility service provider Ola

Mar 19, 2019

Hyundai Motor Group has announced a $300 million investment into Uber-rival Ola, as the car manufacturer expands into providing mobility solutions and related fleet services. The agreement will see Hyundai, Kia and Ola collaborate on developing fleet and mobility solutions by building India-specific electric vehicles and support services, as well as helping Ola attract new drivers to the platform. As part of the strategic collaboration, the companies will jointly develop services to operate and manage the Ola fleet, as Hyundai Motor Group expands its operations from automobile manufacturing and sales to mobility services and total fleet solutions.