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Today’s Top Stories
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1️⃣ As pedestrian deaths continue to rise, the National Highway Traffic Safety Administration (NHTSA) has proposed some new regulations to protect citizens on foot.
Pedestrian Fatalities — In 2022, pedestrian deaths climbed to 7,522, a 0.7% increase and the highest since 1981. Cyclist deaths also spiked by 13%, reaching levels unseen since 1980.
New Safety Requirements — Automakers (particularly of pickup trucks and SUVs) would need to pass a new test simulating a head-to-hood impact which accounts for 70% of pedestrian injuries.
2️⃣ The NHTSA is also investigating over 781,000 Jeeps after multiple reports of under-hood fires.
Affected Models — The investigation includes all 2021-2023 Jeep Wranglers and Gladiators following nine fire reports—some even happening while the vehicle was parked.
Rapid Fire — Multiple reports described fires escalating within minutes, with one owner in Arizona losing their vehicle to flames just moments after seeing black smoke. Many owners also shared accounts of their vehicles catching fire very shortly after purchase.
3️⃣ Carvana has announced its second auction and reconditioning “Megasite” in Houston, combining its Inspection and Reconditioning Center capabilities with the existing ADESA auction site to streamline operations and enhance customer experiences.
Boosting Capacity and Efficiency — The integration at ADESA Houston will add IRC capabilities to increase reconditioning capacity, speeding up vehicle delivery for retail customers and expanding auction offerings for commercial clients.
Local Impact — Covering 43 acres with over 5,000 parking spaces and creating more than 200 new jobs, ADESA Houston's site will maintain its auction operations while integrating Carvana’s proprietary software.
4️⃣ The dealership buy/sell market shattered records in the first half of 2024. With well-capitalized buyers and high blue sky values, this boom shows no signs of slowing down.
Record-Breaking Transactions — The first half of 2024 saw 204 dealership transactions, nearly double pre-pandemic levels, representing 381 franchises—a new industry milestone.
Blue Sky Values Skyrocket — Franchise values remain 74% higher than pre-pandemic levels, despite a 17% dip from their peak in 2023, with dealership earnings stabilizing post-pandemic.
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