Thomas Higgins, the incoming director of compliance at the Greater New York Automobile Dealers Association, acknowledges this is a strange time to switch careers. Higgins spent nine years at the New York State Department of Motor Vehicles, most recently as deputy commissioner of compliance. During his tenure, Higgins was in …
Read More »EV residual values concern lenders
There are an estimated 46 new electric vehicles slated for production in the next three model years, according to Cox Automotive. While that number will be celebrated in some corners, it is generating concern among auto lenders that worry about residual values and incurring big losses similar to what happened …
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