Described as a “painful pill to swallow,” Volkswagen is going to have to spend nearly $15 billion to settle with federal regulators and consumers involving vehicles associated with a diesel emissions controversy. In two related settlements — one with the United States and the state of California and one with the Federal Trade Commission — […] [Read More]

KAR Auction Services and Toyota Motor North America have been named to the CIO 100 list for 2016. KAR said in a news release last week about its inclusion that the list spotlights 100 companies that are “driving business value through IT innovation.” The winners will be recognized at the CIO 100 Symposium in August. […] [Read More]

Automotive marketing and advertising company Jumpstart Automotive Group released its latest shopper study on Monday, drilling deeper down into the behavior patterns of women and millennials as well as Asian and Hispanic shoppers. While each of those demographics showed some unique characteristics, Libby Murad-Patel pinpointed what might be most important to dealerships on how to […] [Read More]

General Motors Financial rolled out its North American vehicle lease program during the second half of 2014 and became the exclusive provider for the parent automaker — assuming captive finance company status — early last year. As a result of those moves, GM Financial determined that leases now make up the largest portion of its […] [Read More]

The weather forecast may be favorable, but new historical forecast data from Black Book shows the outlook for small cars — particularly subcompacts — is not so sunny. Vehicles in that segment, including such models as the Toyota Yaris and Prius, Nissan Versa, Kia Soul, Honda Fit, Ford Fiesta and Chevrolet Spark, have depreciated 26.1 […] [Read More]

Former National Auto Auction Association president Gregg Kobel passed away Thursday at age 67, NAAA said in a condolences message Monday. Kobel was the 2007-2008 NAAA president and also served as president and director of the Midwest Auto Auction Association, NAAA said. NAAA also recognized Kobel with its annual Industry Pioneer Award at last year's convention in […] [Read More]

The size of the U.S. subprime population is getting smaller — at least that’s what FICO says. And large finance companies such as General Motors Financial again acknowledged that the segment of its portfolio composed of subprime paper will continue to diminish, too. However, dealerships that participated in KeyBanc Capital Markets’ monthly survey indicated that they’re […] [Read More]

Susan Cafiero, a sales representative for Avalon Honda in Cape May Court House, N.J., received Cox Automotive’s inaugural Breakthrough Leader of the Year Award on Monday. Cafiero accepted the award at a luncheon during the Women in Automotive Conference in Orlando, Fla. She was selected from nominees who met criteria including being a woman with […] [Read More]

Security National Automotive Acceptance Co. (SNAAC) was recently named a top workplace in the Cincinnati area, due to positive feedback from employees. SNAAC announced that it has been selected as one of Greater Cincinnati’s Top Workplaces for the third time in the past four years. The distinction is determined solely by employee feedback surveys complied […] [Read More]

One man’s passion is set to turn into a phenomenal auction opportunity. Joe R. Pyle Complete Auction Co. will auction Pennsylvania car enthusiast John L. Mansell’s unique collection of more than 1928-1982 models — mostly convertibles — over two days in August. Mansell’s longtime love of antique cars blossomed after his purchase in 1960 of […] [Read More]