Late last week, Volkswagen Group of America finalized an agreement to resolve the claims of VW-branded franchised dealers in the United States relating to vehicles involved in “Dieselgate” and other matters asserted concerning the value of their franchise. Under the proposed agreement, Volkswagen has agreed to make a maximum total of $1.208 billion in cash […] [Read More]

Officially opening what company officials called the largest of its kind in Canada, Impact Auto Auctions on Monday welcomed more than 250 auto industry professionals and local dignitaries at the grand opening of its new Edmonton auto salvage auction facility. The new facility for the subsidiary of Insurance Auto Auctions, a business unit of KAR […] [Read More]

The National Independent Automobile Dealers Association highlighted how its members continued to expand their already considerable presence in Washington D.C., coming in record numbers to last week’s National Leadership Conference and Legislative Summit. NIADA reported that more than 175 dealers and industry leaders came from across the country to the nation's capital — the most […] [Read More]

The Costco Auto Program has again partnered with General Motors to bring back the Holiday Sales Event for members. During the holiday promotion last year, officials highlighted nearly 58,000 vehicles were sold — a 34 percent increase above the 2014 total. Officials explained this year’s event features a selection of popular models from Chevrolet, Buick, […] [Read More]

On Monday, ADESA announced changes to its auction management teams at ADESA Orlando, ADESA Sarasota and ADESA Tampa, effective immediately. The business unit of KAR Auction Services said Jeff York, previously general manager of ADESA Sarasota, will lead ADESA Orlando as general manager. The company indicated Curt Farris, previously general manager at ADESA Tampa, will […] [Read More]

The green check mark I received through the online testing platform of the National Automotive Finance Association’s Consumer Credit Compliance Certification Program sure did look pretty this past weekend. Instructors Patty Covington and Eric Johnson closed the Module 1 training session by encouraging students not to become frustrated if they didn’t secure an examination score […] [Read More]

When Equifax looked at its most recent auto finance data, analysts considered the trend that finance companies might be tightening their underwriting a bit. Still based on the August Equifax National Consumer Credit Trends Report, analysts noticed what they called “healthy growth” in originations. Equifax indicated that newly opened auto loans and installment contracts year-to-date […] [Read More]

To meet the growing demand from consignors for more consistency in vehicle valuation processes, Manheim on Monday morning announced plans to expand its AutoGrade condition score licensing program. Initially distributed only to National Auto Auction Association member auctions, the company highlighted the electronic vehicle condition reporting system will now be made available to all non-NAAA auctions […] [Read More]

Including numbers from franchised and independent dealers plus private-party sales, there will likely be somewhere in the neighborhood of 3.2 to 3.3 million used-vehicle sales this month. That’s according to respective forecasts from Edmunds.com and TrueCar. Edmunds is calling for 3.3 million used sales this month, which would translate to a seasonally adjusted annualized rate […] [Read More]

Wyoming might be small in terms of population, but Lithia Motors now has one of the largest franchised dealerships in the state. Lithia recently acquired Greiner Ford Lincoln of Casper, Wyo., in a move to secure a store that will add an additional $75 million in estimated annual revenues, according to the dealer group. “We […] [Read More]