Fitch Ratings doesn’t expect Volkswagen to pay the highest possible fine — $18 billion — stemming from the U.S. Environmental Protection Agency and the California Air Resources Board revealing findings that allege five of the OEM’s diesel-powered vehicles include “defeat device” software that circumvents emissions standards for certain air pollutants. However, the automaker is already […] [Read More]

CarMax already has high-profile partnerships with a pair of professional football teams — the New England Patriots and the Denver Broncos. On Monday, CarMax ventured in the college gridiron ranks with a new partnership with the Minnesota Golden Gophers. As part of the multi-year sponsorship agreement through Learfield Sports' Gopher Sports Properties, CarMax is now […] [Read More]

Along with announcing a case study on the benefits of OVE.com, Manheim also reported a collection of enhancements to the product, which aim to “refine” customers’ performance and digital experience. First up, the company revealed seller ratings on the site now aggregate data from a trio of sources, a move Manheim explained will “give buyers […] [Read More]

After Edmunds.com released an analysis last week that showed minivans increasing popularity among millennials, Cars.com teamed up with PBS’s “MotorWeek” to take a look at the hottest models in this segment. In what the site coined as the “Ultimate Minivan Challenge,” editors took a look at five of the most popular current models — with […] [Read More]

A West Virginia franchised dealer group again found itself involved in a regulatory matter with the Federal Trade Commission. Ramey Motors recently agreed to pay an $80,000 civil penalty to settle a lawsuit the FTC brought last year. The FTC recapped that it charged Ramey Motors with violating the terms of a 2012 consent order […] [Read More]

Consumer Portfolio Services recently closed its third term securitization of the year. The company pointed out the transaction is CPS’ 18th senior subordinate securitization since the beginning of 2011 and the first securitization to receive a triple-A rating on the senior class of notes from two rating agencies. In the transaction, qualified institutional buyers purchased […] [Read More]

GWC Warranty bolstered its offerings of vehicle service contracts and related finance and insurance products by recently introducing a new 5-year, 100,000-mile used model coverage term length and a Service Lane product. Based on input from dealers across the country, GWC Warranty highlighted the new 5-year, 100,000-mile coverage term is available on select used vehicle […] [Read More]

Greg Levi is returning to Columbus Fair Auto Auction as a member of its leadership team. It was announced today that Levi has been chosen as the auction’s new chief operating officer. CFAA management explained Levi will be directing the business’s growth of its 11-lane Wednesday sales, and will be in charge of managing the […] [Read More]

A new era for how the wholesale industry will gather annually for its largest event is just a year away from dawning. The National Auto Auction Association is gathering for its annual convention this week in Orlando, Fla. But next year, the event will be a part of the National Remarketing Conference during Used Car Week […] [Read More]

If you look at the cars sold via Auction Edge, more than 93 include a photograph. Meanwhile, roughly 63 percent include a condition report. That gap shown in these statistics — provided during an Auction Edge presentation at the Digital Managers Session of the Auction Academy near Chicago this summer — doesn’t necessarily mean, however, […] [Read More]