Less than a week after the U.S. Environmental Protection Agency issued a Notice of Violation of the Clean Air Act to Volkswagen, alleging five of the automaker’s diesel-powered vehicles include “defeat device” software that circumvent emissions standards, Environment Canada joined the field. Environment Canada announced on Tuesday it is opening an investigation into VW’s alleged […] [Read More]

On the heels of Auction Edge making a major acquisition announcement, KAR Auction Services indicated on Thursday that subsidiary Openlane agreed to build a private label website for Auction Edge, utilizing Openlane’s proprietary technology platform. The companies highlighted the private label website created for Auction Edge will be known as the EDGE Marketplace, which has […] [Read More]

A few handfuls of auctions were honored Wednesday at the NAAA Convention, as NextGear Capital, Enterprise Holdings and Chase Auto Finance revealed annual award winners. Plus, several more awards were announced at the NAAA's Opening Luncheon. Winning NextGear’s third annual Auction Partner Awards, which recognize independent auctions, were: Operational Excellence Award: Acadia Auto Auction in Richmond, Maine […] [Read More]

CarStory announced on Tuesday that Dealer Car Search has made the Inline CarStory Market Reports available to its dealer-customer subscribers. According to CarStory, the reports embed important vehicle research directly into a vehicle’s detail page, aiming to keep customers engaged on a dealership’s website. The information in CarStory’s market reports include insights generated from real-time […] [Read More]

When Cox Automotive first announced it was going to acquire Dealertrack Technologies, officials believed the deal would be finalized during the third quarter. The companies will just make that timeframe if the deadline for the fourth extension of the tender offer is met. The companies said on Wednesday that the offer previously set to expire […] [Read More]

Martin Winterkorn stepped down from the position of chief executive officer at the Volkswagen Auto Group on Wednesday, stating in an official announcement that he is “shocked by the events of the past few days” and that he is “stunned that misconduct on such a scale was possible in the Volkswagen Group.” Saying that VW […] [Read More]

Despite a $5.2 million dip in revenue during the fourth quarter of its 2015 fiscal year, Copart still managed to post increases in both gross margin and net income to close out a year with its fully diluted earnings per share nearly 23 percent higher. For the quarter that ended July 31, Copart reported this […] [Read More]

Along with naming a top executive for EDGE Marketplace, Auction Edge announced on Wednesday that it entered into an agreement to purchase Auto Auction Solutions of Pensacola, Fla., in a deal that is expected to close Oct. 30. Company officials highlighted Auto Auction Solutions will operate as a division of Auction Edge called EDGE AAS with […] [Read More]

Asbury Automotive Group announced this week it is expanding its Nalley brand with a new Nissan and an Infiniti store in Atlanta. The company recently held a groundbreaking ceremony, which included attendees such as Craig Monaghan, president and chief executive officer, and David Hult, chief operating officer of Asbury Automotive; Leon Dorssers, vice president of […] [Read More]

More subprime paper in the entire credit mix produced small increases in numerous default rates, but not to a point that triggered warning from S&P Dow Jones Indices and Experian. Data through August showed the auto segment of the S&P/Experian Consumer Credit Default Indices ticked up 4 basis points on a sequential basis to land […] [Read More]