As nearby General Motors continues to be impacted by recalls, its two chief rivals in the Motor City revealed substantial recalls of their own Friday. Starting with Chrysler Group, its two actions impact around 784,000 units, the overwhelming majority of which are in a recall connected to power window-vent switch modules. In that particular action, […] [Read More]

Kelley Blue Book is making a change. Not so much in the sense of how it operates or what it offers, but a change in focus. Having already made great strides on the consumer side, KBB’s leadership said the company has decided to put more focus on its data syndication efforts within the industry side […] [Read More]

Following loss and severe damages from recent tornadoes, the employees of one ADESA auction took it upon themselves to help their neighbors. Raising nearly $60,000 with an auction to benefit area tornado relief efforts was ADESA Little Rock. Sale proceeds were donated to the American Red Cross of Greater Arkansas. “Almost everyone knows someone who […] [Read More]

Wholesale prices remained strong in April — taking a bit longer to turn down from tax-season highs than in previous years — but price relief for dealers and buyers in the lanes is in sight. According to NADA’s latest Guidelines report, seasonality and a spike in used supply will serve to push wholesale prices down […] [Read More]

The Environmental Protection Agency recently announced that diesel vehicles are making a bit of a comeback in the U.S., as fuel efficiency becomes more of a concern. Auto Remarketing reported on NADA Used Car Guide’s analysis of the diesel market here last week. NADA determined through comparing two different 3-year-old vehicles and their respective diesel […] [Read More]

Following public comment periods, the Federal Trade Commission approved final consent orders this week involving 10 dealers’ deceptive advertising charges. Under the settlement orders, FTC officials said the dealerships are prohibited from misrepresenting in any advertisement for the purchase, financing or leasing of vehicles the cost of leasing a vehicle, the cost of purchasing a […] [Read More]

Demands by the Securities and Exchange Commission are placing a hurdle in Nicholas Financial — an indirect special finance company that originates subprime loans with more than 1,600 dealers — becoming an indirect wholly owned subsidiary of Prospect Capital Corp. According to Prospect Capital’s latest quarterly filing with the SEC, agency officials asserted that certain […] [Read More]

Rep. Lynn Westmoreland introduced a bill on the U.S. House floor this week aimed at regulating how the Consumer Financial Protection Bureau handles consumer data. The Georgia Republican explained the CFPB Data Collection Security Act is meant to address what he believes are important security flaws. The measure would institute five new elements, including: —Create […] [Read More]

Remember 2005? That’s when the BlackBerry was the smartphone of choice, and the Federal Reserve pushed the short-term interest rate to 3 percent, marking the eighth increase in less than a year. That year also was the last time this much paper and metal was on the street. The latest Equifax National Consumer Credit Trends […] [Read More]

Online auto retailer Carvana announced Friday that what it’s calling the first Carvana certified pre-owned Tesla is now available on its website. The vehicle is a 2013 Tesla Model S and can be found at www.carvana.com. (Carvana also clarified that the CPO offering is via Carvana.com, versus coming directly from Tesla) Carvana says the Model […] [Read More]