WASHINGTON, D.C., and TORRANCE, Calif.  — The turmoil surrounding accelerators in recalled Toyota vehicles took another dramatic turn on Monday. U.S. Transportation Secretary Ray LaHood made known plans to level a steep fine against the automaker. LaHood indicated that the National Highway Traffic Safety Administration is seeking the maximum civil penalty of $16.375 million against […] [Read More]

WASHINGTON, D.C., and BANDON, Ore. — Although used-vehicle prices maintained their hike during March and high values seem likely to stick around, a few factors on the new-car side could change things, according to NADA Used Car Guide. "Used-vehicle prices continued to follow an upward trend during March. Most indicators suggest the used market will continue […] [Read More]

GAINESVILLE, Ga. — Though the atmosphere in the auction lanes was "not as aggressive" as it had been previously, the used-vehicle market continued to show strength this past week, and the vehicle types showing the most consistent upward price movement were domestic car segments, according to Black Book's Ricky Beggs. Specifically, Beggs — managing editor at Black Book — […] [Read More]

CHICAGO — In mid-May, the Windy City will play host to a slew of auto industry presentations, workshops and insight, as the Automotive Economic Forecast and Financial Forum along with the National Vehicle Leasing Association's Annual Conference — two separate events — will be held back-to-back in Chicago. The Automotive Economic Forecast and Financial Forum will take place […] [Read More]

SARASOTA, Fla. — Auto Dealer Monthly recently named the winners of its 2010 Dealers' Choice Awards, a program that honors the auto industry's top product and service providers, as well as finance organizations. To determine the winners, dealers and their personnel rate companies in various categories based on quality, customer service/support and value of the product […] [Read More]

MIDDLEBURG, Va. — Autoniq, a mobile device information provider for dealers, recently revealed that now available through its subscription program are Kelley Blue Book Values. This information now can be accessed through Autoniq's program that runs on the iPhone 3GS and Android. Company executives also highlighted how the availability of KBB information augments its VIN scanner […] [Read More]

FOUNTAIN VALLEY, Calif. — Hyundai Motor America used the ongoing New York International Auto Show as backdrop to begin the 2010 Hyundai Hope on Wheels. It's the automaker's philanthropic endeavor aimed at raising money for pediatric cancer research. Hyundai chief executive officer John Krafcik announced that this year's tour will incorporate dealers as well on its […] [Read More]

SAN ANTONIO — USAA has expanded the number of military personnel who are now are eligible to check out its online vehicle-buying services Now, all veterans of the U.S. Armed Forces who served honorably can test drive the online buying portal to see how much they can save on vehicle purchases by joining USAA. Previously, only established USAA members could access […] [Read More]

ALEXANDRIA, Va. — The American Bankruptcy Institute found that March consumer bankruptcy filings totaled the highest amount since Congress overhauled the Bankruptcy Code in 2005. ABI reported that there were 149,268 consumer bankruptcies filed in March. That figure represented a 34-percent increase from the February filing total of 111,693. It also was a 23-percent increase from […] [Read More]

SCHAUMBURG, Ill. — Experian Automotive recently found that subprime loans on used vehicles are starting to rebound and gain ground. Experian indicated that there was a "slight loosening" of credit for used-vehicle financing in the fourth quarter compared to the third quarter. In fact, the subprime credit category, which includes non-prime, subprime and deep-subprime, came in […] [Read More]