Dealertrack reports loan approval rates continue to trend upward as of the end of December, capping a year in which the availability of dealer-arranged financing improved by 3.6%. +
Daniel Winchell, the former owner of three Northwest Iowa dealerships, was accused of selling vehicles out of trust and charged with multiple counts of theft and ongoing criminal conduct. +
Lithia Motors will pay restitution to customers of five dealerships plus a $300,000 civil penalty to settle charges related to fees not included in advertised vehicle prices. +
Protective Asset Protection has completed its acquisition of Portfolio, a move executives say will “set the standard” for F&I and reinsurance technology, products and administration. +
Record numbers of new and used vehicle buyers committed to a monthly payment of $1,000 or more in the fourth quarter, but interest rates ticked down for both groups. +
CCC reports the frequency of damage claims resulting in a total loss is poised to beat last year’s record by a full percentage point, putting further pressure on GAP underwriters. +
A USA Today/Detroit Free Press report finds Ford, GM and Stellantis accelerated increases in destination and delivery charges in what experts call a calculated move. +
Carfax reports more than 2.45 million U.S.-registered vehicles have rolled-back odometers, an increase of 14% from 2024, led by California’s 532,200 units. +
Tesla has been ordered to revise marketing language implying its vehicles can operate autonomously or face a 30-day suspension of its California dealer license. +
The Colorado Motor Vehicle Board voted 6-2 to grant a dealer license to Volkswagen subsidiary Scout Motors, allowing Scout to sell directly to EV buyers in that state. +
