Attorney Tom Oscherwitz says generative AI-powered “deepfakes” are giving criminals new ways to defraud dealers and finance sources and spurring the development of new detection tools.+
Auto Dealership Partners has won an $18 million judgment against Ford Motor Co. after accusing the factory of engaging in “deceit and fraud” by blocking the purchase of a Benton, Ark., franchise. +
Dealertrack’s Credit Availability Index improved 3% year-over-year in February, but negative indicators such as subprime share, term, down payments and negative equity added risk to loan portfolios. +
Wisconsin Department of Transportation officials are warning car buyers to be on the lookout for fraudsters posing as dealers by cloning websites and social media profiles and accepting payments via wire transfer. +
Citing low unemployment and “solid” market conditions, the Federal Reserve Board held firm to its 4.25% to 4.5% target lending rate, extending a pause that began in January following a series of quarter-point cuts. +
Former Honor Finance CEO James Collins has been sentenced to four years in federal prison and restitution totaling $67 million after pleading guilty in two bank fraud cases. +
Hyundai Motor America has been ordered to pay a multimillion-dollar award to Universal Hyundai of Orlando, Fla., for breaching Universal’s franchise agreement as well as Florida’s Dealer Act. +
The FTC announced checks totaling more than $934,000 have been sent to 20,361 Vroom customers harmed by violations of rules and regulations intended to protect used car buyers.+
F&I wait times are on the rise, according to CDK’s 2025 Friction Points study, hampering dealers’ ongoing — and largely successful — efforts to reduce total transaction times and generate referrals. +
Kelley Blue Book reports the average cost of a U.S.-sold new vehicle increased by 1% year-over-year to $48,039 in February but declined by 1.3% from the prior month. +
