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. +
U.S. auto dealers sold 697 franchises in an all-time record of 438 transactions last year, according to Kerrigan Advisors’ year-end Blue Sky Report, a 10% increase from 2023. +
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. +
J.D. Power’s latest survey of dealership service customers ranks Porsche and Subaru first among premium and mass market brands but finds 12% of all repairs fell short on the first attempt. +
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. +
Registrations of new Teslas fell 11% year-over-year in January and lost 12 percentage points in U.S. market share. But the EV maker's stock value improved by 7.6%, partially offsetting a steep decline. +
