News

NTEA (The Work Truck Association) and the Specialty Equipment Market Association (SEMA) filed suit in U.S. District Court against the California Air Resources Board, seeking immediate declaratory and injunctive relief to stop electric vehicle mandates that the board intends to implement through its Advanced Clean Fleets regulations.

“Borrowing to buy a vehicle is one of the largest sources of household debt for American families, and many deal with unnecessary costs and challenges paying for their car,” said CFPB Director Rohit Chopra. “The CFPB will take action against auto-finance companies that charge fees for nonexistent services, or repossess cars after borrowers make payments.”

The latest Cox Automotive Auto Market Report shows a notable decline in consumer spending volatility and stable unemployment levels, along with mixed consumer sentiment that rebounded slightly in August but later fell, according to Chief Economist Jonathan Smoke.

Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) declined 0.2% from August in the first 15 days of September.

The Federal Reserve announced a 0.5% cut, its first rate reduction since 2020. In a release, the Fed stated “Recent indicators suggest that economic activity has continued to expand at a solid pace.

FTC and Arizona AG charged dealership and key employee with using bogus online pricing to entice consumers, tacking on thousands in junk fees, and charging Latino consumers extra

The Conference Board Consumer Confidence Index rose in July to 100.3 (1985=100), from a downwardly revised 97.8 in June. The Present Situation Index—based on consumers’ assessment of current business and labor market conditions—declined to 133.6 from 135.3 last month.

NRRM, LLC will pay $10 million to settle FTC charges that its advertisements and telemarketing for VSC are deceptive and misleading, and that many purchasers found that many repairs were not “covered,” despite making payments of up to $120 per month. 

To navigate the intersection of electric vehicles and the electric grid, the U.S. auto industry and the country’s electric utilities must ‘work together,’ according to a new analysis from Alliance for Automotive Innovation.

After a settlement with Indiana Attorney General Todd Rokita, a subprime auto business will be forced to pay back almost half a million dollars to consumers.

The Internal Revenue Service issued a press release reminding car dealers and sellers to be aware of evolving phishing and smishing scams that could impact day-to-day operations of the business.

Anderson Economic Group has analyzed direct losses to automotive dealers affected by the hacking and ransomware attack on CDK Global software and systems, and the resulting shutdown or impairment of operations, inability to operate systems, inability to generate orders, complete purchases or sales, and other interruptions of their normal course of business.

Over the last several months, the NAAA Auction Standards Committee has worked hard to develop and implement Arbitration Policy and Certification Guidelines updates to add clarity, improve transparency, and better reflect the evolving nature of the industry.

NADA explained that what triggered the cheers was the passage of the fiscal year 2025 Financial Services and General Government (FSGG) appropriations bill by the House FSGG Appropriations Subcommittee.

The California Senate passed State Sen. Scott Wiener’s (D-San Francisco) Senate Bill 961. The bill will help reduce traffic deaths by requiring speed warnings in all new cars manufactured or sold in California beginning in 2032