News

American Auto Guardian, Inc. Unveils Mobile App

SCHAUMBURG, Ill. — American Auto Guardian, Inc. (“AAGI”) announced its newly developed mobile application to its Agents during the Company’s 2015 Product Launch this month. Storing paper contracts in the glovebox is now a thing of the past! AAGI Mobile is a one of a kind customer-facing mobile application that interacts with all of AAGI’s ... Read More »

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PALS Panel on Self-Governance Draws Interest

VW Spent Two Years Trying to Hide a Security Flaw

LONDON (Bloomberg) – Thousands of cars from a host of manufacturers have spent years at risk of electronic car-hacking, according to expert research that Volkswagen has spent two years trying to suppress in the courts, reports Automotive News. “Keyless” car theft, which sees hackers target vulnerabilities in electronic locks and immobilizers, now accounts for 42 ... Read More »

LotLinx Appoints Cofounder CEO

SAN FRANCISCO — LotLinx announced this week that it has appointed company cofounder Denise Chudy CEO, effective immediately, the company announced. In her new role, Chudy will be responsible for all areas of LotLinx’s business, including strategic direction, development of key partnerships and customer relationships. LotLinx is an online retailing solution connecting online customers with ... Read More »

GM Recalls 2010 Cobalts for Wiring Flaw

General Motors is recalling 73,424 Chevrolet Cobalts for misrouted wiring that can prevent a driver’s side airbag from deploying during a crash, reports Automotive News. The recall covers 2010 Cobalts — 59,474 in the U.S. and 13,950 in Canada. Affected vehicles were built with improper side impact sensor wire routing in the driver’s side front ... Read More »

Experian: Auto Loan Balances Grow at Fastest Rate Since 2006

SCHAUMBURG, Ill. — The total dollar volume for outstanding automotive loan balances grew by $92 million from the second quarter of 2014 to the second quarter of 2015, according to Experian Automotive’s latest State of the Automotive Finance Market report. It was the largest dollar volume growth since 2006. Findings from the report showed that ... Read More »

Auto Loan and Lease Balances Top $1 Trillion, Equifax Reports

ATLANTA — Equifax reported this week that the total amount of outstanding balances on automotive loans and leases has crossed the $1 trillion mark, with finance companies leading the way. As of June 2015, total outstanding balances on auto loans and leases reached $1.021 trillion, a year-over-year increase of 10.5%. Additionally, the number of outstanding ... Read More »

Chrysler Posts a 3% Drop in Profit After $90 Million Fine

DETROIT —  Fiat Chrysler Automobiles said on Wednesday that profits at its American subsidiary fell 3 percent in the second quarter, primarily because of a record civil penalty against the company for violating federal safety laws, reports the New York Times. The subsidiary, which encompasses operations of the former Detroit automaker Chrysler, reported net income of ... Read More »

Bill Aimed at Texas Reinsurance Regulations to Become Law

HOUSTON — Effective September 1, Senate Bill 1093 will change the laws governing reinsurance, allowing Texas-based companies to compete on par with insurers nationwide. GSFSGroup officials said the company was instrumental in supporting the bill, working closely with Senator Brandon Creighton who authored the bill and its House of Representatives sponsor, Representative Kenneth Sheets. Identifying ... Read More »