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Final rules just issued by the Department of Justice are designed to help prevent auto fraud by connecting motor vehicle agencies in states throughout the country and requiring more insurance companies to disclose totaled vehicles. The new rule will close previous loopholes and improve the ability of auto dealers and consumers to track potentially dangerous salvage vehicles.
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Multiple elements of the Obama Administration are trying to reconcile environmental policy with fiscal policy as it considers California's waiver request to implement tighter greenhouse gas standards and keep Detroit automakers solvent. The solution may be implementation of higher corporate average fuel economy standards nationally to cut CO2 emissions and avoid a patchwork of standards.
Auction Business Showing a Bounce
While revenues and profits for KAR Holding dipped in the fourth quarter of 2008, company management believes the slide has bottomed out. They believe that the business began to turn around in late November. ADESA and Insurance Auto Auctions have experienced gains in revenues per unit and increased volume. Only the company's finance arm, Automotive Finance Corp., continues to struggle.
