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Toyota Financial Services CEO to Retire

(l-r) Mark Templin and Mike Groff.

Mike Groff will retire as president and chief executive of Toyota Financial Services (TFS) at the end of this month, and will give way to Mark Templin, who has been serving as chairman of the board of Toyota Motor Credit Corp., the captive finance company has announced.

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Final VW Diesel Modification Approved

Volkswagen has gained final approval on modifications to close its nearly three-year diesel...

Volkswagen has gained approval from air regulators of the final modification plan for the remaining vehicles that contain software designed to defeat emissions tests, the California Air Resources Board has announced.

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BMW Group Financial Services Seeking New Technologies

Photo courtesy of BMW.

BMW Group Financial Services has launched an accelerator program meant to provide entrepreneurs, startups, and small businesses with the opportunity to partner with the captive finance company to develop new technologies, according to the company.

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Ally SmartAuction Coming to Fair

Ally Financial Inc. and Fair have partnered to allow Fair to use Ally’s SmartAuction as a remarketing solution for its returned cars, according to a company announcement.

News

Volkswagen Storing 300,000 Diesels Around U.S.

Screenshot via Reuters.

Volkswagen has been storing the diesel-powered vehicles it bought back from customers at 37 secure storage facilities that include a suburban Detroit football stadium, former Minnesota paper mill, and desert parking lot near Victorville, Calif., Reuters is reporting.