AE eMagazine

Portfolio Celebrates 25 Years of Reinsurance Management for Dealers

IRVINE, Calif. – Portfolio, one of the nation’s leading reinsurance program manager for automotive dealers, is celebrating its 25th year of delivering comprehensive reinsurance products and services to its dealer clients through a network of professional independent agents. The celebration started with a black-tie party for dealers during NADA 2015 at San Francisco’s Julia Morgan ... Read More »

Agent Summit Adds Second Room Block

Agent Summit V Focuses on Four Main Topics

VW’s Audi beats Mercedes with record January sales

Audi outsold Mercedes-Benz in January as demand in China and the United States helped Volkswagen’s flagship division post record sales and analysts said the lead over its German rival may widen, reported Reuters. Audi said on Monday sales rose 10 percent last month to 137,700 cars and sport-utility vehicles with the world’s two largest car ... Read More »

GM Extends Top Lawyer’s Stay as Search for Successor Still Ongoing

General Motors Co said it has extended the tenure of its top lawyer, whose department was criticized over how it handled the issue of the automaker’s defective ignition switch linked to more than 50 deaths, and the search for a replacement is ongoing, reported Reuters. Michael Millikin, 66, will now retire in July and be ... Read More »

BlackRock Reports 5.4% Stake in Ford

BlackRock Inc. on Monday reported a 5.4% stake in Ford Motor Co., less than two weeks after the No. 2 U.S. auto maker reported a sharp drop in fourth-quarter profit, reported The WSJ. BlackRock, the world’s largest asset manager, said a year ago that it had a stake of 5.2%, which represents the total amount ... Read More »

Millions of Cars Vulnerable to Hackers, Warns Report

As owners of more than 2 million BMW vehicles recently learned, hackers are now targeting automobiles, and the problem is likely to get worse, warns a new report, reported The Detroit Bureau. The study, overseen by Sen. Edward Markey, a Massachusetts Democrat, comes at a significant time, with automakers loading their vehicles with an assortment ... Read More »

US Gas Prices on the Rise after 123-Day Decline

The average price of gasoline in the U.S. increased during the past week, rising by more than 10 cents per gallon, according to a new survey by AAA, reported The Detroit Bureau. Gas prices had declined for a record 123 consecutive days to $2.03 per gallon before increasing last week for the first time since ... Read More »

Google Can Disrupt Car Industry But is No Automaker, Daimler Says

Technology companies such as Google are unlikely to become mass car manufacturers, even if they have the potential to disrupt an industry increasingly focused on software and automated driving, the head of German carmaker Daimler said on Friday, reported Reuters. In recent years, automakers and Silicon Valley companies have grown increasingly inter-dependent because next-generation cars ... Read More »

Penn. Dealer Pocketed Customer Fees, Police Say

WILKINSBURG, Penn. — The owner and operator of Penn Avenue Auto Sales Inc. has been accused of taking money from at least 40 customers and not submitting title and registration paperwork and fees to Pennsylvania Department of Transportation, the Pittsburgh Post-Gazette reports. Charges are pending against Phillip Vixman while police search for other customers who ... Read More »