AE eMagazine

Approved Death Claims Related to GM Ignition Switch Recall Rise to 36

The number of approved death compensation claims related to a recall of a faulty General Motors ignition switch has edged up to 36, reported MLive. The claims were approved by a fund set up by GM to compensate victims of a defective part in mid-to-late-2000s model cars that has led to a massive recall and ... Read More »

GM Recalls 361,357 Vehicles For Headlight Issue

General Motors Co. is recalling more than 316,350 sport-utility vehicles and a handful of other car models in North America, marking the 79th recall action the auto maker has taken this year, reported The WSJ. The auto maker found that an intermittent or permanent power loss of low-beam headlamps exists in its Buick LaCrosse sedans ... Read More »

BMW Not Interested in Buying Stake in Tesla

Germany’s BMW is not interested in buying a stake in U.S. electric carmaker Tesla Motors, German weekly WirtschaftsWoche reported on Friday, citing a BMW statement, reported Reuters. Earlier this week, a Tesla spokeswoman said there had been informal talks between the companies, but there were no plans to set up an alliance.

Toyota Recalls More Cars for Dangerous Takata Air Bags

Toyota Motor Corp said on Thursday it would recall 57,000 vehicles globally to replace potentially deadly air bags made by Takata Corp, as a safety crisis around the Japanese auto parts maker looks far from being contained, reported Reuters. Toyota’s action follows a recall by rival Honda Motor Co for the same problem two weeks ... Read More »

Process vs Instinct

Lincoln, VW Captives Rank Highest in Customer Satisfaction, JD Power Reports

WESTLAKE VILLAGE, Calif. — Auto finance sources cannot focus their efforts on only one or two areas of the financing process and expect to have satisfied customers; they need to excel in all areas throughout the life of the loan or lease. That was the conclusion of J.D. Power and Associates’ 2014 U.S. Consumer Financing ... Read More »

CFPB Takes First Action Against BHPH Dealer

WASHINGTON — Today, the Consumer Financial Protection Bureau (CFPB) took its first action against a buy-here, pay-here (BHPH) dealer. DriveTime Automotive Group was ordered to pay an $8 million civil penalty as well as end its unfair debt collection tactics, fix its credit reporting practices, and arrange for harmed consumers to obtain free credit reports. ... Read More »

New Comprehensive Study of Loan Records Refutes CFPB Position on Auto Lending

WASHINGTON – A new comprehensive study of more than 8.2 million loan records by Charles River Associates concludes that the method used by the Consumer Financial Protection Bureau (CFPB) to measure for discrimination in an auto lender’s portfolio is “conceptually flawed in its application and subject to significant bias and estimation error,” reported the NADA. ... Read More »

Two More Deaths Identified by GM Ignition-Switch Program

Two additional deaths have been attributed to a faulty ignition switch in General Motors Co vehicles, bringing the total to 35, according a report on Monday from the lawyer overseeing a program to compensate for deaths and accidents linked to the part, reported Reuters. As of Friday, the program, which began accepting claims on Aug. ... Read More »

Tesla Says in Talks with BMW Over Car Batteries, Parts

U.S. electric carmaker Tesla Motors is in talks with Germany’s BMW over a possible collaboration in batteries and lightweight components, Tesla’s Chief Executive Elon Musk told German weekly Der Spiegel, reported Reuters. In an interview published on Sunday, Musk described BMW’s production of carbon fibre reinforced car body parts as “interesting” and “relatively cost efficient.” ... Read More »