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Toyota Motor Corp. said global sales climbed 2.8 percent in the first nine months of this year as the carmaker battles Volkswagen AG for leadership, reported Bloomberg. Worldwide deliveries for Toyota, including its Hino Motors Ltd. and Daihatsu Motor Co. units, climbed to 7.6 million vehicles through September, spokesman Dion Corbett said by phone. Volkswagen ... Read More »
Read More →SANTA MONICA, Calif. — Edmunds today pulled an online advertising campaign designed to promote its Price Promise program after backlash from dealers. The campaign, which was launched Monday, included four YouTube videos that depict a cashier trying to overcharge customers for items at a grocery store, then haggling with shoppers who refused to pay. At ... Read More »
Read More →IRVING, Texas — Exeter Finance Corp. announced late Tuesday that CEO Mark Floyd will step down from the post he’s held since 2010. Replacing him will be Thomas Anderson, a veteran of the financial service industry. He will step into his new role on Nov. 3. Officials with the subprime auto finance company said Floyd ... Read More »
Read More →LANSING, Mich. — Michigan Governor Rick Snyder signed into law on Tuesday legislation that adds tighter restrictions on direct-to-consumer vehicle sales. The move effectively bans Tesla Motors from selling vehicles in the state. Introduced in May, House Bill 5606 originally focused on prohibiting auto manufacturers from dictating what fees a franchised dealer can charge customers. ... Read More »
Read More →Toyota Motor Corp. said Friday it has sold some of its stake in Tesla Motors Inc., days after German luxury car maker Daimler AG disclosed it had divested its Tesla shares for a sizable gain, reported The WSJ. The sale came “as part of our process of regularly reviewing our investment portfolio,” Toyota said in ... Read More »
Read More →WASHINGTON — A federal appeals court on Friday upheld a decision to dismiss a $3 billion 2012 suit brought by Dutch carmaker Spyker Cars NV against General Motors Co. for blocking its sale of Saab Automotive AB to a Chinese buyer, reported The Detroit News. The suit contended that GM — which sold its struggling ... Read More »
Read More →DETROIT – Ford Motor Co. reported net income of $835 million in the third quarter, a drop of about 34 percent from earnings of $1.27 billion in the year-ago period, reported MLive. Pre-tax profit fell to $1.2 billion in the third quarter of 2014 from $2.6 billion in the comparable quarter last year. Ford said ... Read More »
Read More →DETROIT – General Motors announced Thursday net profit of $1.4 billion in the third quarter, compared to earnings of $0.7 billion in the third quarter of 2013, reported MLive. The 100 percent year-over-year improvement comes despite incurring a loss of $0.3 billion in the period, stemming in part from flood damage at the GM Technical ... Read More »
Read More →DALLAS – EFG Companies, the innovator behind the award-winning Hyundai Assurance program, announced its status today as the only F&I product provider to be certified as a Center of Excellence by BenchmarkPortal. The Center of Excellence recognition is one of the most prestigious awards in the customer service and support industry. BenchmarkPortal only awards the ... Read More »
Read More →HANOVER, Md. – CounselorLibrary.com, the publisher of automobile financing and leasing legal compliance services, announced today that it has updated its popular CARLAW® F&I Legal Desk Book. Winner of the Axiom Business Book Award, the book gives readers 362 things to know about auto dealer finance laws and regulations. “CARLAW® F&I Legal Desk Book (6th ... Read More »
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