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DETROIT, Mich. – Despite posting its strongest third quarter since 1980, General Motors appears to have given up its spot at second place in global sales to Volkswagen for the first nine months of 2014, reported Michigan Live. GM’s global sales were up 2 percent to 7,371,743 vehicles through September, but VW said it sold ... Read More »
Read More →Honda Motor Co. asked a third party to determine whether the automaker underreported fatality and injury claims to the U.S. government, which is investigating air-bag failures with potentially deadly defects, reported Bloomberg. The third-party audit began in September and Honda will soon share its findings with the National Highway Traffic Safety Administration, the Tokyo-based company ... Read More »
Read More →General Motors was hit with its biggest lawsuit so far over serial recalls, brought on behalf of drivers of 27 million vehicles who are seeking more than $10 billion in compensation for fallen car prices, reported Detroit Free Press. The class action against GM aims to represent everyone who bought or leased a recalled car ... Read More »
Read More →Chrysler Group on Thursday announced two global recalls of more than 900,000 cars and SUVs combined for problems that could cause fires, reported Reuters. Chrysler, a unit of Fiat Chrysler Automobiles, is recalling about 470,000 cars and SUVs globally from model years 2011 through 2014 and equipped with a 3.6 liter engine and a 160 ... Read More »
Read More →SCOTTSDALE, Ariz. – The National Automobile Dealers Association’s board of directors has elected Bill Fox as chairman for 2015. Fox, who represents New York’s franchised new-car dealers on the NADA board of directors, will assume the position of chairman and CEO at the 2015 NADA Convention & Expo next January. “It is a true honor ... Read More »
Read More →New York – Auto analysts said Tuesday U.S. sales will continue to rise in the next few years, but the pace of growth will slow further in 2015, reported The Detroit News. U.S. auto sales are on pace to rise 5 percent in 2014 to 16.4 million — the best performance since 2006 — after ... Read More »
Read More →LAKE SUCCESS, N.Y. — Dealertrack Technologies has received certification from Reynolds and Reynolds for its CRM. The certification is part of the Reynolds Certified Interface (RCI) Program and applies to the ERA dealership management system (DMS). The RCI Program provides a standardized approach to handling dealership data from a Reynolds DMS in a safe, secure ... Read More »
Read More →WASHINGTON, D.C. — The Consumer Financial Protection Bureau (CFPB)’s proposed rule that would give it supervisory authority over larger participants in the nonbank auto finance segment was published in the Federal Register on Oct. 8, kicking off a 60-day public comment period that ends on Dec. 8. If adopted, the proposed rule would generally allow ... Read More »
Read More →IRVING, Texas — Exeter Finance Corp. announced Monday the pricing of a $500 million securitization backed by auto loan receivables. The private offering consisted of four classes of fixed rate notes issued by Exeter Auto Receivables Trust 2014-3 and priced on Oct. 9, 2014. The Class A notes were rated AAA/AA by DBRS and Standard ... Read More »
Read More →DETROIT — Ford Motor Company and Carfax have expanded their partnership in the Ford and Lincoln Certified Pre-Owned (CPO) programs. Ford is continuing its commitment to provide Carfax Vehicle History Reports for free to buyers and sellers of certified Ford and Lincoln vehicles. In addition, all Ford and Lincoln CPO cars will now be listed ... Read More »
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