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Hyundai Motor Co and its two affiliates approved Asia’s biggest property deal since the financial crisis on Friday when their board members agreed to pay 10.55 trillion won ($10.12 billion) for a trophy plot of land to house a new headquarters in downtown Seoul, reported Reuters. The Hyundai-led group – which includes Kia Motors Corp ... Read More »
Read More →Chrysler Group LLC, a unit of Fiat SpA, said it will recall about 350,000 vehicles from the 2008 model year because of a condition that may cause the ignition key to get stuck or inadvertently move, reported Reuters. In some cases, the ignition switch could upon startup not stop at the “on” position and instead ... Read More »
Read More →SANTA MONICA, Calif. — New vehicle sales projections for September are up as much as 9.7% compared to the same period last year according to forecasts from TrueCar and J.D. Power. Over 1.2 million new light-vehicles will be sold in September which TrueCar is calling the highest number in 7 years. “We expect another strong ... Read More »
Read More →SPRINGFIELD, Mo. – A former used car dealer admits he sold cars with faked odometer readings, reported KY3 News. Ashley Bolton pleaded guilty in Greene County Circuit Court to two counts of using deceptive business practices. His sentencing hearing is scheduled for Dec. 10, and he could face sentences of two to four years in ... Read More »
Read More →WASHINGTON, D.C. — In a report released Sept. 22, the United States Government Accountability Office (GAO) found that while the Consumer Financial Protection Bureau (CFPB) has taken steps to secure the data it has collected — including records from automobile sales, consumer credit report information, credit cards, credit scores, mortgages and student loans — the ... Read More »
Read More →SOUTHLAKE, TX – Intersection Technologies Inc. – F&I Express® is pleased to announce that Roger Hilterbrandt has joined the Executive Team as Sr. Vice President of Sales and Marketing. Roger will be joining the Executive Team that consists of Brian Reed – CEO, and Rich Apicella – Executive Vice President. In Rogers’ new role he ... Read More »
Read More →Cadillac, long the king of Detroit’s auto brands, is abandoning Motown, reported The Wall Street Journal. General Motors Co. said on Tuesday that its struggling luxury brand will move 50 key employees and its headquarters to New York next year amid a wider effort to carve Cadillac out as a stand-alone business unit with more ... Read More »
Read More →McLEAN, Va. – In response to the Consumer Financial Protection Bureau’s white paper released last week concerning the use of proxy methodology to identify potential discrimination in indirect auto financing, the National Automobile Dealers Association issued a four point rebuttal: The scope of CFPB’s white paper is very limited. It is confined to an analysis ... Read More »
Read More →FORT MYERS, Fla. — Haystak Digital Marketing and vAuto are integrating Haystak’s Dynamic Inventory Tool with vAuto’s provision pricing data to tailor advertising to the customer in order to improve the effectiveness of search marketing campaigns. Potential car buyers are shown ads which directly relate to the kinds of cars they are searching for online. ... Read More »
Read More →General Motors Co on Tuesday named an engineer to serve as its first cybersecurity chief as the No. 1 U.S. automaker and its rivals come under increasing pressure to better secure their vehicles against hackers, reported Reuters. The No. 1 U.S. automaker promoted manager Jeff Massimilla to the post as part of an eight-month review ... Read More »
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