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FRANKFURT – BMW Group is preparing to rethink its products, design and business models for the advent of driverless cars, Mini boss Peter Schwarzenbauer said. The executive said the competitive advantage for premium carmakers will be rooted in their ability to offer a portfolio of transport options far beyond just selling a car, reports Automotive ... Read More »
Read More →TOKYO – Suzuki says it will buy back the 19.9 percent stake held by top shareholder Volkswagen Group after an international arbitration court last month ordered the German automaker to sell its holding, reports Automotive News. The Japanese automaker said it would repurchase on Thursday as many as 122.77 million shares at today’s closing price ... Read More »
Read More →SAN CLEMENTE, Calif. — The Federal Trade Commission official who led the agency’s Operation Ruse Control, which resulted in 252 auto-related enforcement actions, shared this week the seven deadly sins of advertising that put dealers on her regulatory radar. Cindy Liebes, director of the Federal Trade Commission’s Southeast Region, shared her list ahead of her ... Read More »
Read More →NEWARK, N.J. — A used car dealership has been ordered to pay $693,645.91 after a Superior Court Judge found that it violated state consumer protection laws and regulations a total of 640 times. The state’s ten-count complaint against RLMB Inc., filed this March, alleged that RLMB and its manager, Michael L. Bloom, violated the Consumer ... Read More »
Read More →DEARBORN, Mich. — Lincoln Automotive Financial Services is offering its finance and lease customers complimentary credit-protection that includes 24/7 credit monitoring and alerts, unlimited access to their credit reports and score, lost wallet protection and up to $1 million in identity theft insurance coverage with no deductible. The package, which last for two years, depending ... Read More »
Read More →ATLANTA — Digitizing the F&I process can have lasting, positive impacts on customer satisfaction for automotive retailers, a new study from MakeMyDeal and F&I Express has concluded. Titled “The Digital F&I Experience Study,” the study showed that consumers who had one or more digital elements in the F&I experience were more likely to purchase F&I ... Read More »
Read More →HARRISBURG, Pa. — Credit Connection Auto Sales in central Pennsylvania has reached a $12,500 settlement with the state’s attorney general for allegedly leasing vehicles that needed a considerable amount of repair work and using lease agreements that did not comply with federal law. The business offers vehicles on a lease-to-own basis at its locations in ... Read More »
Read More →DETROIT — E-Credit Express has entered into an exclusive partnership with National Credit Center to provide credit reporting services for the automotive industry. This joint venture enhances ECE’s Credit Sale Platform’s capabilities with “soft pull” credit technology that eliminates traditional lender “hard pull” credit inquiries, while providing lenders with the identical credit reporting information. “The ... Read More »
Read More →St. LOUIS — Dent Wizard International has appointed Ben Ashby as project manager for the company’s growing wheel remanufacturing business. In this newly-created role, Ashby will provide ongoing operational support and technical training for Dent Wizard’s wheel repair centers in St. Louis, Phoenix and New England. Ashby will work from Dent Wizard’s St. Louis headquarters, ... Read More »
Read More →ORLANDO, Fla. — US Equity Advantage (USEA) will temporarily suspend its biweekly loan payment service in 16 of the 50 states in which it does business at the end of September. The decision comes in response to recent regulatory changes concerning licensed money transmission and related restrictions placed on the company by its banking partners. ... Read More »
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