Tariq Kamal
Former Associate Publisher
AE Magazine
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SEARCHMENUSEARCHFormer Associate Publisher
The U.S. Department of Justice announced Nissan Motor Acceptance will pay $3 million to settle charges that it unlawfully repossessed 113 vehicles belonging to active military members.
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July deliveries increased 1.3% in the first monthly U.S. new-vehicle sales report to include none of the Detroit 3 automakers, but the seasonally adjusted annualized rate fell below 17 million for the fourth time this year.
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The nation’s six largest publicly traded dealer groups all increased F&I profit per vehicle retailed in the second quarter, led by AutoNation’s $1,926 per copy and Lithia Motors’ segment-leading 11% improvement.
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Facing new global realities and pressure on multiple fronts, the Federal Reserve cut interest rates for the first time in more than a decade in an attempt to prolong the economic expansion.
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The starting prices for the Model X SUV and Model S sedan went up nearly $5,000 overnight following the abrupt deletion of their ‘standard range’ variants from Tesla’s lineup.
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An Orange County jury found in favor of Toyota dealer Roger Hogan, who sued the factory for fraud and breach of contract amid claims the manufacturer concealed safety defect data and retaliated against him for going public with his concerns.
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Kerrigan Advisors analysts say the stock prices for America’s seven publicly traded dealership groups are outpacing the broader U.S. equity markets and could soar higher on lower interest rates and new trucks.
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U.S. dealers sold 2.6% fewer new cars and light trucks in June than in the same month a year ago, but standout performances in key segments kept the seasonally adjusted annualized selling rate above 17 million for the second straight month.
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Famed auto executive and visionary Lee Iacocca has died, leaving a legacy of leadership, ingenuity, and a no-nonsense approach to the design, sale, and financing of American vehicles.
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Gov. Greg Abbott has signed a bill that clears the way for Berkshire Hathaway Inc. to sell cars in Texas while manufacturing RVs in Indiana, resolving an ongoing dispute between Berkshire Hathaway Automotive and the Texas DMV.
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