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Newsby AE eMagazineJune 15, 2015

G.M. Chief Flatly Dismisses a Merger Overture From Fiat Chrysler

DETROIT — Mary T. Barra, the chief executive of General Motors, on Tuesday firmly rejected the idea that the company could benefit from a combination with a rival automaker like Fiat Chrysler Automobiles, which tried in March to start merger talks with G.M., reports The New York Times. In remarks made before G.M.’s annual shareholders meeting ... Read More »

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Newsby AE eMagazineJune 15, 2015

Arkansas Dealer to Pay $90,000 Penalty for Not Displaying Buyers Guide

JONESBORO, Ark. — An Arkansas auto dealer and its owners have agreed to pay a $90,000 civil penalty to settle Federal Trade Commission charges that they failed to display a “Buyers Guide” on used vehicles offered for sale, as required by the FTC’s Used Car Rule, reports F&I and Showroom. In March 2014, the FTC ... Read More »

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Newsby AE eMagazineJune 15, 2015

Over 40,000 Daimler Vans Will Need New Airbags

Daimler AG made 40,061 vans from 2005 to 2008 with airbags that must be replaced, the National Highway Traffic Safety Administration said, reported by Bloomberg Business. The affected vehicles, the 2007-2008 Freightliner Sprinter 2500 and 3500 and the 2007-2008 Dodge Sprinter 2500 and 3500, were manufactured from July 1, 2005, to July 31, 2008, and ... Read More »

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Newsby AE eMagazineJune 15, 2015

CFPB to Oversee Nonbank Auto Finance Companies

WASHINGTON, D.C. — The Consumer Financial Protection Bureau (CFPB)’s proposal to extend its supervision to any nonbank auto finance company that makes, acquires or refinances 10,000 or more loan or leases in a year has cleared its last hurdle, with the bureau publishing this week its finalized rule and the examination procedures it will follow ... Read More »

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Newsby AE eMagazineJune 15, 2015

Cox Automotive to Invest in Customers and Auto Industry with $4 Billion Acquisition of Dealertrack

ATLANTA & LAKE SUCCESS, N.Y.- Cox Automotive, Inc., a leading provider of digital marketing, wholesale and e-commerce solutions across the automotive industry, and Dealertrack Technologies, Inc., a leader in software solutions and services for automotive retailers, today announced that they have entered into a definitive merger agreement, reports BusinessWire. Cox Automotive will acquire Dealertrack in ... Read More »

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Newsby AE eMagazineJune 10, 2015

Holman Group Acquires Audi Willow Grove

MAPLE SHADE, N.J. — Holman Automotive Group acquired Audi Willow Grove in Willow Grove, Pa. The dealership is now the second Audi store under the Holman brand. Audi Willow Grove was owned and operated by Don Rosen, who has been affiliated with the Audi brand for over two and a half decades. Under his leadership, ... Read More »

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Newsby AE eMagazineJune 10, 2015

Southeast Toyota Finance Adopts RouteOne Platform

FARMINGTON HILLS, Mich. — RouteOne has announced that Southeast Toyota Finance, a provider of automotive financing to 176 Toyota dealers in the Southeastern United States, is now available on its automotive finance platform. “We are excited to welcome Southeast Toyota Finance to our platform,” said RouteOne CEO Mike Jurecki. “This integration brings our Toyota dealers ... Read More »

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Newsby AE eMagazineJune 9, 2015

NHTSA Admits Faults in GM Investigation

The National Highway Traffic Safety Administration admitted Friday it made a series of errors in its handling of General Motors Co.’s delayed recall of 2.6 million cars with faulty ignition switches linked to 109 deaths and more than 200 injuries, reports The Detroit News. The federal agency pledged to make significant reforms. NHTSA is bracing ... Read More »

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Newsby AE eMagazineJune 9, 2015

Mazda Adds 540,000 Vehicles to Takata Air Bag Recall

Japanese automaker Mazda Motor Co. said Friday it is recalling nearly 540,000 cars and pickups in North America for air bag inflators that can explode, adding to the massive recall of vehicles with potentially defective Takata Corp. air bags, reports The Detroit News. Recalled cars include the 2003-08 Mazda 6, 2006-07 MazdaSpeed 6 and the ... Read More »

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Newsby AE eMagazineJune 9, 2015

Exclusive: Takata, U.S. Regulator Can’t Say How Many Cars May Have Faulty Air Bags

DETROIT – At least 400,000 of the 4 million replacement inflators for defective Takata air bags will need to be replaced again in U.S. vehicles, sources at the Japanese safety equipment maker and the U.S. safety watchdog told Reuters. Another 500,000 of those parts appear to be safe, according to U.S. safety regulators, leaving the ... Read More »

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