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Newsby AE eMagazineJanuary 20, 2015

Tesla’s Elon Musk: Hydrogen Fuel Cell-Powered Vehicles Are ‘Silly’

DETROIT – Speaking in the Motor City on Tuesday, electric carmaker Tesla Motors’ co-founder and CEO Elon Musk again dismissed hydrogen fuel cell-powered cars as irrational, reported MLive. “I just think they’re extremely silly,” he told reporters at Automotive News’ annual World Congress. His comments came on the same day Honda Motor Co. showed off ... Read More »

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Newsby AE eMagazineJanuary 20, 2015

GM Does Not Have to Turn Over Notes to Ignition-Flaw Plaintiffs: Judge

A U.S. judge on Thursday refused to let plaintiffs’ lawyers suing General Motors Co access notes from lawyers the company hired to prepare an internal report on the automaker’s decade-long mishandling of a deadly ignition-switch flaw, reported Reuters. U.S. District Judge Jesse Furman in Manhattan said interview notes from the “Valukas report” – named for ... Read More »

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Newsby AE eMagazineJanuary 20, 2015

GM Ignition Compensation Death Claims Rise to 49

General Motors’ ignition compensation fund said Monday it has approved 49 death claims, four more than the previous week, along with five new injury claims, reported The Detroit News. In total, GM compensation adviser Kenneth Feinberg has approved claims for 49 fatalities and 72 injury claims linked to defective ignition switches through Jan. 16, his ... Read More »

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Newsby AE eMagazineJanuary 20, 2015

ABA: Delinquencies Continue Broad-Based Decline in Q3 2014

WASHINGTON — The American Bankers Association (ABA)’s chief economist said this month he is optimistic that the economy will continue its upward trend. Driving his positive outlook are rising consumer confidence and falling delinquency rates. In the third quarter 2014, delinquencies for seven out of the 11 credit categories monitored by the ABA showed declines. ... Read More »

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Newsby AE eMagazineJanuary 20, 2015

Larry H. Miller Group to Offer F&I Products Nationwide

SANDY, Utah — Larry H. Miller Groups of Companies will now offer its in-house F&I products to dealerships across the U.S. through its new captive finance administrator, Total Care Auto (TCA). Last week, the dealer group announced that Bryant Henrie, the president of its captive finance arm, Prestige Financial Services Inc., will step into the ... Read More »

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Newsby AE eMagazineJanuary 20, 2015

Arrested Pa. Dealer Faces Additional Fraud Charges

WEST WHITELAND, Pa. — An auto dealer who was arrested in November for fraud offenses is facing additional charges after Pennsylvania State Police investigators uncovered several other alleged victims, Mainline Media News reports. David C. Coughlin was initially charged with selling a woman’s 2012 Porsche 911 Turbo on consignment for $80,000 and keeping the money ... Read More »

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Newsby AE eMagazineJanuary 20, 2015

Minn. AG’s Lawsuit Against EFG Dismissed

PAUL, Minn. — Minnesota Attorney General Lori Swanson’s lawsuit against EFG Companies regarding its direct-to-consumer sales of vehicle service contracts was dismissed on Dec. 24, 2014, 90 days after it was filed in the Fourth Judicial District Court. On Sept. 24, 2014, the attorney general charged the F&I product provider with violating three consumer-protection laws ... Read More »

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Newsby AE eMagazineJanuary 20, 2015

Ally Expands Dealer Training Offerings

DETROIT — Ally Financial has added new training courses to its Performance Development Center, further expanding the scope of its educational offerings for dealers. The new courses address important topics like selling skills, customer loyalty and retention, social media marketing, F&I management and compliance education. Course content leverages nearly 100 years of Ally’s auto industry ... Read More »

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Newsby AE eMagazineJanuary 20, 2015

National Automotive Experts / NWAN Announces Completion of Their New Offices

STRONGSVILLE, Ohio — National Automotive Experts / NWAN is excited to announce the completion of their new 34,000-square-foot office complex. The new building, owned by the company, replaces a 24,000-square-foot office the firm previously leased a block down the street. “The move was totally crazy,” Kelly Price, president of National Automotive Experts / NWAN, “When ... Read More »

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Newsby AE eMagazineJanuary 20, 2015

EasyCare Virtual Training Platform Features Dave Anderson LearnToLead Training Content

ATLANTA, Ga. – EasyCare, the leading independent provider of automotive ownership benefits, has partnered with world renowned speaker and leadership/management trainer Dave Anderson and his Dave Anderson’s LearnToLead® program to deliver Dave’s impactful message to the EasyCare dealer network. Through the partnership, EasyCare’s national team of dealership training professionals will have complete access to all ... Read More »

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