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Luxe N.C. Dealerships Change Hands
A collection of Italian and English brand franchises were handed off to the owner’s friend in the business and include the Carolinas’ only Ferrari retail stores.
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SEARCHMENUSEARCHA collection of Italian and English brand franchises were handed off to the owner’s friend in the business and include the Carolinas’ only Ferrari retail stores.
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LAKE SUCCESS, N.Y. — Dealertrack Technologies has announced a cash offer to acquire incadea plc, a provider of DMS software. Under the terms of the transaction, Dealertrack will make a cash offer for the entire issued and to be issued share capital of incadea. The Board of incadea has unanimously recommended that the shareholders accept ... Read More »
Read More →The government is selling the last of its shares in Ally Financial Inc., the former financing arm of General Motors that was bailed out during the financial crisis, reported MLive. Detroit-based Ally said Thursday that the Treasury Department is selling its remaining 54.9 million shares. That amounts to about an 11 percent stake in the ... Read More »
Read More →Fiat Chrysler Automobiles said today that it was able to raise $3.89 billion before expenses from the sale of 100 million shares of stock and a separate bond offering, reported Detroit Free Press. The sale of the stock and bonds will give the automaker much needed capital that it can use to pay down debt ... Read More »
Read More →Volvo Car Corp said it will start selling vehicles online as it rolls out new models to compete with German luxury rivals such as BMW, reported Reuters. The Swedish carmaker, controlled by China’s Geely, will gradually introduce web sales and spend more on digital advertising, it said as it outlined changes to its global marketing ... Read More »
Read More →ATLANTA — Based on consumer credit data collect by Equifax through November, the five-year run of debt deleveraging might be over. The credit reporting agency reported this week that nonmortgage credit balances reached their highest level since the Great Recession in November, totaling $3.1 trilling. Showing the biggest increase were credit balances for auto loans. ... Read More »
Read More →SOUTHFIELD, Mich. — In a Dec. 9 regulatory filing, Credit Acceptance Corporation revealed that it has received a civil investigative subpoena from the U.S. Department of Justice (DOJ). The subpoena requires the finance source produce certain documents related to auto lending practices in the subprime market. Earlier in the month, Credit Acceptance received a civil ... Read More »
Read More →U.S. automaker Chrysler Group LLC said it had changed its name to FCA US LLC effective immediately to follow the naming convention of its parent Fiat Chrysler Automobiles (FCA), reported Reuters. Italian automaker Fiat SpA took management control of Chrysler in 2009 after the American company emerged from government-sponsored bankruptcy. Earlier this year Fiat completed ... Read More »
Read More →DETROIT – The number of approved death compensation claims related to a recall of a faulty General Motors ignition switch has risen to 42, reported MLive. The claims were approved by a fund set up by GM to compensate victims of a defective part in mid-to-late-2000s model cars that has led to a massive recall ... Read More »
Read More →ATLANTA and WALTHAM, Mass. — DealerRater, the car dealer review website for consumers, announced today it has partnered with AutoTrader.com to bring dealership reviews to the car shopping website. AutoTrader.com attracts over 18 million unique visitors each month to more than four million car listings. This new integration enables car shoppers who visit AutoTrader.com to ... Read More »
Read More →WASHIINGTON — Two dealer groups targeted by the Federal Trade Commission two years ago for deceptive advertising are in trouble again, the agency announced today. The two retail chains, which operate more than a dozen stores in five states, were charged with violating the administrative orders prohibiting them from deceptively advertising the cost of buying ... Read More »
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