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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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Ford Motor Co has told its U.S. dealers to stop test-driving and selling C-Max and Focus models produced during a week this month because of potential problems with the steering gear assembly, a notice sent to dealers on Wednesday shows, reported Reuters. A Ford spokeswoman said Thursday none of the affected vehicles were sold to ... Read More »
Read More →WASHINGTON, D.C. — On Wednesday, the Consumer Financial Protection Bureau (CFPB) ordered First Investors Financial Services Group Inc. to pay a $2.75 million fine for providing inaccurate information to credit reporting agencies. The issue was related to computer system flaws, which the agency said impacted “tens of thousands” of the auto finance company’s customers. Texas-based ... Read More »
Read More →SCHAUMBURG, Ill. — The total dollar amount of automotive loan balances outstanding hit $839.1 billion in the second quarter of 2014, up 11.7% from the previous year, according to Experian Automotive’s latest State of the Automotive Finance Market report. Further findings from the report showed that, while still at near historic lows, 60-day loan delinquencies ... Read More »
Read More →CHICAGO — An agreement between the Chicago Automobile Trade Association and Scout Automotive Marketing will make car shopping on DriveChicago.com an even better experience for consumers. The deal, which places Scout’s Trade Express trade-in valuation tool on the DriveChciago.com site, gives shoppers a more accurate trade value for their car, with data provided by NADA ... Read More »
Read More →Austin, Texas – IAS, a leading provider of F&I solutions to automobile dealerships, today announced Keith Cooper has joined the company as senior vice president of sales, effective August 11. Mr. Cooper succeeds longtime IAS executive Jeff Jagoe who has been with the company since 1995. Mr. Jagoe will assume the newly created role of ... Read More »
Read More →McLEAN, Va. – In response to the National Highway Traffic Safety Administration’s new Vehicle Identification Number (VIN) look-up tool for vehicle recall information, Forrest McConnell, chairman of the National Automobile Dealers Association and a Honda/Acura dealer in Montgomery, Ala., issued the following statement: “The new online look-up tool will help new-car dealerships identify whether a ... Read More »
Read More →LOS ANGELES — Westlake Financial Services has reached a significant milestone of $2 billion in total receivables with more than 270,000 customer accounts. The achievement was met in July 2014, which was the best production for July in Westlake history. “Having a portfolio of $2 billion dollars is a huge accomplishment,” said Don Hankey, chairman ... Read More »
Read More →The U.S. government is offering a free online service for drivers to find out if their vehicles have been recalled but not repaired, reported The Detroit News. The National Highway Traffic Safety Administration said the service started Wednesday on its website, www.safercar.gov. Drivers can key in their vehicle identification number to get the results. The ... Read More »
Read More →WASHINGTON — Last week, the U.S. Department of the Treasury announced that it would continue to wind down its investment in Ally Financial by selling additional shares of common stock through its first pre-defined written trading plan. The Treasury currently holds 75,065,340 shares, or approximately 16% of Ally common stock. “Treasury’s sale of additional Ally ... Read More »
Read More →SACRAMENTO, Calif. — New-vehicle registrations in the state continued to improve during the first half of 2014 vs. 2013, according to a report from the California New Car Dealers Association (CNCDA). With an increase of 7.3% this year, California’s sales are still on track to approach 1.8 million new units. California also continues to outpace ... Read More »
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