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Newsby AE eMagazineAugust 6, 2014

GM’s Subprime Lending Draws Justice Department Scrutiny

General Motors Co. must turn over documents related to its subprime auto-lending under a subpoena issued by the U.S. Justice Department, the Detroit auto maker disclosed in a regulatory filing Monday, reported The Wall Street Journal. GM’s car-financing unit said it received the subpoena July 28 in connection with a federal investigation of subprime auto ... Read More »

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Newsby AE eMagazineAugust 6, 2014

Illinois Auto Dealers Association Selects NADART as its Preferred Retirement Plan Provider

McLEAN, Va. – NADART and the Illinois Automobile Dealers Association (IADA) announced today a new strategic partnership. As IADA’s preferred retirement plan provider, NADART will provide customized retirement plans to its member dealers and dealership employees, according to NADA. “We are excited to partner with NADART,” said IADA President Peter Sander. “Together we share a ... Read More »

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Newsby AE eMagazineAugust 6, 2014

Nicholas Angelides Joins American Auto Guardian, Inc.

SCHAUMBURG, Ill. – American Auto Guardian, Inc. (“AAGI”) is pleased to announce that Nicholas Angelides has joined its sales team as Central Regional Vice President. Nick received his bachelor’s degree in Business Administration, Economics from Florida Atlantic University. During college and after graduation, Nick worked at Nation Safe Driver, as an independent account executive, where ... Read More »

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Newsby AE eMagazineAugust 4, 2014

VisionMenu Adds Portfollio and Wise F&I to its vRate™ Platform

FORT WAYNE, Ind. – VisionMenu has integrated Portfollio and Wise F&I it’s to vRate™ for its electronic menu. vRate™ is an unprecedented “new feature” of VisionMenu which allows the user to rate multiple providers and multiple products simultaneously. vRate™ is a “direct to the provider” electronic rating tool that will populate all of the rates ... Read More »

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Newsby AE eMagazineAugust 4, 2014

CNA National Welcomes New Regional Vice President, Ted Twombly

SCOTTSDALE, Ariz. – CNA National is pleased to announce that, effective July 7, Ted Twombly has joined the sales team as regional vice president. “Ted brings to CNAN a wealth of experience in the automotive industry, having spent significant time with both dealerships and a service contract company,” says Alan Miller, senior vice president of ... Read More »

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Newsby AE eMagazineAugust 4, 2014

NADA: New-Car Sales Gain from Low Interest Rates, Stronger Housing Market and Rising Employment

McLEAN, Va. – Low financing rates for auto loans, rising home values and an improving employment outlook are key factors contributing to a resurgence in new-car and light-truck sales through the first seven months of the year, says Steven Szakaly, chief economist for the National Automobile Dealers Association, reported The NADA. “Looking ahead, there is ... Read More »

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Newsby AE eMagazineAugust 4, 2014

Fiat Shareholders Approve Reorganization

Fiat SpA shareholders approved a reorganization that opens the way for the Italian car maker that owns Chrysler Group LLC to move its headquarters to the Netherlands, its tax domicile to the U.K. and list its shares in New York, reported The Wall Street Journal. With Friday’s green light from shareholders, Fiat will now merge ... Read More »

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Newsby AE eMagazineAugust 4, 2014

Blast at GM Supplier Plant in China Kills 68, Hurts 187

Sixty-eight people were killed and nearly 200 others injured, most with severe burns, after an explosion Saturday at an automotive parts factory in eastern China that supplies General Motors, officials said, reported The Detroit News. It was China’s most serious industrial disaster since a fire at a poultry plant killed 119 people in June last ... Read More »

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Newsby AE eMagazineAugust 4, 2014

Toyota Dreams of Green Car Future, But Tied to Gas-Guzzler Present

Toyota Motor Corp is hitching its future to green cars, investing billions of dollars in gasoline-electric hybrids and fuel-cell vehicles, but for now its record profit performance is being powered largely by a gas-guzzling U.S. market, Reuters. In the United States, relatively cheap gasoline prices helped to spur brisk 9 percent growth in industry-wide light ... Read More »

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Newsby AE eMagazineAugust 4, 2014

GM’s Faulty-Ignition Fund Taking Victims’ Claims

A fund set up by General Motors to pay for deaths and injuries caused by its vehicles with faulty ignitions is accepting claims, reported The Detroit News. The five-month filing period that began Friday is part of the fallout from General Motors’ recall of 2.6 million small cars beginning in February. That recall forced General ... Read More »

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