AE Magazine
MENU
SEARCHMENUSEARCH
MINEOLA, N.Y. — The law firm of Bellavia Blatt & Crossett filed a mass action lawsuit against TrueCar today, claiming that dealers have been injured by the lead provider’s business practices. So far, 117 dealerships are part of the suit — a number Senior Partner Leonard Bellavia expects to rise drastically. “I have another 50 ... Read More »
Read More →IRVINE, Calif. — A statement released by Wells Fargo Dealer Services didn’t deny the bank has placed a cap on subprime auto loans for this year, but it stopped short of saying the move was the bank’s response to media claims of an overheating auto finance market. Citing unnamed executives from Wells Fargo, The New ... Read More »
Read More →General Motors Co. on Monday became the latest company to return billions of dollars to shareholders amid tussles with investors over how to better allocate corporate cash, reported The WSJ. Facing a potentially contentious fight over a board seat and a larger buyback, the car maker tried to walk the line between placating big investors ... Read More »
Read More →Fiat Chrysler CEO Sergio Marchionne earned more than $38.06 million in 2014 when all of his bonuses and compensation are included, according to an annual report published by Fiat Chrysler Automobiles Thursday, reported Detroit Free Press. An earlier version of this story said Marchionne’s total compensation for 2014 was about $7.2 million using Thursday’s currency ... Read More »
Read More →He was the number two man at the UAW, and responsible for spearheading some of the biggest negotiations during the auto industry’s bleak period of the late 2000s, reported MLive. General Holiefield passed away at the age of 61 Monday after battling pancreatic cancer. Holiefield retired from the UAW last year after twice being elected ... Read More »
Read More →Fiat Chrysler Automobiles is recalling 702,578 SUVs and minivans to fix defective ignition switches that can unexpectedly turn off the engine, according to documents posted Friday by U.S. safety regulators, reported Reuters. The recall covers Dodge Grand Caravan and Chrysler Town and Country minivans from 2008 to 2010 model years and Dodge Journey SUVs from ... Read More »
Read More →WESTPORT, Mass. — The owner of F&R Auto Sales and an employee of the dealership have been charged with threats to do bodily harm and intimidation of a witness after a customer contacted police claiming they had threatened her. Police said in the past year they have received 26 complaints against the dealership, which first ... Read More »
Read More →By: Gregory Arroyo MCCLEAN, Va. ─ Add Capital One to the growing list of finance sources that have received subpoenas from state and federal regulators regarding subprime auto finance originations and securitizations. According to a Feb, 24 regulatory filing with the Securities and Exchange Commission, the finance source received subpoenas from the New York District ... Read More »
Read More →ATLANTA — A subcommittee of the House Motor Vehicles Committee voted March 4 to table House Bill 393, which would have allowed Tesla to continue selling its electric vehicles directly to Georgia’s residents. The state’s dealers were behind the move to freeze the bill, The Atlanta Journal-Constitution reports. Georgia law typically prohibits manufacturers from selling ... Read More »
Read More →SCHAUMBURG, Ill. —Consumers are relying on financing more than ever to buy their next vehicle, according to Experian Automotive. The firm’s latest State of the Automotive Finance Market report shows that the percentage of new vehicles purchased with financing in the fourth quarter of 2014 increased over the previous year to reach 84%. Used vehicles ... Read More »
Read More →