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Weathering General Motors’ severest crisis since its 2009 bankruptcy earned CEO Mary Barra another accolade today as Fortune magazine called her crisis manager of the year, reported Detroit Free Press. GM has repaired more than 60% of the 2.4 million cars it recalled for a defective ignition switch that has been linked to 42 deaths, ... Read More »
Read More →Embattled Japanese air bag manufacturer Takata Corp. named a new general counsel for its North American unit Monday — less than a week after its president and chief operating officer resigned, reported The Detroit News. Takata said Bruce D. Angiolillo, a longtime lawyer at Simpson Thacher & Barlett LLP, has been named general counsel at ... Read More »
Read More →Volkswagen’s premium Audi division aims to bring two purely electric vehicles to market by 2018 as it tries to catch up with rivals such as Tesla Motors and BMW, reported Reuters. Audi’s Chief Executive Rupert Stadler told German daily Frankfurter Allgemeine Zeitung (FAZ) in an interview to be published on Saturday that the launch of ... Read More »
Read More →SAN FRANCISCO, Calif. — A1 Software Group announced its new dealership sales solution, Selly, a mobile focused, lightweight platform for automotive sales. Selly is designed for small- to medium-sized dealerships and was initially distributed as a mobile app. “The majority of vendors have built complicated legacy systems that have been selling for years with minimal ... Read More »
Read More →WESTLAKE VILLAGE, Calif. — New-vehicle retail sales in December are expected to reach a SAAR of 14.2 million units, the highest level since 2006, according to a monthly sales forecast released by J.D. Power and LMC Automotive. J.D. Power projects sales of 1.3 million units for December, which represents a 7% increase on a selling ... Read More »
Read More →DENVER — Spiffit, a SaaS provider of automotive retail sales incentive management dashboards, announced this week that Dealertrack Technologies has certified the integration of its application with the software provider’s dealer management system (DMS). The new incentive interface, approved via Dealertrack’s Opentrack Certification Program, will give Dealertrack’s users the ability to efficiently manage and operate ... Read More »
Read More →MEBANE, N.C. —A car dealer has been charged with more than 30 felony counts related to the sale of seven vehicles, WXII12.com reports. Lance Cameron McPeak allegedly collected more than $180,000 from five finance sources — Auto Use, Nextgear Capital, Metrolina Credit Co., the State Employees Credit Union and Truliant Federal Credit Union — for ... Read More »
Read More →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 »
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