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The Senate is nearing an agreement to confirm the next head of the National Highway Traffic Safety Administration, reported The Detroit News. National Transportation Safety board member Mark Rosekind’s nomination was “hotlined” Friday — an informal request to members of the Senate to agree to allow a nomination or resolution to be approved by the ... Read More »
Read More →Ford Motor Co. named former U.S. Federal Communications Commission chairman William Kennard to its board, adding someone with Washington experience as the auto industry faces increased regulatory scrutiny amid mounting recalls, reported Bloomberg. Kennard, 57, will succeed director Homer Neal, who has reached mandatory retirement age, Dearborn, Michigan-based Ford said in a statement today. Kennard, ... Read More »
Read More →WASHINGTON – A new study by the research firm Charles River Associates (CRA) casts doubts on recent allegations made by the Consumer Financial Protection Bureau (CFPB) against Toyota Motor Credit Corp. and American Honda Finance Corp. concerning disparate impact in the pricing of auto loans, reported the NADA. Among the CRA study’s key findings was ... Read More »
Read More →SAN JOSE, Calif. — A1 Software Group announced its new dealership CRM, Selly, a mobile focused, lightweight CRM 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 systems that have been selling for years with minimal updates ... Read More »
Read More →ATLANTA, Ga. — Manheim selected Shane O’Dell to be the senior vice president of wholesale service, a new role within the company. O’Dell has worked in the vehicle finance industry since 1995. “We feel putting in place a leader with Shane’s industry and operation experience will help us drive continued innovation and growth in this ... Read More »
Read More →DALLAS — Experian Automotive has entered into an agreement with VehicleXchange LLC (VX), allowing the new company to incorporate Experian data into its new suite of auto-loan equity tools, as well as develop a new generation of services that will range from service drive and data mining to dynamic appraisal and digital auto retailing. “VehicleXchange ... Read More »
Read More →SCHAUMBURG, Ill. — The average dollar amount for both new and used vehicle loans reached all-time highs in the third quarter of 2014, according to Experian Automotive’s latest State of the Automotive Finance Market report. The average loan amount for a new vehicle was $27,799 in the third quarter of 2014, up $1,080 from the ... Read More »
Read More →The top six automakers sold more cars and trucks in November than analysts expected, with a healthy economy, generous discounts and low fuel prices luring consumers into U.S. showrooms, reported Reuters. The industry’s annualized sales rate in November was about 17.2 million vehicles, according to industry consultant Autodata Corp. That is the best pace for ... Read More »
Read More →Takata Corp, the Japanese supplier at the center of an air-bag recall crisis affecting millions of vehicles globally, has announced it will form an independent review panel to investigate the company’s handling of a safety defect linked to five deaths world-wide, reported The WSJ. The panel, which will be chaired by former U.S. Transportation Secretary ... Read More »
Read More →The National Highway Traffic Safety Administration said Tuesday that General Motors now has enough parts to fix faulty ignition switches in mid-2000s model cars tied to a massive and deadly recall, reported MLive. So the federal agency is urging owners of the affected cars to get the 1 million or so cars with the faulty ... Read More »
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