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WASHINGTON — A federal appeals court on Friday upheld a decision to dismiss a $3 billion 2012 suit brought by Dutch carmaker Spyker Cars NV against General Motors Co. for blocking its sale of Saab Automotive AB to a Chinese buyer, reported The Detroit News. The suit contended that GM — which sold its struggling ... Read More »
Read More →DETROIT – Ford Motor Co. reported net income of $835 million in the third quarter, a drop of about 34 percent from earnings of $1.27 billion in the year-ago period, reported MLive. Pre-tax profit fell to $1.2 billion in the third quarter of 2014 from $2.6 billion in the comparable quarter last year. Ford said ... Read More »
Read More →DETROIT – General Motors announced Thursday net profit of $1.4 billion in the third quarter, compared to earnings of $0.7 billion in the third quarter of 2013, reported MLive. The 100 percent year-over-year improvement comes despite incurring a loss of $0.3 billion in the period, stemming in part from flood damage at the GM Technical ... Read More »
Read More →DALLAS – EFG Companies, the innovator behind the award-winning Hyundai Assurance program, announced its status today as the only F&I product provider to be certified as a Center of Excellence by BenchmarkPortal. The Center of Excellence recognition is one of the most prestigious awards in the customer service and support industry. BenchmarkPortal only awards the ... Read More »
Read More →HANOVER, Md. – CounselorLibrary.com, the publisher of automobile financing and leasing legal compliance services, announced today that it has updated its popular CARLAW® F&I Legal Desk Book. Winner of the Axiom Business Book Award, the book gives readers 362 things to know about auto dealer finance laws and regulations. “CARLAW® F&I Legal Desk Book (6th ... Read More »
Read More →DEERFIELD BEACH, Fla. — Josh Bass has been promoted to vice president of customer services for JM&A Group. In this role, he will oversee all claims and customer service operations in Deerfield Beach and St. Louis and will report to the company’s Chief Operating Officer Ron Coombs. Bass joined JM&A in 2012 as the director ... Read More »
Read More →AGOURA HILLS, Calif. — DMVdesk, Motor Vehicle Software Corporation’s (MVSC’s) vehicle registration software, has announced over one million deals processed in 2014, to date. Averaging in excess of 120,000 transactions per month, DMVdesk reached the one million milestone three months earlier than in 2013, underscoring the company’s rapid growth trajectory. So far this year, DMVdesk ... Read More »
Read More →DETROIT, MI – General Motors released a statement Tuesday throwing its support behind HB 5606, proposed Michigan legislation now on Gov. Rick Snyder’s desk that California electric car maker Tesla Motors calls “anti-Tesla,” reported Michigan Live. “We believe that House Bill 5606 will help ensure that all automotive manufacturers follow the same rules to operate ... Read More »
Read More →DETROIT, MI – It’s hard to remember the last time the word “its” has held such gravity in a proposed piece of state legislation, let alone one that relates to vehicle sales, reported Michigan Live. But in a bill that has made it onto Gov. Rick Snyder’s desk, the word “its” would be taken out ... Read More »
Read More →BMW expects sales to rise further next year as new models boost demand, the German carmaker’s finance chief told a newspaper on Saturday, without giving a detailed forecast, reported Reuters. “Of course we expect further growth in 2015 as we will see the full effect from new models coming to the market on production and ... Read More »
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