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HARRISBURG, Pa. — The state Superior Court upheld a ruling last week that awarded the driver and five passengers in a Toyota minivan $15.6 million from Center City Toyota and Ardmore Toyota. The plaintiffs alleged that the dealerships had failed to properly inspect the vehicle, which malfunctioned and careened into a ravine, reports The Legal ... Read More »
Read More →YONKERS, N.Y. — An administrative judge from New York’s Department of Motor Vehicles said Wednesday that General Motors’ (GM) statewide sales benchmark is unreasonable, ruling that the automaker cannot enforce a post-bankruptcy agreement with one of its dealers, Beck Chevrolet Co. Inc. Administrative Law Judge Walter Zulkoski found that the manufacturer’s sales benchmark was unfairly ... Read More »
Read More →CARSON, Calif. — AutoMD Inc., previously a wholly-owned subsidiary of U.S. Auto Parts Network Inc. (PRTS), announced that Federal-Mogul Motorparts — a division of Federal-Mogul Holdings Corporation — Cox Automotive Inc., and existing U.S. Auto Parts investors have purchased a minority stake in AutoMD. In connection with their investment, Federal-Mogul will also provide strategic support ... Read More »
Read More →The Oak Group has entered into a strategic alliance partnership with Total Warranty Services, Inc. (“TWS”) of West Palm Beach Florida. Founded in 1975, The Oak Group (including its related affiliates) is a leading master general agency and third-party administrator of vehicle service contracts (“VSCs”) and related ancillary products sold through automotive dealerships nationwide. Oak’s ... Read More »
Read More →DETROIT, Mich. – Competition in automotive retailing is the cornerstone of the franchised new-car dealer network which benefits both car buyers and automakers, said Forrest McConnell, chairman of the National Automobile Dealers Association. “Competing with the dealer down the street or on the Internet benefits car buyers across the nation,” McConnell said today in remarks ... Read More »
Read More →It’s a good time to buy a used car, reported The Detroit News. Millions of previously owned cars and trucks are flooding the market as leases expire and customers look to upgrade. Prices have fallen since the start of the summer, and inventories are climbing. It’s a delayed reaction to a recovering auto industry: When ... Read More »
Read More →PAUL, Minn. — Minnesota Attorney General Lori Swanson filed a lawsuit on Sept. 24 against Irving, Texas-based Enterprise Financial Group Inc. (EFG Companies), charging the F&I product provider with violating three consumer-protection laws for the way it handled service-contract cancellations and consumer refunds. Filed in Hennepin County District Court, the complaint, which seeks unspecified civil ... Read More »
Read More →ATLANTA — While year-to-date auto loan growth rates have slowed compared to last year, totals for new credit and the number of new loans originated for auto purchases are at all-time highs, according to Equifax’s latest National Consumer Credit Trends Report. Through June, the total number of new loans originated was 12.5 million, an increase ... Read More »
Read More →BIRMINGHAM, Ala. — A sales manager, finance manager and three salespeople who either work for, or previously worked for, Serra Nissan are facing federal charges in connection with a scheme at the dealership to fraudulently boost loan approvals and car sales. Scott Burton, 36, of Odenville, Michael J. Wilkinson, 56, of Moody, Dwight A. Perry, ... Read More »
Read More →Italian carmaker Fiat said on Tuesday its merger into holding group Fiat Chrysler Automobiles (FCA) would be effective as of Oct. 12 after all conditions for the tie-up were met, reported Reuters. Fiat completed the full buyout of its U.S. unit Chrysler this year and is now incorporating all its businesses under Dutch-registered FCA, paving ... Read More »
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