News

F&I Express has Added Allegiance Administrators to its eContracting Platform

GM Estimates Ignition Switch Victim Fund Will Cost at Least $400 Million

General Motors estimated that it would pay victims of an ignition-switch defect about $400 million in settlements through a compensation fund administered by an outside official — although it said the cost could increase by $200 million depending on the number of people who file claims, reported Detroit Free Press. The company eked out a ... Read More »

Record North America Profit Boosts Ford Results

Ford Motor Co reported second-quarter operating earnings that beat expectations thanks to record profit in North America, boosting its shares more than 1 percent in early trading, reported Reuters. Pretax profit in North America of $2.44 billion and the company’s first profit in Europe in three years offset weaker-than-expected results in Asia Pacific and South ... Read More »

GM Recalls Continue With Newer Model Camaros, Cadillacs

General Motors Co. (GM) recalled 717,950 vehicles, including some recent-model Chevrolet Camaros and Buick Regals, to repair seats, turn signals and other parts, reported Bloomberg. The action involves six separate recalls, including 414,333 Camaros, Regals and Buick LaCrosses from model years 2011-2012 to replace a bolt for seat-height adjustments, Detroit-based GM said in a statement ... Read More »

Ford Announces New Heads of Lincoln, Engineering

Ford Motor Co. today announced the first senior executive changes under CEO Mark Fields, reported Michigan Live. The moves affect the Dearborn-based automaker’s research and advanced engineering and luxury Lincoln brand. Kumar Galhotra, currently vice president of engineering, will become vice president and president of Lincoln on Sept. 1, replacing Jim Farley, who will remain ... Read More »

Harley-Davidson Upstaged by Polaris in Motorcycle Sales

Harley-Davidson Inc. reported disappointing retail sales of its motorcycles in the second quarter even as smaller rival Polaris Industries Inc. posted a strong showing, reported The Wall Street Journal. Milwaukee-based Harley, the dominant supplier of heavyweight motorcycles in the U.S., reported a 30% rise in profit, reflecting higher profit margins and a rise in shipments ... Read More »

Long List of GM Cars Suffered From Ignition Woes

General Motors Co. knew more than a decade ago that loose ignition switches caused stalling on far more than its Chevrolet Cobalt and related small cars, redesigning switches in at least three high-volume car families between 2003 and 2006, according to recently disclosed company documents, reported The Wall Street Journal. The auto maker didn’t recall ... Read More »

RouteOne to Cover Regulator Scrutiny of F&I Products in Upcoming Webinar

FARMINGTON HILLS, Mich. — RouteOne LLC will discuss the forthcoming scrutiny of F&I products by the Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC) during a complimentary webinar on July 23 at 12 p.m. ET. During the webinar, entitled “CFPB and FTC Update: All About Add-Ons,” RouteOne Staff Attorney Joseph Karam and ... Read More »

Joe Verde Releases New eBook

ORANGE COUNTY, Calif. — Joe Verde Sales & Management Training Inc. released a new eBook titled, “The 10 Technical Skills Every Automotive Sales Manager Needs.”The eBook is the second in a planned series, and one of the most popular excerpts from Joe Verde’s guidebook for auto dealers and managers, “A Dealer’s Guide To Recovery And ... Read More »

Gould to Address Cash, Lease Deals

LAS VEGAS — Gerry Gould, voted a 2013 Best in Class Trainer, will return to Industry Summit to address cash and lease deals in the F&I office. The 30-year industry veteran will break down the ideal product lineup and offer menu configurations designed specifically for each transaction type. Gould, who will also cover key word-track ... Read More »