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Exclusive: U.S., Major Automakers to Announce Safety Accord Friday

The U.S. government and a group of global automakers are set to unveil a voluntary agreement at the Detroit auto show on Friday aimed at improving auto industry safety and spurring culture changes, according to company and government officials. The accord could set the framework for further discussions on safety reforms and mark a new ... Read More »

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GE Selling Hyundai Capital Shares to Hyundai, Kia

FAIRFIELD — GE has signed an agreement to sell a 23.3 percent stake of Hyundai Capital Services to Hyundai Motor Company and Kia Motors as part of a broader deal to exit its entire 43.3 percent ownership of the consumer HCS. The transaction, which is subject to regulatory approval, represents aggregate GE ending net investment ... Read More »

EFG Named to Dallas Morning News’ ‘Top 100 Places to Work’ List

DALLAS — F&I product provider EFG Companies was named to the Dallas Morning News’ list of Top 100 Places to Work, marking the ninth national award the company has earned this year for excellence and customer service. “EFG’s awards and certifications reflect our intense focus on operating in our clients’ best interest at all times. ... Read More »

Spending on New Cars Hits All-Time High, Even as Loans Stretch to Record Lengths

While May might not have brought the big uptick in sales we’ve seen in recent months, preliminary data suggest that automakers took in record revenues, with the average transaction price of new cars, trucks and crossovers sold last month climbing by at least 4%, reports The Detroit Bureau.  All told, U.S. buyers spent a record ... Read More »

Hyundai Motor Targets 5 Percent U.S. Sales Growth This Year

South Korea’s Hyundai Motor aims to boost its U.S. sales by 4.7 percent this year, ahead of the industry’s projected growth rate, despite a consumer shift to SUVs and pick-up trucks, reported Reuters. Sales of Hyundai’s mainstay sedans, the Elantra and Sonata, have slowed in the United States as consumers take advantage of lower fuel ... Read More »

Hyundai-Led Group Agrees to $10 Billion Land Deal, Stokes Union Rage

Hyundai Motor Co and its two affiliates approved Asia’s biggest property deal since the financial crisis on Friday when their board members agreed to pay 10.55 trillion won ($10.12 billion) for a trophy plot of land to house a new headquarters in downtown Seoul, reported Reuters. The Hyundai-led group – which includes Kia Motors Corp ... Read More »

Hyundai Issues Third Recall in One Week

After recalling 889,000 Sonatas a few days ago, the company added another 420,000 vehicles to its recall list, including the Sonata again, for brake, electrical and rust issues, The Detroit Bureau. The South Korean maker is taking back 225,000 Santa Fe crossovers in 20 cold weather states. The 2001 to 2006 model year vehicles may ... Read More »

Hyundai Recalls 883,000 Sonatas to Fix Gear Shifters

Hyundai is recalling its popular Sonata midsize sedan to fix problems with the gear shift levers, reported Michigan Live. The recall covers 883,000 cars from the 2011 through 2014 model years. The Korean automaker says the automatic transmission shift cable can separate from the shift lever. If that happens, the lever may not show the ... Read More »

Nissan, Chrysler Lead in Beating Estimates for May Sales

Autobrake Ratings Show Improvement