National General Holdings Corp. and three subsidiaries wrongfully force-placed collateral protection insurance products on massive numbers of vehicles financed through Wells Fargo, according to the U.S. Justice Department.
Source: autonews.com
GM uses dealer feedback to implement online sales platform
Since Frank Kent Motor Co.'s Cadillac dealerships joined a pilot for General Motors' new online sales tool a year ago, the Texas group has realized two positive trends.The platform saves time because customers can select a vehicle, configure a down payment, value a trade, and choose finance and insurance products on their own or with a sales employee, said Aaron Hoernke, the group's marketing … [Read More...]
GM to recall over 449,000 pickup trucks, SUVs in US
General Motors is recalling 449,671 pickup trucks and SUVs in the U.S. due to inoperative low brake fluid warning, the U.S. National Highway Traffic Safety Administration said on Friday. Source: autonews.com … [Read More...]
2024 Automotive Hall of Fame induction: A night to remember
Family, friends and colleagues gathered at Michigan Central Station, recently revitalized by Ford Motor Co., in Detroit on Sept. 14 to celebrate this year's seven inductees into the Automotive Hall of Fame. /cdn-cgi/scripts/5c5dd728/cloudflare-static/email-decode.min.js Betsy Ancker-Johnson was the first female vice president in the automotive industry, hired in 1972 by General Motors. … [Read More...]
Northvolt hits new battery milestone even as cash woes mount
Northvolt has hit a new high for the production of lithium-ion battery cells at its main plant in Sweden, even as the company scales back some operations to address a financing crunch. The group produced 60,000 cells at the Skelleftea site last week, its highest tally ever, meaning that production has increased threefold since the start of the year, spokesperson Matti Kataja said. “We now need to … [Read More...]
How much auto demand will the Fed's 0.5-point rate cut produce?
The Federal Reserve's lowering of its benchmark rate target 0.5 points could reduce the market interest rates that Cox Automotive polling indicates are dealerships' No. 1 challenge. But while experts said the Fed's action on Sept. 18 would draw some consumers back to the auto market, it was unclear whether a corresponding half-point drop in auto interest rates would be enough to unleash the demand … [Read More...]
Stellantis chair John Elkann has assets seized over alleged tax fraud
MILAN — An Italian judge has seized assets worth about €75 million ($84 million) from five people including Stellantis and Ferrari Chairman John Elkann over an investigation into alleged tax fraud, the Turin prosecutor's office said on Sept. 20. The investigation, opened earlier this year, alleges Elkann and his siblings did not pay taxes in Italy on assets they inherited after the death in 2019 … [Read More...]
Stellantis chair Elkann targeted in $84 million seizure over alleged tax fraud
MILAN — An Italian judge has seized assets worth around $84 million from five people including Stellantis and Ferrari Chair John Elkann over an investigation into alleged tax fraud, the Turin prosecutor's office said on Friday. The investigation, opened earlier this year, alleges Elkann did not pay tax on assets he and his siblings inherited after the death of their grandmother in … [Read More...]
GM uses dealer feedback to implement online sales platform
Since Frank Kent Motor Co.'s Cadillac dealerships joined a pilot for General Motors' new online sales tool a year ago, the Texas group has realized two positive trends. The platform saves time because customers can select a vehicle, configure a down payment, value a trade, and choose finance and insurance products on their own or with a sales employee, said Aaron Hoernke, the group's marketing … [Read More...]
Stellantis taking heat from dealers, UAW amid EV push
UAW President Shawn Fain said it's not every day that the union finds itself on the same side as dealers.But the two groups have become united in their belief that Stellantis CEO Carlos Tavares is mismanaging the world's fourth-largest automaker.Dealers say "reckless short-term decision-making to secure record profits in 2023" has left them "anemic and diminished," piling up inventory as U.S. … [Read More...]
The Top-10 Selling SUVs, Subaru Forester Isn’t Close To the Top, Is It The Best?
Follow us today... Should you buy a new SUV because of its popularity? A best-selling SUV does not necessarily mean it's best for you and your family. Discover why the 2025 Subaru Forester, a unique and standout choice, could be your top pick now. U.S. News says, "When you think of SUVs, a few models likely spring to mind, like the Toyota RAV4 and Honda CR-V, or … [Read More...]