Ford has sued one of its Japanese suppliers following a criminal case in which the parts maker admitted to being part of a conspiracy to fix prices of key wiring components. Fujikura, of Tokyo, in April 2012 agreed to plead guilty in U.S. District Court in Detroit to one count of price fixing.
Critics of the Consumer Financial Protection Bureau who opposed the agency's single-director structure lost a big battle yesterday as the U.S. Senate confirmed Richard Cordray as the CFPB's first permanent director.
Accountancy firm Deloitte will next week return before a tribunal which is assessing whether it failed to manage conflicts of interest in its advice to MG Rover and four directors who bought the carmaker before it collapsed.
Toyota Division is expanding its "Let's Go Places" advertising theme with experiential marketing events at family-friendly music, art and food festivals across America this summer. The nationwide tour includes events and festivals that involve creativity, healthy living and philanthropic causes.
Penske Automotive Group raised its quarterly dividend 7 percent for the second straight quarter this year, to 16 cents per share from 15 cents, the company said today. The dividend is payable on Sept. 3 to shareholders of record on Aug. 12.
Cash incentives can be structured in a fun way to reward the car salespeople most productive in promoting F&I products. That's one of the tips from last month's Automotive News F&I Week online conference.
There's a fair amount of opinion around that it's too soon to conclude that dealer reserve is on the way out. But perhaps few are as sure or as outspoken as attorney Randy Henrick that the practice still has traction.
Ally Financial, the auto-lender majority owned by federal taxpayers, may raise less than $1 billion in stock to help it pass the Federal Reserve's annual stress test, a person with knowledge of the plans told Bloomberg.
How did a network of 35 Colorado credit unions collectively get to be the biggest auto lender in the state? Partly by acting more like the competition, says Blair Korschun, CEO of CU Direct Connect in Centennial, Colo.
More car buyers are opting for longer loans as they look to lower monthly payments. And not just new-vehicle buyers, either. Lengthening of used-car loan terms "has been significant," says Tom Webb, chief economist for Manheim Consulting in Atlanta.
PSA Banque, the consumer savings bank created in March by PSA, said it might begin operating in Germany after receiving 780 million euros in French deposits, exceeding its 400 million euro annual goal.