The California Court of Appeal has rebuffed a proposed class-action suit accusing CarMax Auto Superstores California of violating the state's sales finance and unfair competition laws. The decision recognizes a one-year statute of limitations for claims under the state Automobile Sales Finance Act.
F&I revenue per vehicle rose at all six large publicly traded new-car dealership groups in the third quarter, climbing as much as 9 percent and hitting a record at one of the groups. F&I revenue per vehicle retailed at Group 1 Automotive, AutoNation Inc.
Nissan will launch a battery-powered version of its NV200 van aimed at private customers and fleets based in European cities. It is part of the automaker's push to offer zero- or low-emission alternatives for its entire lineup to meet the region's tougher pollution rules.
Chrysler Group CEO Sergio Marchionne today acknowledged mistakes in the way the company developed and launched the 2014 Jeep Cherokee, and vowed to never repeat them. "What we've learned is that we'll never repeat it," he said.
Boston may not have its World Series crown yet, but for now, it appears to own the word "strong." That's after GM canceled a "Silverado Strong" promotion at the World Series this week because of a conflict with the "Boston Strong" phrase that emerged since the marathon bombing in April.
A jump in profits in North America and shrinking losses in Europe propelled General Motors' third quarter results, but Asia has emerged as a potentially lingering trouble spot. Overall, GM's net income fell 53 percent from a year earlier, to $698 million, hurt by one-time expenses.
A year ago, I noted that while the Consumer Financial Protection Bureau had made some ominous noises, it had studiously avoided talking about auto loans. Dealers and lenders were worried. This year we know a lot more about how the CFPB thinks the indirect auto lending model should change.
Volkswagen posted a 20 percent increase in third-quarter operating profit as Europe’s largest automaker cut costs to compensate for a slumping market in its home region that’s pressuring manufacturers to lower car prices.