Government

NADA calls on CFPB to accept dealer group’s anti-discrimination approach

11:00 am U.S. ET | Sept. 18, 2014
The National Automobile Dealers Association called on the Consumer Financial Protection Bureau to recognize NADA’s Fair Credit Compliance Policy & Program as a valid way to avoid discrimination, at a CFPB hearing today in Indianapolis into auto-lending practices.... Read More »

 

GM recalling natural gas-powered vans due to possible leak

10:40 am U.S. ET | Sept. 18, 2014
General Motors will recall about 3,200 vans powered by natural gas because of the possibility of a gas leak that increases the risk of a fire, the automaker said today.... Read More »

 

CFPB finds discrimination in auto lending at banks, looks to oversee captives

5:45 pm U.S. ET | Sept. 17, 2014
The nation's consumer finance regulator found discrimination against minority borrowers at several unnamed banks tied to dealer discretion in setting dealer reserve, the share of the customer's interest rate that dealerships earn for negotiating a finance contract. The CFPB also released the first details of a proposed new rule that would officially extend its jurisdiction to nonbank auto lenders.... Read More »

 

CFPB to shed light on identifying protected classes

12:01 am U.S. ET | Sept. 17, 2014
The Consumer Financial Protection Bureau is due to issue a white paper soon -- perhaps even this week -- that spells out in greater detail exactly how the bureau determines which consumers belong to legally protected classes of borrowers -- technical details that can ultimately have a big impact on dealers' business.... Read More »

 

Tesla argues New Jersey regulators can't stop direct sales

2:06 pm U.S. ET | Sept. 17, 2014
Tesla Motors, in a court filing submitted Tuesday, argued that New Jersey regulators have no authority to shut down direct sales at the electric-vehicle maker's stores in the state.... Read More »

 

F&I panel: 'We can police ourselves'

12:01 am U.S. ET | Sept. 17, 2014
F&I administrators and dealerships should put price ceilings on F&I products to protect themselves from overregulation, a group of executives from F&I providers suggested at a recent industry conference.... Read More »

 

Audi claims first California autonomous driving permit

11:35 am U.S. ET | Sept. 17, 2014
Volkswagen's Audi unit is the first automaker to receive an autonomous driving permit in California, as new laws in the state governing the process went into effect on Tuesday.... Read More »

 

THE GM RECALL

NHTSA chief, before blistering Senate panel, admits 'we need to improve'

5:39 pm U.S. ET | Sept. 16, 2014
The head of the National Highway Traffic Safety Administration today insisted that his agency lacked enough information to force a recall of faulty General Motors ignition switches before this year, but under heavy criticism from members of a Senate subcommittee he admitted that regulators could have done better.... Read More »

 

THE GM RECALL

NHTSA boss says GM made 'incredibly poor decisions' on recalls

7:52 am U.S. ET | Sept. 16, 2014
The top U.S. auto safety regulator harshly criticized GM for not promptly reporting and recalling cars now linked to at least 19 deaths and said he has been meeting with top global automakers to develop a "new normal" for safety recalls.... Read More »

 

THE GM RECALL

House report, citing 'critical mistakes,' blasts NHTSA

11:41 am U.S. ET | Sept. 16, 2014
Federal auto safety regulators failed to detect GM's defective ignition switches despite having “ample information” about the problem as early as 2007, according to a House committee investigation into the GM recalls and NHTSA released today.... Read More »

 

Captives likely to get CFPB oversight

4:35 pm U.S. ET | Sept. 16, 2014
The Consumer Financial Protection Bureau is expected to issue an important new rule on Thursday defining which nonbank lenders -- including captive finance companies -- will be considered “larger participants” and thus subject to CFPB regulation.... Read More »

 

Feinberg team approves 19 death claims in GM ignition switch case

11:15 am U.S. ET | Sept. 15, 2014
The independent lawyer overseeing GM's program to compensate victims of accidents that involved defective ignition switches has approved claims for 19 deaths, at least six more fatalities than GM has officially linked to the faulty part. The approved claims are now awaiting a decision on payment amounts.... Read More »

 

EU asks WTO to rule on dispute with Russia over van exports

Sept. 15, 2014 16:15 CET
The EU wants the World Trade Organization to rule on its dispute with Russia after Moscow imposed tariffs on vans imported from Germany and Italy. The EU said Russia is illegally protecting its own producers.... Read More »

 

Tesla prevails in top Mass. court over direct sales

5:52 pm U.S. ET | Sept. 15, 2014
Massachusetts' highest court on Monday threw out a lawsuit seeking to block Tesla from selling its luxury electric cars directly to consumers in the state, enabling it to bypass traditional dealerships.... Read More »

 

U.S. Treasury chief warns China on antitrust probes of foreign companies

2:32 pm U.S. ET | Sept. 15, 2014
Treasury Secretary Jack Lew warned the Chinese government that a recent spate of antitrust investigations against foreign automakers and other companies could have serious implications for U.S.-China relations.... Read More »

 

END OF FENDER BENDERS

Experts see a world free of crashes, not drivers

12:01 am U.S. ET | Sept. 15, 2014
A parade of new mainstream models equipped with advanced safety technologies that take control of the vehicle in certain instances will soon be in showrooms. But the goal of a car that makes its own way, sans driver, remains distant and uncertain.... Read More »

 

Pay attention! It's your turn to drive now

12:01 am U.S. ET | Sept. 15, 2014
In conjunction with the Intelligent Transport Systems World Congress, Toyota unveiled Automated Highway Driving Assist, a technology that allows the central computer to guide the car at highway speeds.... Read More »

 

Hearing to focus on NHTSA reform, safety laws

12:01 am U.S. ET | Sept. 15, 2014
In his last appearance before Sen. Claire McCaskill's consumer protection subcommittee, the head of the National Highway Traffic Safety Administration left plenty of questions about his agency's handling of the General Motors ignition switch defect unanswered.... Read More »

 

Japan exports fall despite favorable yen

12:01 am U.S. ET | Sept. 15, 2014
Japan's auto exports finally may be decoupling from the yen after decades of yo-yoing up and down with exchange rates.... Read More »

 

YANG JIAN

How one pol championed China EV sales

12:01 am U.S. ET | Sept. 15, 2014
Until recently, China's electric vehicle industry was nothing more than a hobby. This year, the industry shook off its torpor, producing 25,946 EVs and plug-in hybrids in eight months.... Read More »

 

Raising the temperature fast

How automakers, suppliers are preparing for tougher emissions rules

12:01 am U.S. ET | Sept. 14, 2014
The EPA's stricter Tier 3 emissions standards take effect in 2017. To meet the standards in the early years, automakers will adopt well-known technology to increase engine efficiency. Then the hard work starts.... Read More »

 

LINDSAY CHAPPELL

Incentives prop up sedan-heavy strategies

12:01 am U.S. ET | Sept. 13, 2014
Take a look at who's been increasing incentives lately and you will see a larger trend in vehicle strategy for the United States.... Read More »

 

U.S. Treasury trims Ally stake further

5:19 pm U.S. ET | Sept. 12, 2014
The Treasury started a second trading plan to cut its stake in Ally Financial. After completing its first plan, it now holds 66.2 million shares of Ally’s common stock, a statement said on Friday. That’s 13.8 percent of the company, down from 16 percent in August.... Read More »

 

Tesla's $1.3 billion incentive deal with Nevada includes direct sales

6:30 am U.S. ET | Sept. 12, 2014
Nevada Governor Brian Sandoval signed tax breaks worth as much as $1.3 billion and a measure allowing Tesla Motors to sell directly to state residents, the final steps to bring the world's largest lithium-ion battery factory to Reno.... Read More »

 

European chamber urges China to ease aftermarket rules

Sept. 12, 2014 14:03 CET
The European Union Chamber of Commerce in China has urged the nation's government to allow more competition for vehicle aftermarket service as it says current regulations are the "key driver" of the monopoly situation that has led to state probes within the auto industry.... Read More »

 

 
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Special Report
Defying Dad, by building on his legacy

Defying Dad, by building on his legacy

At Courtesy Auto Group in Illinois, second-generation dealers Ray and Rik Fregia have seen a 30 percent boost in sales this year, thanks largely to million-dollar overhauls at their three stores. Mon., September 15
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