Government

JIM HENRY

Did dealers hurt themselves with the carve out?

12:01 am U.S. ET | Aug. 20, 2014
There’s no mistaking that federal regulators are serious about policing auto lenders. By extension, auto dealers feel they’ve got a big target on their backs, too.... Read More »

 

CFPB fines subprime lender First Investors for sending credit bureaus inaccurate info

12:30 pm U.S. ET | Aug. 20, 2014
The Consumer Financial Protection Bureau fined subprime auto lender First Investors Financial Services Group nearly $3 million for knowingly providing inaccurate information to credit reporting agencies for at least three years.... Read More »

 

Uber hires former Obama adviser Plouffe to counter opponents

12:19 am U.S. ET | Aug. 20, 2014
Uber Technologies, the popular mobile car-booking app, hired David Plouffe, a former top political adviser to President Obama, to help it cope with regulatory hurdles and mounting opposition from cabbies around the globe.... Read More »

 

Auto loans could get boost from revamped FICO scores

12:01 am U.S. ET | Aug. 20, 2014
A planned update in the way FICO scores are calculated should help some borrowers qualify more easily for auto loans by putting less weight on overdue medical debt when calculating credit scores, according to Fair Isaac Corp.... Read More »

 

EU regulators seek to close car emissions testing loopholes

Aug. 20, 2014 13:30 CET
EU regulators are pushing for legislation that will require vehicles to be tested on roads rather than in laboratories in a bid to close loopholes that allow carmakers to exaggerate fuel-saving and emissions credentials.... Read More »

 

Subprime auto loan growth is 'less pronounced' in context, Fed analysts say

12:01 am U.S. ET | Aug. 20, 2014
While auto lending is rising in all credit categories, subprime auto loans are growing the fastest because that segment dropped the most during the downturn, according to a study by four analysts from the Federal Reserve Bank of New York.... Read More »

 

China levies record $200 million fine on Japan suppliers

Aug. 20, 2014 12:11 CET
China has fined 12 Japanese suppliers a record 1.24 billion yuan ($200 million) for alleged price fixing amid one of the broadest investigations since the nation's antitrust law came into effect six years ago.... Read More »

 

HANS GREIMEL

Why Korea could be next to crack down on foreign brand pricing

12:01 am U.S. ET | Aug. 20, 2014
Could China's crackdown on perceived price gouging by foreign automakers trigger a domino effect next door in South Korea, where sale of overseas brands are heating up?... Read More »

 

NHTSA launches VIN tool to search for recalls

12:01 am U.S. ET | Aug. 20, 2014
Car buyers and owners can use a vehicle's identification number to identify open or unrepaired safety recalls with a new search tool released by NHTSA starting today. Consumers enter a VIN to find out whether the vehicle has any open, unrepaired recalls and whether the automaker has a fix available.... Read More »

 

2 Japanese suppliers fined in China's antitrust crackdown

6:23 am U.S. ET | Aug. 19, 2014
China's antitrust regulator fined Japanese bearing makers NSK Ltd. and NTN Corp. a combined 4.8 billion yen ($47 million) for violating rules in a probe into industry pricing practices.... Read More »

 

Japan's NGK pleads guilty, to pay $52.1 million U.S. fine for price fixing

5:10 pm U.S. ET | Aug. 19, 2014
Japanese supplier NGK Spark Plug agreed to plead guilty and pay a $52 million criminal fine over its role in a conspiracy to fix prices and rig bids for spark plugs and other automotive parts, the Department of Justice said.... Read More »

 

THE GM RECALL

GM expands website for owners of recalled vehicles

12:18 pm U.S. ET | Aug. 19, 2014
General Motors' website for owners of its vehicles recalled for faulty ignition switches has been expanded to include all 20 models involved, the automaker said.... Read More »

 

HANS GREIMEL

Why Korea could be next to crack down on foreign brand pricing

8:55 am U.S. ET | Aug. 19, 2014
Could China's crackdown on perceived price gouging by foreign automakers trigger a domino effect next door in South Korea, where sale of overseas brands are heating up?... Read More »

 

Dutch car sales likely to fall to 45-year low, industry group says

Aug. 19, 2014 13:36 CET
Dutch car sales will likely fall to their lowest level since 1969 this year as sluggish economic recovery and weak consumer confidence hit demand, automotive industry consultancy group Aumacon says.... Read More »

 

U.S. details plans for car-to-car safety communications

3:08 pm U.S. ET | Aug. 18, 2014
After more than a decade of research into car-to-car communications, federal auto safety regulators took a step forward today by unveiling their plan for requiring cars to have wireless gear that will enable them to warn drivers of danger.... Read More »

 

China finds Mercedes guilty of price fixing, report says

Aug. 18, 2014 10:53 CET
Mercedes has been found guilty of manipulating prices for aftersales services in China, the official Xinhua news agency reported. Foreign automakers have been under scrutiny in China amid reports by state media that they are overcharging consumers.... Read More »

 

Russia may ban car imports if West applies new sanctions, report says

Aug. 18, 2014 11:54 CET
Russia may ban car imports if the West applies additional sanctions on Moscow over its involvement in Ukraine, a daily newspaper reported.... Read More »

 

China needs Europe-like open competition, Volvo Chairman says

Aug. 18, 2014 13:46 CET
Volvo Chairman Li Shufu says China should stop trying to hinder competition in the world's largest automaker. "It's best if it's completely open, like in the U.S. and Europe; whoever wants to produce cars can do it," Li said.... Read More »

 

Self-driving tech will make Volvos even safer, r&d boss says

12:01 am U.S. ET | Aug. 17, 2014
As self-driving cars become increasingly important, Volvo has unveiled an ambitious plan to position itself at the forefront of this cutting-edge technology.... Read More »

 

Aston Martin's U.S. stores at risk due to new crash rule, dealer says

Aug. 15, 2014 10:45 CET
Aston Martin stores in the United States will become unprofitable and could be forced to close if the sports-car maker cannot get an exemption for two of its models from tougher new crash standards, a top dealer said.... Read More »

 

Daimler to recall 50,000 Smarts in China

Aug. 15, 2014 12:33 CET
Daimler is recalling about 50,000 Smart ForTwos in China. Authorities identified that vibrations can cause the V-belt, an engine component that drives the cooling fan and the alternator, to tear.... Read More »

 

THE GM RECALL

U.S. judge appoints lead counsel for GM ignition-switch cases

7:06 pm U.S. ET | Aug. 15, 2014
A federal judge has appointed two lawyers who led cases against Toyota, and a plaintiffs' attorney from Texas, to lead litigation against General Motors related to a faulty ignition switch that prompted the recall of millions of vehicles this year.... Read More »

 

Ford recalls 2013 Escape for 11th time, this time for wiring problem

3:43 pm U.S. ET | Aug. 15, 2014
Ford has issued its 11th recall on the 2013 Escape crossover, this time because a wiring problem could cause the engine to hesitate or stall. The recall covers 159,395 Escapes and Focus ST hatchbacks from the 2013 and 2014 model years with turbocharged 2.0-liter engines in North America.... Read More »

 

U.S. Treasury to cut Ally stake

10:56 am U.S. ET | Aug. 14, 2014
The Treasury Department plans to cut its stake in Ally Financial by selling stock on the open market in its first divestiture since the company's initial public offering in April.... Read More »

 

China's Brilliance mulls Italy car plant, prime minister says

Aug. 14, 2014 22:13 CET
Italian Prime Minister Matteo Renzi said that Chinese carmaker Brilliance China Automotive had expressed an interest in opening a plant in Italy. Renzi is trying to encourage foreign investment in Italy, which has fallen back into recession.... Read More »

 

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