Volkswagen AG confirmed late Friday it will make $1.21 billion in payments to 652 U.S. brand dealers as part of its $16.5 billion diesel emissions settlement to date. VW's dealers will receive an average of $1.85 million each on average over 18 months under the settlement.
The Federal Trade Commission today charged Sage Auto Group with using deceptive and unfair sales and financing tactics, including so-called “yo-yo” financing.
U.S. new-vehicle sales are projected to decline for a second consecutive month, even as incentive spending reaches a record high. The forecasts reinforce the notion that industry sales have leveled off after six consecutive years of gains coming out of the recession.
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