Safety and Regulation

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 »

 

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 »

 

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 »

 

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 »

 

Ford recalls 74,000 older Escape, Mercury Mariner hybrids

10:34 am U.S. ET | Sept. 12, 2014
Ford is recalling about 74,000 older-model Escape and Mercury Mariner crossover vehicles because the electronic hybrid system may overheat.... Read More »

 

THE GM RECALL

GM has substantially completed vehicle recalls, Barra says

9:06 am U.S. ET | Sept. 11, 2014
General Motors has “substantially completed” its vehicle recalls, CEO Mary Barra said. “We're working hard to make sure that as new vehicles come out, they achieve even higher levels” of quality and safety, Barra told reporters in New Delhi today. “We're very focused to being industry leaders.”... Read More »

 

GM issues 2 recalls, stop-sale orders for 2015 Corvettes

8:58 pm U.S. ET | Sept. 11, 2014
General Motors is issuing two more recalls, both on the 2015 Chevrolet Corvette, according to stop-delivery orders sent to dealers today. The recalls, GM's first in more than a month, bring its total number for the year to 67.... Read More »

 

Chrysler minivans receive over 100 complaints of engine stalls in U.S.

6:28 pm U.S. ET | Sept. 11, 2014
Federal auto safety regulators have received more than 100 complaints about engine stalling from owners of Chrysler minivans from model years 2004-2007, according to a Reuters analysis.... Read More »

 

Toyota recalling 130,000 Tundras for airbag issue

2:36 pm U.S. ET | Sept. 11, 2014
Toyota recalling 130,000 2014 Tundra pickup trucks in the United States to correct a problem with side airbags, the automaker's sales arm said today.... Read More »

 

Porsche recalls some 918s for rear-axle problem

Sept. 11, 2014 11:44 CET
Porsche has recalled 46 of its 918 Spyders to fix a potential defect in the plug-in hybrid supercar's rear-axle components. The automaker said no accidents or injuries were reported in relation to the problem.... Read More »

 

NHTSA will be questioned by U.S. senators about enforcement efforts

10:32 am U.S. ET | Sept. 10, 2014
A Senate subcommittee will probe the National Highway Traffic Safety Administration's ability to enforce auto and highway safety laws in a hearing next week.... Read More »

 

JIM HENRY

Regulation forecast calls for rain, former CFPB exec says

11:00 am U.S. ET | Sept. 10, 2014
Rick Hackett, a former assistant director for the Consumer Financial Protection Bureau who was the bureau's liaison to the auto finance industry, predicted the bureau would probably unveil a long-awaited rule next week, defining which nonbanks fall under the CFPB's jurisdiction.... Read More »

 

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