Tariq Kamal
Former Associate Publisher
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SEARCHMENUSEARCHFormer Associate Publisher
A Bloomberg report accuses Fiat Chrysler of creating a ‘sales bank’ of up to 40,000 new vehicles, reviving an old practice that could stoke tension among dealers and investors.
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An attorney representing hundreds of former Chrysler franchisees in a $1 billion lawsuit against the federal government plans to file an appeal that could make its way to the U.S. Supreme Court.
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The latest report shows U.S. new car dealers are on pace for yet another 17 million-unit year, led by gains at Japanese and Korean factories, increased incentive spending, and fleet sales.
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Fiat Chrysler and PSA Group have agreed to join forces to create the world’s No. 4 automaker in a $48 billion deal designed to save the factories billions in research and development costs.
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The Federal Reserve has announced its third interest rate reduction since July, this time excluding language committing the central bank to action in support of economic expansion.
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Bloomberg reports Fiat Chrysler and PSA Group, which includes the Peugeot, Opel, and Citroen brands, could announce a merger as soon as this week, a deal that would form a General Motors-sized factory.
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The U.S. PIRG Education Fund issued a damning report after finding one in every nine used vehicles for sale at 28 AutoNation-owned locations in 12 states is subject to an open recall.
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California Gov. Gavin Newsom has signed AB 179, enacting new dealer protections against below-market warranty reimbursement rates and OEM-ordered facility upgrades. The bill also allows dealers to issue recall notices without violating new data privacy rules.
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Electrek reports Tesla CEO Elon Musk wants to open ‘Tesla Centers’ around the U.S., once again challenging rules against direct-to-consumer sales. Sources say the firm’s Electric division could provide a workaround.
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U.S. sales of new cars and light trucks fell 12% year-over-year in September, suppressed in part by a Labor Day weekend allotted to August. Few were spared the sting, with all six of America’s and Japan’s biggest factories reporting double-digit declines.
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