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Fitch: Some U.S. Subprime Auto Lenders Exposed to Domino Risk
Rising U.S. Subprime auto lender competition and an increase in start-ups means problems at one lender could quickly spread to others. Fitch Ratings published a report today examining why "domino" risk is higher in subprime auto lending than other asset-backed securities. In Fitch's view, the risks
Learn what the legal terms mean on FandI contracts
FandI managers must be intimately familiar with the fine print in the service contracts and other FandI products they sell. If they're not, and they have to testify in court, it could be a disaster, Dave Robertson, executive director of the Association of Finance and Insurance Professionals,
Europe auto sales rose 2% in August as region's recovery slows
European new-car registrations rose 2 percent in August in the 12th consecutive month of higher sales. However, analysts and executives pointed to a heavy reliance on government incentives in Spain and a fall in sales in Germany, France and Italy as signs that the region's recovery may be ...
Honda reveals longer, sleeker, sportier Jazz
Honda has released pictures and details of its next-generation Jazz subcompact car. The near-production prototype, which will be unveiled at the Paris auto show next month, shows a car that's sleeker and longer than the current model. Sporty touches include slim wrap-around headlamps, bolder
StoneEagle Announces Strategic Alliance with JMandA Group
Dallas, TX andndash; September 17, 2014 andndash; StoneEagle today announced that JMandA Group, one of the industry-leading providers of finance and insurance (FandI) products and robust training and compliance programs in the automotive industry, has implemented the SEcureMetrics FandI and sales
2014 Eurostar winner Luca de Meo
The executives chosen as 2014 Automotive News Europe Eurostars outworked and outmaneuvered their rivals. Luca de Meo, Audi's sales boss, is this year's Eurostar winner for Sales and Marketing Executive.andnbsp;For his full profile please click here . The 14 Eurostars, who were chosen by the editors
Steelmaker says it can put pickups on a diet
CALVERT, Ala. -- ArcelorMittal has a message for automakers scrambling to hit tougher fuel economy targets that come into effect in 2025: You don't have to make trucks out of aluminum to do it. The steel giant this week released the results of a design study in which the company was able to slash
Kelley Blue Book Names LightStream Exclusive Online Lender
IRVINE, Calif. and ATLANTA, Sept. 15, 2014 /PRNewswire/ -- LightStream, a national online consumer lending division of SunTrust Bank STI, +0.41% is the exclusive online lender for KBB.com, announces Kelley Blue Book (www.kbb.com), the only vehicle valuation and information source trusted and relied
Premium automakers push into profitable niche segments in H1
Premium automakers are progressively pushing volume rivals out of profit-rich niches such as coupes and convertibles. In the first half, 67 percent of all coupes sold in Europe were from premium brands, that's up from 55 percent in 2013. Premium automakers also outsold volume brands by about 7,000
6 Ways to Ruin Your Credibility
Webinar Summary An FandI manager has to build rapport and trust with the customer. Do any of these, and you'll flush that trust right down the drain. Join this session to learn: - Which words or phrases can torpedo a deal - How FandI managers too often alienate buyers - In sum, what NOT to do
defi SOLUTIONS Auto Lending Clients Now Leveraging Equifax for Income and Employment Verifications
ATLANTA, Sep 15, 2014 (GLOBE NEWSWIRE via COMTEX) -- Equifax Inc. EFX, -0.24% a global information solutions company, today announced that defi SOLUTIONS is now offering its automotive lender clients access to income and employment verifications through The Work Numberandreg; using defi SOLUTIONS'
EVs, small SUVs are winners in first half
The European car market underwent a big shake-up in the first half as there was a change at the top of nine of the 24 segments tracked by Automotive News Europe . First-half sales of the Renault Captur small crossover quadrupled to 87,396 units, helping the French automaker overtake the Nissan Juke
ZF says TRW takeover creates supplier ready for self-driving age
ZF Friedrichshafen agreed to buy U.S.-based TRW Automotive for $13.5 billion including debt, creating a major global supplier ready for an age of self-driving cars. The all-cash transaction will create a player with combined annual sales of more than $40 billion, more than doubling ZF's sales in ...
Toyota FT-1 gets the souped-up 'Gran Turismo' treatment for video game
Toyota has joined the "Gran Turismo" parade of video game racers with a beefier version of its FT-1 concept. "The design brief of this car was very simple: Take the FT-1 concept car and turn it into the most kickass, badass, super racecar you can imagine," said Kevin Hunter, president of Toyota's
GM adding 3rd shift to Chevy Colorado, GMC Canyon plant in Missouri
DETROIT -- General Motors will add a third production shift at its Wentzville, Mo., assembly plant, where its new midsize pickups and commercial vans are made. GM last week started production of the redesigned 2015 Chevrolet Colorado and GMC Canyon, after a two-year hiatus for the trucks. GM moved
A Strike Against 'Two-Tier' (9/16/14)
Lear-UAW deal may foreshadow fate of pay plan; Report cites NHTSA's 'tragic' failure in GM case; Opel hits reset in Russia.
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Penske expands engines, power business in Australia, Pacific
Penske Automotive Group Inc. today said it is buying a company that distributes diesel and gasoline engines and power systems in Australia, New Zealand and the Pacific markets. Penske will buy MTU Detroit Diesel Australia, which distributes engines and power systems to trucking, mining, ...
House report, citing 'critical mistakes,' blasts NHTSA
WASHINGTON -- Federal auto safety regulators failed to detect General Motors' 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 the National Highway Traffic Safety Administration ...
Bosch benefits as new ZF-TRW combo enters driverless car fray
FRANKFURT (Bloomberg) -- Robert Bosch GmbH gained full control over key automotive technology, positioning the world's biggest parts supplier as an unexpected beneficiary of ZF Friedrichshafen AG's leap into the No. 2 position. Closely held Bosch will acquire ZF's 50 percent stake in a joint ...
Mahindra said to be in talks to buy PSA's scooter unit
MUMBAI (Bloomberg) -- Mahindra and Mahindra Ltd., India's largest maker of tractors and SUVs, is in advanced talks to buy PSA/Peugeot-Citroen's scooter business, according to three people familiar with the matter. An announcement may be made soon, two of the people said, declining to be identified
Bosch benefits from ZF's bid to buy TRW
FRANKFURT (Bloomberg) -- Robert Bosch is an unexpected beneficiary of ZF Friedrichshafen's plans to purchase TRW Automotive. Bosch, the world's largest auto parts supplier, on Monday said it planned to gain full control over the steering joint venture it co-founded with ZF in 1999. The JV makes ...
Banco Santander acquires Canada's Carfinco for $269 million
TORONTO (Bloomberg) -- Banco Santander SA, Spain's biggest bank, agreed to buy Canadian car-financing company Carfinco Financial Group Inc. for about $269 million. The Spanish bank will own about 95 percent of the new company that will be formed after the transaction is completed. Carfinco ...
Toyota pauses on Mexico expansion to review growth strategy, report says
BEIJING/NAGOYA (Reuters) -- Toyota Motor Corp. is reconsidering a move to open a new compact car assembly plant in Mexico after company President Akio Toyoda told planners searching for a site to pause and review its rationale, executives familiar with the matter told Reuters. According to four
NHTSA boss says GM made 'incredibly poor decisions' on recalls
WASHINGTON -- The top U.S. auto safety regulator harshly criticized General Motors 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. In his most pointed comments to ...