Senators introduce bipartisan bill directing FTC to redo auto dealership regs
A new bill from Sens. Jerry Moran, R-Kan., and Joe Manchin, D-W.Va., would direct the FTC to "redo" the proposal by requiring the agency to issue an advanced notice of proposed rule-making for public input — a regulatory step the lawmakers say was.....»»
Lithia net income down 28% in Q2 despite record revenue of $9.2B
Lithia Motors Inc. Q2 2024 earnings: Net income fell 28 percent during the second quarter despite the car dealership group generating record revenue for that earnings period......»»
Auto suppliers continue to face worker shortage and high costs
The Federal Reserve indicated labor supply and demand are in sync in the U.S. economy for the first time in years. But suppliers are still lagging behind......»»
Credit Acceptance posts Q2 net loss of $47.1 million as auto lender revamps cash flow forecasting
The average Credit Acceptance second-quarter auto loan financed $26,816 in principal and interest, paid the dealership a $12,278 advance and was slated to run for 61 months......»»
Pyramid optical networks for unidirectional image magnification and demagnification
In Light: Science & Applications journal UCLA researchers introduce an innovative design for diffractive deep neural networks (D2NNs). This new architecture, termed Pyramid-D2NN (P-D2NN), achieves unidirectional image magnification and demagnificatio.....»»
CarShield, American Auto Shield to pay $10M in settlement on false advertising claims
The FTC said the companies' celebrity endorsers made false statements in ads and/or have not used the service contract products. Contracts also do not cover all repairs as stated in the ads, the FTC said......»»
Penske Automotive Q2 net income falls 20% on higher interest costs
Penske Automotive Group net income dropped in the second quarter, though the auto retailer posted record second-quarter revenue of $7.7 billion......»»
Owner of Nashville auto business indicted on felony tax evasion and theft
Owner of Nashville auto business indicted on felony tax evasion and theft.....»»
Kids Online Safety Act passes Senate despite concerns it will harm kids
KOSA risks “nearly limitless content regulation,” senator warns. Enlarge (credit: Westend61 | Westend61) The Kids Online Safety Act (KOSA) easily passed the Senate today despite critics' concerns that the bill may ri.....»»
Asbury: Tekion DMS pilot in Ga. might get pushed to October over CDK dispute
Asbury Automotive Inc.'s dispute with CDK Global over data access might delay the national dealership group's plans to test Tekion at four Georgia dealerships by a month, Asbury told a Georgia court last month......»»
BYD preparing to enter Canadian EV market, documents show
Joe McCabe, CEO of AutoForecast Solutions, said the U.S. auto market is BYD’s “holy grail,” but the company is likely to use both Canada and Mexico as “ports of entry.” .....»»
Stellantis sues dealership to avoid spending $180 million to buy back fleet vehicles
Stellantis has taken a North Carolina dealership to court to avoid having to repurchase several thousand unsold fleet vehicles at a cost of about $180 million......»»
It Looks like Xiaomi’s SU7 is Selling Well
Xiaomi nears its ambitious year-end goal. The post It Looks like Xiaomi’s SU7 is Selling Well appeared first on Phandroid. Following its debut into the EV market a while back, smartphone (and now auto) manufacturer Xiaomi stated that.....»»
Former dealer Joe Maus returns to auto retail with Chevrolet store
Former auto dealer Joe Maus purchased a Chevrolet dealership in South Carolina, his first acquisition after selling his stake in other stores the past few years......»»
Are you a workaholic? Here’s how to spot the signs
Psychologists now view an out-of-control compulsion to work as an addiction. Enlarge (credit: Bill Varie/Getty Images) An accountant who fills out spreadsheets at the beach, a dog groomer who always has time for one more.....»»
How one car dealership group tackles health care insurance costs
A Carter Myers self-insured plan allows it to manage costs and potentially give leftover money back to help employees cover premiums......»»
Employee charged with stealing more than $50,000 from New York CDJR dealership
A Victory Chrysler-Dodge-Jeep-Ram employee in Rome, NY., allegedly stole more than $50,000 from the dealership and was charged with second-degree grand larceny and first-degree falsifying business records......»»
Hyundai dealership customer sues CDK over cyberattacks
A Hyundai dealership lease customer on July 22 joined other consumers who have sued CDK Global, alleging their data was put at risk by the June 19 cyberattacks suffered by the dealership management system provider. Ronaldo Proto of Connecticut filed.....»»
Grand Theft Auto 6 is unaffected by the video game voice actors strike
A lot of games could be affected by the SAG-AFTRA video game actors strike, but Grand Theft Auto 6 isn't one of them......»»
Curbee launches software platform to streamline dealership mobile service
Curbee has launched a software-service platform designed to help dealerships streamline and enhance their mobile services for technicians and customers, thereby improving customer loyalty, profitability, and the overall service experience......»»
Threat of slimmer used-car profits, supply allows for little slack in 2024, dealers say
Franchised dealership and auto retail group leaders spoke with Automotive News in June and July about used-car market certainties and uncertainties in 2024......»»