Martin D’Amato has been sentenced to seven years in state prison for stealing $1.3 million from the New Jersey dealership where he served as internet director. +
Ford has followed General Motors by unwinding a program intended to claim expiring $7,500 federal EV tax credits for future customers under pressure from U.S. Sen. Bernie Moreno. +
Executives say increased financing options with familiar partners will help Amazon-partnered Hyundai dealers reach more used car buyers and sell more F&I products. +
GM tells Bloomberg the factory will replace the expired $7,500 federal EV tax credit with $6,000 in “lease support” cash following unrelated reports of a similar move at Stellantis. +
Fifth Third Bancorp will acquire Comerica Inc. in an all-stock transaction valued at $10.9 billion, creating the nation’s ninth-largest bank with approximately $288 billion in assets. +
Tesla delivered 497,099 units to U.S. buyers and lessees in Q3, setting a single-quarter record as the clock ran out on the $7,500 federal EV tax credit. +
Protective Asset Protection has launched a new comprehensive program that refreshes and streamlines its Paint and Fabric product with broader coverage and new benefits. +
Edmunds’s Q3 auto finance report shows the average down payment for a new vehicle fell to $6,020 while $1,000-plus monthly payments, loan terms and interest rates remain high. +
Automotive News reports Ford and General Motors have been working with dealers to secure an unknown number of $7,500 federal tax credits for EV shoppers before they expire. +
RouteOne has adopted machine learning and optical character recognition to identify and process “not electronically originated” documents included with econtracting packages. +
