Canadian retailer Foundation Automotive enters Tennessee with purchase of four dealerships
Foundation Automotive Corp. expanded into Tennessee last week, buying three domestic dealerships and one import store.
Ally Financial sees bright side despite Q2 drop
Ally wrote $13.3 billion in auto loans and leases during the second quarter, a 2.3 percent increase from a year earlier and the highest quarterly origination value since 2006. But the lender said accounting rules required it to set aside money as a provision against these loans losing money, which contributed to its 50 percent drop in auto finance income.
VW names Scott Keogh CEO of Scout EV brand; Pablo Di Si new VW of America CEO
Scott Keogh, CEO of VW of America, will be the new CEO of the German automaker’s nascent Scout brand, effective Sept. 1. He will be replaced by Pablo Di Si, who leads VW’s operations in South America.
A quarter of consumers likely to go electric, AAA survey says
AAA said 77 percent of respondents indicated a strong desire to save on fuel costs.
Mercedes-Benz of San Diego fires 20 striking union technicians
The Penske Automotive luxury dealership said the 20 terminated workers “unlawfully condoned and encouraged blatant picket line misconduct.”