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Nearly 1,000 dealers use General Motors’ Digital Retail Platform, which is designed to create a consistent shopping experience and reduce some of the cost required to sell vehicles.

New York State Common Retirement Fund agreed to pay as much as $350 million for Vista Equity Partners fund stakes tied to late billionaire Robert Brockman, an original investor in the private equity firm, according to people familiar with the matter.

The pension fund for New York state workers is buying part of the $1.46 billion portfolio held by Point Investments, while Ardian SAS is considering buying a stake that could be worth hundreds of millions of dollars, said the people, who asked not to be identified discussing a private transaction. The pension has previously committed $5 billion to Vista funds, and it would pay a 35 percent discount to the value of the Point stake, the people said. 

Prosecutors alleged Brockman controlled Point, a Bermuda-based entity, and used it to engage in the largest tax-evasion scheme by an individual in US history. Brockman, who died in 2022 before going to trial, denied wrongdoing and said he didn’t control Point. Months before his death, Point filed for bankruptcy in Delaware, and it’s now liquidating assets, court filings show.  read more

General Motors is recalling 449,671 pickup trucks and SUVs in the U.S. due to inoperative low brake fluid warning, the U.S. National Highway Traffic Safety Administration said on Friday.

Experts say reaching a deal could be tricky for Volkswagen and the UAW because the two sides are starting fresh.

The Federal Reserve cut its benchmark rate target 0.5 percentage points on Sept. 18, which could reduce the market interest rates that Cox Automotive polling indicates are dealerships’ No. 1 challenge.