Author: Automotive News Feed

BMW’s assembly plant in the United States canceled a shift today because of severe weather. A winter storm warning is in effect until Thursday evening for the area, with snow and ice potentially causing power outages and treacherous roadways.

PSA/Peugeot-Citroen has reached an outline deal with Dongfeng and the French government to raise up to 4 billion euros in fresh capital and deepen cooperation with the Chinese carmaker, sources said.

Some FandI administrators have said they’re concerned that the Consumer Financial Protection Bureau could go after FandI products this year the way it has campaigned against dealership’s discretion in setting customer interest rates on auto loans.

The notion of capping dealer reserve and documenting exceptions as a way for auto dealers and lenders to avoid possible allegations of discrimination is gaining industry acceptance.

Group 1 Automotive’s U.S. operations set a record with average FandI revenue per vehicle retailed of $1,418 in the fourth quarter, an increase of 9 percent from the same period a year ago.

Recent news that Chase Auto Finance and TD Auto Finance are looking to trim their dealership networks brought swift reactions of ‘Here we go again’ from some members of the dealership FandI community.