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Indian carmakers end fiscal 2024 at record levels as March sales rise

Maruti Suzuki, Tata Motors and Mahindra & Mahindra reported higher car sales in March, wrapping up fiscal 2024 at record levels, showed data from automakers.

India , Maruti-suzuki , Tata-motors , Mahindra , Economic-growth , Economic-outlook , Consumer-confidence , Consumerism , Automobile-design , Automobile-renting-and-leasing , Automobile-parts-retailers , Automobile-dealing

$7,500 EV tax credit may be easier — and harder — to get in 2024

New rules will make it easier for many households to claim the tax break for new electric vehicles, but will also restrict the cars that qualify.

Inflation-reduction-act , Automobile-dealing , Climate-change , Environment-and-nature , Electric-vehicles , Autos , Government-taxation-and-revenue , Personal-finance , Social-issues , China , North-korea

Toyota's Daihatsu to halt vehicle shipments as safety scandal widens

The latest revelations suggest that the scope of the scandal is now far greater and could potentially tarnish the automakers' reputation for quality and safety.

Japan , Toyota , Toyota-motor , Technology , Shipping , Retail-sales , Sales , Automobile-dealing , Automobile-manufacturing , Automobile-safety , Consumer-safety

Subaru buyers caught in right-to-repair fight over its cars

Driving a rugged Subaru through snowy weather is a rite of passage for some New Englanders, whose region is a top market for the Japanese automaker

Burlington , Massachusetts , United-states , Boston , Illinois , Japan , Watertown , Japanese , Dominick-infante , Bobby-rush , Steve-lewis-subaru , Brian-hohmann

Landmark Point Predictive Fraud Study Details Record Year for Auto Loan Fraud in 2020

Press release content from Business Wire. The AP news staff was not involved in its creation.
Landmark Point Predictive Fraud Study Details Record Year for Auto Loan Fraud in 2020
April 15, 2021 GMT
US Auto Loan Fraud Reaches $7.3 Billion in 2020 (Graphic: Business Wire)
SAN DIEGO--(BUSINESS WIRE)--Apr 15, 2021--
Point Predictive Inc., the San Diego-based artificial intelligence and data science company that helps lenders predict the trustworthiness of loan application information, published research detailing increased levels of attempted loan fraud in 2020, which the company believes could continue through 2021.
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US Auto Loan Fraud Reaches $7.3 Billion in 2020 (Graphic: Business Wire)
The company’s Auto Fraud Report is the auto finance industry’s most comprehensive annual assessment of application fraud risk. The 2020 edition includes unique insights about income and employment misrepresentation, identity fraud, and collateral fraud for US auto lenders, as well as the impacts of the pandemic on this important sector of the economy.

California , United-states , San-diego , Frank-mckenna , Steve-christensen , Dennis-behrman , Point-predictive-inc , Acceptance-corp , Predictive-inc , San-diego-based , Loan-fraud-reaches , Business-wire

TechForce Foundation Offering John Weinberger Driven to Care Legacy Scholarships to Benefit Students Pursuing Automotive Careers

Press release content from Business Wire. The AP news staff was not involved in its creation.
TechForce Foundation Offering John Weinberger Driven to Care Legacy Scholarships to Benefit Students Pursuing Automotive Careers
April 1, 2021 GMT
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Apr 1, 2021--
The family of renowned automotive enthusiast, racer, and entrepreneur John Weinberger has teamed with TechForce Foundation to offer a series of scholarships to benefit students who aspire to follow in his footsteps. Application deadline is April 30, 2021.
The John Weinberger Driven to Care Legacy Scholarships support students with awards of up to $10,000 across a broad spectrum of automotive career disciplines: Automotive Engineering; Vintage Automotive Restoration; Automotive Dealership Management, Marketing and Communications; and Automotive Technician. Students who meet the following criteria are eligible for awards:

Illinois , United-states , Naperville , Texas , University-of-illinois , Chicago , America , American , John-weinberger , Johnf-weinberger , Mike-pressendo , Instagram

IAA Expands Hixon Branch in the UK

Press release content from Business Wire. The AP news staff was not involved in its creation.
IAA Expands Hixon Branch in the UK
April 1, 2021 GMT
ESSEX, England--(BUSINESS WIRE)--Apr 1, 2021--
IAA, Inc. (NYSE: IAA), a leading global digital marketplace connecting vehicle buyers and sellers, announces that its UK-based business unit has expanded its IAA Hixon branch. This investment increases the branch’s inventory space by more than 30%, accommodating strong customer demand and inventory needs in the midlands.
“The expansion of the IAA Hixon branch supports our broader strategic growth initiatives in the UK,” said Steve Hankins, UK Managing Director for IAA. “The additional capacity will create significant operating efficiencies and drive a reduction in transportation costs, all while providing a best-in-class experience for buyer and seller customers.”

Illinois , United-states , Westchester , Canada , United-kingdom , Chicago , Essex , Steve-hankins , Caitlin-churchill , Instagram , Linkedin , Arif-ahmed-iaa-inc

Camping World Expands Operations in Southern Utah and Acquires Nielson RV

Press release content from Accesswire. The AP news staff was not involved in its creation.
Camping World Expands Operations in Southern Utah and Acquires Nielson RV
March 10, 2021 GMT
ST. GEORGE, UT / ACCESSWIRE / March 10, 2021 / Scott Nielson, mainly known for his business, Nielson RV, sold his company with all its assets, inventory, land, and improvements to Camping World (NYSE:CWH), the largest RV retailer and publicly traded RV company in the nation. Marcus Lamonis, CEO of Camping World Holdings INC, announced its latest purchase and addition to the Camping World chain.
Lamonis is also featured on his reality show The Profit and has made his mark in St. George with the acquisition of Nielson RV, which profoundly dominated the RV space in the region. Nielson RV grew to three stores before Nielson moved his family out of state. The company had future plans to expand into Salt Lake City and Las Vegas before the CWH acquisition.

Australia , Salt-lake-city , Utah , United-states , New-zealand , Ocala , Florida , Washington , Canada , Russia , American , Scott-nielson

HGGC Sells Automotive Service Technology Leader Dealer-FX to Snap-on

Press release content from PR Newswire. The AP news staff was not involved in its creation.
HGGC Sells Automotive Service Technology Leader Dealer-FX to Snap-on
March 8, 2021 GMT
(PRNewsfoto/HGGC)
PALO ALTO, Calif., March 8, 2021 /PRNewswire/ -- HGGC, a leading middle-market private equity firm, today announced it has sold Dealer-FX (or “The Company”), a market-leading provider of customer experience and process automation software for automotive retailers and OEMs, to Snap-on Incorporated, an S&P 500 company and global innovator, manufacturer and marketer of tools, equipment, diagnostics and information solutions for professionals in automotive repair and other critical industries.
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Since its investment in 2015, HGGC has partnered with Dealer-FX Founder and Chairman Gary Kalk to build the category-defining, SaaS-enabled service lane technology platform endorsed by leading OEMs—including Stellantis/FCA, Nissan, Infiniti, Toyota, Lexus, Hyundai, Kia, Mitsubishi and General Motors. During this time, Dealer-FX significantly scaled its signature One Platform and continues to lead the industry in innovation.

Puerto-rico , Kenosha , Wisconsin , United-states , Canada , Toronto , Ontario , Steve-young , Dan-stanko , Gary-kalk , Nissan , Infiniti

The Presidio Group Advises on the Sale of Fink Automotive Group

Press release content from Business Wire. The AP news staff was not involved in its creation.
The Presidio Group Advises on the Sale of Fink Automotive Group
March 2, 2021 GMT
TAMPA, Fla.--(BUSINESS WIRE)--Mar 2, 2021--
The Presidio Group LLC (“Presidio”), a leading investment bank specializing in retail automotive and related M&A transactions, exclusively advised Scott Fink, President of Fink Automotive Group, on the sale of seven new vehicle dealership franchises in the greater Tampa market to Lithia Motors, Inc. (“Lithia”) [NYSE: LAD].
“The buy sell market is especially strong right now and we knew that joining efforts with a larger group was the best way to ensure that our dealerships will continue to be market leaders in today’s fast-changing auto retail environment,” said Scott Fink, President of Fink Automotive Group. “Lithia has the resources to elevate our dealerships to the next level of sophistication.”

United-states , San-francisco , California , Brodie-cobb , Dave-frazier , Kathy-fink , Bryan-deboer , Scott-fink , George-karolis , Lithia-motors-inc , Lithia-motors , Presidio-group