Volkswagen’s Initial Diesel Payout to Exceed $15 Billion

Volkswagen’s Initial Diesel Payout to Exceed $15 Billion

(UPDATED June 30 with dealer information)  June 28, 2016 — Volkswagen is expected to announce settlements with U.S. regulatory agencies and 475,000 customers for lying about its diesel emissions today that could exceed $15 billion. According to numerous media reports, the deal only affects the 475,000 customers that purchased 2009 – 2015 2.0 liter diesel Volkswagen…

This content is for subscribers only.
Log In Subscribe
Cliff Banks - The Banks Report

NY Court Rules GM’s Sales Formula Not Legal

May 10, 2016 –In an intriguing decision last week, the New York’s Court of Appeals determined in a 5 – 1 decision that General Motors’ use of its Retail Sales Index to evaluate its dealers’ sales performance violates state law. The ruling could force manufacturers to change how they measure their dealers’ retail performance. GM used the RSI In 2011 in… Continue Reading

Cliff Banks - The Banks Report

Napleton Files 3rd Lawsuit — This One Against Volkswagen

April 10, 2016 — On Wednesday, Ed Napleton, owner of one of the largest dealer groups in the country, filed a lawsuit against Volkswagen alleging the automaker engaged in criminal racketeering. Napleton owns three Volkswagen dealerships acquiring the Urbana, IL store three days before the diesel emissions scandal exploded in September. Napleton also claims the manufacturer… Continue Reading

Tesla Wins Reprieve in Indiana

Tesla Wins Reprieve in Indiana

February 26, 2016 — Tesla has won its latest battle fighting state franchise law designed to keep it from selling vehicles to consumers. at least for a few months. The Indiana Senate Commerce and Technology Committee decided yesterday to send a controversial bill banning manufacturer-direct automotive sales to customers to an interim study committee later this year. House… Continue Reading

Westlake Financial Prevails in Patent Dispute with Credit Acceptance Corp.

Westlake Financial Prevails in Patent Dispute with Credit Acceptance Corp.

January 28, 2016 — The nearly three-year patent dispute between Westlake Financial and the Credit Acceptance Corporation is finally over. And the news wasn’t good for CAC as the Patent Trial and Review Board ruled this week that several claims it makes regarding the disputed patent fall under the Cover Business Method (CBM) classification, essentially…

This content is for subscribers only.
Log In Subscribe
CDK & Cox Sign Integration Agreement

CDK & Cox Sign Integration Agreement

January 15, 2016 — Following several months of negotiations, Cox Automotive and CDK Global finally signed an agreement today securing Cox’s participation in CDK’s Third-Party Access (3PA) Program. The agreementt should eliminate any uncertainty in the market about whether Cox’s solutions would be able to integrate with CDK’s dealer management systems (DMS). The agreement also standardizes… Continue Reading

Cliff Banks - The Banks Report

Fiat Chrysler Says Dealer Allegations Are Baseless

January 15, 2016 — Fiat Chrysler Automobiles came out fighting late yesterday in a strongly worded release rejecting the allegations of falsifying sales made in a civil lawsuit filed this week by dealer Ed Napleton. In the statement, FCA called the lawsuit “nothing more than the product of two disgruntled dealers who have failed to perform… Continue Reading