Tag: 0 car finance on used cars

Hyundai-Genesis, Toyota, Stellantis and Ford dealerships sell in Q3, Q4 dealsHyundai-Genesis, Toyota, Stellantis and Ford dealerships sell in Q3, Q4 deals

July 28, 2024July 28, 2024| 9:14 am

Joe Caso, longtime owner of Frontier Toyota in Valencia, Calif., sold his dealership to first-time owner Aman Abraham late last year. Abraham’s newly formed Addis Automotive Group in Los Angeles purchased the store Nov. 11. He is maintaining the Frontier Toyota name for the southern California store. Caso had owned the dealership since 1988. Abraham told Automotive News that after emigrating from Ethiopia at age 12, he entered the automotive retail industry in college to pay for school. Since the late 1990s, he has worked in various areas of the field, most recently for Lithia Motors as general manager [...]

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GM signs a deal with an Australian company to boost the EV supply chainGM signs a deal with an Australian company to boost the EV supply chain

July 3, 2023July 3, 2023| 8:49 am

“The E25 facility will build in Louisiana is significant because it is expected [to] be the first plant in the United States to produce battery-grade manganese sulfate, a key component of cathode active material, which helps improve EV battery cell costs.” The Louisiana site is expected to be 230,000 square feet, with work to prepare the site slated to start in the third quarter. “GM’s support does more than accelerate our expansion in the United States,” Justin Brown, Element 25’s managing director, said in a statement. “Together, we are creating a resilient and sustainable North American supply chain that will… [...]

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Exclusive: Vietnam’s Truong Hai considers stake sale in $5 billion automotive armExclusive: Vietnam’s Truong Hai considers stake sale in $5 billion automotive arm

June 29, 2023June 29, 2023| 8:30 am

SINGAPORE/HANOI, June 28 (Reuters) – Vietnamese conglomerate Truong Hai Group, founded by tycoon Tran Ba ​​Duong, is considering bringing in an investor into its automobiles arm Thaco Auto in a deal that could value the unit at around $5 billion, two people familiar with the matter said. Truong Hai Group is in talks with a financial advisor to explore the potential sale of a minority stake in Thaco Auto after receiving interests from regional financial investors and corporates, the sources said. The group could be selling about 20% in Thaco Auto, one of the sources said. Deliberations were ongoing and… [...]

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Can You Return a Car You Just Bought? Buyer’s Remorse Law and MoreCan You Return a Car You Just Bought? Buyer’s Remorse Law and More

June 21, 2023June 21, 2023| 7:51 am

Problem: “The dealership ripped me off” If the car salesperson you worked with didn’t keep promises or you suspect fraud, you might have a case. But don’t make wild, unfounded accusations. Instead, use any documentation you can find. If you think you paid way too much, reference the Edmunds Suggested Price as proof of the vehicle’s market value and an acceptable price. There are also times when people go overboard on the options they purchase in the F&I room before signing a contract. Things such as extended warranties or curbed wheel coverage can add thousands to [...]

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Mullen Automotive Inc’s shares motor ahead after completing the second EV dealMullen Automotive Inc’s shares motor ahead after completing the second EV deal

May 10, 2023May 10, 2023| 3:49 am

Mullen Automotive Inc (NASDAQ:MULN) saw its shares motor ahead on Wednesday after completing the purchase of bankrupt EV start-up Electric Last Mile Solutions (ELMS), paving the way for the company to manufacture its first electric vehicle. The California-based EV company said it had received approval from the US Bankruptcy Court on October 13 to buy ELMS in a $240 million cash transaction. The deal includes the acquisition of ELMS’ manufacturing plant in Indiana, which is capable of producing 50,000 cars per year. Mullen also acquired all intellectual property of the defunct auto company. READ: Electric vehicles stock climbs on big… [...]

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Performance Brokerage Services Advice on the Sale of Boardwalk Acura in New Jersey from Group 1 Automotive to Key Auto GroupPerformance Brokerage Services Advice on the Sale of Boardwalk Acura in New Jersey from Group 1 Automotive to Key Auto Group

April 13, 2023April 13, 2023| 8:55 am

The entire process was efficient, and they were available and responsive to deal with related issues, which are inevitable in auto retail M&A. I look forward to working with them again in the future. IRVINE, Calif. (PRWEB) [...]

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Lincoln, GM and Ford dealerships sell in deals across 4 statesLincoln, GM and Ford dealerships sell in deals across 4 states

March 22, 2023March 22, 2023| 6:20 pm

LaFontaine Automotive Group has acquired Pfeiffer Lincoln in Grand Rapids, Mich., marking the second Grand Rapids dealership for the Highland, Mich., group as it continues to expand into western Michigan. The acquisition, which closed Monday, follows LaFontaine Automotive’s August purchase of Keller Ford. The Lincoln store purchased from the Pfeiffer family was renamed LaFontaine Lincoln Grand Rapids. “In short order, we’ve seen tremendous opportunity in the greater Grand Rapids area for continued growth for our group,” LaFontaine CEO Ryan LaFontaine said in a statement. LaFontaine Automotive now has 53 franchises, representing 24 brands and nine collision centers, all in Michigan.… [...]

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