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Hyundai Motor Exceeds Second-Quarter Estimates

Hyundai Motor Co reported a smaller-than-expected drop in profit on high-margin domestic sales and said, while demand should pick up soon, the pace of recovery will be slow due to the impact of the coronavirus pandemic.

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Reuters: U.S. Senate Panel Plans to Scrap CFPB’s Dealer Participation Guidance

U.S. Senate Banking Committee Republican Pat Toomey said on Tuesday the panel plans to scrap the CFPB’s guidance on dealer participation and leverage lending.

Tesla Feeling the Heat in Ohio, California

On the same day a Tesla sedan is revealed to have been the possible cause of a garage fire, a group of Ohio dealers, The Columbus Dispatch reports, is suing Tesla Motors and two state agencies. The suit charges that the electric carmaker’s license violates state law.

Yugo Importer Awarded $2 Million in Damages, Reuters Reports

According to Reuters, auto entrepreneur Malcolm Bricklin was awarded $2 million in damages after a former employee of his V Cars LLC illegally brought luxury vehicles into the U.S. market from China.

Reynolds Said to be Exploring $5 Billion LBO

Reuters reported last week that Reynolds and Reynolds is mulling a sale to equity firms in a deal that could be worth $5 billion.

1 in 3 Facebook Users Bored, Survey Says

Results of a study conducted by Reuters and research firm Ipsos showed that one in three Facebook users are suffering from ‘Facebook fatigue.’