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.
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.
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.
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.
Reuters reported last week that Reynolds and Reynolds is mulling a sale to equity firms in a deal that could be worth $5 billion.
Results of a study conducted by Reuters and research firm Ipsos showed that one in three Facebook users are suffering from ‘Facebook fatigue.’
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