| Dealership Failed to Pay Tax, Refinance Loans |
Dec 20th, 2012 |
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 A nearly one-year investigation has resulted in a Woodside, Queens, used-car dealership and its husband and wife owners being charged with tax fraud and other felonies involving auto loan refinancing.
In addition, a Queens County grand jury has returned an indictment charging the dealership's former finance manager with defrauding 23 car buyers out of a total of more than $115,000 in cash through a phony refinance scheme.
Hooshmand ("Danny") Kohanano, 54, and his wife, Fereshteh ("Jenny") Kohanano own Auto Palace Inc. in Woodside, Queens.
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| Toyota Pays for Late Recalls |
Dec 20th, 2012 |
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 The U.S. Department of Transportation's National Highway Traffic Safety Administration (NHTSA) announced that Toyota Motor Corporation has agreed to pay $17.35 million, the maximum fine allowable under the law, in response to the agency's assertion that the automaker failed to report a safety defect to the federal government in a timely manner. This action represents the single highest civil penalty amount ever paid to NHTSA for violations stemming from a recall.
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| Sandy Buoys Used Car Prices |
Dec 20th, 2012 |
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 Used-vehicle prices for cars and light-trucks up to 8-years-old were buoyed by Hurricane Sandy, resulting in stronger than expected prices in November.
Prior to Sandy, NADA Used Car Guide expected used-vehicle prices to drop by 2.1 percent in November. But the impact of the storm and the continuing tight supply of late-model vehicles plus strong demand slowed depreciation to 1 percent.
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| IMS Plans New Product |
Dec 20th, 2012 |
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 Inventory management system vAuto Genius Labs will release AutoVisor, a solution to build confidence for dealers and customers in every used vehicle opportunity.
AutoVisor will officially debut at the National Automobile Dealers Association conference in February. The product is the second offering in the new vAuto Genius Labs line, which the company launched last month.
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| 2012 Porsche 911 Carrera Cabriolet review notes: A Porsche 911 is fun in drop-top form, too...just not as much fun |
Dec 20th, 2012 |
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ASSOCIATE EDITOR JAKE LINGEMAN: Saying you're underwhelmed with a Porsche is like saying you're underwhelmed with a diamond ring. Sure, it's awesome and very expensive.
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| Chevrolet Sonic, Buick Verano Production Idled This Week to Reduce Inventory |
Dec 20th, 2012 |
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In the face of building inventories of unsold vehicles, General Motors temporarily idled production of the Chevrolet Sonic and Buick Verano this week. According to a GM representative, the automaker halted its Lake Orion, Michigan, plant because “we build to demand.” GM is struggling with high inventories of unsold cars across its lineup, despite continuing [...]
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| 2013 Chrysler 300 Motown Special Edition Celebrates Detroit Music |
Dec 20th, 2012 |
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Given Chrysler’s “Imported From Detroit” tagline, we’re surprised this didn’t happen sooner — but, since “Motown: The Musical” is about to launch on Broadway, now apparently is the time to launch the new 2013 Chrysler 300 Motown Edition. While it’s arguable that the SRT Viper or Jeep Grand Cherokee would be better models to spawn [...]
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| Recalled: 145,000 Chevrolet Colorado, GMC Canyon Trucks for Hood Latch Issue |
Dec 20th, 2012 |
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GM has issued a recall for 2010-2012 Chevrolet Colorado and GMC Canyon trucks that could affect more than 145,000 vehicles worldwide. The Problem: 2010-2012 Chevrolet Colorados and 2010-2012 GMC Canyons made from November 9, 2009 through August 28, 2012 may have a hood that’s missing the secondary hood latch. If the primary hood latch is [...]
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| UPDATE: Next-Gen Chevrolet Camaro Will Be U.S.-Built Alongside Cadillac CTS, ATS |
Dec 20th, 2012 |
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The next-generation Chevrolet Camaro will be built in the U.S., GM announced today. While the 2013 Chevrolet Camaro is currently produced in Canada at a plant in Oshawa, the revised Camaro will move production to GM’s Lansing Grand River Assembly Plant in Michigan, where the Cadillac CTS and Cadillac ATS are made. Camaro production will [...]
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| Fiat announces $1.3B investment for new SUVs |
Dec 20th, 2012 |
Milan - Fiat chief executive Sergio Marchionne has announced a $1.32 billion investment to produce two SUVs at a plant in southern Italy.In a sign of the importance of the investment, Premier Mario ...
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