Dan Sale, the owner of Sale Auto Mall in Kinston, has announced his retirement and the subsequent sale of the dealership. Established in 1986, Sale Auto Mall has been a significant player in the local automotive industry. The business includes BMW, Kia, Chevrolet, Buick, GMC, Ford, and a wide variety of certified used vehicles.
“We are selling to another family auto group, the Deacon Jones Auto Group from the Smithfield/Goldsboro area,” said Sale. “It was important for us to have another family group take over. They will take good care of my wonderful 100 plus employees.”
The next chapter for…
Automotive Deals
Mis-sold car finance scandal: could you be due compensation?
Don’t worry, Auto Express isn’t about to join the bandwagon of claims-management firms advertising on social media and elsewhere, using well-known statements to get their claws into a share of any payout you – and millions of others – may one day be entitled to as a result of a ‘mis-sold’ car finance agreement.
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At issue are finance agreements including a non-disclosed Discretionary Commission Agreement between your lender and your dealer, allowing the latter to secretly tweak interest rates for more or less commission. DCAs were banned in 2021, but were commonplace before that, especially…
GM scales back electric vehicle and self-driving car plans as new labor deals will cost it $10B
General Motors says it is pumping the brakes a little on its plans for electric vehicles and self-driving cars as new labor deals signed with unions in the US and Canada will cost it almost $9.3 billion US.
Despite those costs, the automaker says it plans to buy back up to $10 billion US of its own shares, while also increasing its dividend by 33 per cent.
The buyback was the equivalent at Tuesday’s closing price to nearly a quarter of GM’s common stock. Its shares were down about 14 per cent this year before rising 10 per cent to…
Hyundai vehicles to be available online in 2024
José Muñoz (right), CEO of Hyundai North America, and Marty Mallick, vice president for Amazon worldwide business and corporate development, at the Los Angeles Auto Show. Photo: Amazon via Business Wire
Amazon plans to begin allowing Hyundai dealers to sell new vehicles on its platform, launching the e-commerce giant into the lucrative but highly competitive car market for the first time.
Why it matters: Amazon’s sheer e-commerce heft means the company must immediately be taken seriously in the automotive retail space.
Driving the news: Amazon announced its plans Thursday during the 2023 Los Angeles Auto Show, and said Hyundai would…