Car dealer – Lancia Data http://lanciadata.com/ Thu, 29 Sep 2022 10:45:19 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://lanciadata.com/wp-content/uploads/2021/07/favicon-24-150x150.png Car dealer – Lancia Data http://lanciadata.com/ 32 32 Illinois Files Criminal Charges Against Top Carvana Executive https://lanciadata.com/illinois-files-criminal-charges-against-top-carvana-executive/ Thu, 29 Sep 2022 10:45:19 +0000 https://lanciadata.com/illinois-files-criminal-charges-against-top-carvana-executive/ Illinois Files Criminal Charges Against Top Carvana Executive By Lurah Bassey on September 29, 2022Business Practices | Legal The Illinois Secretary of State has filed multiple criminal charges against Paul Breaux, Vice President, General Counsel and Secretary of Carvana. Among the charges are acting as an unlicensed used car dealer as well as failing to […]]]>

Illinois Files Criminal Charges Against Top Carvana Executive

By Lurah Bassey
on
Business Practices | Legal

The Illinois Secretary of State has filed multiple criminal charges against Paul Breaux, Vice President, General Counsel and Secretary of Carvana. Among the charges are acting as an unlicensed used car dealer as well as failing to transfer titles and keep records.

Breaux said in a statement sent to Repairer Driven News, “the decision to charge me personally is highly unusual to say the least.”

“I traveled to Illinois to talk to the state and instead they targeted me with charges because Carvana does door-to-door deliveries to customers and told me that the seven-day money-back guarantee days of Carvana was not allowed,” Breaux said. “I’m disappointed because I proactively met with several Illinois officials in 2017 to outline our home delivery and return options for our customers and they did not raise an issue then or raise trouble since, during which time we’ve delivered tens of thousands of cars to homes across Illinois and provided exceptional customer experiences.Records prove that many late title transfers happen every day for Illinois dealerships. ‘Illinois.

Secretary of State Jesse White’s office launched an investigation into the online car sales company in February after receiving 95 consumer complaints about the company’s alleged failure to properly transfer titles to buyers and misuse out-of-state Temporary Registration Permits (TRPs). Due to this investigation, which the bureau confirmed to RDN is ongoing, Carvana’s dealer license has been suspended. It was later reinstated under strict guidelines, which White’s office said in May that Carvana had violated, so the company’s reseller license was again suspended.

In August, an Illinois judge ordered a temporary restraining order (TRO) against the Secretary of State, brought by Carvana, that restricts the revocation or suspension of Carvana’s Illinois dealer license. The TRO is still in effect, and according to Secretary of State spokesman Henry Haupt, it “allows Carvana to sell cars in Illinois under strict guidelines.”

“Carvana cannot issue temporary registration permits or license plates. They must register title through Illinois Remitters, which are third-party entities licensed in Illinois to process title transactions. titles. This will ensure that titles are processed quickly. … The Illinois Secretary of State’s top priority is to protect Illinois consumers and ensure state law is followed. is committed to fulfilling its mission to protect consumers and enforce Illinois law.Our office will take action to suspend any business that fails to comply with Illinois law. Compliance with Illinois law results in criminal offenses.It is imperative that the Secretary of State enforce the law and prosecute criminal offenses.

Breaux also faces 51 counts of misuse of registration and 27 counts of dealer failure to transfer title. Charges of failure to maintain records relate to alleged violations by a used dealership, acquisition/disposal, documentary evidence, dealer plate log, and failure to inspect vehicles.

“In response to a public records request, the state provided voluminous documents detailing approximately 500,000 late title and registration cases over the past several years, where more than 90 IL dealerships had more late cases than Carvana” , a Carvana spokesperson told RDN earlier this week. “To our knowledge, none of these resellers are being prosecuted for suspension or charged with crimes. In all of our statements, we rely solely on information and data controlled and provided by the state.

“We appreciate the support of our Illinois customers as we continue to work with the state on a long-term resolution. We are confident that we will successfully defend the right of Illinois residents to buy and sell cars online through our industry-leading e-commerce platform.

Breaux’s next court date is set for Nov. 1.

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Featured Image Credit: jetcityimage/iStock

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Pressure on Egyptian imports hampers economy as dollars run out https://lanciadata.com/pressure-on-egyptian-imports-hampers-economy-as-dollars-run-out/ Tue, 27 Sep 2022 13:09:00 +0000 https://lanciadata.com/pressure-on-egyptian-imports-hampers-economy-as-dollars-run-out/ New rules have slowed imports amid pressure on the currency The bottleneck contributed to strong price increases Bankers say dollars are scarce in the interbank market CAIRO, Sept 27 (Reuters) – Christeen Aiad, from east Cairo, was hoping to buy a small automatic car this year, but rules preventing importers from exchanging scarce dollars have […]]]>
  • New rules have slowed imports amid pressure on the currency
  • The bottleneck contributed to strong price increases
  • Bankers say dollars are scarce in the interbank market

CAIRO, Sept 27 (Reuters) – Christeen Aiad, from east Cairo, was hoping to buy a small automatic car this year, but rules preventing importers from exchanging scarce dollars have paid for that and she has to move to bike instead.

The war in Ukraine has aggravated Egypt’s economic difficulties. It has skyrocketed the import-dependent country’s bill for wheat and oil and with it the need for dollars, and crushed tourism from two of its biggest markets – Ukraine and Russia, a key source hard currencies.

A loss of confidence in the weakening Egyptian pound and an exodus of local and foreign investors from short-term government securities contributed to the dollar shortage. Read more

Join now for FREE unlimited access to Reuters.com

Unfortunately for those planning purchases like Aiad, new import rules introduced earlier this year to stem dwindling foreign exchange reserves and bolster the pound have led to shortages of goods, sending inflation soaring near four-fourth highs. year.

“Even used cars have become out of reach,” said Aiad, 38, after the price of the car she wanted jumped 75% since she started looking last year, reflecting higher prices for some other imported goods. “I lost hope and decided to live without a car.”

The automotive sector has been one of the hardest hit, but the import crisis has affected everything from electrical components to textiles and spare parts, traders said.

This week, the central bank, where the governor was abruptly replaced in August, eased restrictions slightly by allowing companies to use foreign currency deposits or transfers to secure letters of credit to pay for imports, according to new regulations widely reported in local media. The central bank did not respond to a request for comment.

But the import bottleneck is expected to persist.

Annual imports of finished vehicles to Egypt, previously worth around $8 billion, are expected to fall by more than half this year, a senior industry executive said. Prices of popular used cars have doubled and some traders are hoarding them in expectation of further increases, according to two used car dealers in Cairo.

“There is a buying frenzy due to people’s fears about what might happen later,” said a third used-car dealer in the Egyptian capital, Hany Ahmed. “Some are buying cars as a store of value in light of local currency devaluation.”

THE DOLLARS DISAPPEAR

In April-June, imports of durable consumer goods fell 57% from the same quarter a year earlier, according to the most recent quarterly figures from the national statistics agency.

Over the summer, some clothing retailers unable to secure new seasonal stock left winter collections on the shelves.

Bankers say dollars have largely disappeared from the interbank market, and traders say that for most people securing hard currency through a letter of credit so they can import goods has become a time-consuming and frustrating task.

Net foreign assets in the banking system fell to the equivalent of negative 369 billion Egyptian pounds ($19 billion) in July, from positive 248 billion in July 2021, as the central bank reduced them to support the value of the currency against the dollar, according to central bank data.

Foreign currency reserves slipped to $33 billion in July from $41 billion in January despite an influx of cash from Egypt’s Gulf allies and new import rules.

US Federal Reserve rate hikes that began in March have complicated Egypt’s efforts to attract local and foreign borrowing to fill current account and budget deficits.

With mounting debt, Egypt has been negotiating a new loan with the International Monetary Fund since March to help shore up its economy. Read more

Meanwhile, the Egyptian pound has lost more than 22% of its value against the dollar since March.

RETURN TO PORTS

Exemptions were granted for essential goods and industrial inputs ahead of the relaxation of the central bank’s latest import rule, but officers are still struggling to pay letters of credit needed to secure cargo release and diplomats say some exporters to Egypt have become wary.

A Commerce Department spokesperson declined to comment on the reported difficulties.

“There are stocks of goods piled up at customs,” said Ahmed Shiha of the importers division at the Cairo Chamber of Commerce. “Some shipments could be stuck (in ports) for three or four months.”

The construction sector, which has helped keep Egypt’s economy growing during the COVID-19 pandemic, has been hit by the delays, developers said.

“I cannot say that there are projects that have stopped, because the real estate sector uses a lot of locally produced materials. But there may be projects that have delayed openings by two months for example, so that the people can bring in their imports,” said Mohamed Hany el-Assal, CEO of Misr Italia Properties.

Even some items that many would consider essential have been affected. A Cairo pharmacy owner said Egyptian drug suppliers were struggling to import foreign-made drugs, while local manufacturers had cut production due to difficulties in importing active ingredients.

Officials say reserves of strategic commodities, including wheat, have been maintained.

“There is definitely a backlog (for food products) at the ports, said Ashraf el-Gazayerly, a senior official with the food chamber of the Federation of Egyptian Industries. “Stocks are dwindling but there is no shortage.”

($1 = 19.4600 Egyptian pounds)

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Additional reporting by Mariam Rizk, Patrick Werr, Aidan Lewis and Nafisa Eltahir; Writing by Aidan Lewis; Editing by Elaine Hardcastle

Our standards: The Thomson Reuters Trust Principles.

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Barking Blackburn watchdogs cost car dealers thousands https://lanciadata.com/barking-blackburn-watchdogs-cost-car-dealers-thousands/ Sun, 25 Sep 2022 04:00:00 +0000 https://lanciadata.com/barking-blackburn-watchdogs-cost-car-dealers-thousands/ The LATE night barking of guard dogs at his sales pitch cost a car dealership £8,500. Shakil Ali Asghar, owner of Agate Autos on Whalley New Road in Blackburn, had to pay the fine after being found guilty of breaching a noise reduction notice. He was warned by Blackburn with the Darwen Council public protection […]]]>

The LATE night barking of guard dogs at his sales pitch cost a car dealership £8,500.

Shakil Ali Asghar, owner of Agate Autos on Whalley New Road in Blackburn, had to pay the fine after being found guilty of breaching a noise reduction notice.

He was warned by Blackburn with the Darwen Council public protection service that guard dogs at his car sales pitch were barking late at night and causing a nuisance to neighbours.

Although they had every chance to stop the nuisance, the barking continued to disturb neighbors’ sleep and Borough officers served notice of reduction in October 2021.

But the barking didn’t stop, so the board decided to pursue once violations of the advisory were found.

Mr Asghar was found guilty of breaching the reduction notice in his absence at Burnley Magistrates Court on September 1.

He was fined £5,000, ordered to pay costs of £3,000 and ordered to pay a victim surcharge of £500, making a total fine of £8,500.

Application for criminal behavior order to prevent dogs being kept at car sales premises to be heard on October 4

Cllr Shaukat Hussain, Blackburn with the Darwen Council’s deputy executive member for environment and operations, said: “The council is doing all it can to resolve noise complaints without resorting to legal action, but if offenders don’t listen not the reason, they will suffer the consequences.

“Complaints about dog barking are on the rise, so I would advise owners of dogs who may be causing similar issues to take note of this lawsuit and ensure they don’t end up in the same situation.”

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Are clouds planned for Blue Sky dealer values? https://lanciadata.com/are-clouds-planned-for-blue-sky-dealer-values/ Wed, 21 Sep 2022 11:11:22 +0000 https://lanciadata.com/are-clouds-planned-for-blue-sky-dealer-values/ It’s hard to say when, but auto dealership values ​​could top, says dealership broker Erin Kerrigan. Kerrigan, Founder and Managing Director-Kerrigan Advisors of Irvine, Calif., says the key question is: How long can dealers sustain record profits? “Are blue sky values ​​peaking? is the provocative title of Kerrigan’s September 13 webinar, hosted by the American […]]]>

It’s hard to say when, but auto dealership values ​​could top, says dealership broker Erin Kerrigan.

Kerrigan, Founder and Managing Director-Kerrigan Advisors of Irvine, Calif., says the key question is: How long can dealers sustain record profits?

“Are blue sky values ​​peaking? is the provocative title of Kerrigan’s September 13 webinar, hosted by the American International Automobile Dealers Assn. “They could be,” she said in response to her own question after the event. “It’s impossible to predict, given the continued record profitability.”

Blue sky is the industry term for the amount a dealership buyer pays in addition to the value of a dealership’s physical assets. The better the outlook for future earnings, the higher the blue sky, Kerrigan (photo below left) said.

In the second quarter of 2022, the average blue sky in a buy-sell at a dealership was estimated at $12.1 million, compared to $11 million in 2021. This is also almost double the average of 6.4 million dollars in 2019 before the pandemic, according to Kerrigan Advisors.

At the same time, the volume of purchases and sales is at or approaching record levels. So far, high prices are not deterring buyers, according to brokers. According to Kerrigan Advisors, a record 167 buy-sell deals, including deals with multiple dealerships, were completed in the first half of 2022, up 16% from the first half of 2021.

In a separate report, Haig Partners, Fort Lauderdale, FL, says 225 U.S. dealerships changed hands in the first half of 2022, up about 3% from a year earlier.

The scarcity of new cars and trucks is the main driver of record new vehicle profits per unit and record dealer profits overall. Analysts attribute the scarcity to the continued shortage of computer chips and other supply chain issues, often related to the COVID-19 pandemic. At the same time, consumer demand continues to outstrip supply.

Understandably, sellers and dealership buyers disagree on whether the current environment of high demand and low supply can be sustained.

“From a seller’s perspective, this may be more sustainable than originally thought,” Kerrigan says in the webinar. That is, supply chain challenges will likely continue for “many, many years, she says, even if computer chip manufacturing capacity eventually increases.

Additionally, dealer groups and OEMs say both sides want to keep inventories low, even after supply constraints ease, as they recognize the financial benefits of lower supply compared to the request.

Finally, public dealer groups, for example, insist that they have restructured since the start of the pandemic to achieve more sales with fewer employees and less advertising. This is possible in part by moving to more online sales and marketing and a more efficient digital workflow.

Dealership buyers, on the other hand, don’t want to pay a premium for dealerships based solely on recent performance, which they deem unsustainable.

“Some buyers are concerned about going back to, in effect, pre-pandemic revenue,” Kerrigan says. Buyers are also more likely to predict that OEMs will “get weaker” and start trying to gain market share “by overproducing vehicles and pushing customers,” she says.

Kerrigan notes that publicly traded dealer groups are finding it more expensive to pay for acquisitions with stock, as stock prices are down from recent highs. Some public groups are spending heavily on share buybacks to drive up stock prices.

Additionally, she says the number of multi-roof buy-sell transactions fell to 42 in the first half of 2022 from 51 in the first half of 2021. In addition, she says public group spending on acquisitions fell in the first semester. to about $1.1 billion, from $2.1 billion a year ago.

In the short term, Kerrigan says a recession in the United States could threaten dealer profits. Longer-term threats to dealer profits include the shift to online sales, increased electric vehicle sales, the threat to market share from new manufacturers such as Tesla and Rivian, and the possibility that more brands can move to an “agency” model, where dealers simply deliver new vehicles.

So, are blue sky values ​​peaking? “I don’t have a crystal ball that can answer that question perfectly,” Kerrigan says.

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As a premier car dealership, Dourado Luxury Cars offers a diverse range of classic and exotic cars. https://lanciadata.com/as-a-premier-car-dealership-dourado-luxury-cars-offers-a-diverse-range-of-classic-and-exotic-cars/ Mon, 19 Sep 2022 21:20:22 +0000 https://lanciadata.com/as-a-premier-car-dealership-dourado-luxury-cars-offers-a-diverse-range-of-classic-and-exotic-cars/ As a leading car dealership, Dourado Luxury Cars in Dubai brings a new category of automobiles from top brands to the market. Dourado Luxury Cars has a large inventory of Bentley, Ferrari, Lamborghini, Land Rover, Mercedes-Benz, Rolls-Royce, Porsche and other luxury vehicles. California – September 19, 2022 – When buying a luxury vehicle, it is […]]]>

As a leading car dealership, Dourado Luxury Cars in Dubai brings a new category of automobiles from top brands to the market. Dourado Luxury Cars has a large inventory of Bentley, Ferrari, Lamborghini, Land Rover, Mercedes-Benz, Rolls-Royce, Porsche and other luxury vehicles.

California – September 19, 2022 – When buying a luxury vehicle, it is essential to consider a few crucial elements to make the best decision. Some of the elements include considering what type of luxury car to buy, as there are many brands and models of luxury automobiles in the market, so it is essential to have a clear picture of the chosen vehicle before starting the research. Likewise, conduct research on luxury car dealerships to find out which ones offer the best assortment and the best prices. Likewise, take a test drive before making a final purchase. These few simple guidelines are part of what makes Dourado Luxury Cars the premier dealership in the world, as they work tirelessly to find the perfect luxury vehicle for customers.

The Dourado Luxury Cars SALES representative said, “Dourado Luxury Cars is delighted to announce the launch of a wide range of classic and rare automobiles. Our selection of cars is unmatched and we are proud to offer our customers the chance to own a piece of history. Whether you’re looking for a classic car to take away on the weekend or a rare car to show off at your next event, we’ve got something for everyone. Visit our website today to learn more about our available inventory and be sure to check back often as new cars are added regularly.

Dourado Luxury Cars in Dubai has a large inventory of Bentley, Ferrari, Lamborghini, Land Rover, Mercedes-Benz, Rolls-Royce, Porsche and other luxury vehicles.

Delivereo

The Lamborghini URUS 2021 model is part of the Dourado Luxury Cars products with additional features such as talgete 22 diamond wheels with gray calipers, AUX audio input, CD player, air conditioning, cruise control, electric seats, leather seats, tuner/radio, parking sensor, headlights and parking sensors, and many other unique features.

Dourado Luxury Cars also deals with other stocks like Rolls Royce, Bentley, Mercedes GLE 450 4MATIC and many more.

Remarkably, the Dourado Luxury Cars sales team helps customers select their ideal car based on their vast experience and passion for providing the best service to customers.

About DOURADO LUXURY CARS

Dourado Luxury Cars is one of the world’s premier luxury car dealerships, offering a wide range of classic and rare automobiles. The selection includes some of the most sought-after automobiles ever produced, including the Ferrari 250 GTO, Rolls-Royce Phantom IV and Mercedes-Benz 300 SL.

Media Contact
Company Name: DOURADO LUXURY CARS
Contact person: SALES
E-mail: Send an email
Call: +971547065448
Address:Rawabeh Building, Al Goze Industrial first – Sheikh Zayed Road
Town: dubai
Country: United Arab Emirates
Website: https://douradocars.com/

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Shift to EV offers the last chance to buy a shifter for car buyers https://lanciadata.com/shift-to-ev-offers-the-last-chance-to-buy-a-shifter-for-car-buyers/ Sun, 04 Sep 2022 22:00:00 +0000 https://lanciadata.com/shift-to-ev-offers-the-last-chance-to-buy-a-shifter-for-car-buyers/ Yoichi Shibuya, enjoys driving his six-speed manual transmission Mazda Miata through a mountain pass commonly known as “Doshi-michi”. Stretching for tens of kilometers, the winding pass with many uphill and downhill sections is part of National Highway No. 413 connecting Sagamihara, Kanagawa Prefecture and Lake Yamanakako in Yamanashi Prefecture. As Shibuya, 41, a self-employed worker […]]]>

Yoichi Shibuya, enjoys driving his six-speed manual transmission Mazda Miata through a mountain pass commonly known as “Doshi-michi”.

Stretching for tens of kilometers, the winding pass with many uphill and downhill sections is part of National Highway No. 413 connecting Sagamihara, Kanagawa Prefecture and Lake Yamanakako in Yamanashi Prefecture.

As Shibuya, 41, a self-employed worker living in Ebina, Kanagawa Prefecture, pressed the accelerator with his right foot, the engine started revving with a roar.

As soon as the tachometer needle on the dashboard indicates more than 2,000 rpm, he presses the clutch with his left foot and shifts the gear lever from second to third with his left hand.

As the clutch was released to engage the gears, the roadster sports car continued to accelerate with increasing speed.

“It’s a nice feeling that can only be felt with a manual transmission car,” Shibuya said.

The expected shift to electric vehicles has triggered a last-minute surge in demand for cars with manual transmissions, like the sports car driven by Shibuya.

While shifting fans think now is the last chance to buy manual cars that enhance driving fun, younger drivers are drawn to a more analog driving experience.

Major automakers are also adding manual transmission models to their lineups to meet demand.

HARDER TO DRIVE BUT BRINGS ‘JOY’

Shibuya found his passion for driving after losing his wife, whom he spent a lot of time with, to cancer a year ago.

Driving was what filled the void in his heart as he could only forget his grief when he was behind the wheel.

Soon he became more and more interested in driving a manual transmission vehicle that requires both hands and feet to operate.

As the government has set itself the goal of reducing greenhouse gas emissions to net zero by 2050, automakers are shifting into high gear towards electric vehicles.

This could mean cars with manual transmissions will soon be a thing of the past, as shifters can only be fitted to vehicles with combustion engines, which emit carbon dioxide when driven.

Shibuya felt more and more that this might be the last chance to buy a car with a shifter.

But the problem was that he only had a driver’s license limited to driving an automatic transmission.

In January this year, Shibuya applied for a course at a local driving school to be certified to drive a manual transmission car and passed the exam.

He took a test drive in a Miata equipped with a manual transmission and decided to buy the vehicle on the spot, for a lump sum payment of around 2.9 million yen ($21,000).

After taking delivery in February, he drives the sports car almost daily.

It was harder than he initially thought to drive a shifter.

But he found driving fun because the more he drives, the more his skills improve.

“I stumbled upon a manual car at a turning point in my life and it transformed my everyday life into something joyful,” Shibuya said.

“FRESH” ANALOG TECHNOLOGY

A Mazda Miata with a manual transmission (Takuro Chiba)

The Miata has become a big seller. On average, it has sold between 350 and 450 units per month since 2019.

But more than 1,100 units were sold each month from January to March this year.

Of these, the manual transmission edition accounted for 80%.

The current model was introduced seven years ago in 2015, so sales are expected to decline under normal circumstances before a model change.

Although the sales increase was partly spurred by the release of a special edition in December last year, a publicist for Mazda Motor Corp. said the car was selling “beyond expectations”.

According to Shonan Mazda Co. car dealership‘s Sagamihara outlet, it began to receive an increasing number of inquiries about the Miata manual transmission after fall 2020, when the government announced its goal of net-zero CO2 emissions. by 2050.

And when Mazda unveiled its strategy in June 2021 to make all its cars electric by 2030, speculation swirled among users that the current model could be the last shifting Miata to roll off the production line. assembly.

“An increasing number of people are visiting our store to buy, thinking it might be the last chance to buy a shifter,” said Kaito Kawasaki, a new car sales representative at the Sagamihara store.

About half of buyers of the manual-transmission model are in their 50s or older.

They include those who want to buy manual transmission cars like the ones they drove when they were younger now that their kids have grown up.

Some are determined to buy their last gas-powered vehicles of their lives, Kawasaki said.

OTHER MANUFACTURERS ALSO OFFER BALCONY CARS

While several hundred units of Honda Motor Co.’s new Civic Hatchback are sold each month, the manual transmission model accounts for almost 40% of sales.

20220905-manual-3-L
A Honda Civic (supplied by Honda Motor Co.)

About half of buyers are in their 20s and 30s, with most deciding to buy the shift option after getting information about the car from social media reviews and YouTube videos published by members of the same generation.

“Manual transmission cars built with analog technology are, in fact, new to young people in the digital generation, and they enjoy the fun of tinkering with machines,” said Daisuke Sato, head of product planning section. at Honda.

Other major automakers are also following suit.

Toyota Motor Corp. will add a manual transmission option to its automatic-only Supra sports car, which will begin sales as early as fall.

Nissan Motor Co. has revealed plans to include a stick-shift version for its new Fairlady Z sports car.

(This article was written by Takuro Chiba and Junichi Kamiyama.)

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Clovis car dealership heads to jail for million dollar fraud https://lanciadata.com/clovis-car-dealership-heads-to-jail-for-million-dollar-fraud/ Thu, 01 Sep 2022 01:41:13 +0000 https://lanciadata.com/clovis-car-dealership-heads-to-jail-for-million-dollar-fraud/ CLOVIS, Calif. (KFSN) — The long saga of a Clovis auto broker who swindled over $1 million from his clients is nearing a resolution. The deal seemed almost too perfect to Mark Bennett. Clovis’ auto broker, Scott Radtke, got him the exact vehicle he wanted and for about $2,000 less than Bennett could find anywhere […]]]>

CLOVIS, Calif. (KFSN) — The long saga of a Clovis auto broker who swindled over $1 million from his clients is nearing a resolution.

The deal seemed almost too perfect to Mark Bennett.

Clovis’ auto broker, Scott Radtke, got him the exact vehicle he wanted and for about $2,000 less than Bennett could find anywhere else.

“I got out and saw it and at that time what I didn’t know was that I already owned this vehicle,” Bennett said.

Or he didn’t have it at all.

Bennett put down a deposit and took out a loan, but later discovered that Radtke had pocketed it all. He also forged documents to secure a second loan in Bennett’s name.

Months later, Bennett had made payments on a loan, but a repo man took the vehicle and Bennett had lost about $10,000.

He eventually discovered that his case was not unique in 2016 and 2017.

DMV investigators said they stopped counting Radtke’s victims somewhere after 50, including Anne Scheid.

“What happened to a man that was a preacher’s son?” she says. “He obviously loved what he did, my first car. And something happened in his heart and took him to a really dark place.”

Scheid had bought a Prius through Radtke in 2007 and everything went well.

She lost a few thousand dollars when she returned ten years later, and yet she counts herself among the lucky ones.

Other customers lost more money.

Some of them, like Bennett, lost months trying to piece together what happened while seeing their credit scores ruined.

“I just want people to recognize the damage,” Bennett said. “And if they can help some of those people, then that’s wonderful.”

Radtke reached a plea deal with federal prosecutors, admitting one count of bank fraud and one count of identity theft.

He delayed his sentence twice, citing the serious health problems of a member of his family.

His defense attorney told Action News that those issues coincided with Radtke’s “derailment.”

Bennett and Scheid say they sympathize, but that doesn’t change their opinion of Radtke’s fraud.

“There is no excuse,” Bennett said. “It’s not a heat of passion, just a crazy moment. It’s calculated. It’s strategic. It’s wrong.”

For now, Radtke is due to be sentenced in federal court in November. The minimum sentence will be two years in prison and restitution of more than $1.3 million.

Copyright © 2022 KFSN-TV. All rights reserved.

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Next step for Lithia Motors: the United Kingdom? https://lanciadata.com/next-step-for-lithia-motors-the-united-kingdom/ Sun, 28 Aug 2022 18:00:01 +0000 https://lanciadata.com/next-step-for-lithia-motors-the-united-kingdom/ A spokesperson for publicly traded Pendragon, in an email, mentioned Automotive News to the August 5 filing and declined to comment on the identity of the bidder. Tom Dobry, Vice President of Marketing for Lithia, in an email to Automotive Newssaid it was not commenting on “any potential acquisition activity until the transaction is complete.” […]]]>

A spokesperson for publicly traded Pendragon, in an email, mentioned Automotive News to the August 5 filing and declined to comment on the identity of the bidder. Tom Dobry, Vice President of Marketing for Lithia, in an email to Automotive Newssaid it was not commenting on “any potential acquisition activity until the transaction is complete.”

But news of the failed deal shows how Lithia, America’s second-largest dealership group in 2021 but the nation’s top new-vehicle retailer in the first half of this year, may want to expand its overseas footprint.

David Whiston, a Chicago-based Morningstar analyst who covers public auto retailers, called Lithia an opportunistic buyer in a fragmented space with “tons of options” in the United States and English-speaking foreign markets.

“If they see something, they can go get it,” Whiston said, noting that Lithia has flexibility with its credit lines.

So even though the deal with Pendragon appears to have fallen through, we can expect Lithia to continue to seek deals in the US and probably the UK or Australia as well, he said.

“It’s just a matter of what’s on the table right now and at what price,” Whiston said.

Steve Young, UK-based managing director of European research and consultancy firm ICDP, said Lithia still had other potential targets in the UK.

While most dealer groups in Europe and the US are private, Young said, the UK has a higher ratio of public groups, including Lithia’s US rivals Penske Automotive Group and Group 1 Automotive. , both of whom have been in the UK for years.

“It makes perfect sense for Lithia to buy a big UK band,” Young said.

The proposed purchase of Pendragon was conditional on securing irrevocable commitments from each of the company’s five major shareholders, the UK retailer said in its filing. However, Pendragon said it was unable to engage with any of the shareholders, which Sky News identified as the Hedin Group.

“Given this lack of certainty, the bidder has withdrawn its non-binding offer and both parties have terminated discussions,” Pendragon said in the August filing.

Whiston called it a “huge problem” for a buyer if all of a seller’s stakeholders don’t agree to a deal. “I don’t blame [Lithia] for walking away if that was the reason, he said.

Young described Pendragon as the model for large public concession groups in the UK. Former Pendragon CEO Trevor Finn quickly built the business by buying other groups and individual stores. Pendragon then acquired a vendor of dealership management systems, expanded into the United States before later pulling out, modeled a used vehicle business on US giant CarMax, and centralized some of its operations, Young added.

Pendragon is Europe’s ninth-largest dealership group by turnover with 142 new vehicle franchise points in the UK, according to Automotive News Europe2021 guide to the biggest dealerships in Europe.

“Pendragon is a nice sandbox to play in,” Young said. “He has a lot of ability and there are a lot of good basic assets there.

But Young said Pendragon’s relationship with the automakers it represents needs to be improved, and he noted there were staff retention issues at the retailer.

Pendragon is now run by Bill Berman, the former chief operating officer of AutoNation who also briefly served as president of AutoCanada’s U.S. operations. Berman joined Pendragon’s board of directors in April 2019 and was later named interim executive chairman and then CEO in February 2020.

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AG Shapiro takes action to protect Pennsylvanians who buy used cars – PA Office of Attorney General https://lanciadata.com/ag-shapiro-takes-action-to-protect-pennsylvanians-who-buy-used-cars-pa-office-of-attorney-general/ Wed, 24 Aug 2022 18:13:51 +0000 https://lanciadata.com/ag-shapiro-takes-action-to-protect-pennsylvanians-who-buy-used-cars-pa-office-of-attorney-general/ Two Philadelphia-area dealerships knowingly sold cars that weren’t roadworthy and misled consumers about vehicle safety HARRISBURG — Attorney General Josh Shapiro announced today that his office has filed a lawsuit against Philadelphia-area used-car dealerships, A Impuls Auto Inc. and Great Auto Deals Inc., for allegedly violated Pennsylvania consumer protection laws. Owners and operators Yudik Aysenshteyn […]]]>

Two Philadelphia-area dealerships knowingly sold cars that weren’t roadworthy and misled consumers about vehicle safety

HARRISBURG — Attorney General Josh Shapiro announced today that his office has filed a lawsuit against Philadelphia-area used-car dealerships, A Impuls Auto Inc. and Great Auto Deals Inc., for allegedly violated Pennsylvania consumer protection laws. Owners and operators Yudik Aysenshteyn and Yuriy Klimin are also named in the lawsuit. A Impuls Auto, Inc. is located in Philadelphia and Great Auto Deals Inc. is located in Hatboro, Pennsylvania.

“We’ve seen continued demand for used cars here in Pennsylvania,” AG Shapiro said. “And with that comes an increase in scammers. Pennsylvanians are paying thousands of their hard-earned cash for cars that break down the same day they buy them. It’s not something my office is going to wait and let. We warn these dealers: shift gears, obey the law, or my office will see you in court. »

An American consumer who buys a used car today pays 42% more than they would have in 2019, according to Kelley Blue Book.

Lawsuit alleges Aysenshteyn and Klimin sold cars to consumers that were unfit to be on the road, intentionally misled consumers about safety and condition of vehicles, operated unlicensed dealership and made unauthorized sales. In complaints filed with the Attorney General’s Office, consumers alleged that vehicles sold broke down or were deemed unsafe to drive on the same day they were purchased or a few days later. A consumer paid over five thousand dollars for a used car only to discover upon inspection that the entire bottom of the car was rust damaged. The damage had been spray painted as a method of concealment. In addition to the chassis of the vehicle which was rusted, the brakes were rusted and the emergency brake was inoperable.

The lawsuit asks the court to order Yudik Aysenshteyn and Yuriy Klimin, owners and operators of car dealerships, to:

  • Pay compensation to all persons who suffered losses as a result of the defendants’ conduct.
  • Be permanently prohibited from 1) doing business as a seller of motor vehicles in Pennsylvania or to Pennsylvania consumers, and 2) from any practice that violates consumer protection law, automobile regulations, the Code of Vehicles and/or Vehicle Council Act.
  • Pay civil penalties of $1,000 for each violation of the Consumer Protection Act and $3,000 for each violation involving a consumer 60 or older.

Consumers who believe that they or someone they know may have been victimized by A Impuls Auto, Inc. or Great Auto Deals Inc. should file a complaint with the Office of Consumer Protection Online, by calling 800-441-2555 or emailing scams@attorneygeneral.gov. Repair shops, dealers or anyone else who may have information regarding the alleged business practices of A Impuls Auto Inc., Great Auto Deals Inc., Yudik Aysenshteyn or Yuriy Klimin should also contact the Bureau.

The lawsuit was filed in the Philadelphia County Court of Common Pleas.

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Select Board suspends Westborough Mobil dealership license https://lanciadata.com/select-board-suspends-westborough-mobil-dealership-license/ Thu, 18 Aug 2022 18:24:00 +0000 https://lanciadata.com/select-board-suspends-westborough-mobil-dealership-license/ Westborough Mobil is located at 24 East Main Street. (Photo/Stuart Foster) WESTBOROUGH – The Select Board has suspended Westborough Mobil’s dealer license at 24 East Main St. The Select Board voted on August 9 to suspend the license for 30 days, meaning the owner would not be able to buy or sell used cars. After […]]]>
Westborough Mobil is located at 24 East Main Street. (Photo/Stuart Foster)

WESTBOROUGH – The Select Board has suspended Westborough Mobil’s dealer license at 24 East Main St.

The Select Board voted on August 9 to suspend the license for 30 days, meaning the owner would not be able to buy or sell used cars.

After the period, he will be allowed to maintain his renewal status subject to compliance with his authorizations.

Some board members expressed disappointment at what they said were continued violations by the resort, including having more unlicensed vehicles than allowed on the property.

“What I see here is a pattern of irresponsibility, and to say that [Owner Jack Azar] trying to play by the rules isn’t good enough. It’s his job, his responsibility as a business owner to play by the rules, said Select Board member Allen Edinberg.

What happened

Azar has operated at the Main Street location for 23 years and has a Class II Used Car Sales License.

This is not the first time Westborough Mobil has appeared before the Select Board for alleged breaches or had its license suspended, according to a 2011 Patch article.

Azar faced a lawsuit from the city in 2011 because there was no logbook kept. State law requires a used car dealership to maintain a log of incoming and outgoing cars.

Police said when they inspected the station on July 6, there were seven unregistered vehicles on the property, one more than they are allowed.

“The vast majority, as the police department noted in its report, … are registered. They are there being repaired because Jack runs an active repair service,” said Azar’s attorney, Michael Heineman.

Heineman said there were only three unregistered vehicles during the police inspection. Three of the unregistered vehicles were in the logbook and police missed a fourth, he said.

“Jack has no way of knowing if this is an active check-in or not. He doesn’t have access to the Maine database,” Heineman said.

He argued that Azar’s license was not in violation. In the past, he said the position of the Select Board and the police was that the station’s used car permit dealt with all unregistered vehicles on the property.

“Scheme of Irresponsibility”

Among the comments from the Select Board, they argued that Maine has a publicly available website to check if a vehicle is registered and insured, and it can indicate on the windshield or on a sticker on the license plate. if the registration has expired.

Edinberg maintained that Azar performed repair work on vehicles sold.

“So the repair operation is integral to the fact that he’s a used car dealership, and to say they’re totally separate is dishonest,” Edinberg said.

Edinberg said in 2019 there were 54 violations.

“Some of them were so severe that his building was closed and his operation was stopped immediately by firefighters because these violations posed an immediate threat to life and property,” Edinberg said.

At that time, the Select Board went ahead with renewing its license subject to not finding the company non-compliant.

Recently, Edinberg drove home and saw a vehicle parked on the East Main Street sidewalk with the hood open. He said one of the conditions for 2019 was that vehicles not leave the property and that no repair work would be done outside the catchment area.

Additionally, Edinberg described issues with other permits for hot work and flammable liquids.

“With all due respect to this company you run – whose repair work I have heard so much good about [and] it’s not a reflection of that work – but I feel like we’re having a childish conversation here,” said member Shelby Marshall.

She continued, “You can say to the child, ‘Don’t do it. Something will happen. Until you remove the phone, the child does not understand that there are consequences to action.

Azar said he was trying “very hard” not to let that happen. He said he was careful and took his job seriously. He said he was sometimes late in checking the recording.

“I’m sorry this happened, but I’m not doing anything on purpose,” he said.

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