Tag: cash

Official: Nissan donates cash, offers employee pricing and delayed payments to Southern storm victims

Filed under: Car Buying, Budget, Nissan

Nissan

Nissan Americas is offering employee pricing and delayed finance payments to victims of the recent tornadoes and floods across the southeastern U.S. The latest gesture comes after the company donated $115,000 to the Red Cross to help with the relief efforts.

Qualified buyers, meaning those from the southeast who were left without a mode of transportation after the storms, will be offered Nissans at a price normally reserved for company workers and their immediate families. To be eligible for the program, you have to live in Tennessee, Kentucky, Georgia, Arkansas, Mississippi or Alabama and be able to provide proof of damage to your primary vehicle. Check out Nissan’s full press release after the jump.

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Nissan donates cash, offers employee pricing and delayed payments to Southern storm victims originally appeared on Autoblog on Sun, 22 May 2011 15:33:00 EST. Please see our terms for use of feeds.

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S&P: Toyota still flush with cash reserves

Filed under: Toyota, Earnings/Financials

Toyota has money

Record fines from the National Highway Traffic Safety Administration, pending litigation from a number of private individuals and insurance agencies and the largest recall in its history haven’t managed to impact Toyota’s bottom line all that badly. According to the Standard & Poor’s Valuation and Risk Strategies group, Toyota still has the most cash reserves of any automaker in the world. The total? Well over $48 billion.

In fact, Toyota is listed as having the second largest-cash pile of all companies, regardless of what market they play in, though Apple would push Toyota to third if S&P counted the tech giant’s money differently. Other automakers with lots of dough on hand include Volkswagen (seventh), General Motors (eighth) and Ford (thirteenth). For what it’s worth, General Electric tops the list with enough coin to keep Scrooge McDuck busy for days.

[Source: The Wall Street Journal]

S&P: Toyota still flush with cash reserves originally appeared on Autoblog on Sun, 23 Jan 2011 11:44:00 EST. Please see our terms for use of feeds.

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Cash for Clunkers fraud investigation begins

Filed under: Car Buying, Government/Legal

Where there’s money, there’s fraud, and that appears to have been true with last year’s Cash for Clunkers program. According to a report from USA Today, the federal government is investigating around 20 dealers that may have violated the terms of the car-swapping scheme. So far, a total of nine dealerships have paid $71,500 in fines as a result of the National Highway Transportation Safety Administration’s findings.

In some cases, NHTSA suspects that vehicles meant for the scrap heap were actually shipped overseas and resold. Unsubstantiated reports claim that around 24 vehicles slipped out of the country in this fashion. Meanwhile, some junkyards have still yet to provide proof that other vehicles were in fact destroyed – a key piece of the process.

USA Today says that of all of the Cash for Clunkers claims, around 3.3 percent of the group have some sort of problem with their paperwork that may impact around $94 million in rebates. Even so, NHTSA says that there is no widespread fraud issue with the Cash for Clunkers program, and that the issues it has turned up are due to a few bad dealerships trying to work the system.

[Source: USA Today | Image: Justin Sullivan/Getty]

Cash for Clunkers fraud investigation begins originally appeared on Autoblog on Tue, 24 Aug 2010 16:25:00 EST. Please see our terms for use of feeds.

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Australia launching ‘Cash For Clunkers’ modeled on U.S. program?

Filed under: Car Buying, Government/Legal, Australia

Australia’s recently seated prime minister, Julia Gillard, is just now talking about a “cash for clunkers’ program when most other countries ended theirs ages ago. Yet for Gillard, the program isn’t about stimulating car sales but rather about stimulating the Earth: Gillard wants to get about ten percent of Oz’s two million pre-1995 vehicles off the roads.

The mechanics of the program are largely the same as they were in the States, the new stipulation being that purchasers need to buy an “extra-efficient vehicle” like a Holden Cruze, Hyundai Getz or Toyota Camry Hybrid. The rebate is $AUS 2,000 – $1,790 Yankee bucks – and the program has been funded with $AUS 394 million (around $356M USD) and runs from January 1, 2011 until December 31, 2014.

[Source: The Australian]

Australia launching ‘Cash For Clunkers’ modeled on U.S. program? originally appeared on Autoblog on Mon, 26 Jul 2010 17:28:00 EST. Please see our terms for use of feeds.

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