Automotive Press Releases

Arkansas Court of Appeals Upholds $1.2M Verdict for Driver Injured Because of Hankook Tire Tread Defect
May 22, 2020

HOUSTON and OCALA, Fla., May 22, 2020 /PRNewswire/ -- Trial lawyers at Kaster, Lynch, Farrar & Ball (KLF&B) won an important Arkansas Court of Appeals ruling, upholding a $1.2 million product defect verdict against Hankook Tire Company and its U.S. subsidiary, as well as sanctions against Hankook and an awarding of attorney fees. The May 20 decision involved an Arkansas truck driver seriously injured in a crash caused by a defective Hankook tire.

Foundation Auto Acquires New Gems In Fairfield, Texas
May 22, 2020

HOUSTON, May 22, 2020 /CNW/ - Foundation Automotive, announces the acquisition of the Freestone Auto Group in Fairfield, Texas. Foundation will leverage Freestone's local roots to expand their Central Texas footprint. Freestone has a long-standing, and award-winning history for selling the domestic brands of Ford, Chrysler, Dodge, Jeep, RAM, Chevrolet and custom commercial trucks.

Foundation Auto Acquires New Gems In Fairfield, Texas
May 22, 2020

HOUSTON, May 22, 2020 /PRNewswire/ - Foundation Automotive, announces the acquisition of the Freestone Auto Group in Fairfield, Texas. Foundation will leverage Freestone's local roots to expand their Central Texas footprint. Freestone has a long-standing, and award-winning history for selling the domestic brands of Ford, Chrysler, Dodge, Jeep, RAM, Chevrolet and custom commercial trucks.

Cooper Standard Appoints Three New Members to Board of Directors
May 22, 2020

NORTHVILLE, Mich., May 22, 2020 /PRNewswire/ -- Cooper Standard (NYSE: CPS) today announced the appointment of three new members to its board of directors: John G. Boss; Richard J. Freeland; and Adriana E. Macouzet-Flores.

TrueCar Extends Financial Support to Dealer Partners into June
May 21, 2020

SANTA MONICA, Calif., May 21, 2020 (GLOBE NEWSWIRE) -- TrueCar, Inc. (NASDAQ: TRUE), the most efficient and transparent online destination to find a car, announced today the continuation of financial payment relief for its dealer customers through June. In states where its pay-per-sale or performance-based billing arrangements are not currently available, the company will automatically reduce subscription invoices by 25%. This June discount follows the previously announced 50% reductions to those dealers’ April and May invoices.

View original content with multimedia: http://www.globenewswire.com/news-release/2020/05/21/2037355/0/en/TrueCar-Extends-Financial-Support-to-Dealer-Partners-into-June.html?f=22&fvtc=5&fvtv=30011344
America's Car-Mart Reports Diluted Earnings per Share of $1.35 on Record Revenues of $196 Million
May 21, 2020

BENTONVILLE, Ark., May 21, 2020 (GLOBE NEWSWIRE) -- America’s Car-Mart, Inc. (NASDAQ: CRMT) today announced its operating results for the fourth quarter and the full fiscal year 2020. The fourth quarter results include an $11.7 million pretax charge to increase the allowance for credit losses due to the COVID-19 pandemic.

View original content with multimedia: http://www.globenewswire.com/news-release/2020/05/21/2037340/0/en/America-s-Car-Mart-Reports-Diluted-Earnings-per-Share-of-1-35-on-Record-Revenues-of-196-Million.html?f=22&fvtc=5&fvtv=30011344
Exide Technologies Announces Court Approval of First Day Motions Allowing Business Operations to Proceed in Ordinary Course
May 21, 2020

MILTON, Ga., May 21, 2020 /PRNewswire/ -- Exide Technologies ("Exide" or the "Company"), a global provider of stored energy solutions, today announced that customary first day motions to help facilitate continued operations in the ordinary course of business while the Company operates in Chapter 11 were approved by Judge Christopher S. Sontchi of the U.S. Bankruptcy Court for the District of Delaware.

Cooper Standard Announces Pricing of $250 Million of Senior Secured Notes
May 21, 2020

NORTHVILLE, Mich., May 21, 2020 /PRNewswire/ -- Cooper-Standard Holdings Inc. (NYSE: CPS) ("Cooper Standard," "Company" or "we") today announced the pricing of the private offering by its wholly-owned subsidiary, Cooper-Standard Automotive Inc. (the "Issuer"), of $250.0 million in aggregate principal amount of 13.000% senior secured notes due 2024 (the "Notes"). The Notes will be senior secured obligations of, and will be guaranteed on a senior secured basis by, CS Intermediate HoldCo 1 LLC and each of the Issuer's subsidiaries that are guarantors under the Issuer's senior secured term loan facility. The Notes will also be guaranteed on a senior unsecured basis by Cooper-Standard Latin America B.V., which will also guarantee the Issuer's senior secured term loan facility. The Notes offering is expected to close on May 29, 2020, subject to customary closing conditions.

DSP Concepts Launches AWE Core OS
May 21, 2020

SANTA CLARA, Calif., May 21, 2020 /PRNewswire/ -- Today, DSP Concepts announced the launch of AWE Core OS, a brand new variant of the audio-processing engine at the heart of its Audio Weaver platform, optimized for multi-core development. AWE Core OS finally gives embedded audio engineers the freedom to move audio processing to the main SOC without fear of running out of CPU resources on a single core. By removing these limitations, developers and manufacturers can dramatically reduce the costs and components typically required for audio products.

The Audrain Automobile Museum Announces That The Nicholas Begovich Collection Has Been Acquired For Future Display
May 21, 2020

NEWPORT, R.I., May 21, 2020 /PRNewswire/ -- As part of its mission to "Preserve, Celebrate and Share Automotive History", the Audrain Automobile Museum announced today that the Nicholas Begovich Collection has been acquired for future display with the Museum's collection in Newport.

Mazda Begins Providing Virtual Racing Car, Mazda RX-Vision GT3 Concept Online
May 21, 2020

HIROSHIMA, Japan, May 21, 2020 /CNW/ - Mazda Motor Corporation has announced the release of our virtual racing car, "Mazda RX-Vision GT3 Concept." Jointly developed with Polyphony Digital Inc., the vehicle will be available for download in Gran Turismo Sport on May 22, 2020(1). The RX-Vision GT3 Concept is our newest virtual race car in Sony Interactive Entertainment's PlayStation(®)4 driving simulation title, Gran Turismo Sport, and we hope that all players will enjoy taking it for a spin.

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