Sales for major U.S. auto makers sharply declined in July amid a modest slump in lease deals that have kept payments low, continuing an industry slowdown that has led to a glut of inventory on dealer lots and a spate of discounts.
NYS Entity Status
NYS Filing Date
MAY 29, 2013
NYS DOS ID#
NYS Entity Type
DOMESTIC BUSINESS CORPORATION
2013 - EXECUTIVE AUTO SALES & LEASING, INC.
AROUND THE WEB
- U.S. Auto Makers Report Steep Sales Declines in July
Tuesday Aug 1, 2017
- Uber planning to sell or consolidate car leasing program
By Olivia Zaleski - Tuesday Aug 8, 2017
The ride-hailing company’s board determined Xchange Leasing, a wholly owned subsidiary, is unsustainable and should be sold or consolidated into a smaller unit within Uber, according to a person familiar with the plans.Xchange currently offers 40,000 vehicles for lease through 14 showrooms in the U.S. As many as 500 jobs could be affected by the sale of the company, according to the Wall Street Journal, which reported the news Tuesday.Following a stream of controversies earlier this year, investors have urged the San Francisco company to consolidate its business and cut costs in preparation for an eventual public offering.[...] last week, the Wall Street Journal reported that Uber knowingly leased unsafe cars in Singapore that were prone to catch fire.Uber’s board, which is acting in the absence of a chief executive officer, decided to close out the Xchange program before they had been briefed on the safety matter in Singapore, according to the person familiar with the discussions.
- Auto companies hurting from latest rival — Amazon
By Josh Kosman - Thursday Jul 6, 2017
Shares of several auto parts retailers sputtered on Wednesday after one chain reported disappointing second-quarter sales gains. And while that chain, O’Reilly Automotive, blamed poor weather in the period for its lackluster revenue, an executive at a rival chain said the entire sector has been under pressure from newly armed online rivals like Amazon. “There...
- Uber’s auto leasing draws added scrutiny after safety issues
By Olivia Zaleski - Friday Aug 4, 2017
Uber said it took “swift action to fix the problem” after learning of the auto fire and worked with Singapore officials on its response.“We acknowledge we could have done more — and we have done so,” a spokesman for the company wrote in an email.Since the beginning of the year, we’ve proactively responded to six vehicle recalls and will continue to do so to protect the safety of everyone who uses Uber.In January, Uber paid $20 million to settle a U.S. Federal Trade Commission lawsuit, saying the company made false or misleading claims about its leasing program, among other alleged violations.
- Time Inc Taps Schraft To Head Foundry's Content Sales, 'New Yorker' Hires First Newsletter Director
Thursday Jul 13, 2017
In a move to expand its native advertising business, Time Inc. has promoted Chris Schraft to president of content sales and agency development of The Foundry, its branded content studio. 'The NewYorker' has hired Dan Oshinsky as its first director of newsletters.
- Trump moves to open more public land to drilling in California
By Kurtis Alexander - Thursday Jul 6, 2017
The Trump administration forged ahead with its commitment to boosting domestic fossil fuel production Thursday, directing more public lands to be opened for oil and gas extraction — a move that could bring new drill rigs to California.At minimum, the administration’s action will intensify the push by energy companies to broaden drilling across California’s prime oil country, in the interior Central Coast region and the southern San Joaquin Valley, and promises a new round of drawn-out conservation battles.About 12 million barrels of oil and 9 billion cubic feet of natural gas were produced through some 500 leases on public lands in the state in 2016, according to the Bureau of Land Management.[...] the oil industry has long complained that too much acreage is off limits — 10 percent of the state’s production is on federal land — and that environmental regulations governing drilling are unnecessarily cumbersome.“This executive order is a positive first step, but production on federal lands is a complicated process with oversight roles by a number of state and federal regulatory agencies,” said Rock Zierman, chief executive officer of the California Independent Petroleum Association.The American Petroleum Institute said the administration’s action would benefit the industry nationally, allowing it to invest in projects that would create jobs and benefit consumers through lower energy prices.“We’re coming off a Fourth of July weekend when a number of Americans are out enjoying their public lands, and here’s Zinke and Trump threatening to turn them into oil and gas fields,” said Hollin Kretzmann, staff attorney at the Center for Biological Diversity, a group that has opposed drilling in California.Speaking at a news conference in Washington, Zinke said the order was part of Trump’s broader “America first” energy policy, which has included several attempts to expand oil and gas development both onshore and off.Zinke criticized the Obama administration for putting off lease sales, saying the federal Mining Leasing Act requires quarterly auctions.A pair of lawsuits over the Bureau of Land Management’s lease sales are forcing the agency to redo the way in which it auctions drilling rights.