DaimlerChrysler, Ford Motor Company and General Motors announced their return to car leasing in New York State the same day President Bush signed a federal highway bill that included a provision ending the state’s vicarious liability, a legal concept that holds a leasing company liable for the actions of a negligent driver.
Car manufacturers say the bill signing heralds the likely return of 20 manufacturers, banks and finance companies that exited leasing in New York because of the old law. Buick, Cadillac, Chevrolet, Chrysler, Dodge, Ford, GMC, Hyundai, Jeep, Lincoln, Mazda, Mercury, Pontiac, Porsche, Saab, Saturn, and Subaru are all expected to start leasing again soon in New York State.
The passage of the bill ended a long-running battle with the trial lawyers who supported vicarious liability and brings New York in line with the other states that have eliminated it.
Was this article valuable?
Here are more articles you may enjoy.
German Insurtech Wefox to Replace CEO After Board Rejects Mubadala Sales Plan 
A $29 Billion Weed Market Fights to Diversify Amid Legal Hurdles 
Farmers Adjusters Cry Foul Over Workloads, Claims Handling in Letter to Regulators 
‘Great Resignation’ Enters Third Year as Workers Embrace AI, Upskilling, PwC Says From This Issue
