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Article: With vicarious liability gone, leasing returns to N.Y. Trial lawyers seek cases to challenge the liability ban.(car lease market research)
- Article from:
- Automotive News
- Article date:
- April 17, 2006
- Author:
CopyrightCOPYRIGHT 2006 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Harry Stoffer
Leases once made up about half of the new-vehicle business at Rushneck Honda-Subaru in Tarrytown, N.Y. Then they all but disappeared.
Now leases are back to about 35 percent of the dealership's new-vehicle transactions, says Bill Reilly, Rushneck's general sales manager.
A big reason for the deep dive and partial rebound: the rise and fall of vicarious liability. For years, the legal principle grew in prominence in courts of various states, including New York. But a federal law that took effect last year bans its application.
Vicarious liability enables a crash victim to collect damages from the owner of a vehicle ...