Stellantis Financial Services has secured a default judgment worth more than $5.4 million against Iowa-based Sky Auto Mall, bringing a months-long dealership financing dispute closer to an end.
Stellantis accused Sky Auto Mall of using the same vehicles to obtain financing from more than one lender, a practice commonly known in auto retail as “double flooring.” Stellantis filed suit in March against the dealership and owners Igor, Yelena and Alex Tovstanovsky.
According to Car Dealership Guy, Stellantis alleged that Sky Auto Mall borrowed against vehicles through multiple lenders, including Ford, while moving vehicles between its Newhall and Center Point locations. The company claimed the transfers helped conceal duplicate financing.
Court Awards Stellantis More Than $5.4 Million
The latest ruling was not the result of a trial. Sky Auto Mall failed to respond to the lawsuit, allowing the court to enter judgment by default…