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Automotive Industry Newswire

Monthly payments, loan terms up in Q2, Experian says

Thu, 27 Aug 2015 13:49:32 EST

The average monthly payment increased and new-vehicle loan terms grew during the second quarter as average U.S. transaction prices for new cars and light trucks rose, Experian Automotive reported today.

Sales may dip for first time in 19 months

Thu, 27 Aug 2015 13:00:00 EST

Monthly U.S. auto sales are expected to fall for the first time in 19 months in August, but analysts say it's a blip caused by a later-than-usual Labor Day rather than a softening of consumer demand.

China's luxury shoppers hit pause amid roiling markets

Thu, 27 Aug 2015 07:40:49 EST

The rout in China stocks is posing another threat to the world's biggest car market, jeopardizing growth plans for companies from Volkswagen AG to General Motors.

Tesla Model S breaks Consumer Reports' test scale

Thu, 27 Aug 2015 06:43:23 EST

Tesla's high-performance Model S P85D scored a 103 on Consumer Reports' ratings scale meant to top out at 100, forcing the magazine to recalibrate its ratings.

Global carmakers rework India plans

Thu, 27 Aug 2015 06:01:03 EST

Leading global carmakers including VW, GM, Nissan and Renault are reviewing their plans in India as they seek to boost sales, avoid more cutbacks, and better compete against market leaders Maruti Suzuki, Hyundai and Mahindra.

Loan terms for used vehicles grow as inventory becomes 'younger, pricier'

Wed, 26 Aug 2015 13:45:00 EST

Loan terms on used cars and light trucks are ticking up as those vehicles, on average, become 'younger and pricier,' according to Edmunds.com. The average loan term on a used vehicle stretched to 66.2 months in the second quarter, up 1.

S.C. Nissan store 'acted in bad faith,' state high court says

Wed, 26 Aug 2015 12:15:00 EST

The South Carolina Supreme Court reinstated a $19,963 judgment against a Nissan store for bad faith in its handling of the financing for a used 2005 Mazda6.

Electronic FandI boosts customer satisfaction, study finds

Wed, 26 Aug 2015 12:15:00 EST

For higher customer satisfaction and more referrals, dealers should incorporate electronic components into the FandI process, a study by FandI Express and Make My Deal found.

Dealers urged to polish fair lending practices as CFPB rule looms

Wed, 26 Aug 2015 12:15:00 EST

Dealers, learn your lenders' fair lending policies and polish your own. That's legal experts' advice to retailers looking to prepare for the Consumer Financial Protection Bureau's larger participant rule, which takes effect Aug. 31.

Ferrari returns to India with California T, new dealers

Wed, 26 Aug 2015 05:40:07 EST

Ferrari is renewing its Indian market push with two new dealers and the introduction of the California T convertible after terminating earlier dealerships for reasons including dissatisfaction with service levels.

Hyundai concept will showcase brand's performance credentials

Wed, 26 Aug 2015 05:07:19 EST

Hyundai is trying to burnish its performance credentials and will unveil an 'ultimate concept car' at next month's Frankfurt auto show that expands on the company's sporty N subbrand and showcases racing design.

China meltdown has burned global carmakers

Tue, 25 Aug 2015 15:45:56 EST

When a chemical warehouse in Tianjin, China, exploded this month, destroying some 10,000 parked vehicles, cynics suggested that the disaster might actually be for the best, given the massive glut of unsold cars sitting on Chinese lots.

VW Group July vehicle sales fall 3.7% on weak China, Russia

Tue, 25 Aug 2015 13:30:31 EST

Volkswagen's group vehicle sales fell 3.7 percent in July, hurt by weak markets in China, Russia and Brazil and falling volume at the core VW brand.

New car technologies often unused by drivers, J.D. Power finds

Tue, 25 Aug 2015 13:00:00 EST

A new study from J.D. Power suggests that automakers are investing billions into technologies that a considerable number of drivers aren't using. J.D.

VW's Seat brand will drop Altea minivan in move to SUVs

Tue, 25 Aug 2015 00:01:00 EST

Volkswagen Group's Seat unit will discontinue its Altea and Altea XL compact minivans as the brand begins to add a family of SUVs.

Land Rover pumps up for Rugby World Cup

Tue, 25 Aug 2015 00:01:00 EST

In 'We Deal in Real,' Land Rover captures the intensity of the aggressive sport with a supercut of tackles, runs and feats of strength.

Why gasoline is both incredibly cheap and absurdly expensive

Mon, 24 Aug 2015 15:03:10 EST

Filling up with gasoline in the U.S. is the cheapest it's been in a decade and yet way too expensive.

Market slump casts shadow over how U.S. sales will finish August

Mon, 24 Aug 2015 14:45:00 EST

Slumping stock markets could make it tough for dealerships to hit their August targets for U.S. new-vehicle sales, rattling consumers who might be on the fence about making a big purchase. The broad declines in U.S.

Mercedes won't end Saints stadium pact with new 27-year Falcons deal

Mon, 24 Aug 2015 14:19:21 EST

Mercedes-Benz doesn't have an option to end its naming rights agreement with the New Orleans Superdome and will now sponsor the stadiums for two NFL teams in the same division.

Daimler still positive on China business despite stock market rout

Mon, 24 Aug 2015 09:36:07 EST

Mercedes-Benz owner Daimler is counting on China to be a leading driver of car sales growth this year despite the country's stock market turmoil.

Cruise extravaganza is a dream for Dodge

Mon, 24 Aug 2015 00:01:00 EST

When affordable performance rides are your bread and butter, the Dream Cruise is a marketing bonanza, says Dodge boss Tim Kuniskis, whose brand is on a on a big performance kick.

Mobility for Tesla? Musk isn't saying -- or is he?

Mon, 24 Aug 2015 00:01:00 EST

What's behind that eye-popping new share price outlook Morgan Stanley analyst Adam Jonas put on Tesla? Bloomberg reports that the key reason for raising the target to $465 from $280 (the stock closed at $255.25 on Aug.

Toyota will ban ads below invoice

Mon, 24 Aug 2015 00:01:00 EST

Toyota is preparing to ban dealerships from advertising vehicles at below-invoice prices, in line with a similar policy at Honda. Toyota-brand dealers are giving the plan mixed reviews.

Tech-savvy teens help buyers learn how to use car features

Mon, 24 Aug 2015 00:01:00 EST

Teenagers' addiction to their smartphone may be annoying to parents and teachers, but it makes them perfect candidates to work for Quirk Ford.

Shelby takes its muscle overseas -- and to the mall

Mon, 24 Aug 2015 00:01:00 EST

Shelby American will take its performance brand to China and other world markets

Getting behind the gap in public, private dealership profits

Mon, 24 Aug 2015 00:01:00 EST

Publicly traded dealership groups' reported first-half profits were much higher than what private dealerships reported to the National Automobile Dealers Association. Here's why.

Prius' dramatic redesign comes into focus

Mon, 24 Aug 2015 00:01:00 EST

New spy shots reveal a dramatic front and rear design of the redesigned 2016 Toyota Prius, set to debut in Las Vegas on Sept. 8.

Despite growth, some dealers grumble

Mon, 24 Aug 2015 00:01:00 EST

NADA's latest dealer attitude survey found Volkswagen, Infiniti and Mini dealers were the most disgruntled, while Lexus, Toyota, Subaru, Audi and Ford dealers were the most upbeat overall.

Dealers

Mon, 24 Aug 2015 00:01:00 EST

Michael Schmitz, principal owner of Hyundai of Dothan in Dothan, Ala., receives a 25-year award from Dave Zuchowski, CEO of Hyundai Motor America.

Europe sales advance 9% in July as economies rebound

Mon, 24 Aug 2015 00:01:00 EST

European new-car registrations rose 9.1 percent in July as recession-hit countries such as Portugal and Ireland, along with the major markets of Germany, the UK, France and Italy, performed strongly.

Edmunds tool speeds price data

Mon, 24 Aug 2015 00:01:00 EST

Edmunds.com has launched a tool that it says will increase the transparency of car-buying.

Rare mascots are something to crow about

Mon, 24 Aug 2015 00:01:00 EST

Du Pont Motors represented a fairly significant portion of awesome mascots - that's hood ornaments - on the show field at Pebble Beach. There were a handful of rare, coveted Lalique eagles on display, along with one Lalique rooster

Cox working way toward broader role in auto retail

Mon, 24 Aug 2015 00:01:00 EST

Cox Automotive, parent of Autotrader.com, Kelley Blue Book and other well-known brands, wants to cross-pollinate its units' tools.

Connecticut offers EV rebates to jolt sales

Sun, 23 Aug 2015 00:01:00 EST

In May, Connecticut became the first state to offer cash-on-the-hood rebates to customers who buy EVs or plug-in hybrids, such as the Nissan Leaf, Chevrolet Volt or and Ford C-Max Energi.

AutoNation bets on FCA, smaller markets

Sun, 23 Aug 2015 00:01:00 EST

AutoNation is on pace for its biggest acquisition year since 1999, and CEO Mike Jackson expects to make at least one more dealership purchase this year.

Amid sales decline, Dodge boss sees a plan coming together

Sat, 22 Aug 2015 00:01:00 EST

With Dodge's U.S. sales off 16 percent this year in a rising overall market, you could argue brand chief Tim Kuniskis should be worried.

Toyota plans Olympic all-stars, report says

Sat, 22 Aug 2015 00:01:00 EST

Toyota will capitalize on its sponsorship of the 2020 Olympics by launching a string of new models tied to the games, including a taxi and fuel cell cars, a Japanese magazine reported.

Tesla revamps retail stores, adds apparel, gear

Sat, 22 Aug 2015 00:01:00 EST

Tesla Motors is launching a wholesale revamp of its stores worldwide as the electric-car company prepares to introduce the Model X, its first SUV.

North America churning out vehicle records

Sat, 22 Aug 2015 00:01:00 EST

Production of cars and trucks in North America is running at historic levels. In July, 1,382,380 vehicles were produced, an increase of 6.9 percent and a new record for the month.

Oil prices, in boon to truck sales, fall below $40 a barrel as glut spreads

Fri, 21 Aug 2015 17:12:31 EST

Oil prices on Friday plunged below $40 a barrel in New York for the first time in more than six years, extending the longest decline since 1986 on concern lower demand and growth will prolong a global glut.

Mercedes to hang 3-pointed star on new home of Atlanta Falcons, report says

Fri, 21 Aug 2015 13:15:00 EST

Mercedes-Benz is poised to secure the naming rights to a new stadium for the NFL's Atlanta Falcons, according to a report.

Tesla to install charging stations at 30 high-end Airbnb properties

Fri, 21 Aug 2015 09:51:09 EST

Tesla is providing charging stations to Airbnb hosts on the West Coast as part of a partnership with the home-sharing startup.

Zetsche mulls cooperation with Apple, Google, report says

Fri, 21 Aug 2015 08:03:52 EST

Daimler's CEO said "different types" of cooperation with Apple and Google are possible as carmakers realize next-generation autos cannot be built without greater input from telecoms and software experts.

Why the Chinese market rout is hitting global auto brands

Fri, 21 Aug 2015 05:04:32 EST

The Chinese government's decision to allow small- and medium-sized businesses to list on the stock market produced a rout that wiped out the wealth of middle-class consumers, the main customers for global automakers.

Why the Chinese market rout is hitting global auto brands

Fri, 21 Aug 2015 05:04:32 EST

The Chinese government's decision to allow small and medium-sized businesses to list on the stock market produced a rout that wiped out the wealth of middle-class consumers, the main customers for global automakers.

Jeep to serve as popemobile when pontiff visits U.S.

Thu, 20 Aug 2015 18:59:46 EST

Pope Francis will use a modified Jeep Wrangler as his popemobile when he visits the United States in late September.

How Daimler's Car2go could transform how New Yorkers get around town

Thu, 20 Aug 2015 15:55:07 EST

As residents of Brooklyn and Queens know all too well, not having a car makes it difficult to get from one borough to the other.

Dealertrack to sell inventory-management business to clear way for Cox merger

Thu, 20 Aug 2015 09:15:00 EST

Dealertrack Technologies has moved to clear a regulatory impediment to its merger with Cox Automotive by agreeing to sell its inventory-management software business to DealerSocket for $55 million in cash.

Renault-Nissan will cut jobs, production in India

Thu, 20 Aug 2015 06:32:42 EST

Renault-Nissan plans to cut several hundred jobs in India and reduce production at its plant near Chennai.

Schaeffler will cut 500 jobs as first-half earnings drop nearly 2%

Thu, 20 Aug 2015 05:04:30 EST

Schaeffler plans to cut up to 500 jobs in Europe at its industrial division. Earnings at the unit, which makes ball bearings for cars, airplanes and industrial tools, fell 1.7 percent to 171 million euros ($190 million) in the first six months.