Retail

AutoNation says Q1 net income rose 15% to $95.1 million

7:11 am U.S. ET | April 17, 2014
Despite 10 weeks of problematic winter weather to start the year, a late March rebound in dealership traffic helped drive AutoNation's net income 15 percent higher in the first quarter of 2014 from the year-earlier period, the company said today.... Read More »

 

AutoNation stepping away from third-party leads

7:15 am U.S. ET | April 17, 2014
AutoNation, tired of paying high prices for online leads, plans to de-emphasize third-party lead providers such as TrueCar, AutoTrader.com and Cars.com, CEO Mike Jackson says. He says he will strengthen AutoNation's Web site and digital presence to build traffic and sales.... Read More »

 

Lincoln maps out China retail strategy

5:00 am U.S. ET | April 17, 2014
Lincoln set up a showcase called The Lincoln Space in a busy pedestrian area of central Beijing today to outline its strategy for entering the world's largest auto market. An initial presence of eight dealerships in seven cities this fall will grow to 20 stores by the end of the year.... Read More »

 

European car sales rise 10% as replacements help automakers

April 17, 2014 09:08 CET
European car sales jumped 10 percent in March, the seventh consecutive monthly gain, as new models to replace aging vehicles and an economic rebound boosted demand. First-quarter sales rose 8 percent.... Read More »

 

AUTOMOTIVE NEWS EUROPE E-MAGAZINE

BMW dealers with Product Geniuses boost profit and customer satisfaction

April 17, 2014 06:15 CET
BMW dealers in Europe taking part in the automaker's Product Genius program are getting a financial boost. The tech-savvy employees' no-pressure explanation of the features available in BMW's vehicles has boosted the purchase of high-margin options by 10 percent to 15 percent, the company said.... Read More »

 

GM sets up new parts-ordering system for recall repairs

4:10 pm U.S. ET | April 16, 2014
GM today gave its dealers a revised ordering process that the retailers said should speed the shipment of parts, ease repairs and ensure the job gets done right. But dealers said they aren't any closer to knowing when they will start getting parts for the millions of vehicles involved in an ignition-switch recall.... Read More »

 

JIM HENRY

Inquiry into alleged CFPB bias picks up steam

12:01 am U.S. ET | April 16, 2014
The issue of whether, ironically, the Consumer Financial Protection Bureau allegedly discriminates against its own employees has got legs.... Read More »

 

LINDSAY CHAPPELL

Brace yourself for 'velocity'

1:06 pm U.S. ET | April 16, 2014
There’s a new buzzword trending through the car business right now: velocity. It has been popping up in conversations and presentations for a while, and is on the lips of visitors here at the New York auto show. And it might be a good thing.... Read More »

 

NADA's fixed-rate plan gets lawyers' backing

12:01 am U.S. ET | April 16, 2014
The National Automobile Dealers Association's program for dealerships to establish a fixed rate for dealer reserve was strongly endorsed by legal experts at the Automotive Resource Network conference in New York this week.... Read More »

 

Ally IPO opens new options for subprime car loans

12:01 am U.S. ET | April 16, 2014
Ally Financial's initial public offering last week benefits dealers because Ally expects to be able to compete more aggressively for subprime business after it sheds government ownership.... Read More »

 

Subprime lender adds markets, resists looser standards

12:01 am U.S. ET | April 16, 2014
Subprime auto lender Consumer Portfolio Services is resisting a trend among some of its rivals to push “too aggressively” to loosen credit standards, CEO Charles Bradley says.... Read More »

 

2014 NEW YORK AUTO SHOW

Hyundai goes mild with 2015 Sonata makeover

10:15 am U.S. ET | April 16, 2014
Hyundai is tweaking the recipe that made the Sonata one of the industry's hottest mid-sized sedans in recent years with a makeover for 2015 that is more mild than spicy. The redesigned 2015 Sonata, introduced at the New York auto show today, will offer more technology and safety equipment than the outgoing model.... Read More »

 

RICHARD TRUETT

Why the Mustang II should get its due

12:01 am U.S. ET | April 16, 2014
One member of the Mustang family won't have a very high-profile role at this week's 50th anniversary celebrations: the 1974-78 Mustang II. But if you reconsider the case of the Mustang II, you may find it is time to give the car the respect it is due.... Read More »

 

Ghosn sees 'bright spots' for carmakers as Europe revives

April 16, 2014 07:23 CET
Global carmakers will see rising demand this year as sales in China and the United States expand and Europe starts to grow again, Renault-Nissan CEO Carlos Ghosn said.... Read More »

 

AUTOMOTIVE NEWS EUROPE E-MAGAZINE

China's Qoros uses Slovakia to prepare for a full European roll out

April 16, 2014 06:15 CET
Chinese automaker Qoros is using Slovakia as its first global export market with the goal of rolling out the brand across western Europe within two years.... Read More »

 

THE GM RECALL

GM will update dealers Wednesday on recall parts status

4:10 pm U.S. ET | April 15, 2014
General Motors told dealers it will hold a Web conference on Wednesday to update them on the status of parts needed to repair millions of small cars recalled for faulty ignition switches, as well as the procedures to follow for the recall.... Read More »

 

Pro-Tesla bill appears dead in Arizona Senate

10:33 am U.S. ET | April 15, 2014
A bill that would have allowed electric-vehicle maker Tesla Motors to sell cars at its factory-owned showrooms in Arizona appears to be dead in the state's Senate. But Tesla vowed today to continue "re-engaging" the Legislature next year on the matter.... Read More »

 

Ford of Europe sales rise 12% in March on German, UK demand

April 15, 2014 15:53 CET
Ford said European car sales increased 12 percent in March, the 10th straight monthly gain, as customers snapped up small vehicles and compact SUVs.... Read More »

 

PHILIP NUSSEL

A mixed message about GM's PR -- but why?

3:44 pm U.S. ET | April 15, 2014
If a company changes its head of public relations in the midst of a public relations crisis that stems from a recall crisis, does that not send a certain message? Yes, unless the company is General Motors.... Read More »

 

MyFord Touch bugs are getting squashed, Hinrichs says

3:10 pm U.S. ET | April 15, 2014
Ford has brought its problem-plagued MyFord Touch communications system up to exceed industry-average reliability -- and plans an upgrade to improve the system's capability, Ford executive Joe Hinrichs said today.... Read More »

 

DAVE GUILFORD

Autos' enthusiasm for emerging markets hits brakes

2:11 pm U.S. ET | April 15, 2014
Global automakers have jostled to position themselves for growth, particularly in the much-touted BRIC markets -- Brazil, Russia, India and China. But that growth formula has been looking a little less solid lately. Tension with Russia over the annexation of Crimea, with the prospect of stiffer trade sanctions, has rattled automakers' confidence.... Read More »

 

Customers' luxury motivation turns to self-reward, execs say

1:48 pm U.S. ET | April 15, 2014
The definition of luxury automotive brands, and the motivation of luxury-car shoppers, is changing from an outward-directed display of wealth to a self reward for a successful customer. That was the conclusion of a panel of luxury-brand executives at the NADA/J.D. Power Automotive Forum in New York today.... Read More »

 

Economists: Global GDP growth on the rise, but BRICs disappoint

11:14 am U.S. ET | April 15, 2014
The global economy will do “fairly well” in the coming years, with the United States economy leading the way, while Europe “has turned a corner,” a leading economist said.... Read More »

 

BMW i3 production boosted 43% in preparation for U.S. launch

April 15, 2014 13:05 CET
BMW has ramped up production of its i3 electric car to 100 vehicles a day, ahead of its launch in the United States this month, board member Harald Krueger said.... Read More »

 

AUTOMOTIVE NEWS EUROPE E-MAGAZINE

Opel will focus on crossovers to boost sales and return to profit, CEO says

April 15, 2014 06:15 CET
Opel will focus on crossovers as part of its product push to boost sales and return to profit, Opel CEO Karl-Thomas Neumann said.... Read More »

 

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