Retail

Penske Automotive says earnings improved 4.5% in Q4; stock rises

11:35 am U.S. ET | Feb. 11, 2016

Penske Automotive today posted mixed results for the fourth quarter as earnings from continuing operations improved but net income fell. The company said continuing operations income rose 4.5 percent to $73 million, but net income dropped 2.6 percent to $71.3 million.... Read More »

Group 1 adjusted earnings fall in Q4; Brazil hurts bottom line

7:30 am U.S. ET | Feb. 11, 2016

Group 1's revenue increased in the fourth quarter, thanks to higher sales volumes in the U.S. and the United Kingdom, but its profit in the final three months of the year declined because of tighter margins on new cars, especially luxury vehicles.... Read More »

VIDEO: A Q&A with Richfield Bloomington Honda’s Tim Carter

12:01 am U.S. ET | Feb. 11, 2016

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Q&A with Richfield Bloomington Honda's Tim Carter

Heated floors and more: Designing a store around service

11:00 am U.S. ET | Feb. 11, 2016

Richfield Bloomington Honda General Manager Tim Carter and his employees helped design a new, three-story dealership next door to their current store in suburban Minneapolis. Carter discussed the new dealership and its focus on service business with Automotive News TV Editor Tom Worobec.... Read More »

VIDEO: High on service: Inside the towering Richfield Bloomington Honda

12:01 am U.S. ET | Feb. 11, 2016

General Manager Tim Carter needed more room to repair cars. So he and his crew mapped out what they needed in a new dealership. Despite space constraints, the number of service bays and floors soared at Richfield Bloomington Honda in suburban Minneapolis – a store where efficiency reigns and high-end touches benefit employees and customers.... Read More »

AUTOMOTIVE NEWS EUROPE E-MAGAZINE

Porsche's new sales boss predicts continued growth after record 2015

Feb. 11, 2016 06:01 CET

Porsche easily surpassed its goal of 200,000 annual global sales last year and can now look forward to another year of worldwide growth, Detlev von Platen, the brand's new sales boss, told Automotive News Europe.... Read More »

Faurecia raises dividend after sales, margins climb

Feb. 11, 2016 11:24 CET

French supplier Faurecia today reported an increase in its operating margin for the second half of 2015 to 4.8 percent and raised its dividend for the year by 86 percent.... Read More »

NICK GIBBS

BLOG: Ford can boost Europe profits by adding upscale Vignale SUVs

12:01 am U.S. ET | Feb. 11, 2016

Ford of Europe isn't saying which models will next get its upscale Vignale trimline but the brand's two largest SUVs are the top candidates as the automaker plans to expand its Vignale variants to at least five by 2017 from just two now.... Read More »

About 1 in 5 U.S. vehicles has open safety recall, Carfax says

4:21 pm U.S. ET | Feb. 10, 2016

Nearly one in five vehicles on U.S. roads is in need of repair of a safety issue serious enough to be involved in a federal government recall, according to used-car history provider Carfax.... Read More »

HANNAH LUTZ

BLOG: When a client dies, lender can make or break trust

11:00 am U.S. ET | Feb. 10, 2016

A consumer's death during his or her lease term isn't a common occurrence, but how the lender responds to the needs of the consumer's family members makes a lasting impression.... Read More »

CU Direct's network ranks third, again, in auto-loan originations

11:00 am U.S. ET | Feb. 10, 2016

Credit unions on CU Direct's lending network originated a record 1.06 million auto loans in 2015, up 13 percent. For the second straight year, the CUDL network was the nation's third-biggest lender based on auto loan originations, trailing only Ally and Wells Fargo.... Read More »

Death and leases: The challenge of helping a grieving family

11:00 am U.S. ET | Feb. 10, 2016

When a lease customer dies during his or her term, what happens to the contract? Mercedes-Benz Financial has simplified the required steps for grieving family members.... Read More »

Leasing on rise and being 'done right,' says Cox economist

10:00 am U.S. ET | Feb. 10, 2016

Although leasing is on the rise, it is “leasing done right” this time, in contrast to “leasing done wrong” in 1999 when leases last peaked and ultimately damaged residual values dramatically, Tom Webb, Cox Automotive chief economist, writes in the Manheim 2016 Used Car Market Report released Monday.... Read More »

BMW drops to 3rd place in global luxury sales race during January

6:30 am U.S. ET | Feb. 10, 2016

BMW lost ground in the luxury-car sales race in January, dropping to third place as Mercedes-Benz moved closer to a goal of unseating its rival this year.... Read More »

BMW drops to third place in luxury sales race during January

Feb. 10, 2016 11:56 CET

BMW lost ground in the luxury-car sales race in January, dropping to third place as Mercedes moved closer to a goal of unseating its rival this year.... Read More »

Nissan profit boosted by strong U.S. demand

4:28 am U.S. ET | Feb. 10, 2016

Nissan reported a 24 percent increase in operating profit in the latest quarter on the back of booming North American sales and cost cutting.... Read More »

GM awards more business to ad agency Commonwealth

10:24 am U.S. ET | Feb. 9, 2016

Ad agency Commonwealth/McCann has added some more business from General Motors at the expense of Leo Burnett.... Read More »

Google's autonomous tech can be considered driver under federal law, NHTSA says

8:12 pm U.S. ET | Feb. 9, 2016

U.S. vehicle safety regulators have said the artificial intelligence system piloting a self-driving Google car could be considered the driver under federal law, a major step toward ultimately winning approval for autonomous vehicles on the roads.... Read More »

GM mobilizes to build more small pickups

3:44 pm U.S. ET | Feb. 9, 2016

General Motors will increase production of the Chevrolet Colorado midsize pickup, which has been in tight supply since its debut 18 months ago, a company executive said today.... Read More »

Mercedes is not chasing luxury sales lead at any price, Zetsche says

Feb. 9, 2016 11:29 CET

Daimler CEO Dieter Zetsche says Mercedes will not sacrifice margins in its quest to overtake rival BMW and become the world's best-selling luxury brand.... Read More »

Outstanding auto loans hit record

2:54 pm U.S. ET | Feb. 9, 2016

The outstanding U.S. auto-loan balance climbed to a record $987 billion in the fourth quarter on rising vehicle sales, Experian Automotive said in part one of its quarterly State of the Automotive Finance Market report. Finance companies and credit unions led the increase.... Read More »

Porsche CEO says profits will be hit by EV investment

Feb. 9, 2016 11:02 CET

Porsche is bracing for smaller profit gains in the future as the sports-car maker steps up spending on models such as its first EV, CEO Oliver Blume said.... Read More »

Compliance, accuracy trump F&I speed

12:01 am U.S. ET | Feb. 8, 2016

Speeding customers through the F&I process is often a top priority for dealerships as they strive for higher customer satisfaction. But F&I insiders caution that speed should not shortchange compliance.... Read More »

JASON STEIN

Canada, fixed ops: Here we come!

12:01 am U.S. ET | Feb. 8, 2016

Twenty years ago this week, Automotive News Europe was born. Now we are opening new doors, this time on this continent and in two very different sides of the industry.... Read More »

VINCE BOND JR.

BLOG: Hyundai's Super Bowl blitz scored big

4:00 pm U.S. ET | Feb. 8, 2016

Hyundai wanted to make a splash in its first Super Bowl as the NFL's automotive sponsor, but it didn't just throw money around with reckless abandon.... Read More »

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