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NHTSA apologizes for mishandling Takata airbag recall information

The National Highway Traffic Safety Administration's top official apologized late Wednesday for publishing inaccurate information in its Monday warning about defective Takata airbags that may explode and for technical glitches that made its recall search page unavailable for much of the week. Read More »

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Dealers fume over new Edmunds videos that spoof price haggling

New YouTube ads from Edmunds.com have provoked a backlash. Some dealers say the four videos perpetuate stereotypes of dealers as unscrupulous bargainers. Edmunds says the ads are simply spoofs intended to show that customers dislike haggling. Read More »

U.S. prosecutors probe Takata over recalls

The recall of some 7.8 million vehicles with faulty Takata airbags that may explode attracted additional federal scrutiny Wednesday, with prosecutors launching a probe into the Japanese supplier and a U.S. House oversight committee calling for a review of the recalls. Read More »

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GABE NELSON:

Three factors in Daimler's $780M sale of Tesla stock

When Mercedes-Benz parent Daimler disclosed it had sold its 4 percent stake in Tesla Motors for a handsome $780 million, people naturally rushed for a simple explanation. Read More »

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UAW eyes bargaining rights at VW's Tenn. plant within a year

The UAW hopes to be recognized as the exclusive bargaining agent for workers at Volkswagen's assembly plant in Chattanooga within a year, union President Dennis Williams said Wednesday. Read More »

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Toyota says potential Mexico plant still far from approval

Toyota, the last major carmaker without a high-volume assembly plant in Mexico, said the group assessing whether to build a factory there is far from getting clearance from top management. Read More »

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AutoNews Now: Toyota, rivals tackle hacking

Consortium to focus on firewalls; airbag warning; BMW to lower Mini Cooper MPG; F-150 good for coffee, shotgun shells. Read More »

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Has the Hyundai Sonata lost its mojo after redesign?

The revamped Sonata sedan was supposed to help Hyundai Motor Co. reverse sluggish sales, but the car described by some critics as a bland substitute for its popular predecessor is off to a slow start in the key U.S. market. Read More »

List of 7.8 million vehicles involved in the Takata airbag recalls

Owners of the following vehicles are being urged to act immediately on recalls involving potentially defective airbags made by Takata, according to a corrected list distributed late Tuesday by the National Highway Traffic Safety Administration. Read More »

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BMW to lower mpg ratings on 4 Mini Cooper models

BMW is lowering the estimated fuel economy labels on four 2014 Mini Cooper models after tests by the EPA, the agency said today. The EPA completed a fuel economy audit on the Mini Cooper and found actual mpg lower than the figures BMW submitted for certification, a statement said. Read More »

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Gentex reports 30% surge in Q3 net income

Gentex, which makes a variety of automotive mirrors, cameras and electronic components, said today that its third quarter net income surged 30 percent from a year earlier, with total revenue jumping 22 percent. Read More »

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Delphi explores sale of thermal unit for as much as $1 billion, report says

Delphi Automotive, the former parts unit of General Motors, is exploring a sale of a business that makes heating and cooling systems for cars, and will seek as much as $1 billion for the unit, people with knowledge of the matter told Bloomberg. Read More »

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Sonic learns the importance of paperwork, staffing

In launching its One Sonic-One Experience initiative, Sonic Automotive had the technology, the store and the full attention of its top management committed to making it work. What it didn't have, in the finance and insurance office, were enough document specialists. Read More »

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Federal-Mogul posts Q3 loss on restructuring costs; revenue up 11%

Federal-Mogul reported a third-quarter net loss Wednesday because of restructuring and relocation costs. Read More »

Anderson named CEO at Exeter Finance

Subprime auto lender Exeter Finance Corp. named Thomas Anderson its CEO, succeeding Mark Floyd, who will continue to serve on the company's board of directors. Read More »

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Huntington, Fifth Third, Capital One target prime-risk auto loans

Some big banks in auto lending are responding to tougher competition by zeroing in on prime-risk loans. Huntington Bank and Fifth Third Bank are restricting lending to prime contracts only. In contrast, Capital One is controlling prime-risk costs as part of a broader lending strategy. Read More »

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JAMES B. TREECE:

Why loan length doesn’t matter

There’s another reason not to fret over longer new-car loans: The numbers can be misleading. Read More »

Consumer Portfolio grows, staffs up for tax-refund season

Consumer Portfolio Services increased auto originations 35 percent in the third quarter to $279.3 million, aided by a slowdown in subprime loans at competing lenders. Read More »

F&I TIP:

Embrace Gen Y's pride in exclusivity

To sell to Gen Y customers who think of themselves as unique, Gen Y consultant Jason Dorsey recommends F&I managers practice saying: “You have a unique situation. I'm going to get you something special that's one of a kind.” Read More »

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CHRISTIAAN HETZNER:

Why Daimler doesn't share investors' love affair with Tesla

Are Tesla shares overvalued? If you ask Daimler, investors have gotten ahead of themselves with their exuberant love for Elon Musk's EV carmaker. On Tuesday, Daimler decided to cash out on its 4 percent stake for the price of $780 million. Read More »

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CHRISTIAAN HETZNER:

Why Daimler doesn't share investors' love affair with Tesla

Are Tesla shares overvalued? If you ask Daimler, investors have gotten ahead of themselves with their exuberant love for Elon Musk's EV carmaker. On Tuesday, Daimler decided to cash out on its 4 percent stake for the price of $780 million in cash or about a half billion euros. Read More »

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Valeo's third-quarter sales rise 10% on fuel-saving technologies

French supplier Valeo said third-quarter sales rose 10 percent to 3.06 billion euros ($3.9 billion), boosted by demand for its fuel-saving technologies. Read More »

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First Shift: Urgent warning on airbags

U.S.: Act immediately on recalls; Toyota exec backs Takata; Daimler sells Tesla stake; Viper plant to reopen; SEMA preview. Read More »

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Italy's Sogefi reports nine-month net loss of 5.8 million euros

Italian supplier Sogefi reported a net loss of 5.8 million euros ($7.4 million) for the first nine months of the year and said CEO Guglielmo Fiocchi would leave the company. Read More »

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PSA's third-quarter auto revenue drops despite pricing push

PSA/Peugeot-Citroen's group revenue rose 1.6 percent in the third quarter, but a push to raise pricing failed to deliver higher revenue at its manufacturing arm. The company raised its full-year car-market forecast for Europe. Read More »

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Fiat's Wall Street trading is flat as Milan dominates

Fiat Chrysler Automobiles has had a flat reception on the New York Stock Exchange after its debut there last week. European trading in Milan is currently about 7 times that of Wall Street, despite FCA shifting its primary listing to the U.S. Read More »

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Daimler's surprise sale of Tesla stake fuels rivalry speculation

Daimler's decision to sell its 4 percent stake in Tesla Motors surprised investors and fueled speculation of a growing rivalry in the increasingly competitive electric car market. Read More »

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GM will warn some Saab, Pontiac owners not to allow front passengers

General Motors will warn some owners of Saab 9-2X and Pontiac Vibe hatchbacks in the U.S. not to allow front-seat passengers until defective air bags are replaced as part of a wider recall that involves 6.1 million cars. Read More »

EU says Honeywell, DuPont car refrigerant deal may be illegal

The EU says auto supplier Honeywell's joint venture with chemicals company DuPont to produce an air conditioning refrigerant for cars may be anti-competitive as the deal may have blocked rivals keen to participate in the chemical's development. Read More »

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Toyota executive backs Takata’s handling of airbag crisis

A top Toyota executive offered support for how airbag maker Takata is handling a safety crisis affecting millions of vehicles, days after expanding its own recalls for the second time in four months. Read More »

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NHTSA expands faulty airbag warning to 7.8 million vehicles

Auto safety regulators, for the second time late Tuesday, expanded their warning to owners of vehicles recalled for defective Takata airbags, urging them to get the airbags replaced. Read More »

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Mich. blocks Tesla's sales model by plugging loophole

Michigan Governor Rick Snyder signed a bill today that effectively bars Tesla Motors' direct-sales model in the state. Read More »

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Auto industry forming consortium to fight hackers

Automakers are forming a consortium to deter hackers who might try to breach a vehicle's security system -- an effort that has gotten the blessing of federal regulators. Read More »

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AutoNews Now: Tesla loses in Michigan

Gov. signs bill that effectively bars direct car sales; Daimler to make Sprinters in N.A.; Ford slashes price of Focus EV. Read More »

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First Shift: Toyota issues airbag alert

Warning: Keep front passengers out of unrepaired cars; Tesla seeks backup in Mich.; Honda, Acura previews; waiting-room boom. Read More »

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GKN sees growth in 2014 helped by auto-unit performance

UK supplier GKN said it was on track for growth in 2014 after posting third-quarter profit of 160 million pounds ($258.62 million), boosted by a strong performance at its automotive unit. Read More »

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Daimler earns $780 million windfall from sale of Tesla stake

Daimler said it would book a $780 million windfall from selling its 4 percent stake in electric car maker Tesla. The company said it will continue sourcing powertrain for the Mercedes B-Class Electric Drive from Tesla Read More »

NHTSA website search function crashes as drivers look for airbag recalls

The website federal safety regulators are urging 4.7 million people to check to see if their cars have defective airbags couldn't be fully accessed today. Read More »

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Daimler sees $780 million windfall from sale of Tesla stake

Daimler AG said it will book a $780 million windfall from selling its 4 percent stake in rival electric car maker Tesla Motors. Read More »

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Asbury raises its acquisition target

Asbury Automotive Group Inc.'s acquisition ambitions keep getting bigger. Asbury, the nation's seventh-largest dealership group, said today that it now aims to buy stores that will add $500 million in annual revenue during the next 18 months. Read More »

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JAMIE LaREAU:

Gen Y guru entertains, informs

Who knew that demographics could be so funny? Read More »

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Toyota ordered to pay $12.5 million to woman 'virtually decapitated' by seat belt

A California jury ordered Toyota to pay $12.5 million for being responsible for debilitating lap-only seat belt injuries in a 2010 crash. Read More »

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Nissan's 2016 Maxima drives back to roots

Nissan's redesigned Maxima sedan may be getting back to its “4DSC” roots. Recent spy photos show an early prototype of the 2016 Maxima. The 2016 Maxima's fastback styling mimics the four-door coupe body styles found on several German cars. Read More »

Special Report
No. 1 store empowers, retains employees

No. 1 store empowers, retains employees

Texas dealer Greg May encourages his staffers to provide input and solve problems on their own. Mon., October 20
» Watch the Video
     
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