Toyota and Subaru are grappling with reports of rough idle and stalling conditions on their new sporty coupes. The problems on initial batches of the Subaru BRZ coupe and its Scion FR-S twin -- known as the Toyota FT-86 outside the U.S. -- is being caused by a software mapping glitch.
Supplier Visteon said Executive Vice President and CFO Martin Welch has resigned. Welch will be replaced on an interim basis by Michael Widgren, who has served as Visteon's vice president, corporate controller and chief accounting officer since May 2007.
Renesas Electronics, the world's top maker of microcontroller chips for cars, will let about 17 percent of its work force leave through an early-retirement program as the unprofitable company seeks to restructure.
Toyota, Mercedes-Benz and BMW retained their ranking among the world's top 15 global brands, while Nissan made the biggest gain from last year among automotive brands in an annual survey. Kia joined the list for the first time.
A former South Carolina dealer has been arraigned on charges he conspired with two finance managers and other employees to defraud customers, lenders and American Suzuki Motor Corp. through long-running illegal credit and marketing practices.
U.S. dealers can expect TD Auto Finance to keep moving down-market into near-prime and subprime loans as it expands, but don't look for it to offer leasing any time soon. That's the word from Paul Clark, the lender's new CEO.
One in five U.S. consumers is likely to receive a credit score different from the one given to lenders, potentially closing off access to credit for millions of Americans, the Consumer Financial Protection Bureau found in a new study released last week.
F&I administrators are looking for ways to avoid across-the-board price increases on tire-and-wheel policies despite a high level of claims in some markets. One obvious fix is to charge customers in those markets more, and administrators are doing exactly that, experts say.
AutoNation said retail sales of new vehicles surged 23 percent in September to 22,982 units. Import brands made the largest jump -- 38 percent above September 2011 -- to 11,854, the company announced today. Domestic brands rose 10 percent and luxury brands were up 11 percent.
It's no secret that VW Chairman Ferdinand Piech wants to prize Alfa Romeo away from Sergio Marchionne's Fiat Group. Marchionne won't let it happen, but he may just be angling to snag his own piece of Piech's Volkswagen turf.
While its Detroit competitors were buffeted by bankruptcy and the loss of their captive finance arms during the 2009 financial crisis, Ford Motor Credit Co. soldiered on doing what it was created to do when it was founded in 1959: provide funds for Ford dealers and their customers.