While struggling European carmakers reduce production and consider plant closures, Hyundai and affiliate Kia are reporting record sales. The Korean brands attribute buoyant sales to their lean organizations and modestly priced, desirable new cars. Others disagree.
Chrysler Group is in exclusive talks with Banco Santander to make its U.S. unit the automaker's preferred financing provider, people familiar with the matter said. Chrysler entered a 30-day negotiating period with the lender, which would be the U.S.
Mexican automakers said on Wednesday they had reached a preliminary agreement with counterparts in Argentina to resume free trade in vehicles, but both urged their governments to begin a formal dialogue to settle remaining differences.
Toyota Motor Sales expects its market share in the United States to return to above 15 percent in 2013 when a string of redesigned vehicles arrives. Toyota is still recovering market share that fell during the inventory shortages after last year's earthquake and tsunami in Japan.
Ford said its record profit margins are shrinking in North America as buyers downsize from trucks to small cars. The shift will reduce Ford’s North American margins to 8 percent to 10 percent over time, down from 12 percent in the third quarter.
General Motors Financial will tap DataScan Field Services and ADESA auction company’s Openlane.com to help dealerships process off-lease vehicles starting in December, the financial company said today.
Penske Automotive has acquired two Wisconsin dealerships for an undisclosed amount. Jon Lancaster Toyota Scion and Lexus of Madison are expected to contribute about $130 million in annual revenue, Penske Automotive said in a release.
Rance Crain, editor-in-chief of Advertising Age and president of Crain Communications Inc., the parent company of Automotive News, has been named to the American Advertising Federation's 64th annual Advertising Hall of Fame.
A rebound in U.S. auto sales has been buoyed by the return of easy lending, even to borrowers with flawed credit histories. But some economists question whether the gains can be sustained without a boost in hiring.
Toyota plans to export its Kentucky-built Venza crossover to South Korea, the first time the vehicle will be sold outside North America. Venza exports are forecast to be about 600 units annually, said Bob Carter, Toyota senior vice president of automotive operations.
At what point should F&I managers stop pitching F&I products and take a customer's “no” for an answer? A panel of five F&I managers at a conference in September said it takes at least three or four “nos” to convince them that a customer really can't be persuaded.
Hurricane Sandy and a snowstorm a week later eventually will generate business for the F&I department and other profit centers at Freehold Buick-GMC in central New Jersey. But for now, Chris Bell, finance director for the store, says the emphasis is on cleanup.
Federal regulators should require all passenger and commercial vehicles sold in the United States to use technology such as adaptive cruise control, automatic braking and electronic stability control to reduce the number of deadly driving accidents, the National Transportation Safety Board said...
ZF Friedrichshafen and Tenneco make significant contributions to the ride and handling of the new Mercedes C-class coupe. ZF, of Germany, supplies the car's standard McPherson spring struts on the front and the rear dampers.
Visteon has opened a design center in Pune, India. The facility, part of a Visteon engineering center, will house experts in human-machine interface, plus engineers, program managers and market researchers.