Penske Automotive Group plans to snap up more dealerships overseas, but shift its product mix toward domestic brands in the United States. That's a change for the dealership group, which has largely focused on acquiring volume foreign brands for more than a decade.
Nissan's U.S. arm is preparing to expand its lineup of full-sized pickup trucks as it replaces the aged Titan, which has not been significantly refreshed since it was introduced in 2003. Engineers and designers are leaving "nothing off the table" in delivering a competitive truck to U.S.
Penske Automotive Group, coming off a year that saw higher earnings and revenue amid the U.S. auto industry’s steady recovery, is targeting several initiatives to keep profits and sales growing in 2013.
BMW stepped down on Wednesday from its role in an automotive industry research program investigating the safety of a potential new air conditioning refrigerant, disagreeing with the test methods employed.
Chrysler Group agreed to make a U.S. unit of Banco Santander SA its preferred provider for auto loans, replacing Ally Financial. Chrysler and Santander Consumer USA will form Chrysler Capital to provide customers with financing to purchase and lease vehicles, the company said today in a statement.
Google sees self-driving cars being available to consumers in three to five years. Regulators and the insurance industry aren't so sure it can happen that quickly. States may have to decide how to license machines rather than people.
Mazda and Subaru are in the best position to benefit from the weakening yen, raising their earnings forecasts today as exported goods generate more cash. Mazda hiked its operating profit outlook for the year ending in March to $482 million, which would be its highest since the year ended March 2008.
German automakers expect to partially offset Europe's sales slump with another year of double-digit volume gains in the hot U.S. market. “We expect to grow by about 10 percent this year,” Mercedes-Benz USA CEO Steve Cannon told Automotive News Europe
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Higher residual values and higher lease penetration are contributing to Kia's U.S. sales increases. "We specifically have used lease as a growth strategy," said Tom Loveless, executive vice president of sales for Kia Motors America.