The double-digit sales increases notched by the U.S. auto industry since 2009 will give way to slower but steady growth through 2015, J.D. Power and Associates predicts. Sales should grow 4 percent this year, to 15.1 million, followed by 4 percent gains in each of the next two years, Power says.
Dealers' service departments are about to benefit from a growing number of 3-year-old vehicles on the roads, says Mike Jackson, CEO of AutoNation, the nation's largest auto retailer. Jackson said energy and housing are growing bright spots in an otherwise anemic economic recovery.
Audi had a solid year in 2012. Audi posted a 19 percent increase in sales without resorting to heavy incentives, helping a dealer network that used to struggle with thin profit margins. Sales of large sedans and crossovers soared.
The year is off to a sizzling beginning, jump-started by a hot January for sales. Profits are near all-time highs across the dealer landscape. And, if you listen closely to those who escaped the winter blizzard and made it to Orlando, business is downright rocking.
The French government may buy a stake in PSA/Peugeot-Citroen if it is necessary to save the ailing automaker, a minister said. The comment came after PSA announced second-half writedowns of 4.13 billion euros ($5.53 billion) as Europe's plunging auto sales pushed down the value of its assets.
Steve Cannon, CEO of Mercedes-Benz USA, said that automakers must improve their customer satisfaction if they are to survive in a crowded industry and that the effort must involve dealership employees.
DealerTrack Inc. said Friday that it has signed an exclusive agreement to provide Honda and Acura with loan-origination and other sales tools. The company said it will partner with American Honda Finance Corp.
Wanted: The Best Dealerships To Work For. In partnership with Best Companies Group, Automotive News will identify dealerships in the United States and Canada that have excelled in creating quality workplaces.
The automotive economic recovery is only beginning from a retail standpoint, despite a growing seasonally adjusted annualized selling rate, according to Mike Jackson, CEO of AutoNation, the nation's largest auto retailer.
For the second straight year, ADESA will auction off a Harley-Davidson motorcycle during the convention with the proceeds benefiting the Frank E. McCarthy Memorial Fund of the NADA Charitable Foundation.
This year's make meetings at the convention generally should be upbeat affairs. After all, U.S. industrywide sales last year increased 13 percent, and only one brand's sales fell by more than 5 percent. The general rule is that when sales are good, make meetings are chummy.
Before we get around to cheering for the growth in vehicle sales, let us wax nostalgic for the good old days of 2009 and 2010. Even though it was cataclysmic on most counts, it wasn’t too shabby on at least one point. Dealership gross profits were better then.
Not to burst the ego of the automotive stylists who worked on them, but the new commercial vans that are about to flood the market are ugly. Beautifully, hideously ugly. The vans from Nissan North America, Ford Motor Co.
Optimism about electric cars is fading as manufacturers scale back investment in response to weak sales. Just 8 percent of auto executives said their companies would invest in pure battery technologies over the next five years.
Daimler is determined to build its Mercedes-Benz and Smart cars in half the time it took just six years ago. Back then, the average production time at the Daimler subsidiaries was 60 hours, excluding the powertrain.
The French government may buy a stake in PSA/Peugeot-Citroen if it is necessary to save the ailing automaker, a key minister said. The comment came after PSA announced second-half writedowns of 4.13 billion euros ($5.53 billion) as Europe's plunging auto sales pushed down the value of its assets.
Nissan reported a 35-percent drop in third-quarter profit after sales tumbled in China and new models trailed rivals in the United States. Net income fell to 54.1 billion yen ($581 million) in the three months ended Dec. 31, from 82.7 billion yen a year earlier, Nissan said today.
Powertrain component producer Dana this month became the 100th member of the European suppliers association, CLEPA. Partsmakers are counting on the Brussels-based lobby group to help them cope with tough times in Europe, CEO Jean-Marc Gales said.