This year's Geneva auto show highlights how automakers are increasingly pushing into new market niches as they seek to maximize showroom sales and profits. Ultraluxury niche models will debut alongside limited-edition supercars by Ferrari and McLaren.
U.S. light-vehicle sales rose a modest 4 percent to 1.19 million units last month, with Volkswagen AG, Ford Motor Co. and General Motors setting the pace as automakers overcame severe winter weather, higher taxes and rising gasoline prices to keep the industry's recovery on track.
GM customers shrugged off higher fuel prices and snapped up pickups, SUVs and large crossovers in February, propelling GM to a 7 percent sales gain. GM sold 224,314 units last month, the company said today. Its gain outpaced the industry's modest 4 percent growth.
Now that Audi AG has shuffled production schedules to build more crossovers, the automaker expects to have a new U.S. best-seller this year. Audi of America sold 2,753 units of the five-seat Q5 crossover in February, up 57 percent from a year ago.
U.S. auto sales rose 4 percent from strong year-ago results in February, as modest growth by the Detroit 3 and Toyota offset declines at Honda, Hyundai-Kia and Nissan. Along the way, the seasonally adjusted annualized sales rate inched up to 15.4 million, the fourth straight month above 15 million.
Chrysler Canada recorded a 2 percent rise in Canadian vehicle sales last month, selling the most vehicles in any February since 2000 and extending its streak of year-over-year gains to 39 consecutive months.
Online automotive lead provider Autobytel posted a modest increase in net profits for the fourth quarter last year due to an increase in demand from automotive dealers and manufacturers. Net income for the quarter rose to $351,000, up from $341,000, a year ago.
Ford's Lincoln brand, which aired two ads during the Super Bowl in February, posted a 29 percent U.S. sales slide for the month as dealers continued to run short of the MKZ sedan featured in the commercials.
European automakers are marking record achievements in the United States. Jesse Snyder, a former editor for Automotive News Europe, explores why in this segment from Automotive News TV's First Shift newscast on Feb. 26.
All the Chevrolet Corvette talk these days is focused on the 2014 Stingray, the seventh-generation car that arrives this fall. But the C6 era only ended on Thursday as the last car rolled off the assembly line in Bowling Green, Ky.
North America's largest auto supplier today bumped its 2013 forecast for auto production on the continent by 500,000 vehicles to 15.8 million units. Canada's Magna International also upgraded its North American profit and revenue projections as auto sales continue to climb in the key U.S. market.
The auto industry's turnaround efforts will take longer to gain traction in Europe than in the United States, where some companies were able to see the positive results from their plans within a year, Visteon CEO Tim Leuliette said.
The auto industry's turnaround efforts will take longer to gain traction in Europe than in the United States, where some companies were able to see the fruits of their plans within a year, Visteon CEO Tim Leuliette said Thursday.
Sergio Marchionne, the CEO seeking to combine Chrysler and Fiat, predicted that Chrysler's future ownership structure won't be clear until the third quarter. He said his "best estimate" is that Fiat has a 50-50 chance of avoiding a Chrysler IPO and creating "one organization."
The new issue of the Automotive News Europe monthly e-magazine goes live on Monday, March 4. Our cover story examines Sergio Marchionne's multi-billion-euro bet that he can turn Alfa Romeo and Maserati into global sales powerhouses.