Tesla Motors has joined forces with USBank and Wells Fargo Bank to create vehicle financing and leasing products that allow consumers to lease a Model S electric sedan for a net payment of about $500 a month after a 10 percent down payment and calculated savings.
Toyota Motor Sales U.S.A.'s U.S. sales edged up 1 percent in March, to 205,342 units. That lagged the industry's 3 percent gain, but was enough to make March the automaker's best month in terms of volume since the federal cash-for-clunkers program in August 2009.
General Motors' U.S. sales rose 6 percent in March, the company said today, as new nameplates helped Cadillac achieve a 50 percent gain and Buick rise 37 percent. Chevrolet sales rose just 1 percent, hindered largely by 22 percent declines for the Malibu and Impala sedans.
In the highest-volume month since August 2007, automakers broadly advanced to sell 1.45 million light vehicles in March. That's only 3 percent higher than strong year-earlier results. But the seasonally adjusted annual selling rate of 15.
Light-vehicle sales -- led by strong pickup and crossover demand at Detroit's automakers -- rose 3 percent to 1.45 million units last month, slightly below forecasts but a positive signal the spring selling season is off to a solid start. It was the industry's best month since 1.
Audi and Mercedes are both vying to be the world's No. 1 luxury brand as the race heats up to topple BMW from the top position. The three premium giants not only want to lead with the most sales, but also in profitability and with the desirability of their products.
Infiniti will attempt to extend its strong March floor traffic by moving up its annual summer sales event into April, a senior Infiniti manager said today. The luxury make will hold its first spring sales event near the middle of this month and has already produced national TV spots to support it.
Faurecia North America Inc. has received final approval to build a three-story, 278,000-square-foot North American headquarters in suburban Detroit that will house the company's administration and a technical center for its automotive seating and exteriors units.
When I was in college, I walked onto the football team. It didn't take long for me to grasp a cold reality: To get the coaches' attention, I had to be better than the scholarship players. That's where Cadillac is today in its quest to play on the same field with the German luxury brands.
Volkswagen brand's vehicle sales rose 3 percent last month from a year earlier with most of the gains coming from one nameplate: the Beetle. The brand sold 37,704 vehicles in March, its third straight month of single-digit sales increases after a nearly two-year run of double-digit gains.
Beirut native and Detroit-educated Saad Chehab joined Chrysler from Ford in 2009. He led the Chrysler brand to a 39% gain in U.S. sales last year. In this segment, Chehab addresses the brand's marketing strategy, the fate of the Town and Country minivan and the possibility of more nameplates.
Ally Financial said it completed the sale of most of its operations in Europe and Latin America to General Motors Financial for about $2.6 billion. Ally, in a statement today, said it will get about $2.4 billion at closing and about $190 million in dividends prior to closing from the GM unit.
In the midst of a proxy fight with dissident investors, Lear announced an agreement with shareholders Marcato Capital Management and Oskie Capital Management to expand a stock buyback and keep the hedge funds' nominees off Lear's board.
A long-distance debate last week between two CEOs -- Ford's Alan Mulally and Renault-Nissan's Carlos Ghosn -- reignited a hot-button debate in the industry over the value of the Japanese yen. Is the weakening value of the yen giving the Japanese an unfair edge?