Chrysler Group has bought a 531-acre testing center in Florida, where it plans to expand its vehicle testing, especially in winter. The site has more than six miles of test track, including a 2.1-mile straightaway and a 1.1-mile ride and handling loop.
European car sales shrank again in March, threatening more losses for carmakers in the region after a dismal 2012, according to figures and forecasts. With euro-zone unemployment at a record high, forecaster LMC Automotive sees this year's sales dropping 3.1 percent in western Europe to 11.
On Tuesday, Tesla Motors announced a guaranteed-residual-value financing plan starting at $1,051 a month for the base 60 kWh Model S electric sedan. While paying off the 63-month loan, consumers can trade in the car after 36 months for a guaranteed price.
Tesla Motors plans a guaranteed-residual-value financing program starting at $1,051 a month for the base 60 kWh Model S electric sedan. While paying off the 63-month loan, consumers can trade in the car after 36 months for a guaranteed price.
Japanese car makers' sales in China in the first three months of the year have yet to recover fully from last year's slump, and foreign rivals are capitalizing in a market which expects 7 percent growth in 2013.
Economists have long known that certain retail-level transactions -- such as the number of packages handled by UPS or FedEx -- are good indicators of the economy's overall strength or weakness. But does the same hold true for branded automotive tchotchkes?
The Porsche Panamera has been restyled and the lineup gains a plug-in hybrid model, along with a new twin-turbo V6 for the Panamera S and 4S models that is more powerful than the former base V8. Also, Porsche is adding a stretched version of the Panamera with 5.
General Motors dealerships can expect these vehicle financing trends: More activity from subprime specialist GM Financial, including prime-risk financing and floorplanning; More leases for GM brands, especially Cadillac; GM incentives offered through more auto lenders.
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 said it will get about $2.4 billion at closing and about $190 million in dividends prior to closing from the GM unit.
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.
Capital One Auto Finance booked a record $16 billion in auto loan originations last year. Much of that success, says President Trip Hall, stemmed from the lender's Diamond Dealer incentive program, which was launched in 2010.
The UAW's total assets fell for the sixth straight year in 2012 while spending on political activities and lobbying nearly quadrupled from the previous year, the union's annual financial filing with the Labor Department shows.
In the real world, do the high-tech features that lenders develop for dealership F&I departments get any use? Yes, says Geoff Robinson, marketing vice president for Mercedes-Benz Financial Services USA.
Hyundai Motor and Kia Motors are recalling vehicles in the United States to replace a faulty switch that can prevent brake lights from illuminating and trigger other problems. About 1.7 million vehicles are involved.
Audi already knows how it feels to be global No. 1 in premium-car sales. The brand led in that category in January before falling back to second place behind BMW in February. Audi CEO Rupert Stadler plans on get back to the top and stay there by 2020 or sooner.
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.
Infiniti knows who will be buying its BMW 1-series rival. “The target customer is a French lady called Pascale. She's 34 years old, living in London with an English guy who works in banking,” Nissan global product planning boss Andy Palmer told Automotive News Europe.