Headlines for Wednesday, July 3, 2013

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AutoNews Now: Budget cars boost leasing

Lease growth occurs in budget, mid-sized segments; decades-old tech catches eyes of buyers; Thunderbirds-inspired Mustang Read More »

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Germany's average car age rises to record 8.7 years old on Europe crisis

Germans are driving older cars as they balk at big purchases during the euro zone crisis. Germany's car sales slumped 5 percent in June and full-year sales are seen at about 3 million. Read More »

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BMW, GM, Toyota hit by Egypt unrest

BMW, General Motors and Toyota have had to temporarily shut down all or parts of their operations in Egypt because of political unrest in the country. BMW and GM closed their sales and production units in the country today following yesterday's ouster of President Mohamed Morsi. Read More »

Canada auto sales rise 1% in June on Detroit 3 truck volume

Canadian auto sales in June rose 1.3 percent to 171,608 vehicles, with the Detroit 3 reporting double-digit volume sales gains for pickup trucks, while deliveries of sedans and other passenger cars fell 5 percent. Read More »

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Dealers get a reprieve on U.S. health care mandate

By delaying for one year a requirement that employers offer health insurance to their workers or pay fines, the Obama administration has given a reprieve to car dealers and other small-business owners grappling with how to comply with the new health care law. Read More »

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Chrysler recalls 840,000 vehicles, mostly in U.S. for headrests

Chrysler Group is recalling 840,000 vehicles in the United States and other countries, mostly for active-restraint head rests that are possibly flawed. Read More »

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North America car and truck production - 07/08/13

This is data compiled by the Automotive News Data Center and requires a Data Center subscription to access. Read More »

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IHS expects to complete Polk acquisition in mid-July

IHS said its purchase of R.L. Polk, which provides automotive data and marketing services, should be finalized the week of July 15. Read More »

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BMW’s U.S. plant to get new boss

BMW Group’s manufacturing operation in the United States will get a new leader as part of a management shuffle effective Nov. 1, the company said today. Read More »

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JIM HENRY:

Does CFPB disclosure order hint at future rules?

The recent consent orders agreed to by U.S. Bank, Dealers' Financial Services and the Consumer Financial Protection Bureau provide a hint at what disclosure forms might look like if the CFPB were to design them. And dealerships likely would not like their structure. Read More »

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Customer Incentives

This is data compiled by the Automotive News Data Center and requires a Data Center subscription to access. Read More »

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VINCE BOND JR.:

Nissan's plan to get the East to embrace the Leaf

The West Coast has always been a sweet spot for sales of the Nissan Leaf, one of the first EVs on the U.S. market -- and now that comfort is spreading east. Read More »

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AutoNation posts 10% unit sales gain in June

AutoNation, the largest auto dealership group in the United States, said today that its new-vehicle unit sales rose 10 percent in June from a year ago. Read More »

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Service contract rates hit 20-year high

Dealership customers are buying service contracts at a greater rate than any in the past two decades. Read More »

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A tip for selling F&I in the service lane

A trade-or-keep program in the service department drives sales of vehicles and F&I products. That's one of the key tips that emerged from last month's Automotive News F&I Week. Read More »

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Q&A:

Dealerships lag in transparency, tech 'readiness'

Dealership F&I departments are way behind their customers when it comes to pricing transparency and willingness to do business online, says Paula Tompkins, CEO of software provider ChannelNet. Read More »

LEGAL FILE:

Mitsubishi store prevails in finance dispute

A customer who denies signing a sales contract for a Chrysler Pacifica but accepted loan proceeds and racked up 20,588 miles can't disavow the deal, the North Carolina Court of Appeals has ruled. Read More »

How visual aids can prop up F&I pitches

Nothing is as effective as a visual aid in presenting the benefits of F&I products to car buyers. Why? Visual sales aids "substantiate product claims," said Glenn Roberts, national training and business development manager for Zurich Insurance. Read More »

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CFPB orders $6.5M in refunds to military members in auto-loan case

The Consumer Financial Protection Bureau has ordered U.S. Bank and an affiliate to repay a total of $6.5 million to more than 50,000 military service members to resolve claims that the companies deceived car buyers who arranged auto loans and insurance deals through a military program. Read More »

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1 woman in F&I, maybe, but 3? Now that's rare

Walk into Gordon Atkisson's adjoining Chrysler and Chevy stores here in rural Pennsylvania, and you'll find something unusual. "I have two finance managers, and both are women," says Atkisson, president of Country Chrysler-Dodge-Jeep-Ram and Jeff D'Ambrosio Chevrolet next door. Read More »

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GM China's sales rise 11% in June on strong demand for premium models

General Motors said June sales in China rose nearly 11 percent year-on-year to 236,207 units on strong demand for SUVs and premium models. Read More »

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Detroit seizes share in first half with new kind of buyer

General Motors, Ford and Chrysler captured buyers at a rapid rate in the year's first half as all three Detroit automakers gained market share in the United States for the first time in 20 years. Read More »

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First Shift: June winners, losers

Ford gains volume while Volvo drops; GM, Ford, Chrysler collectively boost share; Ram boss says gasoline engine 'can do the trick' Read More »

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BMW trims Mercedes' 2013 luxury lead in U.S. as 3-series demand soars

BMW boosted U.S. sales of its 3 series 63 percent last month, helping the automaker set a June record and narrowing the luxury-vehicle lead of Mercedes-Benz brand. Read More »

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Toyota will recall 185,000 vehicles globally for power-steering flaw

Toyota will recall about 185,000 vehicles globally, including the Yaris subcompact made in France, because of a glitch in the electric power steering system that could make the steering heavier. No accidents or injuries have been reported from the flaw, a Toyota spokeswoman said. Read More »

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AUTOMOTIVE NEWS EUROPE E-MAGAZINE:

VW production boss Macht drives group's green agenda

Michael Macht, VW Group's production boss, has a major task to deal with besides the everyday issues of throughput times and returns on capital. VW Group has set itself ambitious ecological targets as it seeks to become the world's greenest automaker. Read More »

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HANS GREIMEL:

It's in the numbers: Toyota internationalizes

Toyota is often criticized for being the most Japanese of Japanese companies in the pantheon of Japan Inc. But the new motto under President Akio Toyoda is "Internationalize!" Skeptical? Consider this: Toyota is dumping the use of Japanese numerical notation for the Western way. Read More »

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Mazda to double Skyactiv transmission capacity

Mazda will more than double capacity for its Skyactiv transmission series in two years to meet what it expects to be booming demand for its next wave of cars, which will rely on the gearboxes. Read More »

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Nissan aims to add Twizy-topping rival

Nissan is working on an innovative urban electric vehicle that it says improves on the Twizy produced by alliance partner Renault. Read More »

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Audi is top premium brand in China sales satisfaction survey

Audi has received the top ranking for a premium brand in J.D. Power and Associates' 2013 China Sales Satisfaction Index. The automaker received a score of 721, compared with the premium market average of 665. Read More »

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Racing, tech events draw crowds to Hoffman stores

Racing, tech events draw crowds to Hoffman stores

Hoffman Auto Group holds more than 100 elaborate events annually to attract and retain customers. Some buyers zip around a racetrack in Porsches at 130 mph. Mon., October 27
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