Headlines for Wednesday, July 17, 2013

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VIDEO: AutoNews Now: Infiniti EV waits on tech

12:01 am U.S. ET | July 17, 2013
Delay tied to work on a better battery, charging gear; Ram ranking comments; yellow-and-black Beetle GSR

VIDEO: First Shift: Return of VW's Phaeton

12:01 am U.S. ET | July 17, 2013
CEO says mainstream brand needs upscale 'halo' car in U.S.; Ford fixes hybrid mpg, accuses supplier of price-fixing; OnStar's national ad

Tesla shares rise 10% after positive analyst report

5:06 pm U.S. ET | July 17, 2013
Tesla Motors rose the most in seven weeks after a Dougherty & Company analyst more than doubled her price target for the electric-car maker, a day after Goldman Sachs Group said the shares may fall.

Ford sues Japanese wiring supplier over conspiracy to fix prices

11:19 am U.S. ET | July 17, 2013
Ford has sued one of its Japanese suppliers following a criminal case in which the parts maker admitted to being part of a conspiracy to fix prices of key wiring components. Fujikura, of Tokyo, in April 2012 agreed to plead guilty in U.S. District Court in Detroit to one count of price fixing.


Why Consumer Reports' Ram review elicits mixed feelings at Chrysler

11:11 am U.S. ET | July 17, 2013
Chrysler Group must be a little conflicted about Consumer Reports and its recommendation of the 2013 Ram 1500 pickup.

Cordray confirmation strengthens CFPB clout

11:19 am U.S. ET | July 17, 2013
Critics of the Consumer Financial Protection Bureau who opposed the agency's single-director structure lost a big battle yesterday as the U.S. Senate confirmed Richard Cordray as the CFPB's first permanent director.

MG Rover hearing will assess accountant's conflicts of interest

July 17, 2013 13:24 CET
Accountancy firm Deloitte will next week return before a tribunal which is assessing whether it failed to manage conflicts of interest in its advice to MG Rover and four directors who bought the carmaker before it collapsed.

More EU states could block Daimler sales in refrigerant dispute

July 17, 2013 21:54 CET
More EU countries could join France in blocking registrations of new Daimler vehicles using a banned refrigerant after European governments agreed to take action against the carmaker.

Group sues Ford, claims touchscreen systems defective

12:10 pm U.S. ET | July 17, 2013
A proposed class-action lawsuit was filed against Ford Motor, alleging that the MyFord Touch and MyLincoln Touch infotainment systems are defective.

Toyota expands 'Let's Go Places' ad theme with Corolla prelaunch

3:54 pm U.S. ET | July 17, 2013
Toyota Division is expanding its "Let's Go Places" advertising theme with experiential marketing events at family-friendly music, art and food festivals across America this summer. The nationwide tour includes events and festivals that involve creativity, healthy living and philanthropic causes.

Infiniti EV delayed to await new technology, exec says

2:05 pm U.S. ET | July 17, 2013
Production of Infiniti's electric car has been delayed in hopes of implementing more sophisticated technology into the vehicle, an executive said earlier this month.

Penske boosts dividend ahead of Q2 earnings

12:26 pm U.S. ET | July 17, 2013
Penske Automotive Group raised its quarterly dividend 7 percent for the second straight quarter this year, to 16 cents per share from 15 cents, the company said today. The dividend is payable on Sept. 3 to shareholders of record on Aug. 12.


Chevy adds some electricity to EV pitch

11:50 am U.S. ET | July 17, 2013
Few people think of electric vehicles as fun to drive. That's partly because automakers have never pitched them as such.

A tip for rewarding sales staffers on F&I

12:01 am U.S. ET | July 17, 2013
Cash incentives can be structured in a fun way to reward the car salespeople most productive in promoting F&I products. That's one of the tips from last month's Automotive News F&I Week online conference.


New S class made for back-seat drivers

11:29 am U.S. ET | July 17, 2013
Relaxed by a hot-stone massage, I opted for a targeted shoulder massage for neck tension that never seems to disappear.


Don't count dealer reserve out yet

12:01 am U.S. ET | July 17, 2013
There's a fair amount of opinion around that it's too soon to conclude that dealer reserve is on the way out. But perhaps few are as sure or as outspoken as attorney Randy Henrick that the practice still has traction.

Ally considers raising $1 billion to pass U.S. stress tests, report says

12:34 am U.S. ET | July 17, 2013
Ally Financial, the auto-lender majority owned by federal taxpayers, may raise less than $1 billion in stock to help it pass the Federal Reserve's annual stress test, a person with knowledge of the plans told Bloomberg.


Credit union group competes like other lenders

12:01 am U.S. ET | July 17, 2013
How did a network of 35 Colorado credit unions collectively get to be the biggest auto lender in the state? Partly by acting more like the competition, says Blair Korschun, CEO of CU Direct Connect in Centennial, Colo.

CFPB scrutiny spurs compliance training

12:01 am U.S. ET | July 17, 2013
The Consumer Financial Protection Bureau's scrutiny of F&I practices is spurring greater demand for regulatory compliance training.

Saab's U.S. liquidation plan earns court approval

10:21 am U.S. ET | July 17, 2013
The bankrupt arm of Swedish automaker Saab Automobile AB in the United States has gained court approval of a plan to liquidate and pay back creditors, effectively ending its bankruptcy.

Trend toward longer loans poses no threat yet, Manheim analyst says

12:01 am U.S. ET | July 17, 2013
More car buyers are opting for longer loans as they look to lower monthly payments. And not just new-vehicle buyers, either. Lengthening of used-car loan terms "has been significant," says Tom Webb, chief economist for Manheim Consulting in Atlanta.

PSA's consumer savings bank beats launch targets

July 17, 2013 12:49 CET
PSA Banque, the consumer savings bank created in March by PSA, said it might begin operating in Germany after receiving 780 million euros in French deposits, exceeding its 400 million euro annual goal.

Schaeffler agrees refinancing deal worth 3.8 billion euros

July 17, 2013 13:51 CET
Schaeffler, majority owner of Continental, says a new refinancing deal worth 3.8 billion euros ($5.1 billion) offers significantly improved conditions over a 2009 credit financing that it replaces.


Is this the end of the sticker price?

12:01 am U.S. ET | July 17, 2013
The death of the headline sticker price for new cars may be hastened by the popularity of smartphones and the growth of pay-per-use car-sharing operations.

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