Headlines for Wednesday, July 31, 2013

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Leasing helps fuel highest U.S. sales since 2007

The momentum for leasing is driving car and light truck sales to a six-year high in the United States. Sales may climb 15 percent for July to 1.33 million, the average estimate of nine analysts in a survey by Bloomberg News. Read More »


AutoNews Now: Per-store sales pinnacle

Dealer profitability rises as another record shatters; Nissan's new parts maker park; Hyundais and zombies Read More »

New forms take hold as defense against discrimination claims

Dealership vendors and legal advisers are starting to introduce forms that dealers can use to document occasions when they deviate from their standard rate for dealer reserve on an auto loan. Read More »

2013 L.A. AUTO SHOW:

BMW, VW, Mercedes, Porsche plan Los Angeles show debuts

The 2013 Los Angeles auto show will host world debuts from BMW, Chevrolet, Ford, Honda, Mercedes-Benz, Mini, Porsche, Subaru and Volkswagen. Read More »


First Shift: More ways to fuel F-150

'14 models can use natural gas, propane; VW, Honda, Mazda post profits; Toyota sales milestone?; Snyder: Why sales still sizzle. Read More »

VW unfazed by U.S. sales lull as luxury brands gain

Volkswagen executives are content with the automaker's performance in the United States despite a slowdown that led the VW brand to cut its 2013 sales target. Read More »


Booming North America sales lift Subaru parent profit to record

Subaru's booming North America business fueled a quadruple leap in parent company operating profit, and the carmaker expects even sunnier results from its American cash cow. Read More »


Penske Q2 profits surge

Penske Automotive Group's second-quarter net income and revenue rose at a double-digit clip, driven by strong new- and used-car sales, gains in service and parts revenue and continued cost controls. Read More »

2013 L.A. AUTO SHOW:

L.A. auto show confirms world debuts for 9 brands

The 2013 Los Angeles Auto Show has confirmed that it will host world debuts from BMW, Chevrolet, Ford, Honda, Mercedes-Benz, Mini, Porsche, Subaru and Volkswagen. Read More »


Delphi Q2 profit rises 11% to $367 million

Delphi Automotive posted a stronger-than-expected second-quarter profit but the auto parts supplier offered a weaker-than-anticipated forecast for the current quarter. Read More »


Per-dealership sales projected to hit another record before plateau

The average number of unit sales per U.S. dealership will continue to rise this year, driving dealership profitability higher, before leveling off next year, a new report says. Read More »


Ally’s 2nd-qtr. loss widens on mortgage woes; auto lending profitable

Ally Financial's losses widened to $927 million in the second quarter, mostly related to its former mortgage subsidiary, but its core auto finance business posted a pretax profit on continuing operations of $382 million, down 13 percent from a year earlier. Read More »


Denso's quarterly profits surge on yen gains

Denso's profits surged in the quarter that ended June 30, in part because of currency gains, as revenue rose on higher vehicle production in North America and emerging markets, the world's second-largest automotive parts supplier said today. Read More »


VW unfazed by U.S. lull as luxury brands gain

Volkswagen executives are content with the automaker's performance in the United States, despite a slowdown that led the VW brand to cut its 2013 sales target. Read More »


Can dealer margins survive transparency? Sonic says yes

Will greater transparency in car deals, driven by the Internet, eventually bear down on F&I? Online transparency in vehicle transaction pricing is already on the way, one public retailer says. Read More »


VW accelerates second-quarter earnings on cost-cutting, luxury sales

VW Group posted a surprise gain in second-quarter earnings, reaping the benefits of new cost-cutting technology and growing sales of luxury cars. Read More »


Dealers rank BMW, Mercedes and Ford captive financiers tops in satisfaction

Auto dealers ranked BMW Group Financial Services tops for leasing and Mercedes-Benz Financial Services best for floorplanning in J.D. Power's annual financing satisfaction study released Tuesday. Read More »


GM, Ford captives boost leasing

GM Financial and Ford Motor Credit hiked leasing in the second quarter as part of an industrywide increase in leasing. Read More »


3 public groups post record F&I revenue

F&I revenue per vehicle rose at the six largest publicly traded new-car dealership groups in the second quarter, climbing as much as 10 percent from year-earlier levels and hitting records at three of the groups. Read More »


Don't limit Gen Y strategies to Gen Y

Just as some younger customers are technophobes, some older customers are tech savvy. Your presentation should be geared to the individual, not the individual's demographic group and perceived learning style. That's one of the tips that emerged from last month's Automotive News F&I Week. Read More »


Ford to offer F-150 with natural gas, propane gas package for '14

Ford will offer the 2014 F-150 with an equipment package that allows the popular pickup to run on compressed natural gas or liquid propane gas. The option will be available on F-150s powered by Ford's 3.7-liter V-6 engine. Read More »


U.S. court ruling could delay Fiat's Chrysler buyout

A ruling by a U.S. judge risks delaying Fiat's plan to buy up all of Chrysler unless it can reach an out-of-court settlement with a healthcare trust that is a minority shareholder in the American automaker. Read More »


Fiat fails to get judge's valuation of VEBA fund's Chrysler stock

Fiat failed to persuade a judge to set the value of some Chrysler shares now owned by a union healthcare fund, probably delaying a push to complete the combination of the two companies. Read More »


Skoda reiterates full-year outlook despite weak H1

Skoda reiterated its outlook for full-year deliveries to be above 2012 despite a 6 percent drop in first-half car sales to 464,600 units. Read More »


Honda's profit drops as overseas spending rises

Honda reported a decline in first-quarter profit as deliveries in its home market fell and spending on overseas plants rose. Read More »


PSA sees recovery signs despite wider first-half loss

PSA widened its first-half loss compared with a year earlier but said it may be on the road to recovery as spending cuts and an alliance with General Motors begin to pay off. Read More »

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