Headlines for Wednesday, July 31, 2013

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JULY U.S. SALES

Leasing helps fuel highest U.S. sales since 2007

9:45 am U.S. ET | July 31, 2013
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.

VIDEO: AutoNews Now: Per-store sales pinnacle

12:01 am U.S. ET | July 31, 2013
Dealer profitability rises as another record shatters; Nissan's new parts maker park; Hyundais and zombies

New forms take hold as defense against discrimination claims

12:01 am U.S. ET | July 31, 2013
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.

2013 L.A. AUTO SHOW

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

July 31, 2013 21:46 CET
The 2013 Los Angeles auto show will host world debuts from BMW, Chevrolet, Ford, Honda, Mercedes-Benz, Mini, Porsche, Subaru and Volkswagen.

VIDEO: First Shift: More ways to fuel F-150

12:01 am U.S. ET | July 31, 2013
'14 models can use natural gas, propane; VW, Honda, Mazda post profits; Toyota sales milestone?; Snyder: Why sales still sizzle.

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

July 31, 2013 18:27 CET
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.

Booming North America sales lift Subaru parent profit to record

2:21 pm U.S. ET | July 31, 2013
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.

Penske Q2 profits surge

11:18 am U.S. ET | July 31, 2013
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.

2013 L.A. AUTO SHOW

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

3:46 pm U.S. ET | July 31, 2013
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.

Delphi Q2 profit rises 11% to $367 million

10:49 am U.S. ET | July 31, 2013
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.

Per-dealership sales projected to hit another record before plateau

11:39 am U.S. ET | July 31, 2013
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.

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

10:14 am U.S. ET | July 31, 2013
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.

Denso's quarterly profits surge on yen gains

3:28 pm U.S. ET | July 31, 2013
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.

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

12:27 pm U.S. ET | July 31, 2013
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.

JIM HENRY

Can dealer margins survive transparency? Sonic says yes

12:01 am U.S. ET | July 31, 2013
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.

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

July 31, 2013 11:56 CET
VW Group posted a surprise gain in second-quarter earnings, reaping the benefits of new cost-cutting technology and growing sales of luxury cars.

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

12:01 am U.S. ET | July 31, 2013
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.

GM, Ford captives boost leasing

12:01 am U.S. ET | July 31, 2013
GM Financial and Ford Motor Credit hiked leasing in the second quarter as part of an industrywide increase in leasing.

3 public groups post record F&I revenue

12:01 am U.S. ET | July 31, 2013
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.

Don't limit Gen Y strategies to Gen Y

12:01 am U.S. ET | July 31, 2013
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.

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

12:01 am U.S. ET | July 31, 2013
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.

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

July 31, 2013 14:00 CET
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.

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

July 31, 2013 06:01 CET
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.

Skoda reiterates full-year outlook despite weak H1

July 31, 2013 14:01 CET
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.

Honda's profit drops as overseas spending rises

July 31, 2013 08:49 CET
Honda reported a decline in first-quarter profit as deliveries in its home market fell and spending on overseas plants rose.

PSA sees recovery signs despite wider first-half loss

July 31, 2013 08:04 CET
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.

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