Headlines for Wednesday, August 14, 2013

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Getting to yes on a lease

12:01 am U.S. ET | Aug. 14, 2013
In the F&I office, it's all about getting the customer to say yes and sign. Ideally, that's for a well-structured loan with other F&I products as well. But sometimes it means getting the customer to say yes to a lease.


Mercedes aims GLA crossover at conquest customers

Aug. 14, 2013 06:01 CET
Mercedes released details of its new GLA crossover, the latest model aimed at attracting younger customers to the brand.

VIDEO: AutoNews Now: Putting recalls in plain sight

12:01 am U.S. ET | Aug. 14, 2013
NHTSA mandates more-explicit notices, tools to let drivers search by VIN; Pebble Beach preview; Rechtin on new Tundra.

VIDEO: First Shift: Ghosn deputy's dream job

12:01 am U.S. ET | Aug. 14, 2013
With 'a big leader' in his way, Renault's Tavares sets sights on GM, Ford; NY debut for Escalade; Honda's drive-in mission.

Hyundai, Kia recalling about 270,000 U.S. vehicles

6:47 pm U.S. ET | Aug. 14, 2013
Hyundai and affiliate Kia are recalling nearly 270,000 car and light trucks in the United States due to possible corrosion that can affect rear wheel alignment on the Sonata and Azera, and possible problems with the right front axle on 2014 Hyundai Santa Fe and Kia Sorento models.

Ford targets higher capital spending, dividend boost by mid-decade

1:17 pm U.S. ET | Aug. 14, 2013
Ford Motor today laid out a more ambitious mid-decade plan that includes a higher dividend and a 25 percent increase in capital spending, to take advantage of growing automotive demand worldwide.

U.S. tells automakers to make recall information easier to find

10:55 am U.S. ET | Aug. 14, 2013
Automakers will be required to install a tool on their Web sites to allow consumers to easily find out if vehicles have been recalled in the United States, under a federal rule released today.

Automakers market their muscle at annual cruise event

2:09 pm U.S. ET | Aug. 14, 2013
The annual Woodward Dream Cruise just north of Detroit, which draws more than 1 million people and around 40,000 classic cars to a 22-mile stretch of four-lane road, gives the Detroit automakers a chance to display their high-performance hardware as they seek to outmuscle one another in their...

Dodge holds base price on redesigned Durango at $30,790

1:23 pm U.S. ET | Aug. 14, 2013
Dodge says the 2014 Durango crossover will be priced at $30,790, including the $995 shipping fee, which is the same starting price as the 2013 model.

VIDEO: Rechtin's take on the new Tundra

12:01 am U.S. ET | Aug. 14, 2013
Toyota has reengineered its full-size Tundra pickup truck for the 2014 model year. In this video, Automotive News West Coast Editor Mark Rechtin examines the Tundra's engine offerings, off-road capability and Toyota's sales target for the updated pickup.


What's the credit union difference? Low rates

12:01 am U.S. ET | Aug. 14, 2013
Nearly one-third of folks in the United States belong to a credit union, and a lot of those memberships started with an auto loan, says Mike Schenk, senior economist at Credit Union National Association in Madison, Wis.

Asbury bullish on credit, chases best-in-class PVR

12:01 am U.S. ET | Aug. 14, 2013
Credit availability is a strong tailwind for F&I sales and vehicle sales, Asbury Automotive Group CFO Scott Krenz told investors and Wall Street analysts today.

Low loan losses support subprime health

12:01 am U.S. ET | Aug. 14, 2013
Even as subprime lending has picked up, resulting in more vehicle sales to credit-challenged customers, delinquencies and repossessions have fallen to record lows, data from Experian Automotive show.

Jeff Schmitt Auto Group under fire in Ohio

12:01 am U.S. ET | Aug. 14, 2013
Since December, Jeff Schmitt Auto Group has paid about $625,000 to resolve 16 civil lawsuits and five other complaints.


VW bets big on CNG

Aug. 14, 2013 06:01 CET
VW Group is hoping its new TGI engine will match the success of its TDI powerplants. The automaker will use TGI on its new bi-fuel models that can run on both compressed natural gas and gasoline, starting with a variant of the VW Golf.


When a negative number nets a windfall

12:01 am U.S. ET | Aug. 14, 2013
Corporations don't like to see negative numbers in their financial results, but this one may be an exception.

Cadillac to reveal new Escalade in October in NYC

10:45 am U.S. ET | Aug. 14, 2013
General Motors will reveal the redesigned 2015 Cadillac Escalade SUV in October at a world premiere in New York City. In a media invitation to the debut, GM described the next-generation Escalade as a "bold, evolutionary statement."


Mercedes to offer GLA crossover with awd, then fwd

3:15 am U.S. ET | Aug. 14, 2013
The GLA compact crossover, designed to lure younger buyers to Mercedes-Benz, will go on sale in the United States with all-wheel drive in fall 2014, followed by a front-wheel-drive variant in early 2015, the company said today.

UK car dealer Lookers profits from recovery at home

Aug. 14, 2013 14:16 CET
UK dealer group Lookers said a recovery in its home market helped lift first-half pretax profit by 20 percent to 28.8 million pounds.

Hyundai, Kia brace for second straight year of labor strikes in Korea

Aug. 14, 2013 11:19 CET
Hyundai and Kia workers in South Korea have agreed to go on strike for a second straight year to demand higher wages.

BMW output in South Africa hit by strike

Aug. 14, 2013 12:58 CET
BMW workers in South Africa began a strike over pay that will affect production of cars for global markets including the United States.

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