Headlines for Wednesday, August 21, 2013

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Toyota's Lexus marque to open luxury stores in branding push

4:18 pm U.S. ET | Aug. 21, 2013
Lexus plans to open luxury stores offering consumers goods including coffee cups glazed with volcanic ash and Italian leather bags to help boost the premium marque's brand image worldwide.

VIDEO: AutoNews Now: Obamacare: Dealers' dilemma

12:01 am U.S. ET | Aug. 21, 2013
Why some retailers may hold back hiring; volume discounts on eBay listings; a hint of next Maxima?; Rechtin: Taste of Pebble.

Saab gets ready to restart production

Aug. 21, 2013 15:58 CET
Saab's new owner aims to restart production at the automaker's mothballed factory in Sweden later this year with output of the mid-sized 9-3 model.

Nissan concept photos hint at more aggressive Maxima

11:36 am U.S. ET | Aug. 21, 2013
Nissan gave reporters a sneak peek at a future concept vehicle this week that hints at a more aggressive Maxima sedan in the works.


Why NADA says the CFPB's wrong on reserve

12:01 am U.S. ET | Aug. 21, 2013
The National Automobile Dealers Association has come up with a catchy way to describe the Consumer Financial Protection Bureau's attack on dealer reserve.

VIDEO: First Shift: A Titan chore for Ram?

12:01 am U.S. ET | Aug. 21, 2013
Nissan-Cummins deal could threaten Chrysler's longtime marketing edge; Lexus boutiques; Snyder: Lose muscle to gain MPG?

Continental to work with Google, IBM on self-driving cars, report says

Aug. 21, 2013 18:42 CET
German auto supplier Continental is close to agreeing on alliances with Google and IBM to develop autonomous driving systems for cars, a German newspaper reported.

Tesla weighs overseas plants for mass-market electric vehicle

7:04 pm U.S. ET | Aug. 21, 2013
Tesla CEO Elon Musk says the electric-car maker intends to add factories in Europe and Asia, anticipating volume gains from a planned mass-market battery car.

Auto finance growth outlook sparks confidence

5:09 pm U.S. ET | Aug. 21, 2013
The outlook for auto finance growth is encouraging, the latest TransUnion report on auto loan volume and delinquencies shows.

Space robot research could help improve vehicle communications, Ford says

2:48 pm U.S. ET | Aug. 21, 2013
Ford is teaming up with researchers at the St. Petersburg Polytechnic University in Russia to study communication between robots at the International Space Station and Earth in the hope of developing better systems for connected cars.

VIDEO: Rechtin tours Pebble Beach

12:01 am U.S. ET | Aug. 21, 2013
Classic luxury and sports cars recently decorated the fairways at the 2013 Pebble Beach Concours d'Elegance in California. But as Automotive News West Coast Editor Mark Rechtin explains in this video, a growing number of storied brands are committed to creating modern icons by increasing U.S. sales.

Continental to work with Google, IBM on self-driving cars, report says

12:42 pm U.S. ET | Aug. 21, 2013
German auto supplier Continental AG is close to agreeing alliances with Google and IBM to develop autonomous driving systems for cars, a German newspaper reported today.

GM Financial wants more GM dealer business

8:34 am U.S. ET | Aug. 21, 2013
GM Financial plans to boost volumes with General Motors dealers in the United States and Canada.


Sonic: Catching fraud saved millions

8:34 am U.S. ET | Aug. 21, 2013
Sonic Automotive has prevented close to $3 million in fraudulent loans since it switched three years ago to an automated system to check customer IDs, says Todd Weeks, Sonic's national director of retail lending.

Toyota sees steady Camry prices amid competition for U.S. car crown

10:04 am U.S. ET | Aug. 21, 2013
Toyota, facing rising competition from Ford and Honda, plans to keep prices steady for its Camry sedan as it defends the bragging rights for top-selling car in the United States.

Auto loans reach 6-year high

8:34 am U.S. ET | Aug. 21, 2013
U.S. auto-loan originations are at their highest point in nearly six years, a new government report shows. In the second quarter, originations rose 11 percent to $91.8 billion for all credit tiers combined.

Ally plans $5.9 billion buyback to help lender exit U.S. bailout

12:01 am U.S. ET | Aug. 21, 2013
Ally Financial, the auto lender seeking to repay its government bailout, is raising $1 billion in a private placement and said it will pay $5.9 billion in a plan to buy back preferred shares held by the Treasury Department.

Ferrari plans further hybrids to follow its LaFerrari supercar

Aug. 21, 2013 06:01 CET
Ferrari plans further hybrid models to follow the LaFerrari flagship to attract more wealthy buyers to the brand.

EBay offers discounts for dealer-listing subscriptions

9:00 am U.S. ET | Aug. 21, 2013
EBay has began offering discounts to dealers who buy national subscriptions to list their vehicles for sale on its site.

Toyota, BMW, GM hit by third day of strikes in South Africa

Aug. 21, 2013 11:49 CET
South African employees at carmakers including Toyota, BMW and General Motors, halted work for a third consecutive day as a labor leader said the industry scaled back a pay-raise offer.

Infiniti names former GM Europe designer Cox to run London studio

Aug. 21, 2013 06:01 CET
Infiniti named Simon Cox to direct its new design studio in London. Cox was head of GM's advanced design studio in Coventry, England, between 1998 and 2010 and also worked for Ford.

Fiat renews deal with Brazil's Itau Unibanco bank

Aug. 21, 2013 13:08 CET
Fiat says it has renewed a commercial cooperation agreement with Brazilian bank Itau Unibanco to support its sales operations in Brazil.

Fiat, Guangzhou agree to build Jeeps at JV plant in China, report says

Aug. 21, 2013 11:16 CET
Fiat and China partner Guangzhou have agreed to produce Jeeps at a joint-venture assembly plant in the central China city of Changsha, according to Chinese media.

Porsche plaintiffs lose bids for access to German prosecutors' files

Aug. 21, 2013 06:01 CET
Plaintiffs seeking damages from Porsche SE have been blocked by a German court from accessing files from the investigation of former Porsche executives Wendelin Wiedeking and Holger Haerter.

BMW owners wait for repairs on supply chain breakdown

Aug. 21, 2013 06:01 CET
BMW is struggling to deliver spare parts on time because of a new supply-management system in Germany, which is forcing customers to wait for repairs.

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