By almost any measure, August spelled recovery for U.S. auto sales. Not only have automakers sold more light vehicles in the first eight months this year (10.6 million) than in all of 2009 (10.4 million), but last month's 1.5 million sales topped the unit volume of every August since 2003.
Volkswagen's top executive in the United States said Wednesday the company has made no decisions on how workers could be organized at its Tennessee assembly plant, despite reports of high-level meetings between UAW organizers and top VW executives.
Toyota raised its 2013 U.S. sales target for the Toyota brand and Scion by about 50,000 units as combined deliveries of Toyota, Lexus and Scion vehicles topped 230,000 in August. It was the company's best monthly sales total in more than five years.
Ford of Europe will launch a badge called Vignale for upscale cars at the Frankfurt auto show with a concept based on the new Mondeo. With Vignale, Ford joins mass-market rivals such as PSA and Renault in creating specially badged vehicles aimed at luring buyers away from BMW, Audi and Mercedes.
Japanese automakers helped lift U.S. light-vehicle sales 17 percent last month, topping forecasts and propelling the annualized selling rate to 16.1 million, the industry's best showing since late 2007.
Volkswagen's top U.S. executive said the automaker has made no decisions on how workers could be organized at its Tennessee assembly plant, despite reports of high-level meetings between union organizers and top VW executives.
Four years into the sales recovery, we’re all holding our breath. We all hope everybody remembers the hard lessons of the Great Recession. And fear somebody will crack open a fresh can of marketing excess -- especially we graybeards who remember previous boom-and-bust cycles.
The idea that GM would be interested in buying more Peugeot shares, as rumored earlier this summer, defies common sense. Even more ridiculous is the rumor that the Peugeot family will sell off to the Chinese.
General Motors' sales in the United States rose 15 percent last month from a year ago, even as it reduced fleet deliveries by 8 percent. August was the best sales month in the United States for GM since September 2008
Toyota's Lexus, the top- selling luxury-auto brand in the United States for 11 years through 2010, posted a 23 percent increase in August for its first monthly win in a year. Deliveries rose to 29,792, Toyota said today in a statement.
Chrysler's Canadian arm reported its best sales for the month of August in 13 years and its best sales year-to-date in 25 years, bolstered in part by robust passenger car sales, the auto maker said today. Ford Motor, the top seller in Canada, said its sales rose 7.1 percent to 27,268 vehicles.
Volkswagen Group of America gained from strong demand for diesel cars in August, but the VW brand's sales again fell shy of last year's pace as Audi continued its surge in the luxury segment with a 22 percent sales gain.
Captive finance companies picked up share in the second quarter, buoyed by a rise in leasing -- a lending area they dominate -- and gains in new-vehicle loans. Captives had the biggest share of new-vehicle loans in the quarter, and banks were No. 2. A year earlier, the opposite was true.
Ford Motor Co.'s lease penetration is below average, but Ford is OK with that, U.S. sales chief Ken Czubay says. "Leasing has done very well for us," he said in a conference call today for reporters and analysts. "We're prudent in managing that business, but it's a great tool for our dealers."
There is no shortage of strange news from North Korea, the world’s only hereditary communist regime. Only a shortage of electricity, food, skilled labor, education and basic human rights. And that makes FAW Group's reported North Korean auto plant all the more remarkable.
Eager to regain market share in the price-sensitive compact segment, Toyota is cutting customer lease payments on the redesigned 2014 Corolla by setting residual values much higher than in the past, according to dealers and lease trackers. It's a risky move.
Dealers’ Financial Services, whose MILES program provides auto loans and F&I products to military members, has changed the disclosure language on its Web site. The site’s new language emphasizes that extended-service contracts and GAP are optional and cancellable.