Automotive retail software vendor Dealertrack Technologies Inc. plans to acquire VINtek, a Philadelphia company that provides electronic lien and title programs for auto lenders, for $53.4 million in cash.
IGS Energy opened its first compressed natural gas fueling station in West Virginia as part of a plan to offer the alternative fuel along the I-79 corridor between west central West Virginia and southwestern Pennsylvania.
Fiat is delaying the return of the Alfa Romeo brand to the United States until the second quarter of 2014, alliance partner Chrysler said today. Sergio Marchionne, CEO of Fiat and Chrysler, previously said the U.S. automaker would start selling the compact 4C sports car this year.
The breathless hullabaloo over Chrysler Group's long-awaited filing for an initial public stock offering has the automotive world abuzz with revelations of perceived palace intrigue under the Pentastar.
Fiat boss Sergio Marchionne's decision to push ahead with a Chrysler IPO he does not want has raised the stakes in a buyout dispute with the U.S. automaker's minority shareholder -- as well as for his own legacy.
Chrysler Group was forced to file paperwork for an initial public offering by its second-biggest shareholder -- the UAW retiree health care trust fund -- prompting Fiat to say it could scale back its commitment to the U.S. automaker.
Honda broke ground on a $470 million transmission plant in Celaya, Mexico, today. The plant is expected to begin operations in the second half of 2015 with an initial annual production capacity of 350,000 units, eventually increasing to around 700,000 units per year.
With their simple body lines and extensive use of recycled materials, BMW's i electric cars establish a new design language for premium but eco-friendly vehicles, says Adrian van Hooydonk, BMW top design executive. He calls the i cars the "next premium" -- a new generation of luxury vehicles.