Publicly held dealership group AutoCanada said today its net income rose 38 percent in the third quarter from a year earlier to C$10.6 million ($10.3 million), as revenue rose 35 percent to a quarterly record $392.5 million.
As the fifth anniversary of the Federal Reserve's policy of keeping interest rates near zero approaches, the market for subprime borrowing is once again becoming frothy, this time in the car industry. As with mortgages in 2006 and 2007, the central bank's stimulus is making it easier for U.S.
Two out of three car shoppers in the United States would sacrifice performance for fuel economy, and reliability is the biggest factor is choosing a new vehicle, according to a study by a Detroit-area consulting firm.
Sonic Automotive's third-quarter net income more than doubled as revenue from new and used vehicles improved. Sonic reported third-quarter net income of $23.3 million compared to $10 million a year earlier.
Tata Motors' second-quarter income gained 71 percent as sales at its Jaguar Land Rover unit expanded. Retail sales at the luxury unit rose at the fastest pace in four quarters boosted by demand for Jaguar models, including the F-Type convertible.
Rolls-Royce buyers in China are a generation younger than their counterparts in Europe and the United States. The average age of a customer in China is 40 to 45 years old while it 60 to 65 elsewhere in the world.