Headlines for Wednesday, February 12, 2014

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Lexus keeps J.D. Power dependability crown; GM scores 2 spots in top 5

10:00 am U.S. ET | Feb. 12, 2014
Lexus again is the most dependable auto brand after three years of ownership while two General Motors marques joined the top five, J.D. Power and Associates said today.


JM&A: Pursue compliance, consistency for the sake of consumers – and the CFPB

12:01 am U.S. ET | Feb. 12, 2014
Some F&I administrators have said they're concerned that the Consumer Financial Protection Bureau could go after F&I products this year the way it has campaigned against dealership's discretion in setting customer interest rates on auto loans.

VW counters Corker, says new product not linked to UAW vote

10:09 pm U.S. ET | Feb. 12, 2014
Volkswagen, in a brief but bluntly worded statement Thursday, said a vote this week on UAW representation at its Chattanooga plant would have no bearing on whether it will build a new crossover vehicle there.

VIDEO: AutoNews Now: Lexus tops in dependability

12:01 am U.S. ET | Feb. 12, 2014
Luxury brand wins third-straight crown, followed by Mercedes, Cadillac; incentive spike coming?; Corvettes sunk by sinkhole.

BMW, Kia plants cancel shifts because of winter storm

1:33 pm U.S. ET | Feb. 12, 2014
BMW and Kia canceled shifts at their plants in the United States today because of severe winter weather in the Southeast. A winter storm warning is in effect until Thursday evening for the area, with snow and ice potentially causing power outages and treacherous roadways.

VIDEO: First Shift: Toyota recalls 1.9M Priuses

12:01 am U.S. ET | Feb. 12, 2014
Glitch may cause hybrid to shut down, enter 'limp-home' mode; Canada boosts auto aid; UAW balloting begins today in Tenn.

BMW U.S. plant cancels shift because of winter storm

Feb. 12, 2014 19:33 CET
BMW's U.S. assembly plant canceled a shift because of severe weather. The factory in Spartanburg, South Carolina, is the company's sole global source of the X3, X5 and X6.

Faurecia second-half profit jumps 34% on Asia growth

Feb. 12, 2014 13:42 CET
French supplier Faurecia says second-half earnings rose 34 percent on robust demand in Asia and the beginning of a recovery in its home region's automotive market.

PSA and Dongfeng reach outline deal, report says

Feb. 12, 2014 17:55 CET
PSA/Peugeot-Citroen has reached an outline deal with Dongfeng and the French government to raise up to 4 billion euros in fresh capital and deepen cooperation with the Chinese carmaker, sources said.

Sinkhole swallows 8 vehicles at Corvette museum in Ky.

11:08 am U.S. ET | Feb. 12, 2014
Eight vehicles in the Skydome area of the National Corvette Museum in Bowling Green, Ky., were swallowed by a massive sink hole at about 5:40 a.m. today, the museum said.


Jaguar, aided by 3 villains, ready to challenge

4:37 pm U.S. ET | Feb. 12, 2014
Americans like puppies, Bob Dylan and even angel wings, as shown by the response to this year's Super Bowl commercials.


Rising stockpiles, drop in showroom traffic spark rise in discounts

3:59 pm U.S. ET | Feb. 12, 2014
A one-two punch of bad weather and overproduction has ignited a price war among car dealers and manufacturers in the United States.


The disappearing GM gender pay gap that wasn't

1:43 pm U.S. ET | Feb. 12, 2014
In a shocking surprise to no one who was actually aware of the facts, General Motors did not really cut CEO Mary Barra's pay when it promoted her to CEO. Nor is GM paying Barra significantly less than her male predecessor, as some media outlets recklessly claimed.

Public group F&I results hit high note in Q4

12:01 am U.S. ET | Feb. 12, 2014
Group 1 Automotive's U.S. operations set a record with average F&I revenue per vehicle retailed of $1,418 in the fourth quarter, an increase of 9 percent from the same period a year ago.

Dealer reserve caps catch on

12:01 am U.S. ET | Feb. 12, 2014
The notion of capping dealer reserve and documenting exceptions as a way for auto dealers and lenders to avoid possible allegations of discrimination is gaining industry acceptance.


No need to panic as big banks pare dealers

12:01 am U.S. ET | Feb. 12, 2014
Recent news that Chase Auto Finance and TD Auto Finance are looking to trim their dealership networks brought swift reactions of “Here we go again” from some members of the dealership F&I community.


Be your own F&I customer

9:49 am U.S. ET | Feb. 12, 2014
Why buying F&I and pictures and props can help your pitch

Fiat casts Sean Combs in desert spot highlighting 500L

10:00 am U.S. ET | Feb. 12, 2014
Fiat-Chrysler's Fiat brand will kick off a marketing campaign Thursday for the 500L to help differentiate the four-door hatchback from the smaller two-door Fiat 500 minicar.


Ferrari unveils greener California with turbocharged V-8

6:47 am U.S. ET | Feb. 12, 2014
Ferrari is switching to a turbocharged V-8 engine in its new California coupe-convertible to help cut fuel consumption.


Ferrari unveils greener California with turbocharged V-8

Feb. 12, 2014 12:47 CET
Ferrari is switching to a turbocharged V-8 engine in its new California coupe-convertible to help cut fuel consumption and lower CO2 emissions.

Japanese auto workers seek pay raises amid soaring profits

8:14 am U.S. ET | Feb. 12, 2014
Labor unions at all of Japan's automakers are seeking an increase in base salaries and bonuses, as companies including Toyota and Honda forecast record profits this fiscal year.

Ford January sales in China rise 53%

6:47 am U.S. ET | Feb. 12, 2014
Ford Motor Co. and its Chinese joint ventures sold 94,466 vehicles in China in January, an increase of 53 percent from a year earlier, the automaker said today.


Mazda Europe design boss on why brand's fwd cars have a rwd look

Feb. 12, 2014 06:15 CET
Mazda's 'convention-defying' approach to car design means its front-wheel-drive models have the long, flowing looks of popular premium rear-drive models.

Toyota to recall 1.9 million Prius models to update software

Feb. 12, 2014 10:37 CET
Toyota will recall more than half of the Prius vehicles ever sold to fix a software glitch in the car's hybrid system that may cause some parts to overheat, potentially causing the cars to slow down or stop completely.

Mercedes aims to show GLA SUV offers robust driving, latest technology

Feb. 12, 2014 12:05 CET
Mercedes is confident the GLA SUV will add to the success of its current compact lineup and help it regain the No. 1 spot in premium-car sales that it lost to BMW in 2005.

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