Headlines for Wednesday, April 23, 2014

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Toyota's global sales top VW, GM for 3rd straight quarter

Toyota outsold VW Group and GM for a third straight quarter. Toyota sold 2.58 million units in the January-to-March period, it said today. Second place is too close to call as GM and VW said they each sold about 2.4 million vehicles. Read More »

J.D. Power to buy Korrelate to measure digital ad spending effectiveness

J.D. Power is acquiring analytics company Korrelate in a move to measure consumer online shopping behaviors and trends, the company said today. Read More »


Opel CEO targets No. 2 sales position in Europe in comeback drive

GM's Opel brand is targeting second place in deliveries in Europe in the coming years as new models attract buyers. Opel currently is the third-largest brand in the region, behind VW and Ford, according to data from the ACEA trade group. Read More »


AutoNews Now: GM: Parts on the way

90 min. to install new ignition parts; Opel aims for 'biggest comeback'; Rechtin on Lexus NX; Dodge and the geriatric go-getters. Read More »


First Shift: Toyota still sales champ

GM, VW in draw for 2nd place; Mulally's next move?; where Barra outranks Musk; F-Series, Corvette top 'Made in America' list. Read More »


GM's 1st-quarter profit to take hit from recalls

This was supposed to be the year when GM made a record $10 billion in profit. But the company, rocked by a recall crisis, will be hard pressed to avoid posting a loss when first-quarter earnings are released on Thursday. Read More »


Jaguar, Land Rover, Ford gain in blue-sky store values

Jaguar, Land Rover and Ford saw their blue-sky multiples increase in the second half, according to a study by a dealership buy/sell advisory firm. But BMW, Mini, Hyundai, VW and Mazda saw theirs decrease. Read More »

CPO sales rise 11% in 1st quarter

Industrywide sales of certified used vehicles rose 11 percent in the first quarter from the year-earlier level, with many companies registering double-digit increases. Read More »


2015 Ford Mustang order guide hints at key options

The 2015 Ford Mustang order guide is now available to U.S. dealers and the options include a lot of familiar stuff such as racing stripes and tech packages. Read More »


Asbury 1st-quarter sales, continuing-operations profit rise

Asbury Automotive Group reported a 3 percent profit slide for the first quarter of 2014, but improvements in all parts of the business drove profits from continuing operations up sharply. Read More »


AutoNation swipes at third-party car sites as it builds digital footprint

AutoNation wants to reduce its dependency on online lead generators and third-party shopping sites. The United States' largest dealership group plans to build up the group's Web sites to capture online shoppers, part of a multiyear, $100 million campaign to rebrand itself. Read More »


Asbury to open 2 used-vehicle stores; COO to retire

Asbury Automotive said today it will open two stand-alone used-vehicle stores later this year. The company plans to open the two used-vehicle stores in Florida under the “Q auto” brand name. Read More »

GM owners claim bankruptcy fraud to keep recall suits alive

GM's request for court protection from 50 car-owner lawsuits seeking compensation for millions of recalled autos with defective ignition switches was attacked as legally “unsupportable.” Read More »


How to spot a phony pay stub, speed loan approvals

An F&I manager who misrepresents a customer's income on a credit application can be accused of bank fraud. Read More »

F&I results rise at 3 public retailers

The first publicly traded new-car dealership groups to report first quarter results -- AutoNation, Sonic Automotive and Asbury Automotive Group -- all reported higher average F&I revenue per vehicle, as part of a trend toward slow but steady improvement. Read More »


Mopar's F&I sales could spark 'almost 6 million' service visits

Mopar’s F&I product volume last year reached 1.5 million contracts in the United States and nearly 2 million contracts worldwide. That’s significant, Mopar chief Pietro Gorlier says.
Read More »

Showa latest supplier to plead guilty to price-fixing, will pay $19.9 million

Showa has agreed to plead guilty to fixing the prices of electric power steering assemblies and to pay a million fine, the Justice Department said today. Read More »


Why Group 1 finds F&I a tougher sell overseas

Think F&I managers have it tough making a sale in the United States? It’s a lot tougher in the United Kingdom and in Brazil, Group 1 Automotive says. Read More »

AutoNation envisions quick, easy buying at digital store

When AutoNation fully rolls out its so-called digital storefront, the following scenario may not be all that far-fetched. Read More »


JCI Q1 profit rises 59% on increase in automotive business

Johnson Controls reported a 59 percent jump in quarterly profit, helped by higher sales in its automotive unit. Read More »


VW faces rising opposition to Scania bid as Alecta rejects offer

VW faces increasing opposition to its 6.7 billion euro bid for the rest of Scania after Alecta, the truckmaker's third-biggest shareholder, rejected the offer. Read More »


Tesla seeks workers for ex-Chrysler property in Calif.

Tesla Motors Inc. has leased an idled parts-distribution center in rural California where it plans to hire engineers and technicians as the maker of luxury electric cars expands operations. Read More »


Fields to take Ford wheel at prime stage

When Mark Fields took charge of Ford's Americas operations nine years ago, it was a major repair job with record losses and a brush with bankruptcy. Today, Ford's North American operations are the envy of the industry. Read More »


BMW woos U.S. buyers with 2 series

BMW is aiming the 2-series coupe at drivers looking for performance and driving dynamics in a compact, rear-wheel-drive package. Read More »


Toyota outsells VW, GM for 3rd straight quarter

Toyota outsold VW Group and GM for a third straight quarter. Toyota sold 2.58 million units in the January-to-March period, it said today. Second place is too close to call as GM and VW said they each sold about 2.4 million vehicles. Read More »


Siemens, BAIC to jointly build parts for green vehicles in China

Germany's Siemens and state-owned Chinese automaker Beijing Automotive will form a joint venture to produce motors and inverters for hybrid and full-electric vehicles. Read More »


New Russian outlook: 'Slower, lower, weaker'

Days after Russia annexed a province of Ukraine and U.S. and European forces mobilized, you would expect a conference in the United States on the future of the Russian auto industry to be pessimistic. Read More »


Toyota shifts gears to lift Prius' prospects in China

Toyota's Prius hybrid is the best-selling gasoline-electric vehicle in the world. In China, it's about as rare as the endangered giant panda. Read More »


Mulally said to line up board post after Ford

Ford CEO Alan Mulally is lining up a substantial corporate position for his next act, probably as a board director or chairman, according to people with knowledge of his plans. Read More »


Corvette museum may keep some damaged 'Vettes, sinkhole on permanent display

GM and officials with the National Corvette Museum in the U.S. will meet next month to determine which of eight Corvettes damaged after plunging into a major sinkhole on Feb. 12 are fit to be restored. Read More »

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