Public retailers boost F&I profits in Q2

12:30 pm U.S. ET | July 29, 2015

F&I profits increased at all six of the largest public new-car retailers in the second quarter. The nation's largest retailer, AutoNation, led the way with F&I revenue per new vehicle retailed of $1,528 on a same-store basis.... Read More »

HANNAH LUTZ

BLOG: AutoNation, Group 1 are neck and neck in F&I race

12:30 pm U.S. ET | July 29, 2015

AutoNation overtook former frontrunner Group 1 Automotive for the top spot among the public retailers in F&I profit per vehicle in the second quarter. Or did it? It depends on how you measure.... Read More »

Ally's second-quarter auto lending flat despite GM pullback

11:45 am U.S. ET | July 29, 2015

Ally Financial's second-quarter auto lending originations declined just 1 percent from a year earlier to $10.8 billion, despite a sharp drop in lease originations for GM vehicles. For the first time, GM accounted for less than half of Ally's auto originations.... Read More »

PSA says anti-French backlash weighs on Iran talks

July 29, 2015 12:20 CET

PSA's talks on a manufacturing venture with Iran's biggest carmaker are being undermined by anti-French sentiment in the country, CEO Carlos Tavares said. Iranians are hostile because France took a tough line in talks to lift international sanctions against Iran.... Read More »

F&I TIP

Start where the customer left off

10:06 am U.S. ET | July 29, 2015

Although most customers research products before entering the F&I office, “traditional dealerships still want to take them through all the steps. It creates a lot of tension,” says Justina Davis, director of performance development at JM&A. Instead, she suggests, find out where the customers left off and start the process there. Make what they’re getting at the dealership match their online experience. “Be open and transparent. Show them what’s on the iPad.”... Read More »

Penske Automotive Q2 earnings rise 29.5%

9:06 am U.S. ET | July 29, 2015

Penske Automotive Group Inc. reported second-quarter net income rose 29.5 percent driven largely by a higher volume of vehicle sales and a solid performance in all business segments.... Read More »

VIDEO: First Shift: U.S., yen fuel Nissan profit

12:01 am U.S. ET | July 29, 2015

U.S., yen fuel Nissan profit; Calif. dealership whacks Trump; judge cuts Jeep verdict; hope for Hyundai pickup; vehicles slowly get older.... Read More »

PSA reports positive H1 earnings for first time in four years

July 29, 2015 08:33 CET

PSA/Peugeot-Citroen posted positive first-half net income for the first time in four years as the automaker tightened control on spending and sold more vehicles at higher prices in its home region and in Asia. Net income was 571 million euros ($631 million), after a 114 million euro loss a year earlier.... Read More »

Nissan Q1 earnings jump 58% on strong U.S. sales, weak yen

4:36 am U.S. ET | July 29, 2015

Nissan said first-quarter operating profit soared 58 percent, lifted by strong vehicle sales in the U.S. and China as well as a weak yen which boosted the value of earnings overseas.... Read More »

VW boosts Q2 profit on Europe recovery but lowers sales forecast as China slows

July 29, 2015 09:27 CET

Volkswagen posted higher quarterly profit on a strengthening European recovery and cost cuts but lowered its global sales forecast amid a slowdown in China and challenging markets in Russia and South America.... Read More »

Nissan backs away from dealer ad attacking Trump for denouncing Mexican immigrants

9:00 pm U.S. ET | July 28, 2015

Nissan distanced itself from a controversial ad created by a California dealership that shows store managers whacking away at a Mexican piņata resembling Republican Party presidential candidate Donald Trump.... Read More »

Hyundai compact truck based on Santa Cruz concept set for approval

3:15 pm U.S. ET | July 28, 2015

Positive public reaction on the auto show circuit has reportedly helped persuade Hyundai to build the Santa Cruz truck.... Read More »

Ford Q2 net soars 44% for strongest auto profit in 15 years

7:00 am U.S. ET | July 28, 2015

Ford's second-quarter net income increased 44 percent from a year earlier to $1.9 billion, marking the best quarterly profit from its automotive business since 2000. The automaker posted a record quarterly profit in North America, despite lackluster sales in the U.S., as the redesigned F-150 and other vehicles commanded higher prices.... Read More »

Jeep hacking sends warning to BMW, Audi and Mercedes

July 28, 2015 10:55 CET

When friendly hackers landed a Fiat Chrysler Jeep in a ditch last week, it sent a warning to BMW, Audi and Mercedes as the premium automakers compete increasingly on technology rather than just horsepower.... Read More »

GM prices diesel Colorado from $31,700; towing capacity set at 7,700 pounds

9:00 am U.S. ET | July 28, 2015

DETROIT -- The diesel-powered Chevrolet Colorado will be priced from about $31,700 to $38,700, including destination charge, when it debuts this fall.
... Read More »

Jeep fuel-tank fire death verdict slashed to $40 million

4:46 pm U.S. ET | July 28, 2015

A judge in Georgia has reduced a $150 million award to $40 million for the family of a young boy killed when the 1999 Jeep Grand Cherokee in which he was riding was rear-ended and burst into flames, according to orders released on Tuesday.... Read More »

GM plans $5B vehicle family for emerging markets

12:01 am U.S. ET | July 28, 2015

GM plans to spend $5 billion over the next several years to develop a new range of technology-rich small cars, based on a common architecture, that will be built and sold under the Chevrolet name in China, Brazil, India, Mexico and other emerging markets.... Read More »

Daimler, Renault-Nissan detail plans for Mexico JV plant

1:44 pm U.S. ET | July 28, 2015

Daimler and the Renault-Nissan Alliance said today their new plant for Mercedes-Benz and Infiniti cars in Aguascalientes, Mexico, will employ some 3,600 staff and have an initial production capacity of more than 230,000 vehicles.... Read More »

GM prices diesel Chevy Colorado from $31,700

9:00 am U.S. ET | July 28, 2015

The diesel-powered Chevrolet Colorado will be priced from about $31,700 to $38,700, including destination charge, when it debuts this fall. It will also have a towing capacity of 7,700 pounds, GM said today.... Read More »

Jeep hacking sends warning to BMW, Audi and Mercedes

4:55 am U.S. ET | July 28, 2015

When friendly hackers landed a Jeep Cherokee in a ditch last week, it sent a warning to BMW, Audi and Mercedes as the luxury automakers compete increasingly on technology rather than just horsepower.... Read More »

Honda readies more sporty, luxurious Civic

11:00 am U.S. ET | July 28, 2015

With the official debut of Honda's redesigned Civic just a few months away, the latest spy shots show the 10th-generation model will come with luxury features normally reserved for fancy German sedans, not practical Japanese family cars.... Read More »

RICHARD TRUETT

BLOG: GM's new powertrain boss, with bases covered, aims for high batting average

12:00 pm U.S. ET | July 28, 2015

Dan Nicholson is charged with ensuring GM Powertrain does its part to improve the fuel economy of the company's North American vehicles about 5 percent a year to reach the 2025 fleet average of 54.5 mpg target set by the U.S.... Read More »

VIDEO: AutoNews Now: Chevy: Diesel Colorado has an edge

12:01 am U.S. ET | July 28, 2015

Chevy: Diesel Colorado has an edge; F-150's limited Q2 role; U.S. on Aston's radar; Spied Civic is sporty; powertrain projections.... Read More »

Chinese supplier YFS to build plant in Detroit

3:08 pm U.S. ET | July 28, 2015

Chinese auto supplier YFS Automotive Systems said it plans to construct a 150,000-square-foot plant on 30 acres of vacant industrial property in Detroit.... Read More »

Ally's Q2 auto lending flat despite GM pullback

1:12 pm U.S. ET | July 28, 2015

Ally Financial's second-quarter auto lending originations declined just 1 percent from a year earlier to $10.8 billion, despite a sharp drop in lease originations for General Motors vehicles, the company said today.... Read More »

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