GM bets on technology and Cadillac to become 'most valued' automaker

10:38 am U.S. ET | Oct. 1, 2014
General Motors is counting on a parade of new technology-packed models to drive sales growth and profitability in North America and China over the next four years as part of an ambitious push to become the world's “most valued” automaker by early in the next decade.... Read More »

 

GM sees first European profit in 2016 after years of losses

Oct. 1, 2014 18:02 CET
GM expects its first profit in Europe in more than a decade in 2016. The automaker said $1.5 billion in improved operating results in the region by 2016 will include the elimination of $700 million in restructuring costs and the addition of $400 million from increased sales.... Read More »

 

SEPTEMBER U.S. AUTO SALES

GM, Nissan, Chrysler sales rise 19% on strong light truck volume

8:00 am U.S. ET | Oct. 1, 2014
GM, Chrysler Group and Nissan Group -- fueled by robust demand for light trucks -- set the pace among major automakers as each posted U.S. sales gains of 19 percent in September. Honda followed with a 12 percent gain. The increases were countered by slight advances at Hyundai and Toyota Motor Corp., while Ford Motor Co. declined. The results come amid forecasts of a 10 percent gain for the U.S. market overall as the industry coasts towards a fifth straight year of recovery from the recession.... Read More »

 

Chevy Trax will start at $20,995 in U.S. debut

11:51 am U.S. ET | Oct. 1, 2014
The 2015 Trax, Chevrolet's seventh small vehicle launched in the past four years, will start at a retail price of $20,995 including shipping, General Motors said in a statement today.... Read More »

 

MIKE COLIAS

What the new Opel Corsa and next-gen Chevy Volt have in common

1:33 pm U.S. ET | Oct. 1, 2014
It wasn't long ago when the smallest engine in one of General Motors' smallest European cars wouldn't have stood a chance of showing up under hoods in the United States. But times have changed, thanks to tightening fuel-economy and emissions standards.... Read More »

 

GM deliveries advance 19%; biggest jump in 3 years

12:01 am U.S. ET | Oct. 1, 2014
GM's sales rose 19 percent in September, its largest year-over-year gain in three years, to 223,437, with full-size pickups accounting for more than half of the increase. GM's fleet sales rose 30 percent, while its total retail sales increased 17 percent. By segment, retail sales declined 1 percent for GM's lineup of cars and crossovers but surged 48 percent for trucks and SUVs.... Read More »

 

Italy car sales rise 3% in September

Oct. 1, 2014 19:33 CET
New-car registrations in Italy rose 3 percent in September, according to data published by the country's transport ministry. Full-year sales are seen rising to about 1.35 million, up from the 1.3 million units sold last year.... Read More »

 

Chrysler Capital lowers rate cap on dealer reserve

12:01 am U.S. ET | Oct. 1, 2014
Chrysler Capital is cutting its maximum permissible dealer reserve to 175 basis points, or 1.75 percentage points, effective today. The previous maximum was 200 basis points. Chrysler Capital, which provides full-service financing to Chrysler Group dealerships, notified retailers of the change in a fax last week.... Read More »

 

Ford sales slip 3% on soft F-series demand, drop in fleet

12:01 am U.S. ET | Oct. 1, 2014
Soft F-series pickup sales and a 40 percent cutback in sales to rental fleets pushed Ford Motor Co.’s September sales down 3 percent from a year earlier, to 179,518 units. Overall fleet sales fell 14 percent to 42,878.... Read More »

 

Mercedes to lower mpg ratings on some C-class sedans

12:45 pm U.S. ET | Oct. 1, 2014
Mercedes-Benz will lower the fuel economy ratings of some late-model C-class sedans after an audit by federal regulators found errors in mpg testing by the automaker.... Read More »

 

Ford Credit rolls out 75-month loans nationwide

12:01 am U.S. ET | Oct. 1, 2014
Ford Motor Credit has joined the trend toward longer loans, rolling out 75-month terms nationwide starting today. The company previously had conducted a pilot program.... Read More »

 

Magna unit to acquire closures supplier Techform

12:55 pm U.S. ET | Oct. 1, 2014
Magna International's closures unit plans to acquire Techform Group, a supplier of hinges, door locking rods and other closure products. Terms of the deal, expected to be completed early this month, were undisclosed.... Read More »

 

Is it wise to keep putting the car before the cash?

12:01 am U.S. ET | Oct. 1, 2014
Dealerships can and should take some of the risk out of making spot deliveries, experts say.... Read More »

 

JIM HENRY

Lenders must look through consumers' eyes

12:01 am U.S. ET | Oct. 1, 2014
In the second of what's shaping up to be a series of attacks on subprime auto finance -- the first was in July -- The New York Times last week made a breathless page one story out of a years-old device: the vehicle starter interrupt.... Read More »

 

Dealer software provider CDK goes public as it spins off from ADP

11:24 am U.S. ET | Oct. 1, 2014
CDK Global, formerly ADP Dealer Services, went public Tuesday as part of being spun off by parent Automatic Data Processing Inc., CDK Global announced today.... Read More »

 

Q&A

F&I managers need intelligence, empathy -- and good training

12:01 am U.S. ET | Oct. 1, 2014
Today’s all-out emphasis on regulatory compliance has led to the biggest change in F&I training in recent memory, says Robert Serum, a career educator in dealership operations. The biggest F&I hurdle, though, remains the same, he says: The need for dealerships to find the right person to head the department.... Read More »

 

PSA's Tavares keeps door open to partnerships

Oct. 1, 2014 16:42 CET
PSA CEO Carlos Tavares says the carmaker is open to potential partnerships but must first complete its restructuring. In July, PSA reported a surprise surge in first-half cash flow and the first auto-division profit in three years.... Read More »

 

2014 PARIS AUTO SHOW

Opel hopes new Corsa will remain a best seller

Oct. 1, 2014 15:48 CET
Opel hopes its heavily reworked Corsa will remain a best seller, despite the fact that the subcompact is still using some components from the older platform. The next generation of the hatchback is due to launch in 2018.... Read More »

 

F&I TIP

How high-tech vehicles can sell service contracts

9:57 am U.S. ET | Oct. 1, 2014
F&I managers should exploit customers’ concern about complicated technology to help sell extended service contracts, said F&I trainer Rick McCormick at last month’s Industry Summit in Las Vegas. He pointed to this year’s J.D. Power Initial Quality Study, which showed an increase in “things gone wrong.... Read More »

 

2014 PARIS AUTO SHOW

Lamborghini, Ferrari supercars join fuel sippers as show stars

Oct. 1, 2014 06:01 CET
Supercars such as a new 900hp Lamborghini and the Ferrari 458 Speciale A will line up alongside fuel-efficient plug-in hybrids such as the VW Passat GTE at the Paris auto show. The Mercedes-AMG GT and Jaguar XE will also debut.... Read More »

 

EU probes Portugal's MQB platform aid to Volkswagen

Oct. 1, 2014 12:37 CET
The European Union has launched an investigation into Volkswagen's planned receipt of 36.15 million euros ($45.6 million) of state aid for investing in its MQB platform technology at a plant in Portugal.... Read More »

 

First Shift: Ford hiring 1,000 in Canada

12:01 am U.S. ET | Oct. 1, 2014
Overseas exports for redesigned Edge; GM landmark; dealer Irma Elder, Chevy collector Ray Lambrecht die; Detroit truck tactics.... Read More »

 

Jaguar XE to offer awd, diesel engine in U.S.

7:59 am U.S. ET | Oct. 1, 2014
The Jaguar XE compact sedan will launch with optional all-wheel drive and a four-cylinder diesel engine when it goes on sale in the U.S.... Read More »

 

Ford to add 1,000 jobs at Canada plant making redesigned 2015 Edge

7:29 am U.S. ET | Oct. 1, 2014
As it prepares to launch the redesigned 2015 Edge crossover for global markets, Ford will add more than 1,000 jobs at its Oakville Assembly plant in Canada.... Read More »

 

GreenTech Automotive raises $47 million in equity offering

6:31 am U.S. ET | Oct. 1, 2014
GreenTech Automotive Inc., the battery-powered carmaker previously led by Virginia Gov. Terry McAuliffe, raised $47 million in an equity round. Ninety-four investors contributed to the financing, according to a filing Monday with the U.S. Securities and Exchange Commission.... Read More »

 

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