THE GM RECALL

GM lists more Cobalt, Ion fatalities in quarterly crash data

3:37 pm U.S. ET | July 23, 2014
In the first quarter, General Motors received claims that defects in the Chevrolet Cobalt and Saturn Ion caused 17 deaths and 167 injuries, according to data it submitted to federal safety regulators. The disclosures do not link directly to the company's recalls for faulty ignition switches, but they suggest that the pool of potential victims could expand.... Read More »

 

Fiat investors urged to vote against Chrysler merger

2:59 pm U.S. ET | July 23, 2014
Proxy advisor ISS has recommended that Fiat investors vote against a cross-border merger of the Italian carmaker and its U.S. unit Chrysler at a meeting on Aug. 1, saying it would reduce shareholder rights.... Read More »

 

New-look Yaris will start at $15,670

2:54 pm U.S. ET | July 23, 2014
Pricing on the 2015 Yaris, Toyota’s struggling subcompact car, will start at $15,670, including shipping. Toyota gave the 2015 Yaris a face-lift in hopes that a newer look will attract more buyers.... Read More »

 

First Shift: Signs of Kia Mexico plant

12:01 am U.S. ET | July 23, 2014
$1.5 billion factory in works, state officials say; Chrysler ignition recall; Nissan looks to stay quirky; ready for 'new majority'?... Read More »

 

THE GM RECALL

GM recalls 717,950 vehicles, pushing year's recall tally to 60

2:07 pm U.S. ET | July 23, 2014
General Motors is recalling another 717,950 vehicles in the United States, mostly 2010-12 model year cars and crossovers, lifting its total for the year to a record 60 safety campaigns covering around 29 million vehicles globally.... Read More »

 

Hyundai nabs a win in J.D. Power APEAL Study a month after leading IQS

10:00 am U.S. ET | July 23, 2014
For the first time, Hyundai is the top-ranked nonpremium brand in the J.D. Power 2014 U.S. Automotive Performance, Execution and Layout Study -- a month after leading nonpremium brands in the company's Initial Quality Study.... Read More »

 

F&I revenue growth slows in Q2 for some major dealership groups

12:01 am U.S. ET | July 23, 2014
Of the four publicly traded new-car dealership groups that have reported second-quarter results, only one has posted a higher rate of growth in F&I revenue per vehicle retailed than it did a year ago. Lithia Motors today reported average F&I revenue per vehicle of $1,206, up 9.4 percent from the 2013 period. Last year at this time, its per-vehicle F&I revenue rose 4.4 percent from the year-earlier period.... Read More »

 

JIM HENRY

N.Y. Times story on subprime offers feds ammunition

12:01 am U.S. ET | July 23, 2014
A withering account of subprime auto lending in Sunday's New York Times reinforces bad stereotypes about used-car dealers, smears subprime lenders and their investors, takes out of context an increase in delinquencies and loan losses from record lows, and provides ammunition to auto finance industry critics in Washington.... Read More »

 

Smarter consumers, fewer defaults

12:01 am U.S. ET | July 23, 2014
The National Association of Minority Automobile Dealers and Ally Financial are partnering to promote financial literacy in stores. The program was unveiled at NAMAD's annual conference on July 9 in Miami. This is an excerpt from the July 14 AutoNews Now newscast.... Read More »

 

Some worry about F&I product regs, but not Jackson

12:01 am U.S. ET | July 23, 2014
AutoNation CEO Mike Jackson says that unlike some in the retail industry, he's not worried the Consumer Financial Protection Bureau could have plans to impose stricter monitoring of financing for F&I products.... Read More »

 

Capital One, Huntington target more prime loans

12:01 am U.S. ET | July 23, 2014
Capital One continues to push aggressively in auto loans while other big banks, such as Chase and Wells Fargo, have slowed auto loan growth amid accelerating competition, especially in prime-risk lending. Regional powerhouse Huntington Bank, based in Columbus, Ohio, is also pursuing much bigger volumes in prime auto loans... Read More »

 

Japan readies fuel cell subsidies in bet on Toyota's next big thing

10:44 am U.S. ET | July 23, 2014
Japan is readying subsidies to help Toyota and key suppliers take the lead in hydrogen-powered fuel cell vehicles that could top $400 million over the next several years if the most bullish projections for the technology play out.... Read More »

 

F&I TIP

3 questions can help sell GAP

10:21 am U.S. ET | July 23, 2014
Three questions can persuade customers to buy GAP from the dealership instead of their insurance company, says Mike Hustead, senior finance manager at Freedom Kia in Clarksburg, W.Va. (1) “A texting teenager T-bones you. Whose insurance is responsible?” Customer: “His.” (2) “Right. His insurance says your car is worth $30,000. You owe $35,000. Whose insurance pays the $5,000 difference?” Customer: “Mine.” (3) “Correct.... Read More »

 

DAVE GUILFORD

Maybe the EPA should just hire Consumer Reports for mpg ratings

10:10 am U.S. ET | July 23, 2014
Maybe the federal government should adopt Consumer Reports as a model for fuel economy testing. Or just outsource the task to the magazine.... Read More »

 

Lithia Q2 profits hit record highs

8:39 am U.S. ET | July 23, 2014
Lithia Motors today reported the highest adjusted quarterly net income in the company's history -- a 29 percent surge to $35 million.... Read More »

 

GM sales surge despite recalls as Barra proves quality sells

9:10 am U.S. ET | July 23, 2014
General Motors' Mary Barra is projected to report her second straight quarter of rising sales, adding to evidence that the CEO is weathering the biggest wave of recalls in automotive history. Second-quarter revenue may rise 2.7 percent, the average of estimates compiled by Bloomberg.... Read More »

 

Daimler quarterly earnings rise 12% on sales of S class

July 23, 2014 08:25 CET
Daimler said second-quarter profit rose 12 percent as Mercedes S-class sales doubled and the company scaled back spending.... Read More »

 

Marchionne says Fiat Chrysler tie-up with VW was never on agenda

July 23, 2014 12:27 CET
Fiat Chrysler CEO Sergio Marchionne quashed all speculation of a possible tie-up with Volkswagen, saying the idea had never been on the agenda.... Read More »

 

Bentley names VW veteran as human resources chief

July 23, 2014 06:01 CET
Bentley named VW Group executive Marlies Rogait as its new head of human resources.... Read More »

 

Nissan pledges to keep it quirky after cutting Cube

6:35 am U.S. ET | July 23, 2014
Nissan pledges to add an “iconic” design to keep its lineup quirky after cutting two of the brand's most polarizing nameplates, the Cube and Murano CrossCabriolet.... Read More »

 

Brakes supplier Brembo to build new U.S. plant

July 23, 2014 12:05 CET
Italian brakes manufacturer Brembo will build a new foundry in Michigan to expand its manufacturing capability in the United States, betting on the continued strength of the country's automotive sector.... Read More »

 

Brembo to invest nearly $100M in new Michigan foundry, expand capacity

6:54 am U.S. ET | July 23, 2014
Italian brakes maker Brembo will build a new foundry in Michigan to expand its manufacturing capability in the United States, betting on continued strength of the country's automotive sector.... Read More »

 

Sogefi reports first-half loss on restructuring costs, Brazil downturn

July 22, 2014 15:29 CET
Italian supplier Sogefi reported a first-half net loss, hit by restructuring costs, the negative impact of the strong euro on South American currencies and a sharp slowdown in the Brazilian market.... Read More »

 

First Shift: Have SUVs peeled ahead?

12:01 am U.S. ET | July 22, 2014
Snyder: Comparing tall vehicles, cars can be a case of apples versus grapefruit; Buick Regal impresses CR; Tesla downtime.... Read More »

 

GM to invest $800 million to renovate operations, add 1,750 jobs in Michigan

6:07 pm U.S. ET | July 22, 2014
GM plans to invest $800 million in Michigan as part of plans to renovate facilities throughout the state to support future vehicle platforms and programs. The company will also add 1,750 jobs in the state after consolidating various engineering functions outside Michigan to a site in Michigan, the state said Tuesday in enhancing economic development incentives for the automaker.... Read More »

 

Special Report
Fewer bosses, Disney savvy, $2 idea lift stores

Fewer bosses, Disney savvy, $2 idea lift stores

A Chrysler Group dealership chain is stripping away layers of management to sell cars faster. A Chevrolet-Cadillac store is enchanting customers through Disney training. Mon., July 21
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