AutoNews Now: Peeling off from Ferrari

12:01 am U.S. ET | Oct. 29, 2014
Fiat Chrysler tackling debt, ambitious growth plan; Chrysler, Ford recalls; GM to expand Mich. plant; Nissan aids Ebola fight.... Read More »

 

First Shift: Worker speaks up, GM acts

12:01 am U.S. ET | Oct. 29, 2014
Program encourages raising safety concerns; Takata's big test; new leader at NHTSA?; Edmunds makes buy; rise of 3-D printing.... Read More »

 

Fiat Chrysler to issue $2.5 billion bond

Oct. 29, 2014 15:40 CET
Fiat Chrysler will issue a mandatory convertible bond for $2.5 billion and place up to 100 million of its shares to shore up funding for its 48 billion euro ($61 billion) investment plan.... Read More »

 

Fiat Chrysler profit increases 7% in Q3

Oct. 29, 2014 15:09 CET
Fiat Chrysler reported a slightly lower-than-expected 7 percent rise in third-quarter operating profit on weak margins in North America and a slowdown in Latin America, but stuck to its full-year guidance of a 14 percent rise in profit.... Read More »

 

Renault's revenue rises on Dacia, Europe

Oct. 29, 2014 21:26 CET
Renault reported a 7 percent increase in revenue in the third quarter, boosted by higher demand for low-cost Dacia models in its home region. Revenue rose to 8.53 billion euros ($10.9 billion) from 7.99 billion euros a year earlier.... Read More »

 

JLR picks Discovery Sport to lead Brazil output

Oct. 29, 2014 16:00 CET
The Land Rover Discovery Sport will be the first model Jaguar Land Rover produces at its new plant in Brazil, the automaker said. Output will begin in 2016.... Read More »

 

Fiat Chrysler to spin off 10% of Ferrari, raise cash as debt surges

9:13 am U.S. ET | Oct. 29, 2014
Fiat Chrysler Automobiles plans to spin off the Ferrari super-car brand, underpinning efforts to raise about $4.7 billion as the Italian-American carmaker counters rising debt.... Read More »

 

Maserati beats Ferrari in Q3 profit on Montezemolo exit

Oct. 29, 2014 18:22 CET
Maserati's quarterly profit topped Ferrari's for the first time since it became part of Fiat Group more than 25 years ago. The main reason was that Ferrari took a big financial hit to part ways with Luca Cordero di Montezemolo.... Read More »

 

NHTSA steps up inquiry into defective Takata airbags

7:39 pm U.S. ET | Oct. 29, 2014
More than 18 months after Honda and other automakers announced recalls to fix exploding airbags, U.S. regulators are now asking the companies to speed up repairs.In letters today to 10 automakers, the National Highway Traffic Safety Administration asked for details about how the companies are reaching nearly 8 million affected consumers and what is being done for people who are afraid to drive their cars.... Read More »

 

Lawmakers ask GAO to review NHTSA actions

4:47 pm U.S. ET | Oct. 29, 2014
Bipartisan leaders of a key House committee have asked Congress' independent watchdog arm for a review of the National Highway Traffic Safety Administration amid escalating concern over the agency's handling of the General Motors ignition switch and Takata airbag recalls.... Read More »

 

Penske Automotive eyes more growth overseas, retail truck stores

10:04 am U.S. ET | Oct. 29, 2014
Penske Automotive wants to grow by snapping up more car dealerships overseas and buying other businesses, such as heavy-duty retail truck stores. Penske said today it agreed to raise its stake in The Around The Clock Freightliner Group, a “heavy-duty retail truck dealership group” in Texas, Oklahoma and New Mexico. Penske said such businesses are attractive because they provide strong revenue with lower costs.... Read More »

 

Freshened 2016 Ford Explorer to debut in L.A.

4:32 pm U.S. ET | Oct. 29, 2014
Ford will reveal the 2016 Ford Explorer at the Los Angeles Auto Show on November 19. The latest version of the Explorer will go on sale next year in North America, Ford said in a statement today.... Read More »

 

Mitsubishi's net rises 8 percent as U.S. sales soar

3:28 pm U.S. ET | Oct. 29, 2014
Mitsubishi Motors said net income rose 8 percent in the latest quarter, aided by results in North America.... Read More »

 

LUCA CIFERRI

Ferrari will go public but remain private

3:40 pm U.S. ET | Oct. 29, 2014
Soon it will be possible to own a stake in Ferrari, but even when it is publicly listed the Italian supercar maker probably will be controlled by a very select group.... Read More »

 

JIM HENRY

The story behind that list of dealership slang

12:01 am U.S. ET | Oct. 29, 2014
F&I managers -- mostly appalled, but at least partly amused -- recently passed around online a link to a “Car Dealer Dictionary” of dealership slang, including terms that are supposedly in use in F&I departments.... Read More »

 

Edmunds.com buys startup, plans to offer texting services to dealerships

12:09 pm U.S. ET | Oct. 29, 2014
Edmunds has purchased a startup texting technology company that it helped nurture. The acquisition will enable Edmunds dealership subscribers to offer texting services to mobile customers.... Read More »

 

GM takes charge of its branded F&I products

6:53 am U.S. ET | Oct. 29, 2014
General Motors is bringing the sales of its branded F&I products in-house, taking over responsibility from captive finance company GM Financial, in a move designed to give those sales a shot in the arm and get those products on more GM dealerships' radar.... Read More »

 

Ford recalls 204,448 Ford and Lincoln crossovers for fire hazard

10:34 am U.S. ET | Oct. 29, 2014
Ford said it will conduct a regional recall of 204,448 Ford Edge and Lincoln MKX crossover vehicles to correct an issue that could cause a fire. The 2007-2008 models have fuel tank reinforcement brackets that could become corroded, which in turn could result in a fuel leak and a possible fire, Ford said today.... Read More »

 

F&I TIP

Why you shouldn't dis credit unions

10:24 am U.S. ET | Oct. 29, 2014
Negative statements about credit unions are “an absolute credibility killer,” says George Angus. Customers believe in their credit unions. “It's like a cult,” says Angus, the veteran head trainer for Team One Group, of Scottsdale, Ariz. Instead of fighting credit unions, sign up with as many of them as possible, he advises.... Read More »

 

Fiat Chrysler Q3 profit rises on Jeep demand

9:16 am U.S. ET | Oct. 29, 2014
Fiat Chrysler Automobiles reported a 7.4 percent increase in profit in the third quarter, bolstered by sales growth in the United States.... Read More »

 

VW recalls Audi A4s in China over airbag issue

Oct. 29, 2014 10:33 CET
VW Group's joint venture with FAW Group will recall 270,635 Audi A4s in China due to an airbag software issue, the country's quality watchdog said on Wednesday. The recall involves 4,692 imported A4 allroad variants and 265,943 China-made A4Ls.... Read More »

 

2 Chrysler recalls involve more than 566,000 vehicles

8:04 am U.S. ET | Oct. 29, 2014
Chrysler Group is recalling an estimated 381,876 Ram trucks equipped with 6.7-liter Cummins diesel engines globally to upgrade wiring harness terminals and replace their fuel-heater housings, if needed. Separately, it is recalling an estimated 184,186 2014 Dodge Durango and Jeep Grand Cherokees to update the vehicles' electronic stability control software.... Read More »

 

Fiat Chrysler's growth plans clouded by Brazilian outlook

Oct. 29, 2014 11:52 CET
Fiat Chrysler aims to boost sales in Latin America by 44 percent over five years but a recent big drop in volume and weakening outlook in Brazil, the region's biggest economy, threaten to spoil its ambitions.... Read More »

 

Ally swings to $356 million Q3 profit on higher auto-loan demand

8:40 am U.S. ET | Oct. 29, 2014
Ally Financial said that its third-quarter profit jumped from a year-earlier loss because of higher demand for loans from car dealerships.... Read More »

 

Huntington Bank focuses on internal auto loan growth

7:22 am U.S. ET | Oct. 29, 2014
Huntington Bank, of Columbus, Ohio, switched gears in the last year from expanding its footprint and adding new markets to cultivating more business with its existing dealer network.... Read More »

 

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Racing, tech events draw crowds to Hoffman stores

Racing, tech events draw crowds to Hoffman stores

Hoffman Auto Group holds more than 100 elaborate events annually to attract and retain customers. Some buyers zip around a racetrack in Porsches at 130 mph. Mon., October 27
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