Retail

GM remains bullish on Chevrolet-Manchester United sponsorship deal

July 25, 2014 06:01 CET
One bad season for Manchester United has not shaken GM's belief in its sponsorship deal with the English soccer club. Chevrolet's logo appeared on players' jerseys for the first time when United beat the Los Angeles Galaxy team in a friendly match in Pasadena, California.... Read More »

 

Bentley may add a fifth model after SUV launch

9:51 am U.S. ET | July 24, 2014
Bentley may add a fifth model to its lineup after it launches an SUV in 2016, CEO Wolfgang Duerheimer said. The new model could be a two-seat sports car or a larger model slotted between the Continental GT coupe and Mulsanne sedan.... Read More »

 

Ford Q2 earnings rise on N.A. record, first European profit in 3 years

6:45 am U.S. ET | July 24, 2014
Ford posted a second-quarter pretax profit of $2.6 billion, bolstered by a record performance in North America and its first quarterly profit in Europe in three years.... Read More »

 

Bentley may add a 5th model after SUV launch

July 24, 2014 15:51 CET
Bentley may add a fifth model to its lineup after it launches an SUV in 2016, CEO Wolfgang Duerheimer said. The new model could be a two-seat sports car or a larger model slotted between the Continental GT coupe and Mulsanne sedan.... Read More »

 

Group 1 Q2 profit tumbles 55% on Brazilian problems

9:47 am U.S. ET | July 24, 2014
Group 1 Automotive today said its second-quarter net income tumbled 55 percent from a year earlier to $16.9 million, dragged down by a struggling economy in Brazil which accounts for 8 percent of its revenue.... Read More »

 

Outstanding U.S. auto loans hit all-time high, Equifax says

1:58 pm U.S. ET | July 24, 2014
Total outstanding auto loans in the United States hit an all-time high of $902 billion this spring, an increase of more than 10 percent from the same time a year earlier, according to the latest Equifax National Consumer Credit Trends Report, which was released today.... Read More »

 

Bentley CEO rolls back 'aggressive' sales forecasts

July 24, 2014 13:12 CET
Bentley expects 2014 deliveries to be lower than previously forecast as the carmaker is hit by the crisis in Ukraine and Russia and struggles to maintain high sales growth in China.... 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 »

 

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 -- on higher revenues and cost controls.... Read More »

 

Suburban Collection buys BMW, Mercedes dealerships in Ann Arbor

4:08 pm U.S. ET | July 23, 2014
The Suburban Collection has acquired two more Michigan dealerships: BMW of Ann Arbor and Mercedes-Benz of Ann Arbor. The two dealerships were acquired from Sonic Automotive for an undisclosed amount.... 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 »

 

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 »

 

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 »

 

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 »

 

Targeted digital video ads deliver preferred car colors

12:01 am U.S. ET | July 22, 2014
A New York company that creates personalized online video ads is harnessing the power of the palette. Say, for instance, a car shopper builds a shiny red SUV in an automaker's online configurator. Eyeview says its technology can deliver an online video advertisement of that shiny red SUV directly to that customer.... Read More »

 

New F-150's fuel economy will improve, but can it best Ram 1500?

2:50 pm U.S. ET | July 22, 2014
Ford's new aluminum-bodied 2015 F-150 pickup coming this fall might not be able to beat Chrysler Group's Ram 1500 and claim best-in-class fuel economy.... Read More »

 

Sonic's Q2 profits triple on extraordinary items; expenses rise

12:18 pm U.S. ET | July 22, 2014
Sonic Automotive posted higher revenue and net profit during the second quarter, but expenses increased as the retailer continues to ready its launches of a new customer-experience initiative and standalone used-car stores.... Read More »

 

Buick Regal, Volvo S60 join Consumer Reports' list of top upscale, sports sedans

6:00 am U.S. ET | July 22, 2014
The Buick Regal, refreshed with a revamped powertrain for 2014, now ranks among the top upscale sports sedans tested by Consumer Reports, just behind the BMW 328i but high enough to easily top the magazine's road test scores for the Cadillac ATS and CTS sedans.... Read More »

 

Asbury posts Q2 double-digit profit, revenue gains

7:07 am U.S. ET | July 22, 2014
Improving car sales and a double-digit revenue jump helped drive second-quarter profits up 33 percent at Asbury Automotive Group, as all parts of its business showed gains, the auto retailer said today.... Read More »

 

Former Ford digital exec Monty joins PR and social media firm

9:16 am U.S. ET | July 22, 2014
Scott Monty, Ford's former social media chief who left the automaker two months ago, is joining Shift Communications, a public relations and social media agency with offices in Boston, San Francisco and New York.... Read More »

 

Rolls-Royce names new China boss

July 22, 2014 06:01 CET
Rolls-Royce has named BMW veteran Leon Li as regional director for its China operations. China demand helped to boost the ultraluxury brand's global vehicle sales to a record 3,630 last year.... Read More »

 

Mercedes seeks to outpace premium rivals in China with more dealers, new models

July 22, 2014 10:35 CET
Mercedes expects to outpace the 17 percent to 18 percent growth in industry sales of premium vehicles in China this year, after merging two competing sales networks and adding new models.... Read More »

 

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