Automakers and Suppliers

Ford hires 400 more than planned in Canada to support output of new Edge

12:01 am U.S. ET | Feb. 26, 2015
Ford has hired about 400 more workers than it previously said it would need to build the redesigned Edge crossover in Canada.... Read More »

 

2015 GENEVA AUTO SHOW

VW says new Touran is lighter, roomier, more frugal

Feb. 25, 2015 12:13 CET
VW's new lighter, roomier Touran minivan will offer the biggest luggage compartment in its class, along with new active and passive safety features and seamless connectivity to Apple and Android smartphones, the automaker said.... Read More »

 

2015 GENEVA AUTO SHOW

Aston says Vulcan supercar will cost $2.79 million

Feb. 25, 2015 11:06 CET
Aston Martin said its 800-plus-hp Vulcan will cost 1.8 million pounds ($2.79 million) in the company's UK home market. Aston said the carbon fiber supercar is powered by the most potent iteration to date of the company's naturally aspirated, 7.0-liter V-12 gasoline engine.... Read More »

 

Daimler labor chief queries pace of U.S. expansion

Feb. 25, 2015 10:54 CET
Daimler's plans to expand production in the United States should be recalibrated if the euro remains weak against the dollar, the automaker's top labor chief, Michael Brecht, said.... Read More »

 

GM cutting production at 2 plants as car inventory mounts, sources say

11:12 am U.S. ET | Feb. 25, 2015
General Motors is trimming production at two of its car plants amid mounting dealer inventories, an effort to reduce stocks of the Chevrolet Sonic and Camaro, Buick Regal and other models.... Read More »

 

U.S. orders Takata to preserve airbag inflators for federal probe

4:39 pm U.S. ET | Feb. 25, 2015
A federal safety regulator on Wednesday ordered troubled Japanese supplier Takata to preserve all airbag inflators removed through a recall process as evidence for a federal investigation and private litigation cases.... Read More »

 

Santander Consumer USA to pay $9.35 million settlement over military repos

3:07 pm U.S. ET | Feb. 25, 2015
Santander Consumer USA will pay at least $9.35 million to resolve charges that it improperly repossessed the cars of members of the military, the U.S. Department of Justice said today.... Read More »

 

U.S. auto sales roar toward strongest February since 2002

2:00 pm U.S. ET | Feb. 25, 2015
U.S. auto sales are on pace for the best February since 2002, forecasters say, even as relentless snow slowed demand in the Northeast. February is expected to mark the 12th consecutive month of year-over-year gains for the industry. Analysts said sales have been minimally affected by rising gasoline prices and a work stoppage at West Coast ports that could reduce March inventories of some vehicles imported from Asia.... Read More »

 

Lithia Q4 net income jumps 50% as it makes acquisitions top priority

9:38 am U.S. ET | Feb. 25, 2015
Strong sales across all divisions and the integration of its purchase last year of DCH Auto Group pushed Lithia Motors' net income up 50 percent during the fourth quarter.... Read More »

 

Sonic is most-improved in Q4 F&I revenue

11:22 am U.S. ET | Feb. 25, 2015
Sonic Automotive Inc. posted the biggest increase in average F&I revenue per vehicle in the fourth quarter among the six public new-car retail groups, the tallies, completed today, show. “Our experienced guys are delivering an industry leading transparent process in which they handle the appraisal, the F&I process, and the guests love it,” said Jeff Dyke, Sonic’s executive vice president of operations, during a conference call on Tuesday.... Read More »

 

Consumer Portfolio gains volume; retraining continues after FTC action

10:57 am U.S. ET | Feb. 25, 2015
Subprime auto lender Consumer Portfolio Services reported strong volume growth in the fourth quarter and for all of 2014, despite a run-in with the Federal Trade Commission last year.... Read More »

 

Lexus wins 4th straight J.D. Power dependability title; Buick rises to No. 2

10:00 am U.S. ET | Feb. 25, 2015
Toyota's Lexus claimed its fourth consecutive title as most-dependable automotive brand after three years of ownership while corporate sibling Scion jumped to ninth place from 22nd a year earlier, J.D. Power and Associates said today. Buick came in at No. 2, rising three spots from last year.... Read More »

 

Reports of growing auto loan delinquencies are overblown, credit bureaus say

10:39 am U.S. ET | Feb. 25, 2015
Despite media notions that U.S. auto loan delinquencies are accelerating, they are in fact trending flat, credit reporting bureaus Equifax and Experian Automotive said last week.
... Read More »

 

VW CEO Winterkorn sees former BMW, Daimler managers as potential successors, report says

Feb. 25, 2015 13:04 CET
Volkswagen Group CEO Martin Winterkorn sees Andreas Renschler and Herbert Diess, who are joining VW from rivals Daimler and BMW, among his potential successors, according to a German magazine.... Read More »

 

Blazing-fast McLaren 675LT to debut in Geneva

9:20 am U.S. ET | Feb. 25, 2015
British sports car manufacturer McLaren Automotive plans to introduce the 675LT at next week’s Geneva auto show. The sleek coupe can top 120 mph in a faster amount of time than many normal cars can get to 60 mph.... Read More »

 

Magna cuts sales forecast on weak Europe demand, approves stock split

7:01 am U.S. ET | Feb. 25, 2015
Canadian auto parts maker Magna International Inc. cut its revenue forecast for 2015, hurt by weak demand from Europe.... Read More »

 

Toyota says union pay demand 'impossible' because costs would jump

6:19 am U.S. ET | Feb. 25, 2015
Toyota rebuffed the largest wage increase proposal from its union since 1998, saying the raise would lift costs by about $168 million.... Read More »

 

Valeo sees further profit gain after beating 2014 goal

Feb. 25, 2015 10:33 CET
Valeo is targeting a further boost in profitability this year after exceeding its 2014 goals on strong demand for emissions-cutting technologies and intuitive driving systems. The company's operating profit margin rose to 7.2 percent last year beating a 7 percent goal.... Read More »

 

2015 GENEVA AUTO SHOW

Nissan Sway concept may preview new Micra

Feb. 24, 2015 12:58 CET
Nissan will unveil the Sway concept car at the upcoming Geneva auto show. The Sway will preview the automaker's next Micra subcompact, reports said. The automaker said the concept shows “how a future generation of small Nissans could look,” but didn't say whether it previews the new Micra.... Read More »

 

Union OKs 3% wage rise in Daimler, Porsche's heartland

Feb. 24, 2015 10:47 CET
Germany's biggest trade union, IG Metall, accepted a 3 percent wage increase for the country's southwest region, home to carmakers Daimler and Porsche. The union had called for a 5.5 percent increase. Deals agreed in the region traditionally serve as a template for agreements across Germany.... Read More »

 

Jaguar Land Rover 'is indeed looking' at N.A. plant, Tata says

11:16 pm U.S. ET | Feb. 24, 2015
Jaguar Land Rover is "indeed looking at North America as a location for another plant," said the chairman emeritus of owner Tata. His statement marks official confirmation of the British luxury maker's factory hunt.... Read More »

 

Buick cracks top 10 on Consumer Reports report card; Acura, Mercedes, Infiniti drop

12:45 pm U.S. ET | Feb. 24, 2015
Buick climbed into the Top 10 while Acura, Infiniti and Mercedes-Benz fell hard in the latest report card on reliability and performance from Consumer Reports. Lexus finished No. 1 for the third straight year, ahead of a rising Mazda. Fiat Chrysler's Fiat brand came in last, just below corporate sibling Jeep.... Read More »

 

Tata plans image lift for ultracheap Nano

6:43 pm U.S. ET | Feb. 24, 2015
Tata Motors, producer of the car conceived as the world's cheapest, is rethinking the “cheap” part of it. The Indian automaker believes its Nano, which went on sale in 2009 with a price tag of about $2,500, may have been too inexpensive for its own good.... Read More »

 

JPMorgan says U.S. examining racial disparities on car loans

11:03 pm U.S. ET | Feb. 24, 2015
JPMorgan Chase, the largest US bank, said it’s in talks with the Department of Justice about possible racial disparities in markups that auto dealers charged on loans.... Read More »

 

Group 1 director resigns citing Buffett-Van Tuyl deal

5:27 pm U.S. ET | Feb. 24, 2015
Group 1 Automotive board member Beryl Raff has resigned, citing a potential conflict of interest related to her employer, Berkshire Hathaway, and its pending purchase of the Van Tuyl dealership group. Raff gave up her seat on Feb. 20, Group 1 said in an SEC filing.... Read More »

 

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