Daily Email Wednesday

Federal-Mogul posts Q3 loss on restructuring costs; revenue up 11%

8:38 am U.S. ET | Oct. 22, 2014
Federal-Mogul reported a third-quarter net loss Wednesday because of restructuring and relocation costs.... Read More »

 

BMW to lower mpg ratings on 4 Mini Cooper models

11:57 am U.S. ET | Oct. 22, 2014
BMW is lowering the estimated fuel economy labels on four 2014 Mini Cooper models after tests by the EPA, the agency said today. The EPA completed a fuel economy audit on the Mini Cooper and found actual mpg lower than the figures BMW submitted for certification, a statement said.... Read More »

 

Delphi explores sale of thermal unit for as much as $1 billion, report says

1:25 pm U.S. ET | Oct. 22, 2014
Delphi Automotive, the former parts unit of General Motors, is exploring a sale of a business that makes heating and cooling systems for cars, and will seek as much as $1 billion for the unit, people with knowledge of the matter told Bloomberg.... Read More »

 

Toyota says potential Mexico plant still far from approval

4:05 pm U.S. ET | Oct. 22, 2014
Toyota, the last major carmaker without a high-volume assembly plant in Mexico, said the group assessing whether to build a factory there is far from getting clearance from top management.... Read More »

 

List of 7.8 million vehicles involved in the Takata airbag recalls

6:50 am U.S. ET | Oct. 22, 2014
Owners of the following vehicles are being urged to act immediately on recalls involving potentially defective airbags made by Takata, according to a corrected list distributed late Tuesday by the National Highway Traffic Safety Administration.... Read More »

 

Gentex reports 30% surge in Q3 net income

1:46 pm U.S. ET | Oct. 22, 2014
Gentex, which makes a variety of automotive mirrors, cameras and electronic components, said today that its third quarter net income surged 30 percent from a year earlier, with total revenue jumping 22 percent.... Read More »

 

CHRISTIAAN HETZNER

Why Daimler doesn't share investors' love affair with Tesla

9:14 am U.S. ET | Oct. 22, 2014
Are Tesla shares overvalued? If you ask Daimler, investors have gotten ahead of themselves with their exuberant love for Elon Musk's EV carmaker. On Tuesday, Daimler decided to cash out on its 4 percent stake for the price of $780 million.... Read More »

 

Toyota executive backs Takata’s handling of airbag crisis

6:39 am U.S. ET | Oct. 22, 2014
A top Toyota executive offered support for how airbag maker Takata is handling a safety crisis affecting millions of vehicles, days after expanding its own recalls for the second time in four months.... Read More »

 

NHTSA expands faulty airbag warning to 7.8 million vehicles

9:31 am U.S. ET | Oct. 21, 2014
Auto safety regulators, for the second time late Tuesday, expanded their warning to owners of vehicles recalled for defective Takata airbags, urging them to get the airbags replaced. But the federal website created to help consumers to verify whether their vehicle has been recalled was unavailable for most of the day, and was still down as of mid-morning Wednesday.... Read More »

 

Auto industry forming consortium to fight hackers

10:01 pm U.S. ET | Oct. 21, 2014
Automakers are forming a consortium to deter hackers who might try to breach a vehicle's security system -- an effort that has gotten the blessing of federal regulators.... Read More »

 

Daimler sees $780 million windfall from sale of Tesla stake

5:18 pm U.S. ET | Oct. 21, 2014
Daimler AG said it will book a $780 million windfall from selling its 4 percent stake in rival electric car maker Tesla Motors.... Read More »

 

Audi tests driverless car technology at 190 mph

11:44 am U.S. ET | Oct. 15, 2014
In its effort to bring autonomous-driving technology to the streets, Audi is testing unmanned vehicles at speeds as fast as 305 kilometers (190 miles) per hour. In these experiments, the car decides for itself the best way to take the corners in its race against human drivers.... Read More »

 

Honda starts audit of injury, death reports to U.S. regulator

4:15 pm U.S. ET | Oct. 15, 2014
Honda asked a third party to determine whether the automaker underreported fatality and injury claims to federal regulators in the United States who are investigating airbag failures with potentially deadly defects.... Read More »

 

THE GM RECALL

GM sued for $10 billion over losses on 27 million recalled cars

1:43 pm U.S. ET | Oct. 15, 2014
General Motors was hit with its biggest lawsuit so far over serial recalls, brought on behalf of drivers of 27 million vehicles seeking more than $10 billion in compensation for fallen car prices.... Read More »

 

Toyota recalls mount as automaker faces increasing scrutiny

3:07 am U.S. ET | Oct. 15, 2014
Toyota made its fourth global recall involving more than a million vehicles this year, as the world's largest automaker begins operating with stricter supervision over safety from regulators in the United States.... Read More »

 

Anti-Tesla bill reaches Michigan governor's desk

12:50 pm U.S. ET | Oct. 15, 2014
Legislation that would prevent Tesla Motors from directly selling its EV lineup in Michigan has cleared the state's legislative chambers and is awaiting the signature of Republican Governor Rick Snyder. The deadline to sign the bill is October 21.... Read More »

 

Lithia expects flat per-unit F&I revenue through 2015

12:01 am U.S. ET | Oct. 15, 2014
Lithia Motors expects average F&I revenue per vehicle retailed to stay flat through the rest of 2014 and 2015, at the current level of about $1,200 on a same-store basis. The retailer expects same-store average F&I revenue per unit of $1,202 in the third quarter.... Read More »

 

RICHARD JOHNSON

The joy of being a Jeep dealer in 2014

3:35 pm U.S. ET | Oct. 15, 2014
Holy Toledo, what's it like to be a Jeep dealer in 2014? Andy Shaver, president of the Shaver Group, just smiles when I ask. A smile that says: "Awesome and then some."... Read More »

 

2014 L.A. AUTO SHOW

Audi concept to usher in new styling era

2:08 pm U.S. ET | Oct. 15, 2014
Audi will introduce a new design direction with a concept car debuting next month at the Los Angeles Auto Show. The concept will be the first Audi vehicle styled under Marc Lichte, who took over as head of Audi design in February after leading exterior design at Volkswagen.... Read More »

 

GM's Q3 global vehicle sales up 2% on strong China, U.S. demand

10:43 am U.S. ET | Oct. 15, 2014
General Motors' global sales rose 2 percent in the third quarter, driven by strong demand in the two largest auto markets in the world, China and the United States.... Read More »

 

GM sides with U.S. wireless carriers in net neutrality fight

1:32 pm U.S. ET | Oct. 15, 2014
GM has emerged as a heavyweight ally of the wireless carriers battling against stricter Internet traffic rules, with a new letter that linked the issue to wirelessly connected cars.... Read More »

 

TrueCar offers upfront pricing on document fees, dealer-added accessories

11:46 am U.S. ET | Oct. 15, 2014
TrueCar, bidding to increase transparency of vehicle transaction costs, said its 9,000 dealer franchisees agreed to reveal all vehicle accessory and nongovernmental document fees when guaranteeing prices to TrueCar shoppers... Read More »

 

Jay Leno signs deal to host new car series for CNBC

11:25 am U.S. ET | Oct. 15, 2014
Comedian Jay Leno, who was the host of NBC's "Tonight Show" for more than 20 years, will return to television next year to host a new series about cars, the cable network CNBC said today.... Read More »

 

Hitachi Automotive readies new autonomous driving technology

10:57 am U.S. ET | Oct. 15, 2014
Hitachi Automotive Systems is readying a suite of new autonomous driving technologies, including a no-hands self-parking function it plans to market in 2016. The systems, unveiled last week at the supplier’s proving ground in northern Japan, entail precrash braking, advanced adaptive cruise control and vehicle stability control for electric vehicles.... Read More »

 

Audi wants $2.5 billion in annual cost cuts to offset tech spending, reports say

9:01 am U.S. ET | Oct. 8, 2014
Audi wants to rein in costs by about $2.5 billion a year to offset surging spending on new technology, according to people familiar with the matter.... Read More »

 

Special Report
How #1 store scores with employees

How #1 store scores with employees

Texas dealer Greg May encourages staffers to provide input and solve problems on their own. Mon., October 20
» Watch the Video
     
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