Daily Email Wednesday

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 »

 

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 »

 

Ford's Fields lunch auction draws top bid of $50,000 -- so far

3:57 pm U.S. ET | Oct. 29, 2014
The price to have lunch with Mark Fields? At least $50,000. The online auction featured on Charitybuzz, which raises money for nonprofits with celebrities and brands, opened October 15 and closes at 3 pm EDT on Thursday.... 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 »

 

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 »

 

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 »

 

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 »

 

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 »

 

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 »

 

Tesla car owners get exemption from $12,000 Shanghai plates

6:40 am U.S. ET | Oct. 29, 2014
Tesla car owners in Shanghai can register their electric vehicles for free after the city exempted them from paying $12,000 for a license plate.... Read More »

 

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 »

 

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Track, tech events draw crowds to Hoffman stores

Track, 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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