AN Daily E-mail -- WEDNESDAY

Penske Automotive Q2 earnings rise 29.5%

9:06 am U.S. ET | July 29, 2015

Penske Automotive Group reported second-quarter net income rose 29 percent driven largely by a higher volume of vehicle sales and a solid performance in all business segments....
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GM ignition-switch spin battle reignites with plaintiffs' lawyer

6:28 am U.S. ET | July 29, 2015

General Motors may face a renewed media campaign over what a key opponent called its “false narrative” about recalls of cars with defective ignition switches. GM lost a bid to stop lawyers from circulating information about the recalls, obtained ahead of a January trial....
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Average age of U.S. fleet hits record 11.5 years, IHS says

7:00 am U.S. ET | July 29, 2015

The average age of light vehicles on the road in the U.S. reached a new all-time high of 11.5 years at the end of 2014, while the total light vehicles in operation hit a record 257.9 million, up 2.1 percent from 2013, IHS Automotive said today....
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Tesla offers $1,000 referral incentive on Model S

4:09 pm U.S. ET | July 29, 2015

Tesla, testing the power of viral marketing to sell its EVs, will offer a word-of-mouth discount on the Model S through the end of October, with both referrer and buyer receiving $1,000....
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CDK sees 25 percent profit growth in 2016

3:37 pm U.S. ET | July 29, 2015

CDK Global CEO Steve Anenen predicted that earnings at the dealership software giant would jump in its 2016 fiscal year. On the strength of cost-cutting and better bundling of software products, CDK Global expects adjusted earnings to rise at least 25 percent in 2016 on revenue growth of 4 to 5 percent, Anenen told analysts during a year-end earnings call today....
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GM to invest $1 billion in India, plans to double market share by 2020

6:59 am U.S. ET | July 29, 2015

General Motors plans to invest $1 billion in the next few years to turn operations in India into a new global export hub aimed at boosting sales in fast-growing emerging markets, top executives said today....
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Mini issues recall for side impact protection

11:45 am U.S. ET | July 29, 2015

Mini is recalling 30,456 Cooper and Cooper S cars in the U.S. to address poor side impact protection....
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TrueCar, Sonic settle trademark lawsuit

3:00 pm U.S. ET | July 29, 2015

TrueCar and Sonic Automotive reached a settlement in TrueCar's lawsuit against the dealership group over trademark infringement. As part of the deal, Sonic agreed to transfer to TrueCar all rights to and use of its True Price, True View and all other True-related marks. Sonic also will lift a ban on using TrueCar at its dealerships....
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Nissan Q1 earnings jump 58% on strong U.S. sales, weak yen

4:36 am U.S. ET | July 29, 2015

Nissan said first-quarter operating profit soared 58 percent, lifted by strong vehicle sales in the U.S. and China as well as a weak yen which boosted the value of earnings overseas....
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Nissan backs away from dealer ad attacking Trump for denouncing Mexican immigrants

9:00 pm U.S. ET | July 28, 2015

Nissan distanced itself from a controversial ad created by a California dealership that shows store managers whacking away at a Mexican piņata resembling Republican Party presidential candidate Donald Trump....
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Jeep fuel-tank fire death verdict slashed to $40 million

4:46 pm U.S. ET | July 28, 2015

A judge in Georgia has reduced a $150 million award to $40 million for the family of a young boy killed when the 1999 Jeep Grand Cherokee in which he was riding was rear-ended and burst into flames, according to orders released on Tuesday....
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FCA recalls 144,416 Dodge Journeys to secure engine cover

3:53 pm U.S. ET | July 22, 2015

Fiat Chrysler is recalling an estimated 144,416 Dodge Journey models in the U.S. to better secure their engine covers....
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Senate bill aims to secure cars from hackers, protect consumer privacy

3:12 pm U.S. ET | July 22, 2015

A bill proposed by two U.S. senators would direct NHTSA and the Federal Trade Commission to establish rules that would secure cars against hackers and protect consumer privacy. The proposal comes as Fiat Chrysler offers a software patch to close a loophole that let two hackers take control of a moving Jeep SUV....
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Mini, Subaru, Scion improve the most in J.D. Power APEAL Study

10:00 am U.S. ET | July 22, 2015

Mini, Subaru and Scion had the biggest improvements in J.D. Power's latest study of new-vehicle appeal. Porsche was the overall leader for the 11th consecutive year....
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Google's self-driving cars, mishaps aside, are 'learning the road,' exec says

12:43 pm U.S. ET | July 22, 2015

The head of Google's self-driving car program said the company's test vehicles are very safe and noted recent accidents involving them were minor and actually the fault of other drivers, not Google technology....
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HANNAH LUTZ

BLOG: How Honda Finance’s settlement could be a win for all retailers

11:30 am U.S. ET | July 22, 2015

At face value, the consent order between Honda Finance and the CFPB over lending practices doesn’t seem like a gift to retailers industrywide, but it could be....
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Lithia prepares for next acquisition

1:41 pm U.S. ET | July 22, 2015

Lithia Motors expects its DCH Auto Group division to acquire more stores in a major coastal market in the next few months....
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AutoNation's Q2 net rises 15%; revenue up 9%

8:00 am U.S. ET | July 22, 2015

AutoNation's net income rose 15 percent in the second quarter from the year-earlier period to $115.1 million. Revenue rose 9 percent to $5.22 billion, boosted by higher sales of premium luxury, domestic and import brands, and higher results in new vehicles, used vehicles, parts and service, and finance and insurance operations....
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Lithia's Q2 net jumps 34% on DCH purchase

9:19 am U.S. ET | July 22, 2015

Lithia Motors' second-quarter profit and revenue soared, largely because of its acquisition last year of DCH Auto Group along with improving new- and used-vehicle sales volumes....
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New Aisin Seiki boss pressures supplier to compete

6:33 am U.S. ET | July 22, 2015

A former Toyota executive is telling the carmaker's second-biggest supplier to raise its game across its auto parts businesses or risk being benched....
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Chevy sticks with Kid Rock amid Confederate flag controversy

10:48 am U.S. ET | July 15, 2015

General Motors will still sponsor the Kid Rock summer tour, despite the performer's support of the Confederate flag, the company confirmed today....
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Ford confirms it will build Lincoln Continental in Michigan plant

4:15 pm U.S. ET | July 15, 2015

The Lincoln Continental, which Ford Motor is bringing back to life next year to replace the MKS sedan, will be assembled at a plant in Flat Rock, Mich. The factory, where the Mustang sports car and Fusion sedan are also assembled, will build the Continental for export to China and other markets, in addition to the U.S., Ford said today....
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Magna near deal to acquire German transmission maker Getrag, report says

2:30 pm U.S. ET | July 15, 2015

Magna International is nearing an agreement to buy Getrag, one of the largest independent makers of transmissions. A deal could be announced as soon as this week, Bloomberg reported, citing unidentified people familiar with the talks....
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Subaru recalls 32,400 Imprezas to fix potential airbag problem

10:07 am U.S. ET | July 15, 2015

Subaru of America is recalling some Impreza compact cars for an issue with the occupancy detection system that can prevent the front passenger airbag from deploying during a crash....
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Toyota taps GoPro to defend truck turf against new GM pickups

12:01 am U.S. ET | July 15, 2015

It's lights, camera and action time in America's suddenly competitive small-pickup segment. The market for small pickups was whittled down to just Toyota and Nissan a year ago. Now GM has returned with 2 trucks. To defend its share, Toyota is borrowing some cool factor from action-camera maker GoPro for the Tacoma's first redesign in a decade....
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