Company Information

Fiat Chrysler rises in New York as challenger to Detroit Two

Oct. 13, 2014 12:51 CET
Fiat Chrysler Automobiles NV's debut on the New York Stock Exchange gives more investors in the United States the chance to tap into the growing global market for cars and trucks, while also taking a chance on a debt-burdened automaker....
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Lithia predicts Q3 net income gain despite lower used-car profits

2:19 pm U.S. ET | Oct. 13, 2014
Lithia Motors expects to report a gain in third-quarter unadjusted net income, boosted by improved new-vehicle sales, service and parts business and F&I revenue, it said in a statement today. But Lithia said its third-quarter operating income was mitigated in part due to narrowing used-car profit margins because of a dip in used-car values....
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How dealers can block automakers' right of first refusal

3:32 pm U.S. ET | Oct. 13, 2014
With automakers increasing their use of right of first refusal in buy-sell deals, some dealers want to structure transactions to effectively block its use. But they must be watchful about how they do it, dealership buy-sell advisers and dealer lawyers say....
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Exit strategy on Buffett deal? Not so fast, says Larry Van Tuyl

2:24 pm U.S. ET | Oct. 13, 2014
Selling to a highly respected outside investor such as Warren Buffett may have been the ideal exit strategy for Van Tuyl Group -- and one of the few exit paths available to such a large automotive retailer these days, said some dealership buy-sell advisers. But Larry Van Tuyl doesn’t see it that way....
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THE GM RECALL

Deaths linked to GM ignition-switch defect rise to 27

2:04 pm U.S. ET | Oct. 13, 2014
A program to compensate victims of a faulty ignition switch in General Motors vehicles has approved three new death claims, bringing the total number of deaths linked so far to the switch to 27, according to a report released today by the lawyer overseeing the program....
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AUTOMOTIVE NEWS EUROPE E-MAGAZINE

How the XE will help Jaguar forget the failed X-Type

Oct. 13, 2014 06:15 CET
Jaguar says it has learned from the mistakes of the Ford Mondeo-based X-Type as it launches the XE, a model that aims to win sales from the BMW 3 series and Audi A4 in the fiercely competitive premium midsize market....
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Bentley eyes record sales on Continental GT demand

Oct. 13, 2014 11:15 CET
Bentley expects another record year for vehicle sales in 2014 as demand for its Continental GT models helps to spur global growth....
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EDITORIAL

An mpg report card

12:01 am U.S. ET | Oct. 13, 2014
The pace of U.S. light-vehicle fuel economy gains slowed last year, the EPA said in an annual report. But even though the 0.5 mpg improvement in the 2013 model year was less than half the 2012 savings, the report contained encouraging signs....
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Fiat Chrysler crowns merger with Wall Street debut

1:00 pm U.S. ET | Oct. 12, 2014
Fiat Chrysler Automobiles makes its Wall Street debut to great fanfare on Monday, shifting the carmaker's center of gravity away from Italy and capping a decade of canny dealmaking and tough restructuring by CEO Sergio Marchionne....
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In GM bankruptcy, an ex-con and hedge funds find common ground

3:00 pm U.S. ET | Oct. 12, 2014
Roger Dean Gillispie, a former General Motors security guard, spent 20 years in an Ohio prison for rape until a federal court ordered him released in 2011. Now he wants to sue GM for allegedly helping to frame him, and he's getting support from an unlikely source: hedge funds....
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VW deepens research cooperation with China's FAW

Oct. 10, 2014 11:23 CET
Volkswagen has extended a joint venture with China's FAW Group by 25 years to enhance research and development activities as it targets an increasing share of the world's biggest car market....
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Nissan recruits Hyundai Europe COO as global sales chief

Oct. 10, 2014 12:27 CET
Nissan has tapped Hyundai Europe's chief operating officer, Allan Rushforth, to be its new global sales chief. Nissan said Rushforth had demonstrated his ability to lead multicultural teams. He will work out of Nissan's global headquarters in Japan....
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Five technologies auto suppliers can bank on, analyst says

3:58 pm U.S. ET | Oct. 10, 2014
The next six years will be boom times for suppliers with the right technology. LED front lights, telematics, cameras, radar and lithium ion batteries are five technologies that will enjoy the biggest growth in global sales through 2020, predicted Itay Michaeli, Citigroup Inc.'s automotive research director....
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Mercedes recalls 10,500 C-class cars in U.S. for steering issue

6:52 am U.S. ET | Oct. 10, 2014
Mercedes-Benz is recalling more than 10,500 C-class sedans in the United States from the 2015 model year because a production error causes steering wheels to squeak and resist turning....
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NADA economist doubts sales over 17 million will last

1:09 pm U.S. ET | Oct. 10, 2014
New light-vehicle sales will top 16 million units annually in the United States at least until 2018 but won't reach the heights some forecasters -- and automakers -- are anticipating, predicted Steven Szakaly, chief economist of the National Automobile Dealers Association....
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HANS GREIMEL

Crash recorder video craze hits Japan

11:45 am U.S. ET | Oct. 10, 2014
Count Japan as the latest entrant to the dash cam craze. Across the country, drivers are uploading and swapping video footage taken through their vehicle crash data recorders....
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Agnelli family tightens grip on Fiat Chrysler ahead of Wall Street debut

Oct. 10, 2014 11:13 CET
The Agnelli family has tightened its grip on Fiat by securing higher voting rights after the carmaker's merger into Fiat Chrysler Automobiles. The move by the Agnellis' holding company, Exor, could make Fiat Chrysler less of a takeover target....
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Nissan recalls 238,000 2013 Altima sedans on hood latch issue

9:59 am U.S. ET | Oct. 10, 2014
Nissan is recalling about 238,000 Altima sedans from the 2013 model year because a secondary hood latch may not hold, increasing the risk of a crash, federal safety regulators and the company said today....
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PSA launches DS6 compact crossover in China

Oct. 10, 2014 06:01 CET
PSA/Peugeot-Citroen launched sales of its China-built DS crossover, the DS6, late last month. The crossover is the second model built exclusively for the China market after the DS5 LS....
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AUTOMOTIVE NEWS EUROPE E-MAGAZINE

Renault's radical new Twingo could become segment leader

Oct. 10, 2014 06:01 CET
Renault's new Twingo is radically different than the two previous generations of the minicar with a rear-mounted engine, rear-wheel drive and five doors. These features could help it pass the Fiat 500 to lead Europe's hotly contested minicar segment....
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Marchionne rebuilds Fiat-Chrysler at 200 mph to woo Wall Street

4:30 am U.S. ET | Oct. 9, 2014
As CEO Sergio Marchionne prepares to help ring the closing bell at the New York Stock Exchange on Monday to mark the debut of Fiat Chrysler shares, he is racing to create a lineup of cars that will lure buyers into showrooms worldwide. The transatlantic marriage of two struggling regional automakers will be the capstone of his career. So how quickly Marchionne gets the new company on its feet during these last laps may well determine his legacy....
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Fiat Chrysler could sell $830 million in shares after U.S. listing, report says

7:33 am U.S. ET | Oct. 9, 2014
Fiat Chrysler Automobiles could sell up to $830 million worth of shares to boost its finances and increase trading in the stock after it begins trading on Wall Street next week, Reuters reported. CEO Sergio Marchionne has said he could "get the machine rolling" by selling to U.S. investors the shares Fiat owns in itself, or so-called treasury stock....
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Marchionne foresees merger creating a new No. 1 automaker

7:07 am U.S. ET | Oct. 8, 2014
Fiat Chrysler Automobiles CEO Sergio Marchionne sees potential to form a new No. 1 automaker as companies grapple with low returns on the growing amount of money needed to develop a new car....
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BMW hires Ferrari's chief engineer

Oct. 8, 2014 10:21 CET
BMW has hired Ferrari's former technical director, Roberto Fedeli, for an as-yet unspecified role. Fedeli joined Ferrari in 1988 and has been responsible for the engineering of all Ferrari cars since 2007....
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Audi seeks to reduce annual costs by 2 billion euros, report says

Oct. 8, 2014 14:45 CET
Audi wants to reduce annual costs by about 2 billion euros ($2.5 billion) to safeguard profit margins, sources said. The automaker will seek to limit expenditure growth in areas such as development, purchasing and manufacturing, the sources said....
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