Sales

Ford sets high 2020 sales goal while Europe remains a drag

Sept. 30, 2014 09:54 CET
Ford targets boosting its global vehicle sales by 52 percent to 9.4 million annually by 2020 as the automaker looks to fast-growing Asian markets to offset the poor-performing regions of Europe and South America....
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Ford sets goal of 9.4M global sales by 2020, cuts profit outlook for '14

3:28 pm U.S. ET | Sept. 29, 2014
Ford aims to raise global sales 52 percent annually by 2020 by tapping fast-growing Asian markets, investing heavily in Lincoln, and expanding its global offerings of small cars and utility vehicles. But company officials today warned 2014 profits will be sharply lower than previous estimates because of higher warranty outlays and wider losses in South America....
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AutoGrade schools the auction industry

12:01 am U.S. ET | Sept. 29, 2014
Adopted by the nation's largest auction companies and endorsed by NAAA, AutoGrade is an electronic vehicle-condition reporting system that is being touted as a way to reduce human error and subjectivity when describing vehicle condition and damage....
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GM says ratings upgrade will aid lending arm, support global sales push

12:34 am U.S. ET | Sept. 26, 2014
GM plans to leverage its return to investment grade, which could lower borrowing costs, by strengthening its lending arm, CFO Chuck Stevens said. GM was forced to sell control of its former GMAC lending arm to raise money, and it now has a smaller, more strategic, finance unit that is getting stronger....
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HANS GREIMEL

Why climate change could stall growth in emerging markets

12:01 am U.S. ET | Sept. 26, 2014
Auto executives have long salivated over the huge future sales possible in emerging markets. But a new economic forecast says surging greenhouse gases, spurred partly by auto emissions, will throw cold water on that once-anticipated development boom....
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HANS GREIMEL

Why climate change could stall growth in emerging markets

6:51 am U.S. ET | Sept. 25, 2014
Auto executives have long salivated over the huge future sales possible in emerging markets as their teeming, upwardly mobile masses migrate from motorbikes to cars. So imagine the irony behind a new economic forecast that says surging greenhouse gases, spurred partly by auto emissions, will throw cold water on that once-anticipated development boom....
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SEPTEMBER U.S. AUTO SALES

Post-holiday sales volume remains strong, analysts say

3:30 pm U.S. ET | Sept. 25, 2014
September U.S. auto sales are expected to come in about 10 percent higher than a year ago, according to four analysts' estimates, with no sign of a typical post-Labor Day slowdown. With three months to go, analysts are increasingly confident that total industry sales for the year will reach at least 16.4 million. LMC Automotive and Kelley Blue Book each raised their 2014 forecast to that level today, matching TrueCar and Edmunds.com. That would represent a 5 percent gain from 2013....
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RICHARD TRUETT

Automakers battle in annual Texas truck showdown

12:45 pm U.S. ET | Sept. 25, 2014
General Motors, Ford, Chrysler and Toyota are rolling into this weekend's Texas State Fair in Dallas with guns blazing -- at each other. Around 3 million pairs of cowboy boots visit the fair each year, which makes it ground zero in the truck and SUV marketing wars....
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Tesla expands in Hong Kong to tap EV demand

10:27 am U.S. ET | Sept. 25, 2014
Tesla Motors plans to double its workforce in Hong Kong as the electric car maker expands in a market the company said could become the “Norway of Asia.”...
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Germany to offer free parking to spur EV sales

Sept. 24, 2014 13:47 CET
Germany will offer free parking and the right to use bus lanes to buyers of electric, fuel cell and some plug-in hybrid cars in a bid to have 1 million EVs on German roads by 2020, up from about 21,000 at the start of the year....
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Cadillac’s China sales expected to grow 40% this year

6:35 am U.S. ET | Sept. 24, 2014
GM expects Cadillac sales in China to increase 40 percent this year, as it prepares to reorganize its luxury brand as a separate unit based in New York....
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Lotus halts U.S. sales for 2015 model year

3:56 pm U.S. ET | Sept. 23, 2014
Boutique British sports car maker Lotus may be due for a pit stop in the U.S. The only Lotus model sold in the U.S., the Evora, is being dropped for the 2015 model year because it no longer meets U.S. federal crash standards....
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CarMax reports double-digit increases in Q2 revenue, profit

8:19 am U.S. ET | Sept. 23, 2014
CarMax Inc., the largest U.S. used-car retailer, reported a 11 percent rise in quarterly revenue as easier availability of credit boosted car sales....
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Michelin seen missing 2014 sales goal, report says

Sept. 23, 2014 11:37 CET
Michelin may miss its goal of boosting sales by 3 percent this year on weak European and emerging markets, a French daily reported, citing the company's finance chief Marc Henry....
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Cadillac names European exec Jim Bunnell as U.S. sales chief

2:31 pm U.S. ET | Sept. 22, 2014
Cadillac named Jim Bunnell as its new sales chief in the United States today as the brand looks to improve sluggish volume and implement a fresh approach under new global boss Johan de Nysschen. Bunnell, 59, who joined General Motors in 1979 and spent most of his career in sales and product planning roles at Pontiac and GMC, becomes the fourth head of Cadillac sales in a little more than two years....
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Honda, GM crack down on certified-used rule benders

12:01 am U.S. ET | Sept. 22, 2014
Honda and GM, among others, are closely monitoring dealerships' compliance with certified used-vehicle programs -- and cracking down on rule breakers....
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LINDSAY CHAPPELL

Sedan-heavy brands also pile on the incentives

12:01 am U.S. ET | Sept. 22, 2014
The guys who stepped up their incentive spending last month are brands that are counting on strong sedan strategies in an era of crossover growth....
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LETTER TO THE EDITOR

Time to step up online CPO game

12:01 am U.S. ET | Sept. 22, 2014
The pressure to maintain new-vehicle sales increases the allure of incentives, which drive lower used-vehicle prices....
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3rd parties see their role sticking around

12:01 am U.S. ET | Sept. 22, 2014
Third-party online shopping sites are likely to continue influencing auto shoppers for the foreseeable future, despite pledges by dealership groups such as AutoNation Inc. to rely less on them for prospects, two new studies say....
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LEARNING CURVE

Ford schools dealers on high-tech 2015 Mustang

12:01 am U.S. ET | Sept. 20, 2014
Ford is concentrating on the 2.3-liter engine and other high-tech features in intensive training sessions designed to educate dealership salespeople....
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2014 PARIS AUTO SHOW

Mini will show new 5-door hatchback at Paris

Sept. 19, 2014 14:52 CET
Mini will unveil its first five-door hatchback in Paris as the BMW subsidiary seeks to attract new customers and those looking for something bigger than the current three-door Mini....
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Ford to cut Fiesta output in Germany

Sept. 19, 2014 10:47 CET
Ford said it will cut production of its Fiesta subcompact at its plant in Cologne, Germany, in the fourth quarter because of slowing demand in some of the region's key markets....
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Bentley adds models in Korea on rising ultraluxury demand

Sept. 18, 2014 12:25 CET
Bentley is adding new models in South Korea as the brand sees increased competition for ultraluxury cars in the market. The automaker says its dealership in Seoul has seen a 133 percent jump in deliveries so far this year....
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IHS hikes 2014 U.S. auto sales forecast to 16.4 million

11:49 am U.S. ET | Sept. 17, 2014
U.S. auto sales, buoyed by increasing consumer confidence and cheap financing, are rising faster than expected and will reach 16.4 million this year and climb to 17.4 million in 2017, consultant IHS Automotive said today....
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Europe auto sales rose 2% in August as region's recovery slows

Sept. 17, 2014 08:43 CET
European car sales rose 2 percent in August but a heavy reliance on incentives in Spain and a fall in sales in Germany, France and Italy are signs that the region's recovery may be faltering, analysts and executives said....
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