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Tesla Motors Inc. shares have shifted into high gear Monday, reported The WSJ. The stock is having its best day in five months, up as much as 8.8%, after the electric-car company reported Friday that first-quarter vehicle deliveries came in stronger than expected. Stock markets were closed Friday in observance of Good Friday, so shares ... Read More »
Read More →NEW YORK — Apple’s reported entry into the autonomous vehicle race will accelerate automakers’ efforts in self-driving technology and could dramatically reshape the industry, experts said this week, reported The Detroit News. Some analysts think the news that the computer giant is mobilizing hundreds to build an autonomous electric minivan by 2020 could upend the ... Read More »
Read More →NEW YORK — Billionaire investor Warren Buffett and auto group magnate Larry Van Tuyl engaged in a lively discussion with CNBC’s Becky Quick at the NADA/J.D. Power Automotive Forum on Tuesday. The pair appeared several months after Buffett’s investment company, Berkshire Hathaway Inc., acquired the family-owned Van Tuyl Group, the nation’s fourth-largest auto retailer. The ... Read More »
Read More →Nissan Motor Co Chief Executive Carlos Ghosn said on Thursday the automaker needs more capacity in North America to fuel its growth, reported Reuters. Demand for Nissan Rogue sport utility vehicles can be supplied in the short term from plants in Korea and Japan, but longer term “we obviously need more capacity in North America,” ... Read More »
Read More →General Motors Co will generate $350 million in improved profit over the three years to 2018 from its rollout of 4G LTE mobile broadband in its cars and trucks, the No. 1 U.S. automaker’s chief financial officer said on Wednesday, reported Reuters. Chuck Stevens, speaking at a Bank of America Merrill Lynch conference, called GM’s ... Read More »
Read More →Ford Motor Co’s Americas chief indicated on Wednesday that the No. 2 U.S. automaker will be looking to bring its labor costs in line with those of its smaller rival Fiat Chrysler Automobiles when it opens talks this summer with the union representing its hourly workers, reported Reuters. Joe Hinrichs, speaking at a Bank of ... Read More »
Read More →U.S. consumer demand for new vehicles began to thaw in March, especially for luxury cars and big trucks, but not every carmaker participated in the uptick, reported Reuters. New-vehicle sales rose 0.6 percent from a year ago, to 1,545,802 vehicles, industry consultant Autodata Corp said. Automakers had one fewer day and one fewer weekend in ... Read More »
Read More →Shares of Tesla Motors Inc. jumped and trading volume surged in the final minutes of trading on Wednesday after the electric car maker issued a press release proclaiming the launch of a new product that turned out to be an April Fool’s Day prank, reported Reuters. With about five minutes remaining in the trading day, ... Read More »
Read More →NEW YORK — Dealer profitability, on average, could reach levels of today’s top quartile performing dealers if both carmakers and dealers make the necessary investments to achieve operation excellence and streamline marketing expenses, according to a new study released this week at the 2015 National Automobile Dealers Association/J.D. Power Automotive Forum Conducted by McKinsey & ... Read More »
Read More →RALEIGH, N.C. — A used-car dealer was arrested Wednesday after he allegedly traded repairs on a Dodge Magnum for a sexual act. It was the third time in two months that he is facing charges related to his interactions with customers, The News & Observer reports. Thomas Jefferson Lynn, 63, is also facing charges stemming ... Read More »
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