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U.S. vehicle safety regulators’ tougher posture toward automakers is a “new phase” in the government’s relations with the industry and will likely mean higher costs, Fiat Chrysler Automobiles NV Chief Executive Sergio Marchionne said Tuesday, reports Reuters. “We’re beginning to live through a new phase of regulation in the United States,” Marchionne told reporters after ... Read More »
Read More →SCHAUMBURG, Ill. — In 2015’s first quarter, the percentage of automotive loans that fell within the subprime and deep subprime risk categories made up 19.7% of the market — the lowest share since 2012, according to Experian Automotive. The firm’s State of the Automotive Finance Market report for first quarter 2015 found that subprime loans made up 16.2% ... Read More »
Read More →ALBANY, N.Y. — Auto/Mate Dealership Systems has announced that it has received a Platinum award in the 2015 Auto Dealer Monthly Dealers’ Choice Awards. This year marks the second time that Auto/Mate has received a top ranking in the publication’s annual award program, which recognizes the industry’s best product and service providers. Winners of the Dealer’s Choice ... Read More »
Read More →CLARKSVILLE, Ind. — Manheim Louisville has rescheduled its Cruisin’ for Wishes car show and fundraiser for June 13, after the event was rained out on May 16. The Criusin’ for Wishes car show will be held from 10 a.m. to 3 p.m. at Manheim Louisville. Registration for the car show begins at 9 a.m. and ... Read More »
Read More →Shares of Fiat Chrysler Automobiles NV closed up 13 cents to $15.60 a share on Tuesday, a dime higher than Ford Motor Co. — the second time this week that shares of the Auburn Hills automaker have topped its Dearborn rival, reports The Detroit News. Ford stock was down 8 cents Tuesday, dropping 2.6 percent ... Read More »
Read More →For the fifth straight year, Toyota Motor Corp (7203.T) and Honda Motor Co (7267.T) topped a study of automakers with U.S. plants in supplier relations, helping them get the best parts at the lowest cost, reported Reuters. Toyota was the tops in supplier relations, followed closely by Honda. Ford Motor Co (F.N) was a distant third, followed by Nissan ... Read More »
Read More →DETROIT, Mich. — U.S. regulators are investigating the Nissan Versa subcompact after getting reports that a coil spring in the front suspension can fracture and cut the tires, reports The Detroit News The investigation involves approximately 130,000 Versas from the 2008 through 2010 model years. The National Highway Traffic Safety Administration says it has gotten 93 ... Read More »
Read More →Sergio Marchionne, Fiat Chrysler Automobiles NV’s chief executive officer, said he doesn’t intend to speak at the hearing the U.S. National Highway Traffic Safety Administration set for July 2, reports Bloomberg Business. “We have a person who is responsible for regulatory compliance,” he said on the sidelines of an event Tuesday evening in Detroit. “He’s ... Read More »
Read More →The U.S. unit of carmaker Fiat Chrysler Automobiles (FCA)(FCHA.MI) (FCAU.N) has redeemed senior secured notes that mature in 2019 with a total face value of $2.875 billion, a filing with U.S. market regulator SEC showed, reports Reuters. The notes, which carry a coupon of 8 percent, were redeemed at a price equal to their principal ... Read More »
Read More →LANSING, Mich. — The debate over whether motor vehicle manufacturers should be allowed to sell directly to consumers in the state has resurfaced after last year’s passage of a law that added tighter restrictions on direct-to-consumer sales. This time, the Federal Trade Commission has weighed in. Reigniting the debate over direct-to-consumer sales of motor vehicles ... Read More »
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