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Audi was the world’s biggest seller of luxury cars in April, edging out BMW AG’s namesake brand and fast-growing Mercedes-Benz, reported Bloomberg. Bolstered by U.S. demand for the Audi Q5 and Q7 sport utility vehicles, the Volkswagen AG unit’s deliveries rose 2.5 percent to 152,850 cars last month, compared with BMW’s 5.6 percent increase to ... Read More »
Read More →NEW YORK — AmTrust Financial Services Inc. announced today that it has entered into a definitive agreement to acquire F&I product provider Warranty Solutions from Wells Fargo for $152 million in cash. Pending regulatory approval, the deal is expected to close in the third quarter 2015. Warranty Solutions was part of Wachovia Dealers Services when ... Read More »
Read More →DETROIT, MI – Ford Motor Co. said Tuesday it is recalling 12,300 F-150 pickup trucks from the 2015 model year for a potential steering issue, reported MLive. The Dearborn automaker said the safety recall involves “an upper I-shaft that might have been riveted improperly, potentially causing it to separate.” If that happens, it could result ... Read More »
Read More →Advisory firm ISS has recommended that BMW shareholders should vote against the appointment of outgoing chief executive Norbert Reithofer as chairman of the carmaker’s supervisory board, newspaper Frankfurter Allgemeine Sonntagszeitung reported, reported Reuters. ISS said BMW would go against general corporate governance practice with the appointment as there will be no cooling off period between ... Read More »
Read More →Toyota Motor Corp and Mazda Motor Corp are in talks to expand their technology partnership to fuel-cell vehicles (FCVs), sources said on Saturday, as global automakers face rising costs to comply with stricter emission regulations, reported Reuters. The two Japanese automakers already have a technology and production tie-up, and Toyota was now considering providing fuel-cell ... Read More »
Read More →Fiat Chrysler Automobiles has asked for a new trial following one that ended early in April with a Georgia jury awarding $150 million to the family of a 4-year-old boy killed in a fiery crash involving at 1999 Jeep Grand Cherokee, reported Reuters. Evidence and the law did not support that verdict in April, the ... Read More »
Read More →General Motors Co said it will fall short of its goal of having 500,000 GM vehicles on U.S. roads by 2017 that are powered by some form of electricity, reported Reuters. The No. 1 U.S. automaker said in its annual sustainability report that lower gasoline prices and a “surge” in model offerings from all automakers ... Read More »
Read More →Toyota Motor Corp said it will crank net profit up to a third straight record this year as cost cuts and rising U.S. sales offset weaker business elsewhere, building on bumper earnings last year powered largely by foreign-exchange gains, reported Reuters. Reporting net income jumped 50 percent in the quarter ended March, the world’s top-selling ... Read More »
Read More →Volkswagen’s Audi luxury division said on Friday sales increased 2.5 percent in April to 152,850 cars and sport-utility vehicles, the highest-ever level recorded for any month in the carmaker’s history, reported Reuters. Sales in Europe edged up 0.9 percent as gains in Italy and Spain offset a 42 percent slump in deliveries in Russia to ... Read More »
Read More →Volkswagen said it would try to find a new chairman quickly and announced a long-planned tie-up of its truck brands, seeking to return the focus to business following the carmaker’s shock ouster of former patriarch Ferdinand Piech, reported Reuters. Chief Executive Martin Winterkorn, who survived the public showdown that triggered Piech’s resignation last month, told ... Read More »
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