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Audi outsold Mercedes-Benz in January as demand in China and the United States helped Volkswagen’s flagship division post record sales and analysts said the lead over its German rival may widen, reported Reuters. Audi said on Monday sales rose 10 percent last month to 137,700 cars and sport-utility vehicles with the world’s two largest car ... Read More »
Read More →General Motors Co said it has extended the tenure of its top lawyer, whose department was criticized over how it handled the issue of the automaker’s defective ignition switch linked to more than 50 deaths, and the search for a replacement is ongoing, reported Reuters. Michael Millikin, 66, will now retire in July and be ... Read More »
Read More →BlackRock Inc. on Monday reported a 5.4% stake in Ford Motor Co., less than two weeks after the No. 2 U.S. auto maker reported a sharp drop in fourth-quarter profit, reported The WSJ. BlackRock, the world’s largest asset manager, said a year ago that it had a stake of 5.2%, which represents the total amount ... Read More »
Read More →As owners of more than 2 million BMW vehicles recently learned, hackers are now targeting automobiles, and the problem is likely to get worse, warns a new report, reported The Detroit Bureau. The study, overseen by Sen. Edward Markey, a Massachusetts Democrat, comes at a significant time, with automakers loading their vehicles with an assortment ... Read More »
Read More →The average price of gasoline in the U.S. increased during the past week, rising by more than 10 cents per gallon, according to a new survey by AAA, reported The Detroit Bureau. Gas prices had declined for a record 123 consecutive days to $2.03 per gallon before increasing last week for the first time since ... Read More »
Read More →Technology companies such as Google are unlikely to become mass car manufacturers, even if they have the potential to disrupt an industry increasingly focused on software and automated driving, the head of German carmaker Daimler said on Friday, reported Reuters. In recent years, automakers and Silicon Valley companies have grown increasingly inter-dependent because next-generation cars ... Read More »
Read More →WILKINSBURG, Penn. — The owner and operator of Penn Avenue Auto Sales Inc. has been accused of taking money from at least 40 customers and not submitting title and registration paperwork and fees to Pennsylvania Department of Transportation, the Pittsburgh Post-Gazette reports. Charges are pending against Phillip Vixman while police search for other customers who ... Read More »
Read More →FORT LAUDERDALE, Fla. — Stepping down after 15 years as president and COO, Mike Maroone said during the company’s quarterly investor call this week that he was “very optimistic” about AutoNation’s future. The dealer group realized record earnings per share from continuing operations in the fourth quarter 2014 and its strongest year in company history. ... Read More »
Read More →SALT LAKE CITY — Rep. Ken Ivory (R-Utah) has introduced legislation that would send the sales-tax revenue from car sales to the hometown of the car buyer, instead of the city where the dealership is located, The Salt Lake Tribune reports. Ivory represents West Jordan, a city that has no car dealerships. Critics of HB181 ... Read More »
Read More →SAN FRANCISCO AND FORTWORTH, Texas — Ally’s reaction to General Motors internalizing its leasing program came up at the end of GM Financial’s fourth quarter 2014 earnings call. Daniel Berce, the captive’s president and CEO, said the decision shouldn’t have surprised executives with GM’s former captive finance arm. “That’s about increasing customer loyalty,” Berce said ... Read More »
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