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SCHAUMBURG, Ill. — Experian Automotive found that the longer consumers owns their vehicles, the less likely they are to buy their next vehicle from the same brand. Average length of ownership in the first quarter of 2014 was 7.75 years, a number which correlated with a brand loyalty rate of 49.5%. In Experian’s analysis, the ... Read More »
Read More →MINNEAPOLIS — Automotive Credit Corp., a Midwest-based provider of subprime financing solutions, has joined Wolters Kluwer Financial Services’ AppOne platform. AppOne helps automate the credit approval and compliance processes for lenders and the dealerships they work with. This integration provides Automotive Credit with access to the AppOne network of independent dealers as well as Wolters ... Read More »
Read More →DETROIT – Chrysler Group LLC’s net profits rose 32 percent to $611 million in the third quarter, the Auburn Hills company announced Wednesday, reported MLive. That comes on top line growth of 18 percent to $20.7 billion for net revenues. The revenue growth was driven by higher vehicle shipments, in particular the all-new Jeep Cherokee ... Read More »
Read More →Hyundai Motor and its affiliate Kia Motors said on Thursday they aim to raise the average fuel economy of their vehicles by 25 percent by 2020 to meet emissions regulations in South Korea, the United States and Europe, reported Reuters. The announcement came after the South Korean duo on Monday agreed to pay $350 million ... Read More »
Read More →CHARLOTTE, N.C. – Rod Heasley-President of KISS Concepts Group (a North Carolina based auto dealer sales & marketing consulting agency) announces that along with a select group of the country’s leading experts, to co-write the forthcoming book titled, Race to The Finish Line…How to Open and Run an Independent Automobile Dealership. Marty Coates, recently signed ... Read More »
Read More →Succession is not an imminent topic at Daimler or Volkswagen, the chief executives of both carmakers said on Thursday, adding that any potential candidates would most likely come from within their respective companies, reported Reuters. Daimler chief Dieter Zetsche and Martin Winterkorn, who heads up Volkswagen, were both asked during a panel discussion in Munich ... Read More »
Read More →U.S. safety regulators do not expect Japanese auto parts maker Takata Corp to be able to fully supply replacement parts for millions of defective air bags until January or later, and urged Takata and the automakers it supplies to seek additional parts from other companies, reported Reuters. The National Highway Traffic Safety Administration, which has ... Read More »
Read More →DETROIT – Shortly before Gov. Rick Snyder signed a bill deemed by some as “anti-Tesla” into law last week, General Motors released a statement throwing its support behind House Bill 5606, reported MLive. “We believe that House Bill 5606 will help ensure that all automotive manufacturers follow the same rules to operate in the State ... Read More »
Read More →BANDON, Ore. — CNW Research reported this week that it expects October sales to improve substantially from a year ago despite several indices showing weakening consumer confidence. The firm, however, said the measurements don’t go hand-in-hand. CNW’s Art Spinella wrote in his firm’s monthly newsletter that national confident measurements cannot be used to determine sales ... Read More »
Read More →SANTA MONICA, Calif. — Edmunds.com has acquired mobile startup CarCode, a service that lets customers and dealers engage in one-on-one text messaging. It is the first acquisition for the online car shopping website. The technology will be used in Edmund’s dealership network and will be provided as a complimentary service for shoppers. “Car shoppers are ... Read More »
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