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FCA US Profits Drop in 2014 on One-Time Expenses

DETROIT – FCA US, formerly Chrysler Group, reported Wednesday a drop in net income to $1.2 billion for 2014, compared to a net profit of $2.8 billion in 2013, reported MLive. That came despite a rise of 15 percent in revenue to $83.1 billion. The Auburn Hills-based subsidiary of Fiat Chrysler Automobiles NV said the ... Read More »

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RouteOne Doubled Procesed eContracts in 2014

SAN FRANCISCO — At the NADA Convention and Expo, RouteOne announced that it more than doubled the amount of econtracts processed in 2014 to 1.55 million contracts. The technology firm attributed the growth to widespread adoption by more than 4,600 dealers and increased finance source participation. “Early last year we announced a 2014 goal to ... Read More »

U.S. New Auto Sales at Highest Level Since 2006

DETROIT – Sales of new vehicles in the U.S. last year grew by 6 percent to 16,522,000 units, according to AutoData Corp., marking the highest rate since 2006, reported MLive. For the Detroit Three, sales rose for both General Motors, which sold more vehicles in the U.S. than any other automaker in 2014, and for ... Read More »

Jeep Meets Goal of 1 Million in 2014 Sales

Jeep, the SUV brand that is key to Fiat Chrysler Automobiles’ global expansion plans, narrowly met its goal of selling one million vehicles in 2014, the Jeep brand chief said on Tuesday, reported Reuters. Jeep’s worldwide sales were 1,017,019 last year, up 39 percent from 2013 and a record for the brand. Sales rose 41 ... Read More »

Loan Amounts Reach Record Highs in Q3

SCHAUMBURG, Ill. — The average dollar amount for both new and used vehicle loans reached all-time highs in the third quarter of 2014, according to Experian Automotive’s latest State of the Automotive Finance Market report. The average loan amount for a new vehicle was $27,799 in the third quarter of 2014, up $1,080 from the ... Read More »

U.S. November Auto Sales Pace Best Since 2003

The top six automakers sold more cars and trucks in November than analysts expected, with a healthy economy, generous discounts and low fuel prices luring consumers into U.S. showrooms, reported Reuters. The industry’s annualized sales rate in November was about 17.2 million vehicles, according to industry consultant Autodata Corp. That is the best pace for ... Read More »

Inaugural Compliance Summit a Hit

HOLLYWOOD, Fla. — Organizers of Compliance Summit 2014 announced that the inaugural event drew a large, engaged crowd to the Seminole Hard Rock Hotel and Casino in Hollywood, Fla., this week. David Gesualdo, show chair and publisher of Auto Dealer Monthly and F&I and Showroom, said interest in the Florida conference, which will be followed ... Read More »

Tesla’s Q3 loss grows to $74.6 million

DETROIT – Tesla Motors reported a loss of $74.6 million in the third quarter, compared with a loss of $38.5 million in the same period of 2013, reported MLive. The Palo Alto, Calif.-based electric car maker blamed the larger loss on higher R&D costs and challenges related to a production overhaul for its Model S ... Read More »

Chrysler’s Profits Up 32% to $611 Million in Q3

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 »

Small Business Hiring Roars Back in October