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The average interest rate for a U.S. new-vehicle loan fell below 6% for the first time all year as automakers and dealers extended model-year selldown promotions.
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July deliveries increased 1.3% in the first monthly U.S. new-vehicle sales report to include none of the Detroit 3 automakers, but the seasonally adjusted annualized rate fell below 17 million for the fourth time this year.
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Dealers and other automotive business owners once again generated more complaints than any other industry in Consumer Federation of America’s latest top 10 list.
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Cheryl Miller has been promoted from CFO to president and CEO at AutoNation, replacing Carl Liebert, an auto retail outsider who took over as chief executive for founder Mike Jackson just four months ago.
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AUL Corp. has promoted Jason Garner to senior vice president of strategic product development and Paul McCarthy to senior vice president of agency and dealer sales.
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The starting prices for the Model X SUV and Model S sedan went up nearly $5,000 overnight following the abrupt deletion of their ‘standard range’ variants from Tesla’s lineup.
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An Orange County jury found in favor of Toyota dealer Roger Hogan, who sued the factory for fraud and breach of contract amid claims the manufacturer concealed safety defect data and retaliated against him for going public with his concerns.
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Ford Motor Co. and Volkswagen AG have forged a new partnership centered on electric-vehicle and autonomous driving technology that calls for billions of dollars in investments and the introduction of a range of new vehicles.
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Volkswagen de Mexico has built its final Beetle, capping a legacy of 21.5 million units sold worldwide — including 5 million in the U.S. alone — and clearing the way for a new SUV.
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Kerrigan Advisors analysts say the stock prices for America’s seven publicly traded dealership groups are outpacing the broader U.S. equity markets and could soar higher on lower interest rates and new trucks.
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