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IRVINE, Calif. — The estimated average transaction price for light vehicles in the United States reached an all-time record high of $35,309 in December, according to Kelley Blue Book (KBB). This increase, the auto firm added, amounted to a 1.5% increase over the same time last year. Virtually all vehicle OEM recorded increases in average transaction prices, with ... Read More »
Read More →The U.S. government and a group of global automakers are set to unveil a voluntary agreement at the Detroit auto show on Friday aimed at improving auto industry safety and spurring culture changes, according to company and government officials. The accord could set the framework for further discussions on safety reforms and mark a new ... Read More »
Read More →DETROIT — Fiat Chrysler Automobiles said on Wednesday that profits at its American subsidiary fell 3 percent in the second quarter, primarily because of a record civil penalty against the company for violating federal safety laws, reports the New York Times. The subsidiary, which encompasses operations of the former Detroit automaker Chrysler, reported net income of ... Read More »
Read More →DETROIT — Fiat Chrysler Automobiles on Thursday reported a big gain in second-quarter profits and assured investors that its recent record-setting penalty for safety violations would not slow its earnings momentum, reports the New York Times. The Italian-American automaker said that its net income climbed 69 percent in the quarter to 333 million euros — about $363 million — ... Read More »
Read More →The Big Three U.S. automakers and the United Auto Workers union will kick off bargaining Monday for new contracts that would set how much more robust, post-recession profits the industry shares with workers, and determine union costs to win more U.S. jobs, reports Reuters. UAW leaders said they will insist on raises for 139,000 blue-collar ... Read More »
Read More →Ferrari SpA, the supercar maker being spun off by Fiat Chrysler Automobiles NV, is close to filing for an initial public offering, Fiat Chrysler Chief Executive Officer Sergio Marchionne said, reports Bloomberg. “We are days away from filing the prospectus,” he told reporters Friday after a panel discussion at the Toronto Global Forum. Debt-laden Fiat ... Read More »
Read More →DETROIT — Mary T. Barra, the chief executive of General Motors, on Tuesday firmly rejected the idea that the company could benefit from a combination with a rival automaker like Fiat Chrysler Automobiles, which tried in March to start merger talks with G.M., reports The New York Times. In remarks made before G.M.’s annual shareholders meeting ... Read More »
Read More →The U.S. auto industry will remain on track for the best sales year in a decade despite industry growth being flat to up 0.7 percent in May, Fiat Chrysler Automobiles (FCA) said on Tuesday, reports Reuters. FCA’s forecast is slightly more optimistic than those of Wall Street analysts surveyed by Reuters, who expected a 1 percent ... Read More »
Read More →Five automakers on Thursday widened recalls of cars and trucks with Takata Corp air bags and the U.S. Congress set a hearing next week on the safety issue that has been linked to six deaths, reported Reuters. Takata last week complied with demands of U.S. safety regulators and doubled the vehicles to be involved in air ... Read More »
Read More →Fiat Chrysler Automobiles NV on Monday said it has responded to detailed demands from federal auto safety regulators who want information about 20 recalls covering more than 10 million vehicles since 2013, reports The Detroit News. The National Highway Traffic Safety Administration said last month it was ordering Fiat Chrysler to attend a July 2 ... Read More »
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