Archive | Auto Industry News

Survey: Consumers Won’t Travel Far for Warranty Services

CAMBRIDGE, Mass. - CarGurus, an online automotive community, found in its latest survey that 59 percent of respondents are willing to travel an average of 125 miles to visit a dealer while shopping for a new car. Recent auto dealership closings do not appear to ... Read More » Tags:

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Daimler Reports 16% Increase in Nov. Mercedes-Benz Sales

FRANKFURT - German carmaker Daimler AG said that global sales for its Mercedes-Benz Cars division increased 16 percent in November, to 98,400 vehicles from 84,500 in the same month last year, according to an Associated Press report. The division includes the Mercedes-Benz and the compact ... Read More » Tags: ,

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Chrysler and Fiat Could Have Separate CEOs Within Two Years

Sergio Marchionne, who runs Italian automaker Fiat and U.S. carmaker Chrysler, said he expects to divide his leadership role at the companies within two years, reported the Associated Press. Marchionne, installed by the U.S. government as CEO of Chrysler Group LLC following the automaker's emergence ... Read More » Tags: , ,

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DealerTrack Connects 800th Financing Source to Network

LAKE SUCCESS, N.Y. - DealerTrack, Inc.'s number of active financing sources connected to the DealerTrack network has reached 800. "In today's credit-challenged market, dealers clearly see the benefit of working with a diversified group of lenders, from national and regional banks to finance companies and ... Read More » Tags: ,

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Every GM Vehicle Sold Costs Taxpayers $12,200

ALEXANDRIA, Va. - According to a report by the National Taxpayers Union, American taxpayers have paid $12,200 for every General Motors vehicle sold through the beginning of 2011, and $7,600 for every Chrysler vehicle sold. “The Auto Bailout—A Taxpayer Quagmire,” a book written by Thomas ... Read More » Tags: , , ,

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Marchionne: Fiat Cannot Match Chrysler Margins

MILAN - Fiat SpA will not be able to reach an operating margin of 7 percent to 7.7 percent targeted by sister carmaker Chrysler because Europe has not cut capacity, CEO Sergio Marchionne told Automotive News. Marchionne, who leads Fiat and Chrysler, expects the two ... Read More » Tags: ,

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