JPMorgan Chase, the largest US bank, said it's in talks with the Department of Justice about possible racial disparities in markups that auto dealers charged on loans.
Tata Motors, producer of the car conceived as the world's cheapest, is rethinking the 'cheap' part of it.
Group 1 Automotive board member Beryl Raff has resigned, citing a potential conflict of interest related to her employer, Berkshire Hathaway, and its pending purchase of the Van Tuyl dealership group. Raff gave up her seat on Feb.
The Justice Department and state authorities are looking into the securitization of auto loans for possible fraud as part of an effort to seek out emerging areas of abuse, Acting Deputy Attorney General Sally Quillian Yates said.
Cooper-Standard Holdings Inc., facing foreign currency issues and soft sales on key programs in North America, said it lost $12.8 million in the fourth quarter of 2014. That was an improvement over the $20.
Mike Heneka, who led an immense expansion effort in the US as president of Faurecia North America, will retire on March 1, the seating and emissions systems supplier said today.
Buick climbed into the Top 10 while Acura, Infiniti and Mercedes-Benz fell hard in the latest report card on reliability and performance from Consumer Reports. Lexus finished No. 1 for the third straight year, ahead of a rising Mazda.
Cooper Standard has reported revenue of US$768m for the fourth quarter of 2014, compared to US$794m in the same quarter of the previous year, with the company attributing the decline primarily to unfavourable foreign exchange of US$31.5m.
Sogefi has reported a consolidated full-year net result down 83% to EUR3.6m (US$4.1m) compared to EUR21.1m in 2013 and has decided not to distribute a dividend in order to reduce debt of EUR304.3m.
Dealertrack Technologies, which supplies a wide variety of auto dealership retail software and services, said it posted revenue gains across the board during the fourth quarter of 2014 -- including organic growth of more than 20 percent.
News
24 Feb, 2015
Latest pictures and details on the Audi Prologue Avant concept, set to appear at the Geneva Motor Show
Canada's biggest railway reached a last-minute tentative agreement with one of its unions on Monday, averting a lockout that threatened to delay imports from Asia and compound a US West Coast port logjam.
Ford says it has now trained more than 8,000 skilled trades and production workers at its Dearborn Truck Plant and Kansas City assembly site to support production of the Ford F-150.
New vehicle sales in Malaysia increased slightly to 50,602 units in January, from 50,273 units sold in the same month last year, according to the Malaysian Automotive Association (MAA).
Features
24 Feb, 2015
We look into why car manufacturers put so much effort into producing concept sketches
News
25 Feb, 2015
Famous for the Interceptor muscle car, Jensen is back - and the GT will be its first new model in 2016
Sonic Automotive, the nation's fourth largest dealership group, reported increases in revenue for both the fourth quarter and full-year 2014.
Sonic Automotive said today its new One Sonic-One Experience program to speed up transactions is making progress toward hitting its goal of cutting closing times to 45 minutes on average.
Ricardo has unveiled its new electric vehicle motor in prototype form as part of a collaborative research and development project RapidSR - Rapid Design and Development of a Switched Reluctance Traction Motor.
News
25 Feb, 2015
The Aston Martin Vulcan is a mad track-only supercar based on the One-77 with a £1.5m price tag. We meet the man behind it
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