General Motors expects to pad its bottom line in coming years from substantial growth in its captive finance arm and its parts and accessories business, GM executives said today.
Canadian light vehicle sales, led by strong demand for Detroit 3 trucks, rose 3.7 percent to 174,337 units in September, according to a monthly sales report.
Cox President Sandy Schwartz and Dealertrack CEO Mark O'Neil will be going on the road together over the next two weeks to meet with auto retailers to explain their $4 billion combination. The acquisition closed today.
Mazda's plans to introduce a diesel car in its most important market risk falling further behind schedule after Volkswagen AG flouted U.S. rules and unleashed global regulatory scrutiny on the technology.
Martin Winterkorn, the former boss of Volkswagen who quit last week saying he wanted to give the German carmaker a "fresh start" to tackle a scandal over rigged vehicle emissions tests, remains in four key positions involved with the group.
Volkswagen of America finished a scandal-ridden month with roughly flat U.S. sales, defying forecasts that a mid-month halt to diesel vehicle sales and a black eye to its brand image would hammer its September results.
GM's U.S. sales rose 13 percent in September on strong crossover demand and a 17 percent rise in retail deliveries.
The UAW will return to the bargaining table with Fiat Chrysler after its membership rejected a proposed agreement by 65 percent, according to a statement released today by the union.
Record Jeep sales pushed Fiat Chrysler sales up 14 percent last month as every brand but Chrysler recorded a gain.
Volkswagen expects it will need at least several months to get to the bottom of the rigging of emissions tests on its diesel vehicles, which has turned into the biggest business crisis in its 78-year history.
General Motors moved to convince Wall Street that its recovery is gathering momentum with improving margins, strong brands, new markets for high-tech vehicles, and prospects for stronger profits in coming years.
BMW's development chief has echoed rival automakers Daimler and Volvo in saying that the so-called "defeat device" that VW Group used to cheat U.S.
Spanish Industry Ministry Jose Manuel Soria said the EU should consider accelerating a plan to toughen car-pollution tests after VW Group admitted rigging diesel engines to bypass emission controls.
Industry analysts are rapidly revising their assessments of prospects for diesel-engined cars in the US market in the wake of the VW diesel emissions testing scandal. The US light vehicle market had seemed ripe for growth of volume and penetration for diesel-engines, but forecast penetration of diesel in the light vehicle market in the US has been significantly downgraded by automotive analysts at just-auto's QUBE research unit.
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