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Toyota is heading into the summer with sales on the decline. While nearly all automakers reported sales problems this May, Toyota Motor's U.S. sales tumbled 9.6% last month.Almost all of the automaker's models posted sales declines.The automaker's namesake Toyota brand sold 192,657 vehicles, down 9.5% compared to the same period a year earlier. Sales of the luxury Lexus brand declined 10.1% to 26,682. In such a way analysts projecting declines for most major manufacturers in May, compared to the same month a year ago, were right. But Toyota suffered i...
In order to take a controlling 34% stake in Mitsubishi Motors, YOKOHAMA, Japan-Nissan Motor Co. is ready to invest 237 billion yen which is about $2.2 billion.This purchase is meant to transform Nissan into the single-largest shareholder of Mitsubishi. By May 25 the agreement between the companies will be signed and four directors to Mitsubishi Motors' board will be named by Nissan. Rumors say that even the chairman of Mitsubishi Motors might be Nissan's director. The deal must be completed within a year or it will be invalid. Looks like Nissan decided to save Mitsubis...
Despite the gas low prices, fuel economy cars are still among the most sought in America.The statistics from the Consumer Federation of America say that 4 from 5 consumers are sure that next time they go shopping for a car they'll take care of its gas mileage. Jack Gills, director of public affairs for the nonprofit organization thinks it's no surprise, since consumers have had a long history with volatile gas prices.Motorists have saved $12 billion this year, but the consumers still expect the prices to rise again soon. The average respondent to CFA's survey predicted a ...
Rumors of a dealer class action against Volkswagen have swirled for months, and we have already mentioned about this in one of our previous blogs. But now, a prominent dealer attorney, Leonard Bellavia of Mineola, N.Y., declared he is prepared to file a lawsuit against Volkswagen on behalf of U.S. dealers who supported financial damage after VW’s emissions scandal.The attorney declined to identify his clients, but he mentioned that whether the lawsuit is filed depends on whether the company can reach a settlement with dealers that compensates them fairly for the finan...
BMW of North America CEO Ludwig Willisch spoke about pressure from automakers to “punch” cars at the end of the month at a recent industry event. In a panel at the National Automobile Dealers Association Wilisch declared that at the end of 2015, there was a lot of pressure to rack up sales numbers.The 2015 sales race was tight until the end, but BMW managed to win its fourth luxury-sales crown in five years. BMW finished 2015 with luxury sales of 346,023 vehicles, followed by Lexus with 344,601 and Mercedes with 343,088. However, Lexus w...
