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Although stores selling the Lexus, Audi, Infiniti and Acura luxury brands are seeing double-digit profit declines this year, profits at Toyota and Honda dealerships are growing. Nissan and Acura dealers experienced the biggest declines. Alan Haig, president of buy-sell advisory firm Haig Partners in Fort Lauderdale, Fla, said that this is the first time such data has been published. He claims that this visibility into earnings will give owners, buyers and sellers insight into what they should be doing. He also added that this can also spark conversation between dealers and automakers on w...
Volkswagen Group claims that Audi cars with automatic transmissions have technology capable of distorting emissions when they are tested, as its premium brand is battling allegations over a reported discovery of a new cheat software device. A German newspaper “Bild am Sonntag” said a week ago that the California Air Resources Board (CARB) had this summer discovered cheating software in an automatic transmission Audi, which is unrelated to the device that triggered last year's diesel emissions test-cheating scandal at parent VW Group. The software in CARB's discov...
Despite many buyers holding out for a coming Chevy Bolt and Tesla Model 3, US electric car sales are doing great. Based on sales estimates for Tesla models (since Tesla doesn’t break out sales by month or by country), the Model S dropped to #2 and the Model X held onto #3 in the US car market, while the Chevy Volt rose to #1. However, if you look at how close sales of these models are and take into account that Tesla delivered ~3,000 more Model S sedans in the US, it’s hard to know how the top 3 ranking actually plays out. After the top 3, though, there’s a signifi...
General Motors, as well as other automakers, report October U.S. sales, amid concerns about waning demand, a potentially maxed-out auto-loan market and incentives' impacts on profits. However, Ford Motor will not be among them, as the automaker said that it will release results later this week due to a fire at its Dearborn, Michigan, headquarters that knocked out power to data systems. General Motors, meanwhile, was expected to report October sales of 246,512 autos, down 6.3% year over year. U.S. sales for Fiat Chrysler Automobiles are seen falling 10.6% to 178,2...
Toyota Motor Corp.’s Lexus and Toyota brands held their lead atop Consumer Reports’ annual reliability rankings, while General Motors Co.’s 117-year-old Buick line became the first from the U.S. to win one of the list’s top three places. The survey, a buying bible to car shoppers that has been dominated by Japanese automakers, has more international representation this year. As other automakers catch up to Japan’s manufacturers, both Subaru and Honda tumbled from the top group of “more reliable” brands, with Honda’s Civic compact car losing its l...
