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After three consecutive declines, automakers managed in November to make the largest year-over-year sales gain since February, posting a 3.6 percent gain. However, it took a big jump in incentives to make that happen. Those heavy incentives – now amounting to more than 12 percent of the industry's average transaction price – might be enough for 2016 to topple last year's record by a razor-thin margin. Going into December, U.S. sales were just 6,418 vehicles ahead of last year's pace, an increase of 0.04 percent. November and December have become big months fo...
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...
For those who are looking for a good car deal this Black Friday, you need to know that there are also other days which will make you pay the same money on the car you want, so you can skip the crowds and stay in bed. The unofficial consumer holiday is often touted as the best day to get some major discounts, but new data shows Black Friday is only the fifth-best day to get a heavily discounted car. December 31 is the best day to get a new car. You can expect 8.8 percent off of the normal sales price. Dealers slash car prices to get units off the floor and out the door, boostin...
More than 71,700 models of Kia Sportage crossovers from U.S. were recalled by Kia Motors America. The affected crossovers are from the 2008 and 2009 model years and were assembled between Aug. 9, 2007, and May 13, 2009. The cover on the Sportage’s braking control unit might not be sealed properly, Kia said in documents filed with the National Highway Traffic Safety Administration. Should the water be mixed with road salt, as could be the case with melted snow, a wire harness connector could corrode, potentially leading to a short circuit and fire, Kia said. The automaker &ldqu...
At the Los Angeles Auto Show, CEO Brian Krzanich said Intel Capital intended to invest more than $250 million over the next two years to develop technology for autonomous vehicles. During his keynote speech, Krzanich said the company would use its expertise to handle vision processing, 5G connectivity, cloud computing, machine learning and security. Intel, which traditionally has not been a major automotive supplier, has been expanding its presence in recent years. Over the past 12 months, the company says it has booked contracts with a variety of automakers worth $1 billion. Custom...
