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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...
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...
Electric cars are coming, like it or not. Some companies are trying to get ahead of the curve, like BMW, which has high aspirations for electric sales volume in the coming year. Longer range, more sales. That's a very simplified version of what BMW is hoping from its plug-in vehicle line up. In fact, Bimmer is expecting to sell as many electric vehicles and plug-in hybrids in 2017 as it has for the past three years combined. BMW will sell about 60,000 plug-in vehicles this year, and is hoping to boost that annual total to 100,000 units for 2017. The key to this lofty goal is the...
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...
Even though GM introduced its new Chevrolet Cruze to the market, the inventories have swelled as more buyers choose SUVs. General Motors said last week that it's planning to cut third shifts at two U.S. car factories. The car models in question, the Cadillac ATS and CTS, and Chevrolet Cruze and Chevrolet Camaro, haven't been selling as quickly as GM would like, and inventories have risen sharply. That wasn't really a surprise. GM is far from the only automaker to see car sales slump as more and more buyers gravitate toward SUVs. But inventories of some of those mode...
