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Company mergers in the modern automotive industry has become a common practice. More and more specialists declare that the auto industry should consolidate further to cope with rising development costs. As thus, Fiat Chrysler Automobiles Chairman John Elkann renewed a push to merge the company with one of the auto industry’s “big guys”, saying savings could top $10 billion a year.Even with developments like car sharing and self-driving vehicles, Fiat Chrysler’s major competitors should consider the potential benefits of a merger because the bulk of their ...
Volkswagen Group top executives, starting with Chairman Hans Dieter Poetsch, will have their 2015 bonus payments significantly cut as the automaker has a difficult period and counts the multi-billion-euro costs of its emissions-rigging scandal. VW said the supervisory board and management agree that the company needs to send a signal on top management pay. Variable pay will have to be reduced and in this sense the management board, for example, has already accepted cuts of at least 30 percent in bonus payments. VW's supervisory board will decide on the bo...
One of the country’s largest private dealership groups may have been created after Holman Automotive Group Inc. acquired Kuni Automotive. This new group will have 33 dealerships in eight states and will have a projected annual revenue of about $3 billion.Holman, of Maple Shade, N.J., has dealerships in its home state, Pennsylvania and Florida. Kuni, of Vancouver, Wash., has stores in its home state, Oregon, California, Colorado and Kansas. Most of the new dealerships will be situated along the East Coast and West Coast. Holman is one of the most notable...
All the main automotive dealerships agree on the fact that there is a serious shortage of automotive technicians able to work on today's advanced cars and trucks. In this situation analysts and experts say that simply recruiting more technicians won't help. The emerging gap between the lost and the recruited technicians is considerable. Ford and GM estimate a need for a total of 15,000 new technicians for their U.S. dealerships over the next five years. The North American shortfall is estimated by Mark Davis, automotive programs manager at Seminole State C...
The advent of Uber and Lyft marked a shift towards on-demand and shared mobility, and promises to require changes of the game for commuters and carmakers. More and more people realize that vehicles have high up-front costs to own and depreciate swiftly, but they aren't necessarily heavily utilized.The possible on-demand revolution will for sure affect automakers. The analysts acknowledge that the proliferation of on-demand vehicles could ultimately reduce the number of cars on the road in the U.S. by more than 25 million, with population density serving as a key determinant ...
