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Fiat Chrysler Automobiles got an offer from a well-known Chinese automaker to buy it, but at a small premium over its market value. Of course the offer was rejected because of the price offered, but what’s more important here is that the Chinese powers started to show interest in Fiat. Meanwhile, other sources independently identified executives from other large Chinese automakers conducting their own due diligence on a potential purchase of FCA, including meeting last week with representatives of U.S. retail groups about a potential acquisition. A source said FCA executives h...
Genesis has amazing plans for this month, first of all it will announce a new retail strategy for the U.S., it will accelerate the separation of the automaker from the Hyundai marque, and of course will cut the number of dealerships to sell Genesis models. The transition, which was supposed to be several years off, likely will be messy and costly for Hyundai and the culled Genesis dealers. It comes less than two years after Hyundai announced the creation of the Genesis brand, barely a year after it officially put the G80 and G90 sedans on sale and just ahead of the launch of a critical ne...
Toyota dealers have been crying for more Tacomas and now they'll finally get some relief. The Japanese automaker has struggled to crank out enough of the segment-leading midsize pickup at its Texas and Mexico factories, even with years of overtime. Now, thanks to the partnership announced last week with Mazda, Toyota North America CEO Jim Lentz is prepared to turn on the spigot to fend off midsize pickup challengers. Toyota will build a $1.6 billion U.S. auto plant at a site to be chosen in a 50-50 partnership with Mazda that nets each of them 150,000 vehicles a year in addition...
The service department of a car dealership in Portage County, Ohio discovered nearly 500 pounds of pot worth more than $1 million stashed in the spare tire compartments of 15 Ford Fusions. Authorities found five more sedans at a rail station in Warren, Ohio, and another nine at dealerships in Ohio and Pennsylvania. Each Fusion contained about 14.5 kilograms — or 32 pounds — of marijuana that was tightly packed into half-moon shapes. The drugs are worth more than $1 million, according to Silverio Balzano, the resident agent in charge of the Drug Enforcement Administration...
FCA says it is recalling 1.33 million vehicles worldwide in two separate campaigns for potential fire risks and inadvertent airbag deployments. The automaker said it is recalling about 770,000 SUVs because of a wiring issue that may lead to inadvertent deployment of the driver-side airbag and is linked to reports of five related minor injuries, but no crashes. The company said wiring could chafe against pieces of steering-wheel trim, potentially causing a short-circuit and ultimately leading to an inadvertent airbag deployment. The recall covers 538,000 2011-2015 Dodge Journey vehi...
