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Asbury, Park Place agree to revised acquisition valued at $735M

Automotive News - 10 hours 15 min ago

Asbury will now acquire eight Park Place dealerships, both companies said Monday, taking a second chance on a sale that was derailed in the first weeks of the deadly coronavirus pandemic.

Tesla's overexcited fans should cool down a little

Automotive News - Mon, 07/06/2020 - 23:40

In the second quarter, Tesla delivered 91,000 vehicles — about 5 percent fewer than the same period last year. So how is the massive recent jump in its market value justified?

Uber to buy Postmates for $2.65 billion to expand delivery

Automotive News - Mon, 07/06/2020 - 17:05

Uber sees advantages of the merger beyond meal delivery. Postmates has been a pioneer in delivery-as-a-service, complementing Uber’s efforts in shuttling groceries, essentials and other goods.

VW on track to be freed from U.S. oversight imposed after diesel scandal

Automotive News - Mon, 07/06/2020 - 15:35

The role of a former U.S. deputy attorney general appointed to monitor VW's compliance with a diesel-rigging settlement is expected to end in September.

Jaguar Land Rover said to shortlist former BMW, Audi execs for CEO post

Automotive News - Mon, 07/06/2020 - 14:56

Ex-BMW development chief Klaus Froehlich and former Audi boss Bram Schot are being considered to succeed Jaguar Land Rover CEO Ralf Speth, the Financial Times reported.

Manheim adds 12 more sites for in-lane bidding

Automotive News - Mon, 07/06/2020 - 12:00

The Cox Automotive company first began allowing bidders to return to lanes at five pilot locations the week of June 22.

Ford ventures extend sales rebound

Automotive News - Mon, 07/06/2020 - 11:40

Ford Motor Co.'s China ventures, behind rising demand for new and redesigned crossovers, reported sales growth in June as the world's biggest auto market continues to recover from coronavirus-induced lows.

Ford says it may expand off-road line beyond Bronco, Bronco Sport

Automotive News - Mon, 07/06/2020 - 10:00

The automaker on Monday confirmed for the first time the name of its small off-road utility and that it was creating an off-road subbrand, something it's been telling dealers for more than a year.

Ram's next hurdle: Holding on to quality

Automotive News - Mon, 07/06/2020 - 04:00

FCA's pickup brand jumped to third in this year's J.D. Power study, even though the Ram lineup is new and contains a lot of technology that can ding brands' scores.

Long-awaited Ariya to debut July 15

Automotive News - Mon, 07/06/2020 - 04:00

Nissan CEO Makoto Uchida says the brand's Ariya crossover EV will be packed with new technology that makes an "amazing driving experience."

The DealerPolicy Car Buyer Study

Automotive News - Mon, 06/29/2020 - 19:39

You know customers are looking for a stream-lined purchase experience, but do you know what’s still missing from the process? Find out:

1.    How customers view auto insurance as part of the car-buying process
2.    Whether customers want to see competing insurance quotes while at the dealership
3.    What customers would do if they were able to save money on their auto insurance while buying their car

Audi gives Q5 a bump in horsepower with 2021 update

Automotive News - Mon, 06/29/2020 - 19:13

The freshened 2021 Audi Q5 gets a boost in base horsepower from the addition of a 12-volt mild-hybrid system, along with interior improvements and styling changes. The 2021 Q5 is due in U.S. dealerships in the fourth quarter.

Ford pauses U.S. social media advertising for 30 days

Automotive News - Mon, 06/29/2020 - 19:07

The automaker said it would re-evaluate its presence on all social media platforms and added that hate speech, violence and racial injustice in content on social media "needs to be eradicated."

Geneva auto show canceled for 2021

Automotive News - Mon, 06/29/2020 - 18:56

The reasons were lack of interest from automakers as well as the uncertain situation over the control of the coronavirus, the Geneva International Motor Show Foundation said. A 2022 show was not confirmed.

Court backs president's right to fire CFPB director

Automotive News - Mon, 06/29/2020 - 18:29

The court in a 5-4 ruling said the current structure of the federal watchdog is "unconstitutional" without oversight from the executive branch. Previously, the CFPB director could only be removed by the president for "inefficiency, neglect of duty, or malfeasance in office."

Ex-UAW President Dennis Williams returns $55,000 in travel expenses

Automotive News - Mon, 06/29/2020 - 18:18

Williams returned the money after an internal UAW investigation found the expenditures were "not appropriate." UAW President Rory Gamble is set to meet with U.S. Attorney Matthew Schneider on Tuesday to discuss reform efforts amid a federal corruption probe.

John Mooney, the force behind catalytic converters, dies at 90

Automotive News - Mon, 06/29/2020 - 17:14

Mooney, who died June 16 at home in Wyckoff, N.J., is credited with a big breakthrough, while working at supplier Engelhard, in advancing one of the most important anti-pollution devices since the creation of the car.

U.S. appeals court stays order requiring GM, FCA CEOs to meet

Automotive News - Mon, 06/29/2020 - 16:58

The Sixth U.S. Circuit Court of Appeals said in a filing: "In order to provide sufficient time to consider the matters raised in GM’s petition, and having considered the relevant factors, we conclude that a temporary stay is appropriate."

Online used-vehicle seller Shift to go public through reverse merger

Automotive News - Mon, 06/29/2020 - 16:25

Shift will merge with a special purpose acquisition company, valuing the combined entity at $730 million on a pro forma basis.

GM Defense lands $214 million Army contract

Automotive News - Mon, 06/29/2020 - 16:04

The vehicle is based on the 2020 Chevrolet Colorado ZR2 architecture. The Army authorized the purchase of 649 units of the infantry support vehicle and can increase that to 1,070.