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Ford Motor Company’s multi-model door latch recall, which started out relatively small earlier this year, is growing in leaps and bounds.
The automaker announced today that it has recalled another 1.5 million vehicles to prevent doors from flying open, nearly tripling the previous tally of 828,053, the Associated Press reports. Read More >
A dealer association in California is the latest group to go after Cadillac, demanding the automaker make changes to its controversial “Project Pinnacle” sales incentive program.
The California New Car Dealers Association, acting at the request of 52 dealers in that state, has sent a letter to General Motors CEO Mary Barra in a bid to delay (and alter) the project, Automotive News reports. Read More >
It didn’t take long for sources to squeal about the size of the settlement forged yesterday between Volkswagen and its ornery U.S. dealer network.
According to people familiar with the deal, 652 VW dealers will share about $1.2 billion to offset losses from unsold vehicles and sunk costs, Bloomberg reports. But cash is only one part of the company’s plan. The other involves its customers’ wallets. Read More >
It’s the latest in a string of similar nighttime thefts, but it’s not surprising — after all, when four hours’ work can net you hundreds of thousands of bucks, who expects thieves to stop?
This past weekend, the inventory of a General Motors dealer lot in Tyler, Texas was left up on blocks after thieves stripped 48 vehicles of their wheels, Automotive News reports. Read More >
America’s Volkswagen dealers took the brunt of the automaker’s diesel emissions scandal, but a cash payout designed to ease their troubles is on the way.
Lawyers for the dealers, who were once poised to revolt against their employer, announced a tentative settlement deal with the automaker today, Reuters reports. Read More >
One- to three-year-old-vehicles are pouring back onto dealer lots, but the predicted drop in used vehicle prices hasn’t happened yet.
Consumer choices (meaning: trucks, trucks, trucks) and the high value of returning vehicles are keeping used prices near record levels, but analysts still expect a drop later this year, Automotive News reports. Read More >
Updated with details on all-wheel drive being standard equipment for Alltrack.
Volkswagen of America needs a winner as it reels from the ongoing diesel emissions scandal, and its forthcoming Alltrack — a jacked-up, all-wheel-drive version of the SportWagen — is hopefully just the ticket.
As Volkswagen prepares to launch the new model on American shores, it’s all hands on deck for the German automaker as it sends representatives from its internal training department to every single dealership in the United States.
Read More >
Michigan doesn’t want its residents to order a Tesla, but it sees no problem in owning $72 million in stock to bolster its state retirement fund.
According to The Detroit News, the Michigan Department of Treasury bought a further $48 million in Tesla shares in the second quarter of this year, boosting its stake to 339,623 shares — more than triple the amount it owned in March. Meanwhile, Michigan won’t budge on laws that prevent Tesla from selling vehicles in the state. Read More >
With memories of the 2008 financial meltdown still fresh, American consumers aren’t borrowing wildly anymore — except when it comes to cars and credit card purchases.
As of the end of June, car buyers racked up the highest auto loan debt in U.S. history — $1.1 trillion, according to a quarterly report from the Federal Reserve Bank of New York. Also on the rise? Credit risk. Read More >
Opportunistic thieves are making off with high-end wheels from dealer lots more than ever, but one Ohio man’s nighttime excursion at a General Motors dealer just cost him his life.
Employees at Ron Marhofer Buick GMC opened their Canton, Ohio dealership per usual on Saturday morning, not knowing that a 43-year-old man lay dead under one of their Yukons. Read More >