The fuel cost savings of a diesel vehicle can be huge for those who eat up highway miles. However, with Volkswagen’s voluntary stop sale of those vehicles implicated in the diesel emissions scandal, you may think you can’t buy one from a Volkswagen dealer.
You’d be wrong.
According to a source who spoke to TTAC under the condition of anonymity, Volkswagen dealers are still able to sell an affected diesel vehicle should it meet certain conditions: that it not be a “certified pre-owned” (CPO) or new vehicle, and that the buyer signs a disclaimer stating they understand the vehicle being purchased pollutes more than government compliance tests initially indicated.
Ford announced Thursday that it had earned a record pre-tax profit of $10.8 billion for 2015 — including $2 billion in the fourth quarter — bolstered by pickup sales in the U.S. and strong growth in China.
The record-setting year for the automaker wasn’t much of a surprise — second- and third-quarter results set records along the way — but Ford’s ability to finally turn a profit in Europe may be the most unexpected news. The automaker had lost money in Europe since 2011.
Latin America, notably Brazil, will continue to be a sore spot for Ford and other automakers. Ford said Thursday it expects to lose more money there in 2016 than the $832 million it lost there in 2015.
The big Blue Oval is setting in the Land of the Rising Sun.
That, Volkswagen’s labor boss doesn’t like what he hears, Detroit’s big show and Kia’s big plans for the Rio … after the break! (Read More…)
Volkswagen’s chief in China says they’re probably not retaking the crown from General Motors there anytime soon.
That, Apple’s lead car guy is gone, Takata’s in trouble and more … after the break!
Dealers are shaving thousands off of Volkswagen’s Golf GTI — up to $5,000 at some dealers — and the hatchback is relatively easy to find at rental car counters across the country.
So, is everything going OK with 2015’s North American Car of the Year™?
Investors say Volkswagen should have told the world they were cheating earlier because then they could have bought more Apple stock.
That, Mercedes-Benz prices new E-Class in Europe, BMW’s bigger i3 battery and Jeep soars in Europe … after the break!
Fiat Chrysler Automobiles on Thursday released a statement strongly denying claims made by a Illinois dealer that the automaker was strong-arming its dealers into reporting bogus sales and illegally paying complicit dealers to continue its long-running sales growth.
This lawsuit is nothing more than the product of two disgruntled dealers who have failed to perform their obligations under the dealer agreements they signed with FCA US. They have consistently failed to perform since at least 2012, and have also used the threats of litigation over the last several months in a wrongful attempt to compel FCA US to reserve special treatment for them, including the allocation of additional open points in the US FCA network.
So, you’re saying it’s going to get ugly?
Investors aren’t necessarily drinking automakers’ Kool-Aid that 2016 will be full of beer and Skittles.
That, the China-made Cadillac CT6 that’ll eventually get here, El Chapo’s cheapo getaway car and General Motors’ questions get down and dirty … after the break!
An Illinois dealer said in a lawsuit filed Tuesday that Fiat Chrysler Automobiles, through its regional sales offices, was intimidating and bribing dealers to report bogus sales at the end of the month to reach inflated sales targets. Automotive News reported first on the lawsuit.
The lawsuit filed by dealers of the Napleton Automotive Group accuses FCA of conspiring to inflate sales numbers through payments of tens of thousands of dollars to the dealer in co-op advertising accounts to disguise the practice. The lawsuit says FCA uses bogus third-party data from J.D. Power and Urban Science to falsely “verify” the sales figures and report publicly that the automaker has continued monthly sales growth since it emerged from bankruptcy in 2009.
The news of the lawsuit and its allegations sunk shares of Fiat so far that trading on its stock was halted in Europe, according to the Wall Street Journal. (Read More…)
The CEO of the largest car dealer in the U.S. told Reuters on Wednesday that automakers shouldn’t base incentives on volume, which could jeopardize cutting profits.
“We really have to watch the quality of volume,” AutoNation CEO Mike Jackson told Reuters. “We have to find the right balance between price and volume.”
Jackson said he doesn’t anticipate auto sales to waver far from 2015’s record year, but he does foresee “entering a new chapter” with weaker demand for cars. (Read More…)