Retail

WASHINGTON, D.C. — The National Highway Traffic Safety Administration announced a new formal investigation into Toyota vehicles on Thursday. This latest review from the NHTSA comes as complaints over the braking system on the 2010 Toyota Prius Hybrid model continue to grow in the U.S. The NHTSA said it is looking into allegations of momentary loss […] [Read More]

MEDFORD, Ore. — Sharing some preliminary results from the fourth quarter, Lithia Motors said Wednesday that it is expecting improvement in its adjusted earnings per share, but also noted that the company was downwardly impacted by product shortage and low inventory levels. Specifically, Lithia expects adjusted fourth-quarter diluted earnings per share to be between $0 and […] [Read More]

BLOOMFIELD HILLS, Mich. — In an early look at the company's fourth-quarter results, Penske Automotive Group's chairman said he is encouraged by a "strong" performance during the period that was boosted by the company's brand mix, solid results in its United Kingdom operations and cost-cutting strategies. Based on preliminary results, Penske predicts its income from continuing operations […] [Read More]

TORRANCE, Calif. — In a statement Monday, Toyota said it is now shipping parts to dealers to reinforce pedals and that dealer training is underway. To fix the eight affected models as quickly as possible, many dealers will work extended hours, with some even staying open 24 hours a day, the automaker said. Automaker officials are […] [Read More]

AUBURN HILLS, Mich. — Chrysler Group positioned new incentives to take advantage of consumer apprehension about Toyota vehicles involved in recalls and sales suspensions. Specifically, Chrysler is offering current Tundra, Tacoma and Sienna owners an additional $1,000 trade-in bonus cash with the purchase or lease of any new Chrysler, Jeep, Dodge car or Ram truck. Furthermore, […] [Read More]

AUBURN HILLS, Mich. — Despite some reports that Chrysler was considering a lawsuit to stop the arbitration process, the automaker released a statement Thursday announcing that it will comply with the legislation. "The company looks forward to expeditious completion of the process. A robust dealer network is a critical component of the group's strategy of rebuilding […] [Read More]

DEARBORN, Mich. — In what was one of the most tumultuous and unprecedented years in automotive history that saw the bankruptcy of its domestic rivals, Ford recorded positive full-year net income for the first time in four years and closed 2009 on a high note with a strongly profitable fourth quarter.  What's more, Ford executives expect to see another […] [Read More]

McLEAN, Va. — The National Automobile Dealers Association on Wednesday revealed its initial list of industry experts and trainers set to be a part of its new initiative, NADA University. The free online education and training resource for dealers known as the Learning Hub will include five respected, well-known individuals who cover a wide range of […] [Read More]

TORRANCE, Calif. — Following last week's safety recall for sticking accelerator pedals, Toyota has told its U.S. and Canadian dealer bodies to stop selling the eight vehicles that were involved for the time being, and is planning to temporarily halt production on these units in North America, as well.  On Thursday, Toyota originally announced it was recalling roughly […] [Read More]

ATLANTA — A senior vice president with the American Arbitration Association told Auto Remarketing Tuesday that about 1,550 to 1,560 Chrysler and General Motors dealers are seeking reinstatement via arbitration. The deadline for dealers to file for arbitration was Monday at midnight, and the AAA is acting as administrator for the process.   "It seems to […] [Read More]