AUBURN HLLS, Mich. — An initial public offering evidently is on the radar of top Chrysler executives. Chief executive officer Sergio Marchionne described the company as having a "strengthening base" for one, but stopped short of giving a specific date when a capital-raising event might occur. During a conference call earlier this week, Marchionne was asked about […] [Read More]

WASHINGTON, D.C. — In the latest chapter of the automaker's recall-related challenges, the National Highway Traffic Safety Administration is now investigating how Toyota handled a steering relay rod recall back in the mid-2000s. Basically, NHTSA is seeking to find out if Toyota Motor Corp. brought the matter to the attention of proper authorities within the mandatory […] [Read More]

EDEN PRAIRIE, Minn. — GE Capital Fleet Services recently broke down how it identified $65 million in cost savings for its fleet operations customers during the first quarter of this year. Four factors that reduced costs and streamlined processes came together to create the total, including: —Total-cost-of-ownership analysis ($18 million): Using cost analysis to evaluate and […] [Read More]

YONKERS, N.Y. — In some good news for the automaker, Consumer Reports has removed its "Don't Buy: Safety Risk" tag it placed on the 2010 Lexus GX 460 last month when it found the SUV had potential roll-over issues. Consumer Reports said the recall work fixed the issue. After the publication announced the "Don't Buy" label, […] [Read More]

TORRANCE, Calif. — Last week, Honda highlighted 35 years of research and development that began in southern California at Honda R&D Americas by emphasizing how much of its vehicle lineup is created in the United States. The automaker shared that seven of 21 Honda and Acura units from the 2010 model-year that are sold in the […] [Read More]

MONTVALE, N.J. — Mercedes-Benz USA opened the doors earlier this week to a more than 100,000-square-foot Vehicle Preparation Center in coastal Georgia that will process vehicles on their way to the automaker's Southern region, Texas and Oklahoma dealerships. Mercedes-Benz USA chief executive officer Ernst Lieb hosted a ribbon-cutting ceremony Wednesday at the VPC in Brunswick, Ga., with […] [Read More]

HERNDON, Va. — Audi recognized its U.S. dealers that had the best performances last year on Thursday as it unveiled its 2009 Magna Society honors. Fifty-eight of Audi's 270 U.S. stores received this distinction, which is given to dealers that provide "superlative customer service" and post strong overall business performances. In essence, these stores are exceptionally […] [Read More]

ALEXANDRIA, Va. — Import automakers continued to see their sales climb upward during April, as they now have shown year-over-year growth for each month of 2010, according to the American International Automobile Dealers Association. More specifically, international nameplates combined to sell 540,077 units in the U.S. during April, marking an 11.1-percent decrease from March, but an […] [Read More]

AUBURN HILLS, Mich. — In the first arbitration case involving Chrysler and one of its rejected dealers, the arbitrator ruled in favor of the automaker, Chrysler announced late last week. The arbitration — which happened April 14 in Cleveland — was between Chrysler and Joe Kidd Dodge, a dealership in the Cincinnati area that was cut in the automaker's bankruptcy […] [Read More]

BLOOMFIELD HILLS, Mich. — Penske Automotive Group executives credited their company for overcoming weather-related issues and the struggles of the smart USA brand to still post a handsome year-over-year quarterly income increase. The company detailed late last week that its 2010 first quarter income from continuing operations totaled $20.8 million, or $0.23 per share. It's a […] [Read More]