DEARBORN, Mich. — Ford has officially found a buyer for Volvo. The company signed a definitive agreement with Zhejiang Geely Holding Group Co. Limited on Sunday. Basically, the Chinese manufacturer will purchase 100 percent of Volvo Car Corp. and related assets for $1.8 billion.   The payment will consist of a $200 million note and cash. The sale is expected […] [Read More]

TOKYO — Thanks to a hybrid system technology licensing agreement it entered with Toyota, Mazda plans to develop and build a hybrid vehicle that will likely go on sale in Japan by 2013. Essentially, Mazda will take the hybrid technology supplied by Toyota — which is what is used in the Toyota Prius — and blend it with its Sky engine (which […] [Read More]

AUBURN HILLS, Mich. — Apparently, Chrysler Group has already sent 36 letters of intent or sales and service agreements for reinstatement to dealers whose contracts were rejected under the bankruptcy proceedings last year. And now, the automaker is looking to reinstate 50 additional dealers and is in the process of sending out another round of letters […] [Read More]

TORRANCE, Calif. — Late Friday, Toyota Motor Sales U.S.A. announced that, working in cooperation with Attorneys General across the country, the automaker will be extending on a nationwide basis the additional services being provided to Toyota and Lexus customers in New York affected by the company's recent recalls. [Read More]

YONKERS, N.Y. — A follow-up to the Consumer Reports 2010 Car Brand Perception Survey revealed that Toyota loyalty is slipping in light of ongoing recalls and deteriorating public perception of the automaker. Officials indicated that among consumers who drive a Toyota regularly, 60 percent said they would most likely purchase a Toyota the next time they […] [Read More]

DEARBORN, Mich. — In some positive news for the automaker to start the year, Ford said it is seeing blossoming interest for its new Mustang, as the number of orders for the 2011 model of the sports car is three times higher than the amount of requests for 2010 Mustang a year ago. Specifically, the automaker said that […] [Read More]

PIKESVILLE, Md. — MileOne Automotive recently learned that two of its Baltimore-area Chrysler dealers received the highest award available from the automaker for customer service. Earning 2009 Five Star Certification from Chrysler were Heritage Chrysler Dodge Jeep Parkville and Heritage Chrysler Dodge Jeep Owings Mills. Company executives highlighted the benchmarks a dealership must attain to earn […] [Read More]

SANTA MONICA, Calif. — Edmunds.com analysts expect sales efforts in conjunction with Presidents' Day should push new-vehicle sales figures for February to a much stronger level than those recorded during the same month last year. But the site's apprehension stems from questioning the importance that one particular weekend could have on the entire month's sales performance. [Read More]

WASHINGTON, D.C. — The American International Automobile Dealers Association has organized the chance to mingle with lawmakers from Capitol Hill as part of its upcoming International Auto Industry Summit. The two-day event will be conducted on May 19 and 20 at the St. Regis Hotel in Washington, D.C. AIADA highlighted that along with the chance to […] [Read More]

SANTA MONICA, Calif. — Toyota's generous incentives appear to be giving the automaker a significant sales performance boost, according to Edmunds.com. Site analysts believe Toyota's March sales figures should climb a whopping 82 percent as compared to February. The automaker's incentives include zero-percent APR financing for up to 60 months for qualified buyers on 2010 Avalon, […] [Read More]