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July deliveries increased 1.3% in the first monthly U.S. new-vehicle sales report to include none of the Detroit 3 automakers, but the seasonally adjusted annualized rate fell below 17 million for the fourth time this year.
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Kelley Blue Book analysts report average transaction prices for U.S. new-vehicle sales increased by 3.1% on a year-over-year basis in June but declined slightly from May.
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Famed auto executive and visionary Lee Iacocca has died, leaving a legacy of leadership, ingenuity, and a no-nonsense approach to the design, sale, and financing of American vehicles.
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Fiat Chrysler has backed out of a proposed merger with Renault, blaming ‘political conditions’ in France, whose government owns a 15% share of Renault. A week ago, the companies were poised to form the world’s third-largest automaker.
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Kelley Blue Book analysts say a parade of new models helped drive the average price for a new vehicle sold in the U.S. to $37,185 in May, a 3.7% year-over-year increase.
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The chairman of Fiat Chrysler Automobiles is pushing a proposal that would merge the Italian-American carmaker with France’s Renault, creating the world’s third-largest manufacturer.
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U.S. manufacturers and dealers are knocking on the door of the all-time record for days’ supply of new vehicles, an issue compounded by higher floorplan expenses, according to the latest figures from Automotive News.
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Fiat Chrysler has settled a lawsuit brought by seven dealers who leveled charges of antitrust violations and breach of contract in federal court, claiming the factory and competing dealerships conspired to falsify new-vehicle sales reports.
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Fiat Chrysler Automobiles has named Ram truck and Jeep head Michael Manley as its chief executive officer, after medical complications forced Sergio Marchionne to step away from the company.
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Executives representing leading auto finance sources gathered at the American Financial Services Association’s 2018 conference to discuss the present and future consequences of inflated lease returns, declining used-car values, and rising interest rates.
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