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.
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.
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.
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.
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.
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.
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.
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.
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.
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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