General Motors announced on Wednesday six more safety recalls on 717,950 U.S. vehicles.» Read More
*Profit $1.18/ shr vs est $1.09/ shr. The company, which gets most of its revenue from the sale of luxury and mid-line cars made by BMW, Mercedes-Benz and Honda, said it sold 13 percent more luxury cars at stores opened for at least a year.
July 22- U.S. auto dealer Asbury Automotive Group Inc posted a 33 percent jump in quarterly profit, driven by strong demand for luxury vehicles. The company's net income rose to $35.9 million, or $1.18 per share, in the second quarter ended June 30, from $27 million, or 87 cents per share, a year earlier. Revenue increased 12 percent to $1.50 billion.
The Insurance Institute for Highway Safety issued its first list of used vehicles that it most recommends for young motorists.
Before Nissan's first self-driving cars go on sale in 2020, it will launch new technologies that supplement the driver behind the wheel.
The insurance bill for the typical married couple will jump an average 79 percent when a teen driver is added, according to a report.
DETROIT, July 17- Shares of AutoNation Inc, the largest U.S. auto dealer group, fell as much as 8 percent on Thursday after its earnings missed analysts' expectations. Analyst Joseph Amaturo of the Buckingham Research Group said he was "unimpressed" with AutoNation's results and that the company was not expanding its share of the U.S. new-vehicle market.
Utility vehicles accounted for 36.5 percent of the overall American market during the first five months of 2014.
MILAN, July 17- New car sales in Europe rose 4.3 percent in June, industry data showed on Thursday, as an economic recovery in southern Europe, new product launches and retail incentives boosted demand for mass-market brands.
For over a decade, the General Motors legal department quietly worked to contain the damage of defective ignition switches.
DETROIT— Volkswagen bumped General Motors out of second place in the global auto sales race during the first half of the year, but Toyota is expected to stay in first place. Toyota won't release first-half numbers until later this month.
New Jersey Governor Chris Christie says he gave Tesla a year to sell directly to customers, and gave the company time to work with the legislator, but it didn't, and he had to enforce the law.
General Motors' two largest markets, China and the U.S., drove the company's results.
Tesla says it will name its planned small car the Model 3, and the vehicle will compete with BMW's 3 series sedans, reports CNBC's Morgan Brennan.
CNBC's Phil LeBeau reports what's driving sales at General Motors globally, despite its recall crisis.
TOGLIATTI, Russia, July 16- To the pounding beat of house music and a triumphant trip down memory lane, the launch of Datsun's on-Do family sedan at Russia's largest automaker on Monday was hailed as a sure success.
WASHINGTON— U.S. retail sales increased slightly in June, evidence that consumers remain cautious despite steady job gains this year. Retail sales rose just 0.2 percent last month, the Commerce Department said Tuesday, held back by a sharp drop at building and garden supply stores. Sales also fell at restaurants and at auto dealers.
WASHINGTON, July 15- U.S. retail sales increased less than expected in June as receipts at automobiles dealerships surprisingly fell, but details of Tuesday's report suggested the economy was on a solid footing at the end of the second quarter.
Volkswagen will spend $900 million to build a mid-sized SUV at its U.S. plant in Tennessee.
Earlier this month the brand revealed what it is calling "the most powerful muscle car ever," coming in at a screeching 707 horsepower.
General Motors has hired Johan de Nysschen to run its struggling Cadillac division.