The AAA Foundation for Traffic Safety says that nearly 6 out of 10 moderate to severe teen crashes are the result of driver distraction.» Read More
DETROIT, Oct 28- AutoNation Inc, the largest U.S. auto retail group, has stopped selling cars equipped with Takata Corp air bags involved in a massive global recall involving more than 16 million vehicles, Chief Executive Mike Jackson said on Tuesday. While AutoNation is the largest U.S. automotive dealer group, it currently has fewer than 400 used cars equipped...
Despite lackluster sales, General Motors is not backing down from its commitment to the Chevy Volt.
DETROIT, Oct 28- U.S. auto sales will rise above 17 million vehicles next year for only the third time in history, AutoNation Inc Chief Executive Mike Jackson said on Tuesday. Earlier on Tuesday, AutoNation posted quarterly earnings that beat Wall Street expectations by 4 cents a share. Shares of the largest U.S. auto dealer group were up 5.4 percent at $54.81.
Oct 28- Satellite radio service Sirius XM Holdings Inc reported a better-than-expected 9.9 percent rise in quarterly revenue as strong U.S. auto sales drove a jump in paying subscribers, sending the company's shares up as much 3.3 percent premarket. The New York- based company said subscriber acquisition costs to install car radios fell to $35 in the quarter...
Tesla's CEO Elon Musk took to Twitter to shoot down a Wall Street Journal article, calling the sales figures quoted in the article "incorrect."
Oct 28- Satellite radio service Sirius XM Holdings Inc reported a 9.9 percent rise in quarterly revenue and net income more than doubled as strong U.S. auto sales drove a jump in paying subscribers. Net income more than doubled to $136.2 million, or 2 cents per share, for the quarter ended Sept. 30, from $62.89 million, or 1 cent per share, a year earlier.
CNBC's Phil LeBeau reports Tesla has begun offering a "happiness guarantee" in which leasing customers of the Model S can return the car within 3 months if they're not happy.
DETROIT, Oct 27- J.D. Power& Associates and LMC Automotive on Monday forecast that U.S. new vehicle sales for October would show a rise of 6 percent from a year ago to 1.27 million vehicles, which translates to an annualized selling rate of 16.3 million vehicles. This would be the highest level of new vehicle sales for October since 2004, the industry consultancies...
With gas prices down, analysts say it will be even more difficult to persuade buyers to opt for vehicles that plug in rather than tank up.
David Friedman said the agency "greatly" regrets that the information provided in its initial advisory was inaccurate.
A NHTSA spokesperson said a further increase could follow in its massive air bag recall, noting, "The agency has an open investigation going."
Michigan Governor Rick Snyder signed a bill that will keep electric carmaker Tesla Motors from selling its cars directly to consumers in the state.
DETROIT, Oct 21- Michigan Governor Rick Snyder signed a bill on Tuesday that will keep electric carmaker Tesla Motors Inc from selling its cars directly to consumers in the state, home to the biggest U.S. automakers. Michigan becomes the fifth U.S. state to keep Tesla from easily selling cars directly to consumers, joining Texas, New Jersey, Arizona and Maryland,...
General Motors is calling for Governor Rick Snyder to sign legislation that would ban the direct sale of automobiles in Michigan.
Oct 21- U.S. auto dealer Asbury Automotive Group Inc's quarterly profit jumped 43 percent as easier credit for customers helped the company sell more imported cars. Asbury sells new and used cars made by BMW, Mercedes-Benz, Lexus, Honda Motor Co, Nissan Motor Co Ltd and Toyota Motor Corp, among others. Asbury's net profit rose to $32.5 million, or $1.08 per share, in the...
Oct 21- U.S. auto dealer Asbury Automotive Group Inc reported a 43 percent jump in quarterly profit as it sold more vehicles amid easier availability of credit. Net profit rose to $32.5 million, or $1.08 per share, in the third quarter ended Sept. 30 from $22.7 million, or 73 cents per share, a year earlier. Revenue rose 8 percent to $1.51 billion.
Toyota delivered a surprise when it announced plans to give the 2015 Camry an extensive update, showing off its more sculpted and tech-savvy look.
The National Highway Traffic Safety Administration is warning owners of approximately 3.75 million vehicles about potentially faulty airbags. CNBC's Phil LeBeau has the details.
"I am not losing anything by putting on gloves and a mask. It is just an extra precaution," one man said.
J.D. Power and Associates says that sales of new cars and trucks at U.S. auto dealerships will climb to 13.83 million in 2015.