Dec. 12, 2014, 9:17 AM| 2 Comments
Dec. 11, 2014, 4:11 PM
- The New York Department of Financial Services has subpoenaed the auto-lending divisions of Ford (NYSE:F), Honda (NYSE:HMC), Hyundai (OTC:HYMLF), Nissan (OTCPK:NSANY), and Volkswagen (OTCQX:VLKAY), along with Santander (SAN, SC) and TD Bank over their lending practices, reports the NY Post, with an official announcement coming as soon as tomorrow.
- The move comes amid other investigations over auto-lending by the CFPB and the NYC Department of Consumer Affairs.
- Previously: FRBNY: Q3 auto loans highest in nearly a decade (Nov. 25, 2014)
Dec. 11, 2014, 8:39 AM
- Aston Martin plans to bring in funds through a debt or capital raise in order to back its growth plans, sources tell Reuters.
- The luxury automaker wants to introduce a high-end crossover SUV as part of its expansion.
- A major push by Aston Martin could threaten Jaguar Land Rover (NYSE:TTM) in some markets.
- Aston Martin is owned mainly by P-E firms Investment Dar and Investindustrial, with Daimler (OTCPK:DDAIF) and Ford (NYSE:F) each holding smaller stakes.
Dec. 9, 2014, 9:34 AM
- Lincoln (NYSE:F) president Kumar Galhotra thinks the Lincoln brand could resonate well in China due to its early branding prestige as the car of U.S. presidents and celebrities.
- The automaker, which already has set up Lincoln stores in Beijing, Shanghai, and Hangzhou - plans to sell 5 different models in the nation by 2016.
Dec. 8, 2014, 10:45 AM
- New data from Truecar.com indicates more than one million cars with a transaction price over $50K will be sold this year.
- Sales at the price point are up 30.8% through November compared to a year ago.
- Transactions for cars below the $50K level were up 4.1% for the same time period.
- Detroit automakers (GM, F, FCAU) have big plans for the Cadillac, Lincoln, and Fiat brands in the U.S. in 2015.
- Meanwhile, German automakers (OTCPK:DDAIF, OTCPK:BAMXY, OTCQX:VLKAY) are all increasing production capacity in the U.S. based on forecasts for strong high-end sales growth.
- Strong demand in the U.S. for cars priced over $50K also bodes well for Tesla Motors (NASDAQ:TSLA).
Dec. 8, 2014, 7:46 AM
- Detroit automakers (F, GM, FCAU) are likely to face an intense standoff with the UAW next summer as a new contract is negotiated amid an overall improved pace of sales in the industry.
- Labor:Though union workers have participated in the industry recovery through profit sharing arrangements, the UAW plans to ask for hourly wage increases across the board.
- Management: The Big Three will look to keep a two-tier wage system that allows them to hire workers at an entry level. The group has also learned from the painful mistakes it made in the past.
- What to watch: The UAW has a little more firepower in its back pocket with the ability to strike at Chrysler and GM with bailout restrictions gone.
Dec. 5, 2014, 10:18 AM
Dec. 4, 2014, 7:43 AM
Dec. 3, 2014, 1:10 PM
- Automobile sales in Canada rose 4% in November to 138,886 deliveries
- Sales growth has been strong enough in Canada that an annual record should be set sometime this week.
- Ford (NYSE:F) remain the top seller in the nation for the year with sales of 269K units to edge Fiat Chrysler Automobiles (NYSE:FCAU) which has 268K units sold.
Dec. 3, 2014, 8:43 AM
- Motor Trend gives the 2015 Chevrolet Colorado its Truck of the Year award in a bit of an upset after early reviews for the 2015 Ford (NYSE:F) F-150 were exceptionally strong.
- Though General Motors created a smaller truck with the 2015 Colorado version, it dazzled in testing by MT.
- Full Motor Trend review
Dec. 3, 2014, 3:38 AM
- Toyota (NYSE:TM) is cutting 2,600 workers in Australia citing high production costs and a strong Australian dollar.
- The move is part of plans to stop producing cars in the country by 2018 and will bring its total workforce in the country to 1,300.
- Ford (NYSE:F) and General Motors (NYSE:GM) are planning similar departures in the next few years, knocking down the rank of Australia among auto-making nations.
- TM +1.1% AH
Dec. 2, 2014, 3:27 PM
- New car prices rose 1.7% Y/Y and 0.5% M/M to $33,754 in the U.S. during November for the 8 eight largest automakers, according to Kelley Blue Book.
- Average car price gain/loss (Y/Y): Fiat Chrysler Automobiles (NYSE:FCAU) +3.4% to $33,833; General Motors (NYSE:GM) +3.4% to $37,749; Hyundai (OTC:HYMLF) +3.3% to 424,913; Ford (NYSE:F) +2.6% to $35,832; Toyota (NYSE:TM) flat at $30,909; Honda (NYSE:HMC) -0.3% to $27,341; Nissan (OTCPK:NSANY) -1.0% to $28,652, Volkswagen (OTCQX:VLKAY) -3.7% to $38,556.
Dec. 2, 2014, 9:52 AM
- Ford (NYSE:F) reports a 15.4% gain in sales on utility models in November, while volume for both cars and trucks dropped during the month.
- Sales growth by brand: Ford -2.6% to 178,887; Lincoln +20.6% to 8,113.
- Sales growth by model: Ford Focus -2.5% to 14,862; Ford Fusion -11.3% to 20,263; Ford Mustang +62.4% to 8,728; Ford F-Series -9.9% to 59,049; Ford Explorer +13.1% to 14,949; Lincoln Navigator +88.1% to 1,433, Lincoln MKC (new) 2,152.
Dec. 2, 2014, 9:46 AM
Nov. 28, 2014, 11:05 AM
- Automobile stocks are higher as a group after oil prices slide.
- General Motors (NYSE:GM) is up 2.3% and Toyota is 1.1% higher, while shares of Ford (NYSE:F) are just poking out a modest 0.1% gain.
- There's some concerns that Ford's big bet on aluminum loses some of its relevance if gas prices shoot lower.
- Daimler (OTCPK:DDAIF) and BMW (OTCPK:BAMXY) are both beating broad market averages with +1% gains.
- EV automaker Tesla Motors (NASDAQ:TSLA) is down 2.1% on the day.
Nov. 28, 2014, 7:35 AM
- The European Commission is expected to disclose in December more details on future emissions targets for cars sold in the European Union.
- Many experts see the EC setting a CO2 emissions target of 75 grams/km for automakers to achieve by 2030.
- A 95 grams/km target by 2021 has already been set.
- Related stocks: OTCQX:VLKAY, OTCPK:BAMXY, OTCPK:PEUGY, GM, F, TM, OTC:RNSDF.
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