China Approves Geely’s Purchas of Ford’s Volvo Car Division for $1.8 billion

On Thursday, a spokesman for China’s Ministry of Commerce said that Zhejiang Geely Holding Group Company’s bid to acquire Ford Motor Company’s Volvo unit was recently approved by that body.

Posted in In the News

Obama Says Taxpayers Will Not Be On Hook for Auto Bail Out

Appearing on ABC’s politically-polarized “The View” on Thursday, President Barack Obama said that taxpayers will recover the money invested by the federal government to bail out the U.S. auto industry.

Posted in In the News

Geely to Finalize Purchase of Volvo Soon

China’s Zhejiang Geely Holding Company is on track to complete its purchase of Volvo Cars from Ford Motor Company next week, thus ending Ford’s part in the European luxury vehicle market.

Posted in In the News

Hyundai to Offer Two Trim Levels of New Equus Sedan in U.S.

Hyundai Motor Company will launch its flagship luxury model, the Equus sedan, in the U.S. later this year. Yesterday, the Korean automaker announced that American motorists will have a choice of only two trim levels, the Equus Signature and Equus Ultimate.

Posted in In the News

NADA Reports Dealer Profits Increased During First Five Months of Year

According to the National Automobile Dealers Association, the average dealer saw their pre-tax net profit nearly double during the first five months of 2010 compared with the same period last year.

Posted in In the News

Audi’s New A7 Sportback will be Available in U.S. Next Year

On Monday, Audi unveiled its sleek new A7 Sportback at the Pinakothek der Moderne art museum in Munich.

Posted in In the News

GM Announces Pricing for New Chevrolet Volt Plug-In Hybrid

After months of speculation by automotive analysts and journalist, General Motors Company has announced that the cost of its new Chevy Volt will be $41,000 including shipping fees.

Posted in In the News

‘Right to Repair’ Battle Heats Up

Automakers are fighting hard to stop a bill that would force them to disclose all diagnostic, service and repair software they provide to their dealerships. The “Right to Repair” bill is waiting for a vote in the Massachusetts state House after passing in the state Senate on July 6th.

Posted in In the News

Mercedes Benz Could Overtake Lexus as Top-Selling Luxury Brand in U.S.

After a decade as the top-selling luxury brand in the U.S., it appears that Toyota Motor Corporation’s Lexus brand may soon be deposed by Daimler AG’s Mercedes-Benz division. Over the past year, the Japanese automaker has seen a record number of safety recalls across its entire fleet.

Posted in In the News

Fiat to Return to U.S. Market after Nearly 30 Years

After being absent from the since 1984, Fiat is poised to re-enter the market this December with its Made-in-Mexico, Fiat 500 small car. The Italian automaker, which has a controlling interest in Chrysler Group, hopes to make a big splash with its new small car.

Posted in In the News

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