DETROIT — General Motors announced plans this week to make more investments as a response to customer demand for more fuel-efficient vehicles. This latest undertaking focuses on retooling five North American plants to produce a new generation of fuel efficient, small block truck and car engines. The automaker said it will invest more than $890 million […] [Read More]

DETROIT — AOL Autos used March sales figures to compile a list of the top-selling new compact and full-size trucks. So which unit led the way?   Site editors revealed it was a staple for the industry, the Ford F-150. Two more domestic offerings were among the site's top three units, the Chevrolet Silverado and Dodge Ram. Breaking the […] [Read More]

MEDFORD, Ore. — Though Lithia Motors' net income fell by almost 5 percent in the first quarter, the company said it still saw improvement in adjusted earnings per share and enjoyed a significant lift in quarterly revenue, especially on the used side. Specifically, Lithia recorded first-quarter net income of $1.27 million, down from $1.33 million in […] [Read More]

BLOOMFIELD HILLS, Mich. — For the second time in just over a month, Penske Automotive Group has opened a new Mini store in the group's Western region, as it unveiled a 17,500-square-foot facility in Austin, Texas, on Tuesday. Mini of Austin's debut comes just five weeks after Penske opened Mini of Tempe to serve the Phoenix […] [Read More]

SANTA MONICA, Calif. — Ford, which said Tuesday it earned $2.1 billion in first-quarter net profit, is on pace to move ahead of Toyota and climb back into the No. 2 spot for yearly U.S. auto sales for the first time since 2006, according to Edmunds.com. Ford has finished third in full-year U.S. auto sales in […] [Read More]

HOUSTON — Thanks largely to improvements in its business structure as well as a healthier auto environment, Group 1 made what its president and chief executive officer called a "strong start" to the year. Adjusted net income for the first quarter came in at $10.4 million, up from $4.7 million in the year-ago period. The most […] [Read More]

CHARLOTTE, N.C. — Sonic Automotive said it compiled strong first-quarter results with its retail used-vehicle operation leading the way.  Executives said Tuesday that during the first quarter, the company recorded net income of $4.15 million, up from $1.68 million a year ago. Adjusted earnings from continuing operations were $0.14 per share, compared to $0.10 per share last year.  Sonic explained […] [Read More]

HERNDON, Va. — Audi of America is looking to further leverage the exposure one of its vehicles is receiving in the film Iron Man 2. The automaker on Tuesday announced an online social-media contest called "The Tony Stark Innovation Challenge" that stems from the movie character's use of the Audi R8 and other technological advances. Starting Wednesday, […] [Read More]

PARK RIDGE, N.J. — Hertz Global Holdings has signed an agreement to buy Dollar Thrifty Automotive Group in a move officials said will help Hertz grow its global footprint and become the second largest vehicle-rental company in the U.S., among other benefits. Hertz is paying approximately $1.2 billion in cash and stock to acquire Dollar Thrifty. […] [Read More]

DETROIT — Executives with General Motors Certified Used Vehicles broke out their calculators to create their new "Built-In Value" advertising campaign. They put an approximate dollar amount for the features their CPO units have, which include a 12-month/12,000 mile bumper-to-bumper warranty, 117-point inspection, vehicle reconditioning, free Carfax Vehicle History Report, 24-hour roadside assistance and a three-month trial […] [Read More]