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Top Stories
Porsche to Try Out Online Sales
Porsche is launching online car sales in the U.S. in a nod to shifting consumer shopping preferences. The pilot project with 25 dealers allows customers to shop vehicle inventory and complete paperwork online. Once an online order is submitted, customers must visit the dealership for final signatures and to collect their vehicle, Porsche said.
Source: Automotive News
GM, Toyota, Fiat Chrysler Back Trump on California Emissions Challenge
Major automakers are siding with the Trump administration in its bid to bar California from setting its own fuel efficiency rules or zero-emission requirements for vehicles, the companies said in a filing with a U.S. appeals court late on Monday. The move by firms including General Motors Co, Toyota Motor Corp, Hyundai Motor Co, and Fiat Chrysler Automobiles NV, follows legal challenges by California and 22 states and environmental groups in September. Those challenges aim to undo the Trump administration’s determination, issued in September, that federal law bars California from setting stiff tailpipe emission standards and zero-emission vehicle mandates.
Source: Reuters
GM Hustles to Get Parts to Dealers as Customers Await Repairs
Anxious car dealers and impatient customers are caught in the aftermath of the 40-day UAW strike against General Motors that ended last week. GM was restarting most of its plants Monday morning with an eye on getting parts to dealers fast. It sent out a notice late Friday to its dealers that said: "One of our top priorities is to restore the health of our parts distribution network."
Source: Detroit Free Press
AutoNation Expands Waymo Partnership; Q3 Profit Dips on Severance Cost
Auto retail giant AutoNation Inc. is expanding its service agreement with Waymo in a two-year extension that now also will include delivering parts using autonomous vehicles in the Phoenix area. AutoNation, which made the announcement Tuesday as it released third-quarter results that dipped from a year ago, said the parts delivery initiative will begin in the coming months at its AutoNation Toyota Tempe dealership in Arizona.
Source: Automotive News
Penske Automotive Q3 Earnings Dinged by Higher Taxes, Brexit
Penske Automotive Group Inc. set a record for revenue in the third quarter, though its earnings were dragged down by an increased U.S. tax rate and lower United Kingdom profits amid a weakened vehicle market, largely related to Brexit. Net income from continuing operations for the nation's second-largest new-vehicle retailer fell 11 percent to $116.1 million. Its results in the 2018 third quarter included an $11.6 million tax benefit related to a final reconciliation of the 2017 U.S. Tax Cuts and Jobs Act. Without the benefit, adjusted income from continuing operations was $118.5 million a year ago.
Source: Automotive News
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