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Top Stories
Used-Car Sales at Public Groups Up 11% in Q3
The combined same-store new-car sales for the six publicly traded dealer groups were fairly steady in the third quarter, falling a shade under 1% year-over-year, according to company filings and Cox Automotive estimates. But their used-car sales? Same-store sales were up almost 11%, according to the same data set. But it’s not just the big dealer groups that are seeing rising used-car sales.There were 230,346 certified pre-owned vehicle sales industrywide in October, according to a separate analysis from Cox Automotive. That sum beats year-ago figures by 8% and bests prior-month numbers by 12%.
Source: Auto Remarketing
GM Not Liable for Punitive Damages in Ignition Switch Cases: U.S. Appeals Court
A federal appeals court said General Motors Co is not liable for punitive damages over accidents that occurred after its 2009 bankruptcy and involved vehicles it produced earlier, including vehicles with faulty ignition switches. The 2nd U.S. Circuit Court of Appeals in Manhattan said on Tuesday that the automaker did not agree to contractually assume liability for punitive damages as part of its federally-backed Chapter 11 reorganization.
Source: Reuters
Cadillac Subscription Service to Return in February
Book by Cadillac, a subscription service that General Motors put on hiatus in late 2018, will return early next year with a new direction, said Deborah Wahl, GM's chief marketing officer. Speaking Tuesday at the J.D. Power/NADA AutoConference L.A. here, Wahl said the first dealers will begin piloting the revamped program in February. While she did not go into details, she promised greater "convenience, flexibility and value for potential subscribers." Wahl's presentation Tuesday focused on how she is attempting to help GM stay ahead of consumer preferences. She cited another Cadillac initiative, Super Cruise, as a technology customers may not have asked for, but loved.
Source: Automotive News
Mitsubishi Picks Site Near Nissan in Tenn. for New N.A. HQ
Mitsubishi plans to lease 40,000 square feet of office space in the Cool Springs district of Franklin, Tenn., for its new North American headquarters – just across I-65 from alliance partner Nissan North America. The company has temporarily occupied another building in Franklin as it transitions from Cypress, Calif., to be closer to Nissan.
Source: Automotive News
Land Rover Returns to Its Roots – And New Defender Will Return to the U.S. Market
It’s been nearly four years since the last Land Rover Defender rolled off the assembly line – and a full 22 years since the big off-roader last was seen in U.S. showrooms. But Defender – the closest thing the British brand has to its brutish, off-road roots – is back. The official debut this week of an all-new model at the 2019 Los Angeles Auto Show marks its return to the American market.
Source: CNBC
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