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Gently Used Posing Harsh Threat To New Car Sales Consumers may finally be nearing a breaking point as new vehicle prices continue to rise, causing a seismic shift in the marketplace as shoppers scramble to find the models they desire at prices they can afford—and that’s danger for the automakers. That was the sobering message from Cox Automotive economists during a briefing for the media in Detroit on Monday. Source: Forbes
Zeigler Automotive to Buy 3 Luxury Dealerships Near Chicago Zeigler Automotive Group, a large privately owned dealership group, said Monday it's buying three luxury dealerships in suburban Chicago from the Motor Werks Auto Group in its largest acquisition to date. The deal, expected to close on Jan. 20, includes Mercedes-Benz and Sprinter of Hoffman Estates, Jaguar-Land Rover Schaumburg and Infiniti of Hoffman Estates, all in Illinois. The acquisition adds Mercedes-Benz, Sprinter, Jaguar and Land Rover to Zeigler's portfolio, its second Infiniti store and grows its presence of stores outside of Chicago. Source: Automotive News
Renault Alliance Is Here to Stay, Nissan Says After Ghosn Escape Nissan Motor Co. said it is in no way considering the dissolution of its alliance with Renault SA, which was shaken even further by the dramatic escape of former chairman Carlos Ghosn from trial in Japan. “The alliance is the source of Nissan’s competitiveness,” the Yokohama-based company said in a statement Tuesday, pushing back against reports that its executives have looked at the possibility of breaking with the global carmaking partnership. “Through the alliance, to achieve sustainable and profitable growth, Nissan will look to continue delivering win-win results for all member companies.” Source: Bloomberg
Lamborghini’s 2019 Sales Jump 43%, Driven by its Urus SUV Lamborghini reported a scorching 43% jump in sales in 2019, driven by its new Urus SUV. Lamborghini is the latest high-end car company to report record sales in 2019, boosted by their hulking, powerful SUV’s than traditional sports cars. Lamborghini said it sold 8,205 vehicles worldwide in 2019, up from 5,750 in 2018. Source: CNBC
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