Expect to see a lot more of everything from Volkswagen of America in the next decade, starting right about now — more advertising, more products, and hopefully, from their point of view, a lot more cars on the road than you’ve ever seen from VW, even back in the 1960s. That’s because VW and its Audi luxury division have set the astounding goal of 800,000 U.S. sales by 2018....
Auto Industry Archive
August 2008
General Motors took a “Big Bath” on Aug. 1. GM announced a whopping $15.5 billion net loss for the second quarter, including a laundry list of $9.1 billion in special items, for everything ranging from a $1.6 billion write-down on the value of off-lease vehicles, to $197 million related to settling a strike at supplier American Axle. In a weeklong seminar for journalists I...
Add GMAC Financial Services to the list of auto finance companies dragged down by the drop in the value of used pickups and SUVs coming off of leases, along with Ford Credit and Chrysler Financial. It looks like Art Spinella at CNW Marketing Research had it right when he warned last month that auto lenders were about to take a big hit on used-truck values. Overall, GMAC had a second-quarter...
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