Auto News Headlines Final Edition March 26, 2019 - New Car Prices Rise Sales Fall - Duh!; Tariffs; smart Brand To Be Chinese Owned; Marchionne World Car Person Of The Year
U.S. auto sales are falling as vehicle prices climb, indicating that buyers at the lower end are getting squeezed out of the new car market, according to a new industry forecast. First-quarter auto sales are expected to drop by nearly 2.5 percent from a year earlier, to 4 million units, according to J.D. Power and LMC Automotive.
Tom Doll, Subaru of America Inc. president and chief executive officer, discusses the impact of the Trump administration's tariffs on the auto industry with Bloomberg's Kevin Cirilli on "Bloomberg Markets."
Daimler AG is nearing the sale of a 50 percent stake in its small-car brand Smart to China’s Geely Automobile Holdings Ltd, the Financial Times said on Tuesday, citing three people familiar with the matter. The sale of the stake in its Smart division will be confirmed before the Shanghai Auto Show in April, FT said.
In a private ceremony at the Geneva Motor Show this month, Sergio Marchionne, the former FCA CEO was honored with the World Car Person of the Year award, a trophy accepted by new CEO Michael Manley, former head of Fiat Chrysler’s North American operations.