J.D. Power finds auto satisfaction is stalled
ANN ARBOR—Customer satisfaction with the auto industry is stuck in neutral. Overall customer satisfaction with automobiles and light vehicles is unchanged with a score of 78 out of 100, according …
Penske, Cox Automotive launch online used car sales platform
BLOOMFIELD HILLS—Ready to buy a used car entirely online? Bloomfield Hills-based Penske Automotive Group Inc. (NYSE: PAG) and Atlanta-based Cox Automotive Inc. are ready to sell you one that way. …
Online auto shopping gaining favor: J.D. Power
TROY—Nearly half, 49%, of all vehicle shoppers are willing to purchase a new vehicle online, which is an increase of 11 percentage points from 18 months ago and 4 percentage …
J.D. Power buys auto finance and insurance software developer
TROY–Officials at the Troy data analytics and consumer intelligence provider J.D. Power announced the company had acquired Edison, N.J.-based Superior Integrated Solutions Inc., a developer of finance and insurance software …
Average age of cars and light trucks on the road reaches 12.1 years
SOUTHFIELD, Mich.–(BUSINESS WIRE)–New research from IHS Markit (NYSE: INFO) shows that the average age of light vehicles in operation (VIO) in the U.S. has risen to 12.1 years this year, …
Penske names new CFO, EVP
BLOOMFIELD HILLS—Penske Automotive Group Inc. has named Michelle “Shelley” Hulgrave executive vice president and CFO. She had been senior vice president and corporate controller. Hulgrave succeeds J.D. Carlson, who is …
Stoneridge profit shrinks
NOVI—Stoneridge Inc. (NYSE: SRI) reported first quarter net income of $130,000 or less than a penny a share in the first quarter, down from $3.5 million or 13 cents a …
Shyft Group adds two new directors
NOVI—Officials at Shyft Group Inc. (Nasdaq: SHYF), formerly Spartan Motors, announced the addition of Terri Pizzuto and Mark Rourke to the company’s board of directors. Shyft is a manufacturer of …
GM to hire 650 temporary employees full-time
DETROIT—General Motors Co. (NYSE: GM) announced that more than 650 hourly employees at its sites in the United States will transition from temporary to regular full-time employment in January. These employees …
Penske Automotive posts record profit
BLOOMFIELD HILLS—Penske Automotive Group Inc. (NYSE: PAG) posted net income of $246.6 million or $3.07 a share in the third quarter of 2020, up from $116.2 million or $1.42 in …