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Volkswagen 2009 profit stalls
Volkswagen, the biggest European carmaker, said Friday that 2009 profit plunged by nearly 80 percent in the global slump but predicted that sales and operating profit would rebound this year. VW reported a 79.8 percent drop in net profit to 960 million euros (1.3 billion dollars) on sales that fell by 7.6 percent to 105.2 [...]
LoJack reports 90 percent recovery rate
LoJack Corp., the Westwood company that specializes in finding and recovering a wide range of mobile assets including motor vehicles and construction equipment, said today that it posted a 90 percent success rate for recovering 11,382 LoJack-equipped stolen vehicles in 2009. Citing FBI data for 2008, the most recent year for which such data were [...]
New European car sales up 12.9% in Jan
New car sales were up 12.9 percent across the European Union in January compared with a year earlier, benefiting from ongoing fleet renewal schemes, the European carmakers body said on Tuesday. However, the bloc’s biggest market, Germany, saw a decline of 4.3 percent, reflecting the end of incentives there. Italy, Britain, Spain and France each [...]
Insurance refunds for Massachusetts bikers
State Attorney General Martha Coakley announced settlement agreements with Safety Insurance Company, Liberty Mutual Insurance Company and Quincy Mutual Fire Insurance Company over allegations the companies overcharged customers. The three companies were allegedly using incorrect motorcycle values to calculate insurance premiums. Insurers are supposed to use current book values to calculate collision and comprehensive premiums [...]
Audi Sales up by roughly 39% in Jan 2010
With some 77,800 cars delivered worldwide, AUDI AG achieved sales growth of around 39 percent in January (2009: 56,138). In the past month, 16,798 Chinese customers chose an Audi – more than twice as many as in January 2009 (2009: 7,816). Sales in the United States rose by 37.9 percent to 6,510 cars (2009: 4,722). [...]
CarMax’s Car Giveaway Contest on Twitter
CarMax, Inc. the nation’ largest retailer of used cars, is reporting that its ” Tweet Yourself to a New Ride” contest on the popular social networking website Twitter, has been increasing in popularity with just four weeks left to enter. CarMaxhas more than tripled its Twitter audience with over 5,700 new followers in the first [...]
Auto sales up – but not for Toyota
Several major automakers reported improved sales for January, with the notable exception of troubled Toyota Motor. Toyota said Tuesday that January sales fell 16% from a year earlier, worse than a forecast of a 12% year-over-year decline from sales tracker Edmunds.com. Toyota had to suspend the sales of its most popular models for much of [...]
Carmax Hiring for 600 Store Positions
CarMax, Inc., the nation’s largest retailer of used cars, is currently recruiting for approximately 600 store positions in locations across the country. The majority of positions are in sales, with additional openings in service operations, the business office and purchasing. Automotive experience is not necessary for most positions. Full and part-time positions are available. “At [...]
Carmax named one of the “100 Best Companies to Work For”
CarMax, Inc., the nation’s largest retailer of used cars, has been named by FORTUNE magazine as one of its 2010 “100 Best Companies to Work For.” This is the sixth consecutive year CarMax has been named to the list. CarMax ranks No. 56 on the list for 2010. The list and related stories will appear [...]
Bosch to close factory in Wales, loss of 900 jobs
German engineering giant Bosch is set to close a car parts factory in Wales with the loss of 900 jobs, said the company, blaming the economic downturn which has hit the automotive industry hard. The division in charge of the plant near Cardiff will recommend to the firm’s board that production be phased out at [...]
