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Top Headlines - part 9

10 Vehicles that Take the Longest to Sell in the U.S.

10 Vehicles that Take the Longest to Sell in the U.S.

BUSINESS

Demand for new vehicles in the U.S. has risen sharply since the end of the recession, but not all models sell well. The average vehicles was on the dealer’s lot for 71 days in 2014, according to Kelley Blue Book data, with some models selling as quickly as 15 days and some taking as long as four months.

24/7 Wall St. took this data and used it to determine the longest turnover time. Other factors such as manufacturers' suggested retail prices, car reviews and turnover times from previous years also were taken into consideration.

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Uber Launches Auto-Rickshaw Service in India

Uber Launches Auto-Rickshaw Service in India

BUSINESS

  • Service first of its kind for Uber
  • Uber to compete against local services
  • Indian government, public have concerns over safety

Online cab-hailing company Uber Technologies Ltd. has launched its first auto-rickshaw service to compete against rivals in its second largest market after the U.S.

The service, launched in New Delhi, called uberAUTO, allows users to hail an auto rickshaw using Uber’s smartphone app.

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Mercedes Posts Best March in Company History

Mercedes Posts Best March in Company History

BUSINESS

German luxury car manufacturer Mercedes, owned by Daimler AG, posted its best March as global sales increased.

Last month, Mercedes sold 183,467 vehicles, a 15.7% increase from 2014.

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Warren Buffet Invests in Automotive Paint Company

Warren Buffet Invests in Automotive Paint Company

BUSINESS

  • Shares purchased from controlling shareholder
  • Company had formerly been part of DuPont
  • Buffet has expressed interest in other automotive investments

Billionaire investor Warren Buffet’s Berkshire Hathaway is buying 20 million shares in automotive liquid-and-powder-coatings manufacturer Axalta Coating Systems Ltd. for $560 million from controlling shareholder Carlyle Group.

Berkshire’s investment is 10% of outstanding stock and gives Berkshire a 8.7% share of Axalta.

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Cadillac Aims to Recapture Luxury Market with CT6, SUVs

Cadillac Aims to Recapture Luxury Market with CT6, SUVs

BUSINESS

  • Cadillac's New CT6 on same level as Audi, Mercedes and other rivals
  • New models expected in coming months, years
  • Cadillac needs more SUVs to compete in growing market

General Motors’ Cadillac, the largest luxury brand in the U.S., hopes to recapture a larger share of the luxury market with a long-term plan.

The 2016 CT6 will be available later this year. It is considered to be Cadillac’s most advanced vehicle, mostly because of its aluminum construction and two engine choices.

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Honda Civic Type-R Debuts in North America at Auto Show

Honda Civic Type-R Debuts in North America at Auto Show

BUSINESS

Japanese auto manufacturer Honda Motor Co. debuted the 10th generation Honda Civic, concept car Type-R, in North America at the New York International Auto Show.

Honda hopes to increase company sales with the new Civic, especially among younger car buyers.

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March Auto Sales for U.S. Manufacturers Stagnate

March Auto Sales for U.S. Manufacturers Stagnate

BUSINESS

  • FCA saw slight increase while Ford, GM saw declines
  • Japanese automakers also had mixed month
  • Light-truck market still going strong

American automakers saw stagnant sales compared to March 2014.

Fiat Chrysler Automobiles NV saw sales increase 1.7% to 197,261 vehicles, the company’s best month since 2007. The Jeep brand saw a 23% increase.

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Harmon International Purchasing Car-Audio Business for $156 Million

Harmon International Purchasing Car-Audio Business for $156 Million

BUSINESS

  • Purchase price includes licenses
  • Shares jump to highest level in 20 years
  • Sound systems available in luxury vehicles

American in-car multimedia systems manufacturer Harmon International Inc. has agreed to purchase the automotive side of Danish audio company Bang & Olufsen for $156 million.

The purchase price includes the licenses to use Bang & Olufsen’s brands as well as the business. Harmon will make an upfront payment and will pay $1.82 million annually for 20 years in licensing fees.

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New $500 Million U.S. Volvo Plant Intended to Increase Vehicle Sales

New $500 Million U.S. Volvo Plant Intended to Increase Vehicle Sales

BUSINESS

Swedish automaker Volvo Auto Group plans to invest $500 million to build a factory in the U.S. in an effort to increase sales in the world’s second-largest auto market.

Locations in three states are being considered, and the final decision should be announced in late April.

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Toyota Plans For Future After 2014 Recalls

Toyota Plans For Future After 2014 Recalls

BUSINESS

  • Plan to increase efficiency, cut costs
  • Automakers face challenges with growth
  • Toyota to discuss clean vehicles at Atlanta auto show

Toyota Motor Corp., the world’s largest automaker, has a plan to put recalls behind the company and move forward.

The plan, called Toyota New Global Architecture (TNGA), will focus on manufacturing and product development, with the aim of decreasing future recalls.

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