Post Tagged with: "automotive"

Asbury Automotive Group issues redemption notice for senior subordinated notes

Asbury Automotive Group issues redemption notice for senior subordinated notes

Asbury Automotive Group Inc. has issued a notice of redemption for all of its outstanding 7.625% senior subordinated notes due 2017. The redemption date is September 28, 2013, and the redemption price is 102.542% of the principal amount of the notes to be redeemed, plus accrued and unpaid interest and special interest thereon, if any, [...]

Heartland Automotive buys 33 new locations in Florida, South Carolina

Heartland Automotive buys 33 new locations in Florida, South Carolina

Heartland Automotive Services Inc. completed the second largest acquisition in company history with the addition of 33 new locations across northern Florida and South Carolina. Heartland is the nation’s largest provider of quick oil change and other preventive automotive maintenance services under the Jiffy Lube brand, serving nearly four million customers per year. In addition [...]

Nissan to install EV quick chargers at over 100 US LEAF dealerships

Nissan to install EV quick chargers at over 100 US LEAF dealerships

Nissan announced that it will support installation of more than 100 DC quick chargers at LEAF-certified dealers in 21 key markets nationwide. The units, which use the CHAdeMO standard, can charge the vehicle from depleted to about 80% in about 30 minutes. The quick charging initiative follows a 24-dealer pilot program, which Nissan rolled out [...]

Group 1 buys Ford dealership In Louisiana

Group 1 buys Ford dealership In Louisiana

Group 1 Automotive Inc. has acquired Rountree Ford Lincoln in Shreveport, Louisiana. The dealership is expected to generate $80 million in estimated annual revenues. “We are delighted to strengthen our relationship with Ford Motor Co. and expand our existing footprint in Louisiana with the addition of Rountree Ford,” Group 1′s President and Chief Executive Officer [...]

Volkswagen Chattanooga builds 250,000th Passat midsized sedan

Volkswagen Chattanooga builds 250,000th Passat midsized sedan

Volkswagen Chattanooga (Tenn.) announced that its workforce has produced the 250,000th Passat midsized sedan. The car, produced in Volkswagen’s LEED Platinum-certified factory, is night blue with black leather interior. It is powered by Volkswagen’s high-mileage TDI clean-diesel engine and features navigation, a sunroof and 18-inch alloy wheels. It also offers the amazing sonic experience provided [...]

China Yuchai International president resigns

China Yuchai International president resigns

China Yuchai International Ltd. said that Benny H Goh has resigned as president and director of the company to pursue other opportunities. Goh’s last day of service will be May 31, 2013, the company said in a statement. In the interim until a replacement is identified, the duties of the president will be assumed by [...]

RelayRides acquires Wheelz

RelayRides acquires Wheelz

RelayRides has acquired peer-to-peer car sharing platform Wheelz. Financial terms of the deal were not disclosed. “The acquisition of Wheelz brings new talent, technology and resources that bring us even closer to our companies’ shared goal of having a car within a 10-minute walk for at least 100 million Americans by the end of 2015,” [...]

Sonic Automotive names CFO

Sonic Automotive names CFO

Sonic Automotive Inc. has promoted Heath R. Byrd from chief information officer to executive vice president and chief financial officer (CFO). Byrd joined Sonic in November 2007 as CIO and has been a driving force in the implementation of the company’s many technology innovations. Byrd takes over a team and balance sheet that is well [...]

Echo Automotive opens new facility in Scottsdale, Ariz.

Echo Automotive opens new facility in Scottsdale, Ariz.

Echo Automotive Inc. has opened an all new location in Scottsdale, Arizona, in order to accommodate capacity for the installation of EchoDrive conversion kits into customer fleet vehicles. The company anticipates a future announcement regarding an open house and ribbon cutting in the coming months to celebrate the new facility and will be inviting key [...]

AutoTrader Group acquires Automotive Information Systems

AutoTrader Group acquires Automotive Information Systems

AutoTrader Group has acquired Automotive Information Systems (AIS). Terms of the deal were not disclosed. The acquisition aligns naturally with AutoTrader Group’s mission to dramatically improve the way people buy and sell new and used cars. It will provide benefits for customers, consumers and the industry. One key benefit is in the new car pricing [...]