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August 9, 2017 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
L.A. Buy Pushes Lithia to 4th in Nation
Bill Ford Thinks His Company Lacks Vision—and That He Can Fix It
Honda's Solo Act Turns Risky in the Alliance-Happy Auto Industry
Nissan Owners to Get Up to $500, Rental Cars in Takata Air Bag Deal
Takata Seeks to Suspend Air Bag Victims' Lawsuits Against Carmakers
U.S. Asks Judge to Dismiss Toyota Acceleration Case as Monitoring Ends
Top Stories
L.A. Buy Pushes Lithia to 4th in Nation

It didn’t take long for Lithia Motors to invest a hefty chunk of the $300 million raised in a senior note offering earlier this summer. In one of the nation’s largest dealership transactions of the year, the Medford auto retailer acquired Downtown Los Angeles Auto Group’s Audi, Mercedes-Benz, Nissan, Porsche, Toyota and Volkswagen franchises, and a Nissan store in nearby Carson [Calif.]. The deal follows the pattern of recent purchases Lithia calls “strategic partnerships,” acquiring long-standing operations from owners ready to move on, while retaining management.
Source: Mail Tribune (Medford, Ore.)

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Bill Ford Thinks His Company Lacks Vision—and That He Can Fix It

Ford Motor chairman led management shake-up to shift faster into electric vehicles, self-driving cars and ride-sharing services

Two decades ago, when Bill Ford took the helm of his family’s auto company, he was ready to talk about the coming shift to electric vehicles and the eventual demise of car ownership. His ideas were dismissed. At one point, when he wanted Ford Motor Co. to invest in developing alternative transportation, “the board kind of looked at me like once again I was over my ski tips,” Mr. Ford said in an interview.
Source: The Wall Street Journal

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Honda's Solo Act Turns Risky in the Alliance-Happy Auto Industry

Honda Motor Co.’s go-it-alone strategy looks increasingly risky as an alliance-happy auto industry scales up to cope with the soaring investment needed for self-driving vehicles, electrified power trains, connected-car technologies and artificial intelligence.
Source: Bloomberg

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Nissan Owners to Get Up to $500, Rental Cars in Takata Air Bag Deal

Owners of about 4.4 million Nissan vehicles with potentially defective Takata air bags are eligible for financial aid in getting their cars fixed and up to $500 in compensation under the terms of a new consumer settlement. Nissan has agreed to a $98 million class-action settlement with consumers to cover the economic losses they've incurred because of Takata's exploding air bag scandal.
Source: USA Today

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Takata Seeks to Suspend Air Bag Victims' Lawsuits Against Carmakers

Takata Corp.'s bankrupt U.S. business will ask a federal judge on Wednesday to suspend lawsuits against automakers that have been brought by people injured by its faulty air bag inflators, something that opponents say is an abuse of the law. Takata and TK Holdings Inc, the company's U.S. unit, filed for bankruptcy in June and said they faced tens of billions of dollars in liabilities from its inflators, which are subject to the biggest recall in automotive history.
Source: Reuters

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U.S. Asks Judge to Dismiss Toyota Acceleration Case as Monitoring Ends

The U.S. Department of Justice on Tuesday asked a federal judge to dismiss a criminal charge against Toyota Motor Corp after the Japanese automaker completed three years of monitoring as part of a $1.2 billion settlement over claims of sudden unintended acceleration in its vehicles.
Source: Reuters

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Quotable
"The role we're in now requires us to stick our necks out. We've got to place bets. We've got to have a point of view about the future."

    -- Bill Ford, Ford Motor Co. executive chairman, commenting on its long-term strategy, The Wall Street Journal, August 8


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