VW bill for U.S. diesel buybacks: $2.9 billion and counting

Volkswagen has paid $2.9 billion to repurchase nearly 138,000 U.S. diesel vehicles through Feb. 18 under a sweeping settlement over emissions violations. A report by an independent claims supervisor said VW is buying back and terminating leases on about 15,000 vehicles a week.

Grupo Antolin to open $61.2 million plant in Michigan, create 430 jobs

Spanish auto supplier Grupo Antolin plans to open a $61.2 million manufacturing plant in suburban Detroit, creating 430 jobs.

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The millennials are coming

So you thought millennials didn’t care about owning cars? Think again. They’re the fastest-growing segment among vehicle buyers and are likely to represent about 40 percent of the U.S. new car market by 2020.

FCA's plan to add stores riles dealers

Fiat Chrysler's plan to add about 380 dealerships to its U.S. network of around 2,500 stores has run into opposition from dealers who see the move as reckless and a threat to their businesses.

Ally's Q4 net income falls 5.7%

Ally Financial, one of the nation's largest auto-retail lenders, reported a 5.7 percent decline in fourth-quarter net income, to $248 million, as consumer auto loan and lease originations fell.

Wal-Mart says auto retailing venture won't sell cars directly

Wal-Mart's venture into auto retailing won’t involve selling cars directly, nor will it partner directly with dealers. Instead, the nation’s largest retailer will lease space in select stores to its partner, CarSaver, an online auto retail platform, much as it leases space to McDonald’s and others.

Automakers manage to keep stocks under control

U.S. automakers and dealers had a 63-day supply of unsold light vehicles on Jan. 1, up two days from the same time a year before but below the 65-day average for that date over the past 24 years.

Cadillac's Project Pinnacle has initial $800 million price tag

Cadillac's effort to transform its retailer network, known as Project Pinnacle, will cost $800 million in its first three years, the brand's chief says. Pinnacle, which starts April 1, overhauls how dealerships earn payments from Cadillac for meeting brand standards.

AutoNation to hire nationwide next Tuesday

AutoNation said it will host a one-day hiring event in 15 cities next Tuesday. More than a thousand sales and service positions are available at the stores and service centers.

Edmunds ramps up mobile strategy, redesigns site

Edmunds, kicking off the new year with a mobile-first strategy, has unveiled a new logo and launched a redesigned website. It also dropped the “.com” from Edmunds to signify that the company “has grown beyond a pure website.”

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