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Auto Net Financial News

Volvo forced to recall 20,000 new cars made in six-year period

October 31, 2011 by AutoNet

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Volvo has reported that it will have to recall about 20,000 cars spanning from older models from 2006 to new cars from 2012. The recall is due to incorrect labels to indicate tire pressure level, news sources say. Continue reading


Porsche sees big profit increase with demand for Cayenne

October 31, 2011 by AutoNet

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The Porsche Cayenne has been driving big time sales for the company, according to news sources. Demand for the sport-utility vehicle drove profit up 25 percent, with an operating profit up to about $2.14 billion. Continue reading


New Scion iQ car extremely small, but has big price tag

October 31, 2011 by AutoNet

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Scion revealed its new car, the Scion iQ hatchback, this month for 2012. The car will be a three-door, 10-feet long car from bumper-to-bumper, which The Associated Press is almost 2 feet shorter than the Fiat 500. Continue reading


Saab sold to Chinese firms for $140 million

October 31, 2011 by AutoNet

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According to news sources, new cars from Swedish auto maker Saab will now be made by two Chinese companies in an effort to save the company. Continue reading


Keep resale value in mind when buying a car

October 28, 2011 by AutoNet

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Jim Flammang of Cars.com writes on the Chicago Tribune’s website that when looking for new or used autos, shoppers should keep in mind the resale value of the car later. Continue reading


Daimler reports weak earnings in Europe, Volkswagen stays strong

October 28, 2011 by AutoNet

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Daimler, a European car manufacturer, reporter a weak third quarter in profit as the economy continues to affect weak new car sales in Europe, according to Reuters. Continue reading


Chrysler sees big profit jump in third quarter

October 28, 2011 by AutoNet

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Chrysler Group announced this week that the company experienced a profit of $21 million in the third quarter of this year, reversing last year’s $84 million loss. Continue reading


Used cars getting more expensive over past few years

October 27, 2011 by AutoNet

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Over the past few years, used autos have been getting more expensive, according to an article on Forbes’ website. The news source said the average value of a 3-year-old car has increased from $15,000 in 2008 to more than $23,000 in 2011. Continue reading


Group 1 profits could be sign of improvement for U.S. car sales

October 27, 2011 by AutoNet

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If sales from Group 1 Automotive, a big car dealership chain, are any indication, new cars could start seeing better sales across the United States. News sources said the group has had strong sales all year and those will continue into next year. Continue reading


Imports outselling American cars in California, but reliability may be similar

October 27, 2011 by AutoNet

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While American new car makers are experiencing sales strides in California, they are still behind import brands such as Honda and Toyota. But Consumer Reports said U.S. car makers rank ahead of all European manufacturers. Continue reading


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