Ghosn steps down as Nissan CEO, hands reins to Saikawa as focus shifts

UPDATED: 2/22/17 8:55 pm ET - adds photo gallery

Carlos Ghosn, the long-serving CEO who rescued Nissan from bankruptcy, is stepping down as CEO, having nearly finished his latest business plan and driven the Renault-Nissan Alliance to new heights with the acquisition of Mitsubishi. Hiroto Saikawa, who currently serves as co-CEO, will become sole chief executive.

EPA rates VW's 2017 e-Golf at 126 mpg-e and boosts range to 125 miles

An upgraded lithium ion battery pack and electric motor have enabled the 2017 Volkswagen e-Golf to achieve a 126 mpg-e city rating and a doubled

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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.”

RouteOne acquires MaximTrak in bid to boost digital retail business

RouteOne has acquired F&I sales tool provider MaximTrak, effective as of now, RouteOne Holdings said Tuesday. Together, their goal is to position RouteOne for the future of digital retail by enabling customers to finance their vehicles and buy F&I products from wherever they're comfortable: in the finance office, on the showroom floor or online.

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