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Advance Auto Parts Tapped to Join S&P 500
2015-07-07 00:34:59| Auto Parts - Topix.net
S&P Dow Jones Indices selected the Roanoke, Va.-based auto-parts retailer to take the place of Family Dollar Stores following its acquisition of by Dollar Tree . The change won't alter the tilt of the broad-market benchmark-both the incoming and outgoing stocks fall under consumer discretionary classifications.
FTC Resolves Claims Against Auto Dealers Based on Alleged Deceptive Advertising
2015-07-06 22:21:15| Auto Dealers - Topix.net
On June 29 , the FTC filed two administrative complaints and issued proposed orders against two Las Vegas auto dealers to resolve allegations that they engaged in misleading advertising practices that misrepresented the purchase price or leasing offers of their vehicles, as well as the amount actually due at signing. In addition, the FTC also contends that the auto dealers failed to disclose other key information in its advertisements, such as the need for a security deposit, whether a down payment was required, and the terms of repayment.
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AutoZone Is Citi's Top Auto Part Retail Pick
2015-07-06 18:29:50| Auto Parts - Topix.net
In a report published Monday, Citi analyst Kate McShane maintained a Top Pick rating on AutoZone, Inc. , saying that the company was their "best non-consensus call" and their "most favored idea in the auto part retail space." AutoZone's shares have risen over the past 9 months, and the stock is currently trading at a 14 percent premium to its 3-year average.
GM China auto sales flat in June despite broad price cuts
2015-07-06 12:02:06| Auto Dealers - Topix.net
GM and its Chinese joint-venture partners sold 246,066 cars in June, virtually unchanged from the same month a year ago, the U.S. automaker said in a statement on Monday. That compares with a 4 percent year-on-year drop in May sales and a 0.4 percent dip in April, when the automaker switched to reporting retail sales rather than wholesale data for China.
Auto sales stagnate in June, eye monsoons
2015-07-06 09:57:19| Auto Dealers - Topix.net
The domestic passenger vehicle industry endured a sluggish month in June as most major manufacturers barring Tata Motors and Honda either posted a decline in sales or single-digit growth. Market leader Maruti Suzuki, which had been outpacing the industry and growing in double digits in the last few months, reported a mere 1.65% growth in June compared to the same month last year.
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