Navis Capital sells WorldMark stake
Malaysia-based private equity firm Navis Capital Partners has reached a deal to sell its interest in WorldMark Group Holdings to Australia’s Quadrant Private Equity.
Improved car sales evident AP Eagers’ profit book
Dealer group AP Eagers has reported a record half year net profit before tax of $67.9 million from $59.5 million in 2015’s half year - up 14%.
Online advertising spend reaches record $6.8 billion
The Australian online advertising market has again delivered robust double-digit growth led by automotive, increasing $1.6 billion to reach $6.8 billion for the full financial year ending June 30 - a 29.7% increase over the prior financial year and the fastest year-on-year growth over the last five years.
FBAA meets ASIC over flex commissions for car dealers
A revised finance commission structure for dealers in the motor industry seems likely to take effect in late 2017 according to the Finance Brokers Association of Australia (FBAA).
Schreyer celebrates 10 years and unified brand
Peter Schreyer is celebrating 10 years at Kia Motors as chief design officer, and his appointment as vice president for the whole Hyundai Motor Group, of which Kia is a part.
Mitsubishi execs visit potential EV island
In a recent visit to Kangaroo Island, Mitsubishi Motors Corporation (MMC) and Mitsubishi Motors Australia showed their support of Kangaroo Island Council’s quest to raise awareness about the benefits of electric vehicle (EV) and plug-in hybrid electric vehicle (PHEV) usage to achieve zero emissions by 2050.
Mustang smashes police car after botched dealer robbery
The driver of a stolen Mustang smashed into a police car in an attempt to avoid capture as a burglary from a Ford dealership in Melbourne’s Frankston went awry.
Aggrieved car dealers hits back at unflattering ad
UK-based mobile network operator O2’s advert depicting the superiority of its secondhand phone handsets in comparison to the dodginess of used cars has left some car dealers aggrieved.
More than 200 cars stolen using pirated software
Two men accused of using pirated computer software to steal more than 100 vehicles may have exploited an electronic vulnerability to advance auto theft into high-tech crime. They are currently in jail in Houston.
Canadian group purchase of 2788 Nissan Leaf EVs
Eco-friendly activist Bruno Marcoux in Montreal has instigated a huge group-purchase of Nissan Leaf electric vehicles from Montreal's Nissan Gabriel Jean-Talon dealership.