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CEO says Volkswagen's buying spree is over

After adding Italian motorcycle icon Ducati to its stable and spending $5.6 billion on the rest of Porsche, Volkswagen CEO Martin Winterkorn says he's done shopping for a while.
"We have enough to do at the moment in taking our twelve brands to where we want to be," Winterkorn tells German newspaper Handelsblatt.

FCA's new Heritage HUB showcases 250 rare Fiats, Lancias and Alfa Romeos

Fiat Chrysler Automobiles (FCA) has opened a new facility near Turin, Italy, dedicated to preserving and celebrating the company's Italian brands, as well as the historic cars each has created. It's bigger than the average Costco, and it houses more than 250 pieces of automotive art, some of which have never been publicly displayed. It's called the FCA Heritage HUB. The HUB building is itself a piece of history. FCA restored the old Officina 81 in Via Plava of the historic Mirafiori industrial district on the south side of Turin. At 161,459 sqare feet (the average Costco is 145,000 sq ft), it's a massive open space that allows for both business and pleasure. In the rafters, photos and text tell the timeline of Mirafiori, but the floor focuses on Fiat, Lancia, Abarth, and Alfa Romeo. Although part of the space is dedicated to the "Reloaded by Creators" vintage restoration sales department, the portion we're interested in is shown in the massive gallery above. FCA says it has more than 250 vehicles on display, and some have never been shown. The "central area," which explores cars from 1908 to 2008, is separated into eight themes, each of which has eight cars. The eight areas include Archistars, Concept and Personalized Cars, Eco and Sustainable, Epic Journeys, Records and Races, Small and Safe, Style Marks, and The Rally Era. Some of the cars featured at the new shop include the Lancia Lambda, the Fiat 500 Topolino A, the Fiat 130 Familiar, the Fiat X1/23, the Fiat Ecobasic, the Fiat Campagnola AR 51, the Fiat 1100 E, the Fiat 124S, the Lancia Delta HF Integral Group A, the Fiat S61, the Lancia Alfa Sport, the Lancia D50, the Lancia Beta Montecarlo Turbo, the Lancia LC2, the Lancia Augusta, the Lancia Ardea, the Fiat ESV 1500 and 2000, the Fiat Barchetta, the Lancia Aurelia B20, the Lancia Fulvia HF 1600, and the Lancia Stratos HF. Check out the gallery and below videos to see the full extent of what the HUB has to offer. Featured Gallery FCA Heritage Hub View 47 Photos News Source: FCA Alfa Romeo Fiat Lancia Automotive History Classics FCA fiat chrysler automobiles

Buyers resent low inventories, prices over MSRP, study says

Vehicle inventory low, vehicle transaction prices high, customers fretting … welcome, J.D. Power, to the era of supply and demand. In a recently published survey from one of the auto industryÂ’s top analytical firms, findings show that customers' satisfaction with vehicle purchases in the United States this year has dipped for the first time in 10 years. The 2022 U.S. Sales Satisfaction Index (SSI) Study found that overall sales satisfaction has dropped to 786 (on a 1,000-point scale) from 789 in 2021. In that year, higher than expected trade-in values softened the effect of new vehicle price increases. But in 2022, on top of trade-in prices shrinking, many dealers elected to charge more than the ManufacturerÂ’s Suggested Retail Price, a factor that did not sit well with buyers. “When dealers charge more than MSRP, particularly with long-term loyal customers, they risk a potential long-term negative effect on customer advocacy and service business," said Chris Sutton, vice president of automotive retail at J.D. Power. Satisfaction among buyers who paid more than sticker price is 757, while satisfaction among those who paid the sticker price or less is 850, the Power report said. The lack of dealership inventory was also a customer irritant, J.D. Power found, a point that automakers and their dealers may want to consider. Many have maintained, or considered maintaining, a smaller inventory in the wake of the pandemic, keeping costs down and driving more customers toward factory orders. Regarding those consumers shopping for electric vehicles, the survey said that more than a third of them “failed to get instruction on EV charging before they left the dealership, which notably affects satisfaction.” Said Sutton, “Salespeople donÂ’t need to show gas-powered vehicle buyers how to fill their tank, but they do need to show EV buyers how to charge their vehicle.” There are positives to the Power conclusions, however, especially for Alfa Romeo dealers. The Italian brand ranked highest in customer satisfaction among premium brands with a score of 833, with Porsche a very close second (831) and Lexus (819) third. Alfa is on something of a roll these days, with its compact Tonale crossover due for release in the spring, and a new sports car in the works. Meanwhile, in PowerÂ’s “mainstream brand”” segment, Buick ranked first with a score of 825, followed by Dodge (816) and Subaru (804), all performing higher than the industry average.