Auto News for Aug. 5

Rolls Royce confirmed this morning that it will introduce a new “open-top touring” model by mid-2016. The new car is currently undergoing prototype testing and one official called it “a contemporary interpretation of a pinnacle drophead tourer.”

The Justice Department has served GM Financial a subpoena for documents relating to subprime auto loans dating back to 2007. Justice is said to be looking possible violations of a financial reform act dating to 1989. The word came in a GM filing with the government.

BMW and Toyota are doing quite well. BMW has reported its highest profitability in three years, thanks in part to demand for the X5 sport utility vehicle. And stronger sales here in North America and in Europe helped Toyota post a 5 percent gain in quarterly profit and top analyst expectations. The 2015 X5 is pictured.

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Let’s hear it for Doug Phelps. He drives for Con-way Freight and has recorded more than 3-million consecutive accident free miles. That is the equivalent of the space shuttle completing 177 orbits around the earth. Phelps is a 33 year truck driving veteran.

 

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