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Mazda and FIAT Team Up to Build Next Generation Miata

Mazda announced an alliance with FIAT Tuesday, which will result in the next-generation MX-5 Miata. In addition to a redesigned version of our 2012 Best Sports Car for the Money, the Miata will also gain an Alfa Romeo sibling. Both sports cars will offer the Miata’s lightweight design and rear-wheel drive, but there will be some differences. They’ll be powered by different engines and offer unique styling which will be specific to each brand. The partnership will offer ... continue reading»

Tags: Industry News, Redesigns, Mazda MX 5 Miata, Model News

Americans Holding onto New Cars Longer

Drivers in the U.S. are keeping new cars for nearly six years, which is the longest time period since 2006, according to a new study by Polk. When Polk began surveying new-car owners in 2003, people were keeping new vehicles for about four years, according to the Atlanta Journal Constitution. Now, Polk reports that buyers are waiting for an average of 71.4 months to sell or trade their new vehicles. MarketWatch reports that the aging new-car fleet in ... continue reading»

Tags: News, Used Cars, Industry News, Used Car Prices

Chrysler Pays Back Government Loans

In an effort to eliminate high-interest debt and regain consumer confidence, Chrysler CEO Sergio Marchionne announced yesterday that Chrysler has repaid its $7.6 billion debt to the U.S. and Canadian governments. “The early repayment, about six years ahead of schedule, is expected to save Chrysler $300 million or more a year in interest charges,” Edmunds reports. Additionally, Fiat increased its stake in Chrysler by $1.27 billion, which increases its share of the automaker from 30 to 46 ... continue reading»

Tags: Industry News, Chrysler, FIAT, Model News