– AutoNation has signed an agreement to acquire Laurel Motors Automotive Group, giving it its first luxury-vehicle franchises in the Chicago market. Laurel Automotive includes Audi dealerships in Tinley Park and Westmont, Mercedes-Benz stores in Westmont and Naperville, a BMW store in Westmont and a Jaguar/Volvo store in Tinley Park. AutoNation owns Toyota, Ford, Dodge, Chevy and Kia stores in Libertyville, Naperville, Forest Park, Elmhurst, Des Plaines, Niles and Downers Grove.
– Notable quotes from Rick Wagoner, president and chief executive of GM: “Those in the ’90s who simply repeated the same products did OK. Those who stretched the envelope like Lexus did with its RX300 are the ones who made the money.” And on zero-interest deals, which GM extended until Jan. 2 with restrictions: “Zero percent financing is expensive, but a lot less expensive with interest rates down and a lot less expensive than closing plants.”
– Can Ford be profitable in 2002? “The first half will be a challenge. There will be payback from the zero-percent financing from this year. I’m not a pessimist, but not overly optimistic. Yet yes, we can be profitable if we successfully execute our gameplan and have a successful launch of the new Ford Expedition and Lincoln Navigator [in the fall of] next year,” said Jim Padilla, group vice president of Ford Motor Co.’s North American automotive operations.
– Volo Auto Museum has added a World War II military jeep to its collection. The 1944 jeep, produced by Ford, comes with a 50-caliber machine gun, radio equipment, an ax and shovel, sirens, lights and a matching trailer.
