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Daimler’s Mercedes-Benz USA will take over sales and marketing of the microcar smart USA brand from Penske Automotive Group by the middle of this year, Mercedes-Benz USA and Penske said Monday.
By the end of the transition period around July 1, the number of U.S. Mercedes-Benz dealers selling smart cars will drop to the mid-50sfrom the current 75 at dealerships owned by the Penske group, a Mercedes-Benz spokesman said. Get the full story »
A sketch of the Nissan-built hatchback that Smart USA will start selling late next year.
Penske Automotive Group subsidiary Smart USA said Wednesday that it will begin selling a subcompact car in the United States in late 2011, the first vehicle for the U.S. market under an expanded Daimler AG and Nissan Motor Co. partnership.
Penske, in a filing with U.S. regulators, said development, engineering and tooling costs to bring the four-door hatchback to Smart’s U.S. dealers will cost $25 million. About $1.5 million of that will be in the just-completed third quarter’s expenses. Get the full story »
