Breaking language barrier for sales success

A big part of Audi Dominion's staff is fluent in Spanish, and that's a big part of the reason for the Texas store's sales success.

from Section Page News - Automotive News https://ift.tt/bzWliIK

Cepton's CES plan: Show investors Lidar tech is ready for prime time

Lidar company Cepton has a contract with GM and wants to use CES to sign up more customers in 2023.

from Section Page News - Automotive News https://ift.tt/WYohgRv

Suppliers bring new visions for a new era

Amid a rapidly changing automotive landscape, CES provides a broad venue for parts suppliers to lay out their visions of the future.

from Section Page News - Automotive News https://ift.tt/SLXpnU2

Ex-GM exec lost his son to distracted driving. Fighting it is now his full-time job.

Steve Kiefer quit his job leading international operations at General Motors to focus on improving distracted driving laws.

from Section Page News - Automotive News https://ift.tt/VPaGWZT

Indy Autonomous Challenge returns to CES for a more sophisticated sequel

Autonomous race cars are getting closer to behaving like their human-driven counterparts. The next event takes place at CES in Las Vegas.

from Section Page News - Automotive News https://ift.tt/Yzv2Z6u

Tesla used-car price bubble pops, weighs on new-car demand

Prices of used Teslas are falling faster than those of other automakers and the EVs are languishing on dealer lots longer.

from Section Page News - Automotive News https://ift.tt/DhWT8d1

EVs occupy the pole position heading into CES

EVs from BMW and Stellantis will be among the transportation innovations unveiled at CES in Las Vegas as global electrification trends intensify.

from Section Page News - Automotive News https://ift.tt/mg3XQa5

LIFO relief for dealers passes Senate; no vote from House

The Supply Chain Disruptions Relief Act, designed to give dealerships that use the "last in, first out" inventory accounting method tax help as they restock their inventories.

from Section Page News - Automotive News https://ift.tt/4pjVElx

LIFO relief for dealers passes Senate; fate in House undecided

The Supply Chain Disruptions Relief Act, designed to give dealerships that use the "last in, first out" inventory accounting method tax help as they restock their inventories.

from Section Page News - Automotive News https://ift.tt/LxTzlRj

NHTSA probes two more Tesla crashes involving suspected driver assistance

The new crashes under investigation include an eight-vehicle crash in San Francisco in which the driver of a 2021 Tesla Model S reported the Full-Self Driving feature had malfunctioned, according to a police report.

from Section Page News - Automotive News https://ift.tt/m7g1eRq

McLaren recalls just launched Artura in U.S. for faulty nuts

The McLaren Artura, which suffered software and supply chain delays that pushed back its launch, has been recalled for faulty nuts.

from Section Page News - Automotive News https://ift.tt/n5hmrQN

Tesla dispatches Shanghai boss, aides to jumpstart U.S. output

SHANGHAI -- Tesla Inc.'s China chief Tom Zhu and a team of his reports has been brought in to troubleshoot production issues in the United States, fueling talk among colleagues he is being groomed for a bigger role at a time when CEO Elon Musk has been distracted by Twitter.

Zhu, who heads Tesla's Asia operations, has been traveling with a team including Shanghai gigafactory manager, Song Gang, to Tesla's plants in California and Texas, and was there as recently as last week, according to two people with knowledge of the matter. Both asked not to be named because they were not authorized to speak to the media.

Tesla did not respond to written requests for comment from Reuters sent to its Shanghai and global media relations accounts. Musk did not respond to a Reuters' email seeking comments for the story. Zhu and Song could not be reached for comment.

Under Zhu, Tesla Shanghai rebounded strongly from lockdowns this year to bring Tesla close to its growth target for 2022 of 50 percent production growth. Analysts expect output to fall short at closer to 45 percent, based on forecasts for the just-concluding fourth quarter.

Zhu and others made their first trip to the United States for Tesla this year in August, one of the people said, at a time when the company has some key management roles there unfilled.

Among the projects the Shanghai team have worked on is Tesla's long-delayed Cybertruck, its next new model, a third person said.

Tesla's Austin plant is ramping up production of the Model Y and readying the Cybertruck. The Fremont plant is preparing to launch a new version of the Model 3, which will start production in Shanghai next year, Reuters has reported.

Some Tesla investors and analysts have voiced concerns about Musk's distraction following his acquisition of Twitter in October and the depth of the executive bench at the electric-car company.

Bloomberg reported this month that Zhu was helping to run the Austin plant. However, Zhu's colleagues in Shanghai believe he is in line for a more senior and wider-ranging role at Tesla, the two people said.

A close aide to Zhu in Shanghai circulated a farewell poem for the China boss in recent weeks on social media, anticipating his new assignment, according to the message reviewed by Reuters.

On the road

At the Austin factory, Chinese engineers were seen by people at the plant working in the area reserved for development of the Cybertruck and batteries, a third person with knowledge of operations there said. Tesla has targeted production of the Cybertruck next year.

At Fremont, Calif., Chinese staff have been working on Model Y underbody assemblies, according to another person with knowledge of their work there.

When Tesla posted a picture on Twitter on Friday to celebrate Austin hitting a new production milestone of 3,000 Model Ys in a week -- still less than a third of the weekly output of Shanghai last quarter -- Zhu was shown smiling with hundreds of people on the factory floor.

Zhu, who was born in China but now holds a New Zealand passport, is a no-fuss manager who favors Tesla-branded fleece jackets and lives in a government-subsidized apartment a 10-minute drive from the Shanghai Gigafactory, according to people who work with him and his comments to Chinese media.

When Musk sent a memo in early June warning he had a "super bad feeling" about the economy, Shanghai was on track to end the quarter down 36% from the quarter before because of COVID lockdowns, data released later showed.

With help from Shanghai officials, Zhu restarted operations by asking thousands of workers and suppliers to stay at the factory for more than six weeks.

Zhu himself opted to stay longer, sleeping at the factory as Musk had in 2018 when Fremont was struggling to ramp production, two people with knowledge of the events told Reuters.

Roaring back

Shanghai, a complex that employs some 20,000 workers, came roaring back in the third quarter, with output of the Model Y and Model 3 up over 70 percent on the quarter.

Through September, Shanghai accounted for more than half of Tesla's output.

The plant has excelled in applying cost-saving, factory-floor innovations for Tesla, including the use of massive casting machines to simplify production.

"The manufacturing people who led that push are obvious choices to spread the production gospel into the other new plants," said Sam Fiorani, who tracks production trends Auto Forecast Solutions.

Tesla board member James Murdoch said last month the company had recently identified a potential successor to Musk without naming the person. Murdoch did not immediately respond to a request for comment.

Reuters has no evidence that Zhu is the possible candidate.

"With Elon Musk's attention currently being pulled in a number of directions, finding someone to help guide Tesla is important, especially someone with the manufacturing know-how that Tom Zhu has," Fiorani said.

Some investors are skeptical that Zhu alone could turn things around: "In America, doing business is very, very different than running a factory in China," Ross Gerber, a Tesla investor and CEO of Gerber Kawasaki Wealth and Investment Management said on Twitter Spaces on Tuesday. "So I think Elon needs to be at Tesla."

from Section Page News - Automotive News https://ift.tt/tqiAJgQ

CarMax Q3 retail used-vehicle sales fall 21% as net income plunges 86%

CarMax's net income plunged 86 percent to $37.6 million during the quarter ended Nov. 30. Net revenue fell 24 percent to $6.5 billion, the company said.

from Section Page News - Automotive News https://ift.tt/WiUR6XT

Tesla shares suffer worst year ever - and 2023 looks bad, too

Tesla investors are confronting a new reality after CEO Elon Musk bought Twitter and competition intensifies from established major automakers.

from Section Page News - Automotive News https://ift.tt/PzjhxpD

Tesla dangles $7,500 discount in rare move to boost deliveries

The discount Tesla is dangling on new Model 3 sedans and Model Y crossovers is double what the company was offering earlier this month, and likely has to do with changes to U.S. tax credits that take effect in 2023.

from Section Page News - Automotive News https://ift.tt/so0EhKb

AutoNation, Ken Garff Automotive among dealership buyers in Q3, Q4 deals

Stellantis, Acura, Ford, Kia and Volkswagen dealerships traded hands in four states in third-quarter and fourth-quarter transactions.

from Section Page News - Automotive News https://ift.tt/uAvJk18

Banned, fined Calif. dealer says AG's office wore him down into settling for $1.7 million

Paul Blanco and co-owner Putu Blanco said they were worn down by the state into settling and denied the behavior the court said had been stipulated by Paul Blanco's Good Car Company Auto Group.

from Section Page News - Automotive News https://ift.tt/IRaSDPb

BMW to make Solid Power's battery cells under expanded agreement

BMW intends to duplicate Solid Power's pilot production lines at its own facility in Germany and produce prototype cells based on Solid Power’s proprietary technology.

from Section Page News - Automotive News https://ift.tt/rFKGN0I

Musk will exit as Twitter CEO once he finds 'someone foolish' to take the job

Musk plans to retain control over Twitter’s engineering teams even after a new CEO is appointed.

from Section Page News - Automotive News https://ift.tt/POTYvfE

Remembering those we lost this year

The auto industry lost several of its well-known stars this year, along with influential voices and faces from decades past.

from Section Page News - Automotive News https://ift.tt/YczArZg

Genesis COO Mike Song elevated to brand's global head

Song, who has been with Hyundai Motor Group since 1993, will retain his COO role with the luxury brand.

from Section Page News - Automotive News https://ift.tt/tiG4zRM

Wells Fargo to pay $3.7 billion for mistreating auto, mortgage customers

Wells Fargo has been trying to resolve a raft of scandals that began in 2016 with the revelation that the bank opened millions of bogus accounts.

from Section Page News - Automotive News https://ift.tt/PewdBUR

Acura ZDX electric crossover breaks cover in prototype form

Acura will unveil the ZDX and ZDX Type S electric crossovers next year, which will share many of styling cues shown on the Precision EV Concept. The EV is expected to go on sale in the fall of 2023 as a 2024 model year vehicle.

from Section Page News - Automotive News https://ift.tt/mvCUcYq

NHTSA investigating if Hertz rented unrepaired recalled vehicles

The agency said the issue involved Ford Explorers and Nissan Altimas, but did not disclose the number of vehicles involved. The recall issues involved include latches and locks, NHTSA said.

from Section Page News - Automotive News https://ift.tt/fpXmMHF

VW shuffles top purchasing posts amid supply chain disruption

The changes come after a top executive said the automaker is suffering "flat-out chaos" in the supply chain.

from Section Page News - Automotive News https://ift.tt/hqk7PfX

U.S. Treasury delays EV tax credit guidance until March

Treasury had been required to issue proposed guidance by Dec. 31. The delay impacts some of the rules for EV incentives between Jan. 1 and the time the guidance will be issued next year.

from Section Page News - Automotive News https://ift.tt/9j3RSZo

Cavender Auto Family adds Subaru, Chevy and Buick-GMC dealerships

Cavender Auto Family, in its latest acquisition, added Subaru, Chevy and Buick-GMC dealerships, more than doubling its dealership count in Oklahoma.

from Section Page News - Automotive News https://ift.tt/8OwJMrk

Renesas to restart Beijing chip factory hampered by COVID outbreak

Renesas, the world's top maker of automobile chips, said Monday it was making up for lost output with existing stock and did not expect much of an impact from the brief stoppage.

from Section Page News - Automotive News https://ift.tt/RhGsTDl

Tesla stock rallies on prospect of Elon Musk stepping back as Twitter CEO

Users cast more than 17.5 million votes, and 57.5 percent were in favor of him relinquishing his role as Twitter CEO.

from Section Page News - Automotive News https://ift.tt/BdubU57

The latest numbers on the microchip shortage: Recession would ease crisis

Automakers expect to cut fewer than 3 million vehicles from their production schedules because of the microchip shortage in 2023, a significant improvement from this year.

from Section Page News - Automotive News https://ift.tt/A6Ngpbw

Road rage shooting leaves Cox Automotive employee injured

A Cox Automotive employee was shot Dec. 15 in Alabama. Responding police say the shooting was a result of road rage.

from Section Page News - Automotive News https://ift.tt/t6FKnES

Economy chills investments in EVs and mobility

Caution ahead: Venture capitalists say EV and transportation tech investments face headwinds, more scrutiny

from Section Page News - Automotive News https://ift.tt/zO0YIpN

A Tesla Xmas: Apple Music, Zoom highlight software update

Tesla's annual holiday software update finally brings Apple Music to Tesla infotainment, along with in-car Zoom meetings, an exterior light show and a live camera feed for monitoring four-legged friends.

from Section Page News - Automotive News https://ift.tt/ihQtLbf

Elon Musk restores Twitter accounts of journalists after suspensions draw backlash

The episode is being regarded by critics as fresh evidence of Musk, who considers himself a "free speech absolutist," eliminating speech and users he personally dislikes.

from Section Page News - Automotive News https://ift.tt/vDPHS0q

Stellantis ramps up U.S. captive finance arm

Around 1,600 of the automaker's more than 2,600 U.S. dealerships have begun using the in-house financing arm since its launch just over a year ago.

from Section Page News - Automotive News https://ift.tt/7Tfkyel

Jay Leno recounts ‘horrific' garage accident

The comedian and former NADA Show headliner joked that the worst part was seeing so much expensive gasoline go to waste.

from Section Page News - Automotive News https://ift.tt/ReD4VmP

Volkswagen investors revive governance grumbles even with despite special dividend

Volkswagen shareholders renewed their criticism of CEO Oliver Blume's dual roles on Friday, even as they rubber stamped a roughly 9.6 billion euro ($10.2 billion) special dividend following the Porsche AG listing.

from Section Page News - Automotive News https://ift.tt/C9TxYyE

Ritchie Bros. takeover of ‘inferior' IAA opposed by Luxor

A top Ritchie Bros. shareholder is opposing a takeover of auto salvage and parts auction company IAA Inc., a business it calls "distinctly inferior."

from Section Page News - Automotive News https://ift.tt/xFZ4lvB

Tesla says Texas factory is making 3,000 Model Ys a week

Tesla is building 3,000 Model Y crossovers a week at its new Austin, Texas, factory — a sign the EV maker is making up for lost time.

from Section Page News - Automotive News https://ift.tt/nY26Sot

VW is on a solid footing, CEO Blume says

Oliver Blume said the group was strong after he reshuffled senior roles, defined the automaker's strategy for China and North America, and revised its software and platform strategy.

from Section Page News - Automotive News https://ift.tt/1KJVBXG

Faraday Future targets April for EV deliveries, sees fresh funding

Despite saying it had "substantial doubt" about its ability to continue as a going concern last month, Faraday Future hopes to continue with fresh funding.

from Section Page News - Automotive News https://ift.tt/L9ucmXb

Ex-VW CEO Diess will head Infineon board

Infineon expects to benefit from Diess's experience as a top executive at VW and BMW.

from Section Page News - Automotive News https://ift.tt/bZTmYef

Chevy, Ford, Mitsubishi and Buick-GMC dealerships sell in Q3, Q4 deals

Chevy, Ford, Mitsubishi and Buick-GMC dealerships traded hands in third- and fourth-quarter deals across five states. Lithia Motors was the seller in one deal.

from Section Page News - Automotive News https://ift.tt/2FaKmoX

U.S. opens probe into GM Cruise vehicles' autonomous driving system

U.S. auto safety regulators said they have opened a formal safety probe into the autonomous driving system in vehicles produced by General Motors' robotaxi unit Cruise LLC.

from Section Page News - Automotive News https://ift.tt/8Jv6qRG

Ford hikes price of cheapest F-150 Lightning

Ford Motor Co. has raised the price of the cheapest variant of its F-150 Lightning electric truck 9 percent to $55,974, according to the company's website.

from Section Page News - Automotive News https://ift.tt/0U7qLVR

Jonathan Sobel-led group buys Porsche, Audi, VW dealerships

Jonathan Sobel's group's purchase of Porsche, Audi and Volkswagen dealerships follows a $70 million investment from Franchise Equity Partners in October.

from Section Page News - Automotive News https://ift.tt/QTgPq6v

Tesla searches for water to expand German factory output to 1M

Tesla wants to double the capacity of its plant near Berlin to over a million cars a year, pending approval from local authorities.

from Section Page News - Automotive News https://ift.tt/cI5TWmN

Elon Musk sells $3.6B worth of his stake in Tesla

Elon Musk's sale of almost 22 million Tesla shares for $3.58 billion comes as stock in the company has plunged 55 percent this year on concerns over the CEO's purchase of Twitter.

from Section Page News - Automotive News https://ift.tt/7UtlWCV

1 dead in shooting at Forvia plant near Detroit

A 40-year-old man was transported to a hospital and pronounced dead, police said. A 29-year-old suspect was apprehended at the scene.

from Section Page News - Automotive News https://ift.tt/rlAcDY3

Renamed, reengineered Audi Q8 E-tron gets a big range boost

The renamed Audi Q8 E-tron began salable production Wednesday at its home plant in Brussels. Better engineering and battery construction have boosted the crossover's range up to 600 kilometers under the European testing cycle, Audi says.

from Section Page News - Automotive News https://ift.tt/jTOWr1p

China dealers seek compensation over Stellantis Jeep failure, report says

Stellantis is overhauling its China strategy and has agreed to a bankruptcy petition at a longtime Jeep venture.

from Section Page News - Automotive News https://ift.tt/coPNQBF

Mercedes gears up powertrain network for EVs from 2024

Mercedes' plan will include investing in battery assembly, electric drive units, and axles from 2024.

from Section Page News - Automotive News https://ift.tt/JSjCfLq

VW Group promotes Audi, Porsche execs to top roles

CEO Oliver Blume's latest management changes aim to improve coordination and synergies between the VW, Audi and Porsche brands.

from Section Page News - Automotive News https://ift.tt/mqurfkK

Ellis Automotive founder Jim Ellis dies at 90

Ellis Automotive founder Jim Ellis, a longtime Georgia car dealer, died just weeks after his son, Jimmy Ellis.

from Section Page News - Automotive News https://ift.tt/t5yGZDQ

Mazda's 2024 CX-90 will be brand's 1st plug-in hybrid for U.S.

The CX-90 will be Mazda's first nationally available electrified vehicle. It plays a critical role in moving the brand's image upmarket as it dives deeper into electrification.

from Section Page News - Automotive News https://ift.tt/YdgMs6k

Forvia to lay off 268 near Detroit after moving work to Mexico

The plant supplies seats for the Jeep Wagoneer program at Stellantis' Warren Truck Assembly Plant. Forvia recently changed its name from Faurecia following its acquisition of Hella.

from Section Page News - Automotive News https://ift.tt/V1qbYxr

Guest commentary: Automakers can't afford to keep building EVs that run on lithium ion batteries

As things currently stand, lithium ion battery prices are the biggest obstacle to widespread EV adoption and reduced tailpipe emissions.

from Section Page News - Automotive News https://ift.tt/28htoYa

Autonomous yard truck company Outrider creates robotic way to attach trailer brake and electric lines

The technology relies on software-based algorithms, hardware and sensors that are integrated into the robot arms.

from Section Page News - Automotive News https://ift.tt/rJ4bsPm

Musk’s $5.7 billion mystery gift went to his own charity

The Musk Foundation held $9.4 billion in assets at the end of 2021, according to a tax filing obtained by Bloomberg News. It sent about $160 million to nonprofits last year.

from Section Page News - Automotive News https://ift.tt/RqmQ39y

Asbury sells 9 North Carolina dealerships to Hudson Automotive

It was Asbury's second big batch of divestitures this year.

from Section Page News - Automotive News https://ift.tt/4LGUqmj

Jeep Cherokee plant to be ‘idle, not closed,' Stellantis exec says

News that Belvidere Assembly in Illinois will halt production early next year came a week after state lawmakers approved expanding tax incentives available to retool it for EVs.

from Section Page News - Automotive News https://ift.tt/srFQwbN

Data analytics can help unlock battery bottlenecks

EV battery makers will need to learn to manage data in new ways and consider different business models in order to bring new technologies to market faster, executives said.

from Section Page News - Automotive News https://ift.tt/ySTFsgh

Stellantis to make solar power push at southeast Michigan operations

Stellantis is looking to solar power to help cut its carbon footprint, and has made a clean energy commitment to add 400 megawatts of new solar projects in Michigan.

from Section Page News - Automotive News https://ift.tt/O7rhi8j

Toyota might delay some EV programs, report says

Toyota is expected to outline adjustments to its electric-vehicle strategy to key suppliers early next year.

from Section Page News - Automotive News https://ift.tt/Hwc2XPF

U.S. completes $2.5 billion loan to GM, LG battery joint venture

The U.S. Energy Department said it finalized a $2.5 billion loan to a joint venture of GM and LG Energy Solution to help pay for three new lithium-ion battery cell plants.

from Section Page News - Automotive News https://ift.tt/n1jhRtv

Race for UAW leader heads to runoff

Six newcomers will be sworn in on the 14-member board as several races head to runoffs in January.

from Section Page News - Automotive News https://ift.tt/LYDhoJZ

TV veteran excels at local news coverage

Tom Carl, who has spent nearly 18 years in a TV newsroom in Hartford, Conn., has joined Automotive News as visual operations manager.

from Section Page News - Automotive News https://ift.tt/xks7lvi

Inventory continues to rise, hits 1.61 million

U.S. inventory grew by another 150,000 vehicles last month to reach 1.61 million, giving dealers their best supply of new vehicles all year going into the last few weeks of 2022.

from Section Page News - Automotive News https://ift.tt/0blXknz

Chevy Corvette E-Ray images leak

The configurator for the new Corvette E-Ray briefly appeared online before going dark, CorvetteBlogger.com reported, confirming the long-rumored name.

from Section Page News - Automotive News https://ift.tt/GyTEiIP

U.S. confirms death linked to faulty Takata airbag in 2002 Honda Accord

In a statement Friday, American Honda Motor Co. said the Accord had been under recall since April 2011 for replacement of the original Takata driver's side airbag inflator.

from Section Page News - Automotive News https://ift.tt/0EX1mai

Shift Technologies, CarLotz shareholders approve merger

Shareholders of Shift Technologies and CarLotz approved the merger agreement during a special meeting.

from Section Page News - Automotive News https://ift.tt/VxbXoyT

Mitsubishi, Ford, Nissan and Infiniti dealerships trade hands in Q3, Q4 deals

Three established dealership groups expanded with store acquisitions, while a former used-vehicle store owner bought his first franchised new-car dealership.

from Section Page News - Automotive News https://ift.tt/w0g7fXn

U.S. questions automakers in probe of possible air-bag explosions

U.S. auto safety regulators posed fresh questions to roughly a dozen automakers and parts suppliers in a long-running probe of air-bag inflators that could explode in a crash.

from Section Page News - Automotive News https://ift.tt/Z0GQdVt

Kyrsten Sinema switches to independent, diluting Democratic-led Senate

Her move won't affect the overall control of the Senate next year. She doesn't intend to caucus with the Republicans.

from Section Page News - Automotive News https://ift.tt/fNr82HT

UAW wins vote in U.S. EV battery plant

The UAW won an election at a GM and LG Energy Solution Ltd. electric-car battery plant in Lordstown, Ohio, giving the union its first win in a factory of that kind.

from Section Page News - Automotive News https://ift.tt/43n1h2v

What will a split Congress mean for the auto industry?

The congressional shakeup could diminish the swing-vote influence of dissenting Democrats such as Sen. Joe Manchin, while boosting the profile of members such as Georgia Sen. Raphael Warnock, whose state has landed multibillion-dollar investments from the electric vehicle industry, including from Hyundai and Rivian.

from Section Page News - Automotive News https://ift.tt/ycUZs4q

Recycling EV batteries critical to meeting electrification targets, executives say

Finding ways to effectively recycle electric vehicle batteries will be crucial for the auto industry as it looks to figure out where it will source critical materials in 2030 and beyond.

from Section Page News - Automotive News https://ift.tt/t9HX3L1

Wholesale used-car prices show slight decline in November

Cox Automotive said its Manheim Used Vehicle Value Index fell just 0.3 percent in November from October, following more substantial declines earlier in the autumn season.

from Section Page News - Automotive News https://ift.tt/sMi9Udo

BMW looks into satellite-based Internet service

High cost and limited data transmission capacity can make in-vehicle satellite-based Internet service challenging.

from Section Page News - Automotive News https://ift.tt/x6rMHOG

Rising battery prices threaten affordable EV push

Falling battery prices have helped the auto industry’s move toward electrification and more affordable EVs, but prices now seem to be going in the opposite direction.

from Section Page News - Automotive News https://ift.tt/ujTUV5F

Musk brings Tesla's China chief to Texas to run gigafactory, report says

Tesla has been trying to increase output at its new Texas factory which builds the Model Y SUV.

from Section Page News - Automotive News https://ift.tt/eoVkj6O

Ford CMO Suzy Deering abruptly departs

Deering, who joined Ford in early 2021 from eBay, was among Jim Farley's first hires as CEO. Ford will announce her replacement later.

from Section Page News - Automotive News https://ift.tt/oxOdQHE

Key creditors in pact to avert brawl as Carvana's prospects dim

Some of Carvana largest creditors have signed a pact binding them to act together in negotiations with the company, a move meant to prevent the kind of nasty creditor fights that have complicated other debt restructurings.

from Section Page News - Automotive News https://ift.tt/CS8LR3s

Apple scales back self-driving car, delays debut until 2026

Apple executives are grappling with the reality that the company's vision for a fully autonomous vehicle — without a steering wheel or pedals — is not feasible with current technology.

from Section Page News - Automotive News https://ift.tt/KnCDdM2

UAW presses automakers to move supply chain out of Xinjiang

A new report on Tuesday suggests that nearly every major automaker has significant exposure to products made with forced labor in China's Xinjiang region.

from Section Page News - Automotive News https://ift.tt/yrvxuzc

Toyota names new head of production engineering and manufacturing

Takefumi Shiga, a longtime Toyota executive, will succeed Toshio Niimi as executive vice president for production engineering and manufacturing with Toyota Motor North America, effective Jan. 1.

from Section Page News - Automotive News https://ift.tt/h6Zj7B9

Envision AESC to invest $810 million on U.S. BMW battery plant

Envision AESC's 1.5-million-square-foot battery factory in Florence, S.C., will create 1,170 jobs and build a next-generation lithium ion cell for BMW.

from Section Page News - Automotive News https://ift.tt/2P4JGqh

Honda brand returns to top 5 in dealer attitudes

Honda regains its top-five spot in the latest National Automobile Dealers Association's Dealer Attitude Survey, following an unusual drop to No. 6 in a previous survey.

from Section Page News - Automotive News https://ift.tt/W1tw7QK

EV battery makers face emissions scrutiny, Panasonic unit chief says

Electric vehicles battery makers will need to respond to climate change and sustainability goals by disclosing their carbon footprints and reducing the use of rare metals, according to a senior executive at Panasonic's battery unit.

from Section Page News - Automotive News https://ift.tt/y2Gc0A8

Aurora's Chris Urmson sees self-driving technology shakeout

Aurora CEO Chris Urmson pushes company into autonomous trucking as quickest path to profitability.

from Section Page News - Automotive News https://ift.tt/fEeqG8F

GM, Microsoft execs: Digital groundwork for connected vehicle future is happening now

General Motors' Scott Miller and Sanjay Ravi with Microsoft told Automotive News Congress that the foundations for a vastly changed digital automotive ecosystem are being laid now.

from Section Page News - Automotive News https://ift.tt/T6r2OqQ

All 14 Stellantis brands performing since merger, exec says

"Everybody's got a fighting chance," North American COO Mark Stewart said of the brands brought together by combining FCA and PSA.

from Section Page News - Automotive News https://ift.tt/oh0OxVQ

From a distant corner, a harbinger of good times for the auto industry

Toolmakers are seeing a wave of new business headed their way — a sign automakers are about to get busier.

from Section Page News - Automotive News https://ift.tt/g8ZDSy2

The EV motor's evolution is just beginning

When the auto industry trains its product development guns on a component, that item usually gets smaller, lighter, simpler, more powerful and more efficient. That's what's happening today to the electric motor, which is really just now starting what will likely be a very long journey in the automobile.

from Section Page News - Automotive News https://ift.tt/9wK75Vr

Ford Pro agrees to send 2,000 electric vans to Deutsche Post DHL Group

Ford Pro, the automaker's unit focusing on commercial customers, has signed a memorandum of understanding with Deutsche Post DHL Group to supply the German courier service with 2,000 electric vans.

from Section Page News - Automotive News https://ift.tt/nzJjUSk

The latest numbers on the microchip shortage: A bad December in store

North American auto plants are holding firm on their production schedules this week, but the microchip shortage is still hovering over the year.

from Section Page News - Automotive News https://ift.tt/bSZyzik

Used-car values expected to hold despite price drops

Used-vehicle prices are dropping, but models are likely to hold more value through at least 2025 than they did pre-pandemic, according to experts from J.D. Power and Black Book.

from Section Page News - Automotive News https://ift.tt/hqAmpKH

AutoNation slowly integrates captive CIG

Dealership group AutoNation sees recently acquired CIG Financial as a potential revenue source and strategic asset.

from Section Page News - Automotive News https://ift.tt/wPzSBqR

UAW members send presidential race to runoff, oust 4 incumbent leaders

President Ray Curry will go head-to-head with challenger Shawn Fain after neither got a majority of votes. The union's secretary-treasurer and three regional directors lost outright.

from Section Page News - Automotive News https://ift.tt/3AZeNx9

Elevated value of used vehicles is expected to hold

Used-vehicle prices are dropping, but models are likely to hold more value through at least 2025 than they did pre-pandemic, according to experts from J.D. Power and Black Book.

from Section Page News - Automotive News https://ift.tt/J2bVnif

Group 1 Automotive buys Mercedes-Benz dealership

Group 1 Automotive has acquired a Mercedes-Benz dealership, which it says is its 17th store selling the brand.

from Section Page News - Automotive News https://ift.tt/OXCBURi

SiriusXM hack unlocks, starts cars

Security researchers discovered a flaw in SiriusXM service to remotely operate Honda, Hyundai, Nissan and Toyota models.

from Section Page News - Automotive News https://ift.tt/AG6ZpYH

GM, LG to invest $275M more at Tenn. Ultium plant

The increased investment in the Ultium Cells plant in Spring Hill will add 400 jobs and increase annual production capacity at the battery plant from 35 to 50 gigawatt-hours.

from Section Page News - Automotive News https://ift.tt/EQwWe0Z

SiriusXM breach unlocks, starts cars

Security researchers discovered a flaw in SiriusXM service to remotely operate Honda, Hyundai, Nissan and Toyota models.

from Section Page News - Automotive News https://ift.tt/8mcquQU

McLaren sells historic cars to raise cash for Artura upgrades

McLaren's heritage vehicles include 54 rare Formula 1 racing cars and F1 supercars, according to its 2021 annual report.

from Section Page News - Automotive News https://ift.tt/2MmAIXJ

Rail strike threat averted

The Senate passed legislation to avert a crippling U.S. rail strike on an 80 to 15 vote and sent the measure to President Joe Biden for his signature.

from Section Page News - Automotive News https://ift.tt/PzxWeuY

Fisker says no bank guarantee with partner Magna Steyr

Short-seller Fuzzy Panda Research said Fisker's access to its funds is limited because of undisclosed bank guarantees to protect Magna Steyr, which is building the Fisker Ocean electric SUVs.

from Section Page News - Automotive News https://ift.tt/dDecUWM

Automotive News Leading Women Conference: Purpose and impact

Women inside and outside the auto industry shared ideas on collaboration and innovation for future success.

from Section Page News - Automotive News https://ift.tt/9iC7wmV

Toyota, Hyundai, Kia, Mazda, Subaru U.S. sales surge in November; Honda falls

Volume jumped 10 percent at Toyota, 43 percent at Hyundai and 25 percent at Kia as production and inventory improved. Mazda deliveries surged 31 percent. Honda fell 6.1 percent.

from Section Page News - Automotive News https://ift.tt/3bMNQPv

Toyota, Hyundai, Kia, Mazda U.S. sales surge in November

Volume jumped 10 percent at Toyota, 43 percent at Hyundai and 25 percent at Kia as production and inventory improved. Mazda deliveries surged 31 percent.

from Section Page News - Automotive News https://ift.tt/nY4zoAk

Improved Data Center easier to use, more personalized

Subscribers can use a new dashboard feature to pin specific data points that are relevant to their role in the industry.

from Section Page News - Automotive News https://ift.tt/kLsdOig

Production of world's first solar car begins

The Lightyear 0 can charge up to 70 km (43 miles) of driving range each day using curved solar panels across the hood and roof.

from Section Page News - Automotive News https://ift.tt/jFed1IN

Honda will build a fuel cell CR-V in Ohio

Honda Motor Co. will build a fuel cell electric version of its sixth generation CR-V compact crossover starting in 2024.

In addition to using fuel cell technology, which promises quick refueling and generous range, the vehicle will feature a plug that will enable drivers to charge the onboard battery for electricity-powered trips around town.

The Japanese automaker will produce the vehicles at its Performance Manufacturing Center in Marysville, Ohio. Honda did not say how many CR-V fuel cell vehicles it expects to build, but the facility is used for assembling lower-volume products and specialty performance vehicles such as the hybrid Acura NSX supercar, which ceased production there this month.

Honda, the world's largest maker of gasoline engines, has set an aggressive goal to reach carbon neutrality for its operations and products by 2050, which includes a complete electrification of its vehicle lineup by 2040.

The production of fuel cells in the U.S. will help Honda "further explore their great potential as part of a sustainable transportation future," Gary Robinson, American Honda Motor Co.'s vice president of auto planning and strategy, said in a statement.

The 2024 target date for the CR-V fuel cell coincides with the launch of Honda's first battery-electric vehicle, the Prologue midsize crossover, which will be built in collaboration with General Motors.

In the meantime, Honda will offer hybrid variants of its top-selling CR-V, Accord and Civic to drive down emissions and ready its customers for electrification. While it has debuted the CR-V hybrid, it expects to launch a hybrid Accord in January. The Civic hybrid plan is still forthcoming.

Fuel cell vehicles use a high-pressure hydrogen tank to generate electricity inside fuel cells, which powers the vehicle's electric motor. While the act of refueling is comparable to filling up a gas tank both in time and process, the lack of hydrogen refueling stations has proved challenging for automakers such as Honda and Toyota, which are developing the technology.

The country's hydrogen network has so far been focused on the West Coast, clustered primarily in California. Honda says it has invested $14 million to support the infrastructure in the Golden State, which has forged a pathway for zero-emission vehicles.

Since 2013, Honda has been part of the H2USA private-public partnership with other automakers, hydrogen suppliers and the fuel cell industry to find a cost-effective way to build out an infrastructure that will deliver affordable and clean hydrogen fuel in the U.S.

from Section Page News - Automotive News https://ift.tt/BCQoGRA

GM's Cruise plans to enter 'a large number of markets' in 2023

The planned launch of the Origin, designed as a purpose-built automated vehicle, "is a huge unlock" for Cruise because of its lower cost.

from Section Page News - Automotive News https://ift.tt/tCouYqm

Toyota, Honda owners defecting to rivals for EV options, S&P Global

Early data from S&P Global Mobility suggests consumers moving to EVs this year are leaving Toyota and Honda, which are falling behind in the EV transition. The beneficiaries: Tesla, Ford, Hyundai and Chevrolet.

from Section Page News - Automotive News https://ift.tt/lBSFAkU

GM advertising agency Campbell Ewald names its first female CEO

Kari Shimmel, 41, CE's chief strategy officer since late 2018, will immediately step into the role of CEO, succeeding Kevin Wertz, who is stepping down as CEO but will remain in a consulting role.

from Section Page News - Automotive News https://ift.tt/kcuDWIM

Honda will get new hands-off features mid-decade

The upgraded suite, called Honda Sensing 360, is now being deployed on some models in China. It uses an expanded sensory range around the entire vehicle that eliminates blind spots and enhances collision avoidance.

from Section Page News - Automotive News https://ift.tt/HfQyToU

BYD passes VW as China's top-selling brand in November

The reversal highlights the pressure on legacy brands in the world's largest auto market.

from Section Page News - Automotive News https://ift.tt/Yd8c1Tg

Lordstown Motors starts deliveries on Endurance pickups

Electric vehicle startup Lordstown Motors achieves homologation certification from federal regulators and can begin delivery of trucks to customers

from Section Page News - Automotive News https://ift.tt/3cUmtsJ

Woman dies in crash during test drive outside Florida Nissan dealership

A central Florida woman was killed while participating in a test drive of a 2023 Nissan Rogue from a dealership in Winter Haven, Fla.

from Section Page News - Automotive News https://ift.tt/ab8rnjH

Faraday Future replaces former BMW exec Breitfeld as CEO

Faraday’s directors voted to remove Breitfeld and replace him with Xuefeng Chen, who currently leads the automaker’s China division.

from Section Page News - Automotive News https://ift.tt/JzSeVZC

Stellantis evaluating dealers for chargers, EV sales needs

The automaker is working to ease dealerships into its ambitious EV rollout, but it has no plans to specify the dollar amounts they'll need to invest as GM and Ford have done.

from Section Page News - Automotive News https://ift.tt/v5f9d3Y

U.S. heartland lags in EV sales, but new models should help, S&P Global says

The 22 heartland states have just 16 percent of national EV share. A slew of new electric models and a push to build more EV chargers is likely to spur greater adoption, the report says.

from Section Page News - Automotive News https://ift.tt/OQ7tdSg

Biden asks Congress to force rail deal over union objections

Biden said Monday that lawmakers should “immediately” codify the agreement he helped broker in September between unions and railroads “without any modifications or delay,” after some labor groups voted to reject it.

from Section Page News - Automotive News https://ift.tt/5geTNMS

Who's next? Chinese EVs drive Stellantis' Jeep off the road

Stellantis' factory capacity utilization in China is estimated to fall to 13 percent in 2022 from 43 percent in 2017, LMC says, while other mainstream automakers, including VW, GM, Ford, Mitsubishi and Hyundai, have also seen plant usage decline in the last five years.

from Section Page News - Automotive News https://ift.tt/gn9O6rR

May Mobility names senior Intel executive as COO

Autonomous shuttle developer named Kathy Winter, a veteran self-driving vehicle technology executive at Intel, Delphi and other companies, as COO.

from Section Page News - Automotive News https://ift.tt/9xJdUCL

U.S. heartland lags in EV sales, but new models should help, S&P Global says

The 22 heartland states have just 16 percent of national EV share. A slew of new electric models and a push to build more EV chargers is likely to spur greater adoption, the report says.

from Section Page News - Automotive News https://ift.tt/qMmWcHQ

Tesla readies revamped Model 3 with project 'Highland,' report says

One focus of the redesign codenamed "Highland" is to reduce the number of components and complexity in the interior of the Model 3 while focusing on features that Tesla buyers value.

from Section Page News - Automotive News https://ift.tt/mWxkYGd

Tesla makes automated driving available to North American owners

Tesla is making its controversial driver-assistance system available to customers previously deemed not safe enough behind the wheel to test it out.

from Section Page News - Automotive News https://ift.tt/wkMERcI

VW halts production at China plant amid COVID wave

Protests have erupted in cities across China over the weekend, including Chengdu, as frustrations mount over the government's zero-COVID policy.

from Section Page News - Automotive News https://ift.tt/ozObZX9

The latest numbers on the microchip shortage: N. America, Asia endure more cuts

Any notion that the microchip shortage would be over by now is proving to be wishful forecasting. 

from Section Page News - Automotive News https://ift.tt/JBy8Ste

Column: In defense of picking Joe Manchin, Elon Musk as Automotive News All-Stars

Manchin and Musk have generated their share of controversy, and they won't win any popularity contests in some circles, but there is no denying that the impact each has had on the industry this year has been outsized.

from Section Page News - Automotive News https://ift.tt/sN6HqCE

2022 Automotive News All Stars

In 2022, neither the COVID-19 pandemic nor the global microchip shortage went away, but there are signs that both are abating. Still, the industry continued to face production challenges and inventory shortages. Our 2022 All-Stars persevered, delivering excellent products and services to their customers, introducing innovations that are key to the future of mobility and making other significant contributions to the industry in myriad ways.

from Section Page News - Automotive News https://ift.tt/KctYmqM

October vehicle production tips up about 15%

The month brought an output of 1.32 million light vehicles, per the Automotive News Research & Data Center.

from Section Page News - Automotive News https://ift.tt/aVXuG5b

VinFast ships first EVs to the U.S.

Vietnamese EV maker VinFast said it shipped its first batch of 999 cars to the U.S., capping a five-year bid to develop an auto production hub in the Southeast Asian country for North American and European markets.

from Section Page News - Automotive News https://ift.tt/xgyT3Ow

Column: VW dealers need a pickup, and U.S. executives know it

Volkswagen dealers need a pickup. VW of America executives know it, but nobody's been able to make it happen, and that's tragic.

from Section Page News - Automotive News https://ift.tt/OgrzpcN

Kia America COO: Inflation Reduction Act disrupts EV market

Kia America COO Steve Center believes this summer's Inflation Reduction Act will crimp EV sales to mainstream customers.

from Section Page News - Automotive News https://ift.tt/oWZTgB5

Helfman Maserati hosts party to show off Grecale

Consumers got a chance to look at the new Grecale, enjoy plenty of food and beverages, and mingle with brand ambassadors.

from Section Page News - Automotive News https://ift.tt/Ekq4Oo2

Ford recalls nearly 519,000 Bronco Sports, Escapes in the U.S. over fire risks

Ford said the recall covers 2020-2023 model year Bronco Sport and Escape crossovers with 3 cylinder, 1.5 liter engines, including many also recalled in April.

from Section Page News - Automotive News https://ift.tt/dDUrgwN

TrueCar pilots online credit app in Southern California

New TrueCar program means customers don't have to go to the dealership to complete F&I paperwork and wait for final payment information.

from Section Page News - Automotive News https://ift.tt/jt1Dvku

Why Chevy features a 65-year-old car in its holiday ad

The General Motors brand goes for emotional appeal, rather than the hard sell, in spot that features a woman, her neighbors and a 1957 Chevy Bel Air Nomad.

from Section Page News - Automotive News https://ift.tt/306UPxz

Ford CPO sales gains buck the trend

Dealers participating in the Ford Blue Advantage program are experiencing double-digit gains at a time when sales of certified pre-owned vehicles nationwide are on pace to decline from 2021 levels.

from Section Page News - Automotive News https://ift.tt/yX7GlcD

Ford E-Tourneo Custom electric van targets VW ID Buzz

As well as a full-electric variant, Ford will offer the new Tourneo Custom as a plug-in hybrid and with three diesel powertrains.

from Section Page News - Automotive News https://ift.tt/bPxs19O

Has Tesla's stock slump gone too far?

After losing nearly $300 billion in market value in two months, a growing chorus of Tesla analysts say the share-price decline has gone far enough.

from Section Page News - Automotive News https://ift.tt/hDOAeC1

FBI joining Continental cyberattack inquiry

A theft of company data in August reportedly included budget, investment and strategy plans, as well as information related to some Continental customers.

from Section Page News - Automotive News https://ift.tt/yaQwVq1

Venture capitalists on auto, mobility tech startups

Auto and mobility tech startups are phenomenal at innovating but terrible at scaling up their operations, according to one venture capitalist.

from Section Page News - Automotive News https://ift.tt/FO4W5S6

LG Chem to invest $3.2B to build battery cathode plant in Tenn.

LG Chem is expected to supply cathode materials to Ultium Cells, a battery joint venture between General Motors and LG Chem's subsidiary LG Energy Solution.

from Section Page News - Automotive News https://ift.tt/Yi9BRQ5

Mazda will invest $11B into electrification in catch-up plan

The plan could include EV production in the U.S. as early as 2026-2027. The automaker also will partner with Envision AESC Group, a Chinese-owned battery maker.

from Section Page News - Automotive News https://ift.tt/MNdXTuK

Mazda to plow $11B into electrification catch-up plan

The plan could include EV production in the U.S. as early as 2026-2027. The automaker also will partner with Envision AESC Group, a Chinese-owned battery maker.

from Section Page News - Automotive News https://ift.tt/rCdE32D

Largest U.S. rail labor union votes against contract, raising strike risk

A rail traffic stoppage could freeze almost 30 percent of U.S. cargo shipments by weight, stoke inflation and cost the American economy as much as $2 billion per day.

from Section Page News - Automotive News https://ift.tt/Uw03Lj7

Lithia Motors buys Stellantis dealership, sells Acura store

Lithia Motors' buy-sell activity continued in November with the purchase of a Chrysler-Dodge-Jeep-Ram dealership and the sale of an Acura store.

from Section Page News - Automotive News https://ift.tt/zWg0V2v

See Mercedes’ 'Avatar' ad as hype begins for blockbuster movie sequel

 The automaker latches on to the film’s progressive themes in bid to boost green creds.

 

from Section Page News - Automotive News https://ift.tt/hwWx5lP

Some Rivian workers complain about safety as UAW attempts to organize plant

The dozen workers filed their complaints in coordination with the UAW, which has been trying to organize Rivian's plant in Normal, Ill., over the past year. The UAW shared the filings with Bloomberg News.

from Section Page News - Automotive News https://ift.tt/v0LrbIF

Reimagined fifth-gen Prius foreshadows new era of EV fighters

Toyota executives promise that coming advances in batteries, electric motors, semiconductors and carbon-neutral fuels will give hybrid vehicles an extended lease on life through 2050.

from Section Page News - Automotive News https://ift.tt/vCFSPHL

Car lot thefts escalate to chaos

One of the thieves died after crashing a stolen Ford Mustang, and police feared other armed suspects were hiding on a Michigan university campus.

from Section Page News - Automotive News https://ift.tt/scoDHTn

Dealer group speaks EV buyers’ language

Salespeople at Del Grande Dealer Group's stores are learning the ins and outs of electric vehicles to tap into the California group's EV inventory.

from Section Page News - Automotive News https://ift.tt/3kqz6OX

Innovation, new business models take center stage at Automotive News L.A. Congress

The Automotive News Los Angeles Congress featured keynote speakers Jose Muñoz, global president and COO of Hyundai Motor Co. and Peter Rawlinson, CEO of Lucid Motors.

from Section Page News - Automotive News https://ift.tt/BTbhwl3

Automotive supplier trade association condenses into two groups

The Motor & Equipment Manufacturers Association, which represents original equipment and aftermarket auto suppliers in the U.S., said the new brand and organizational structure will launch in January.

from Section Page News - Automotive News https://ift.tt/ftxD0ls

Jaguar Land Rover to recruit fired Twitter, Facebook workers

Jaguar Land Rover wants to hire about 800 workers to boost its capabilities in autonomous driving, artificial intelligence, electrification and cloud software.

from Section Page News - Automotive News https://ift.tt/QznqpD3

Tesla recalls about 30,000 Model Xs

Tesla has recalled nearly 30,000 Model X cars over an issue that might cause the front passenger air bag to deploy incorrectly.

from Section Page News - Automotive News https://ift.tt/7uvMdaJ

Tokyo show to be revamped as mobility event

Organizers hope the Tokyo auto show will reboot international interest in Asia’s one-time premier auto event and in Japan as a technology leader.

from Section Page News - Automotive News https://ift.tt/kzZMhqT

Carvana CEO reflects on tough 2022: 'We're not a perfect company'

Carvana’s tumultuous journey in 2022 highlighted by mounting financial losses and a more challenging used-car market is being closely watched. CEO Ernie Garcia is prepared to get the company back on track.

from Section Page News - Automotive News https://ift.tt/HUkOR73

VinFast says four EV models coming to U.S.

The automaker is presenting two new crossovers at the L.A. auto show in addition to the midsize VF 8 and VF 9 models that have been open for pre-orders since early this year.

from Section Page News - Automotive News https://ift.tt/yRaXs6n

2024 Kia Seltos gets rugged styling, more power

Kia's freshened 2024 Seltos subcompact crossover gets sharper styling, a new X-Line trim and more power from its turbo engine.

from Section Page News - Automotive News https://ift.tt/hWeV9yz

How Bollore's plans for Jaguar Land Rover were derailed by chip crisis

Jaguar Land Rover CEO Thierry Bollore was starting to see results after key changes in his two-year tenure, but difficulties in securing chip deals hit production and profits.

from Section Page News - Automotive News https://ift.tt/B3FHYD1

Toyota bZ Compact SUV Concept would slot below bZ4X in EV lineup

The Toyota bZ Compact SUV Concept, which debuted ahead of the Los Angeles Auto Show, is roughly the size of the Toyota Corolla Cross. A production version would likely be called the bZ3X.

from Section Page News - Automotive News https://ift.tt/uQyD7ZT

Toyota bZ Compact SUV Concept would slot below bZ4X in EV lineup

The Toyota bZ Compact SUV Concept, which debuted ahead of the Los Angeles Auto Show, is roughly the size of the Toyota Corolla Cross. A production version would likely be called the bZ3X.

from Section Page News - Automotive News https://ift.tt/Vx10Ey9

Father of the Prius still has his hand in Toyota's hybrid strategy

The father of Toyota's Prius 25 years ago, chief engineer Takeshi Uchiyamada, is now chairman of the company. And he's still helping to reshape the car.

from Section Page News - Automotive News https://ift.tt/FlMDxTX

St. Louis Mercedes-Benz dealership ordered to pay $1.8 million in workplace discrimination suit

Two women were awarded $1.8 million Friday after claiming they faced discrimination while working at Mercedes-Benz of St. Louis in Missouri.

from Section Page News - Automotive News https://ift.tt/8FWs71R

Ford begins building its first new auto plant in 53 years. Not everyone is happy

BlueOval City in rural Tennessee is a linchpin in CEO Jim Farley’s $50 billion plan to build 2 million battery-powered automobiles a year by the end of 2026.

from Section Page News - Automotive News https://ift.tt/kE7cYqS

Ford F-150 Lightning shows narrowing lead as most popular electric pickup for second year

The Lightning topped its competitors overall, ranking especially high among truck owners, current EV owners and those age 42 and up. The Toyota Tacoma EV also showed desirable results.

from Section Page News - Automotive News https://ift.tt/eHfdj6U

Disney names Hyundai 100th anniversary sponsor as car brand preps global ad blitz

Hyundai is planning "a year’s worth" of campaigns connected to the 2023 Disney milestone.

from Section Page News - Automotive News https://ift.tt/VUHXbKg

FTC extends Safeguards Rule deadline by six months

The National Automobile Dealers Association and American Financial Services Association had petitioned the FTC to add another year to the original Dec. 9, 2022, Safeguards Rule deadline.

from Section Page News - Automotive News https://ift.tt/HcNbQ8L

2 more fatal crashes involving Tesla vehicles reported in NHTSA data

NHTSA has received reports of 18 fatal crashes involving vehicles equipped with advanced driver-assistance systems since it began forcing automakers, suppliers and tech companies to disclose the data last year.

from Section Page News - Automotive News https://ift.tt/6XiYSr0

Collision warning, emergency braking cut rear-end crashes in half, study finds

The study comes as automakers add more advanced driver-assistance features to their vehicles and as NHTSA collects data on crashes linked to those technologies.

from Section Page News - Automotive News https://ift.tt/HUhW1lk

Jay Leno suffers burns in car fire in his L.A. garage

The left side of former "The Tonight Show" host's face was burned, but Leno's eye and ear were not severely damaged.

from Section Page News - Automotive News https://ift.tt/inEcRg3

Collision warning, emergency braking cut rear-end crashes in half, study finds

The study comes as automakers add more advanced driver-assistance features to their vehicles and as NHTSA collects data on crashes linked to those technologies.

from Section Page News - Automotive News https://ift.tt/6ywVhDa

Automatic braking tech reduces rear-end crashes in pickups, study finds

The rear-end crash rate was 43 percent lower for pickups equipped with the technology than for those without it, according to a study from the Insurance Institute for Highway Safety.

from Section Page News - Automotive News https://ift.tt/SsJACR4

Supplier to close plant, lay off 244 in Michigan

The layoffs are the latest for a manufacturing sector that has been hit hard by inflation and supply chain troubles over the past two years.

from Section Page News - Automotive News https://ift.tt/x061ial

FTC refunds over $9.8 million in Napleton Automotive discrimination case

The Federal Trade Commission is distributing 66,355 checks, averaging $147 each, to car buyers whom the agency says were affected by unlawful practices at Napleton Automotive Group dealerships.

from Section Page News - Automotive News https://ift.tt/hj5D6HV

Toyota, General Motors top Rainbow PUSH diversity scorecard

No automakers received the lowest, red rating for their diversity and inclusion efforts this year. Toyota and GM got the highest possible score in five out of six categories.

from Section Page News - Automotive News https://ift.tt/ZXQ91Fc

GM’s EVs will be profitable in 2025, Barra to tell investors

Executives also plan to detail GM’s push to go from selling just about 44,000 EVs this year in the U.S. -- at a loss -- to profitably becoming one of the nation’s biggest EV producers.

from Section Page News - Automotive News https://ift.tt/KjSfd7A

Toyota to unveil 5th generation Prius hybrid

Toyota is expected to increase the visual appeal of the Prius, which became a trailblazer for the fuel-saving properties of electrified drivetrains.

from Section Page News - Automotive News https://ift.tt/po0BqFR

GM to extend benefits to domestic partners and their kids

General Motors says it's extending its benefits program as it seeks "ways to widen opportunities for people from all backgrounds."

from Section Page News - Automotive News https://ift.tt/f5jtEUq

Off-road 911 Dakar will rough it in L.A.

Porsche will unwrap the 911 Dakar on Nov. 16 in Los Angeles ahead of the auto show there.

from Section Page News - Automotive News https://ift.tt/4hRgTne

New NAMAD President Hugene Fields brings outsider's perspective to auto retail

Hugene Fields, who has extensive nonprofit experience, takes his first foray in the automotive world as the new president of the National Association of Minority Automobile Dealers.

from Section Page News - Automotive News https://ift.tt/6NkMyAt

Safford purchase of 16 Brown dealerships biggest in 2022

Safford Automotive more than doubled when it acquired Brown Automotive Group. It's the biggest acquisition tracked so far by this year in terms of the number of new-vehicle dealerships trading hands.

from Section Page News - Automotive News https://ift.tt/mnJwKVo

Audi E-tron reinvented as Q8 E-tron with more range

Audi's original dedicated electric vehicle, the E-tron, is getting a reboot for 2023 that includes updated styling, more range and a new name: the Q8 E-tron 55 and Q8 E-tron Sportback.

from Section Page News - Automotive News https://ift.tt/eHvTD5G

Ford-Lincoln, Nissan, Stellantis and Chevy dealerships acquired in Q3 deals

Ford-Lincoln, Nissan, Chrysler-Dodge-Jeep-Ram and Chevy dealerships traded hands in third-quarter transactions across three states.

from Section Page News - Automotive News https://ift.tt/QSBtCWi

Polestar Q3 loss narrows, expects hit from rising costs

Polestar posted an operating loss of $196.4 million, down from $292.9 million a year ago, while revenue rose to $435.4 million from $212.9 million.

from Section Page News - Automotive News https://ift.tt/uJaoUSQ

EU envoy 'hopeful' about getting changes to U.S. EV tax rules

Shutting out European producers from the U.S. market would be "a guarantee of failure" for both economies, European Union Ambassador Stavros Lambrinidis said.

from Section Page News - Automotive News https://ift.tt/nWHKksv

Two Pennsylvania Carvana locations suspended from performing title, registration actions

Pennsylvania regulators have placed two Carvana locations on a list of business entities temporarily blocked from performing motor vehicle titling and registrations.

from Section Page News - Automotive News https://ift.tt/gH35DNt

Automakers and suppliers are spending to break through a 'chemical plateau'

Automakers and battery suppliers are in search of a holy grail — a battery chemistry for electric vehicles that sharply reduces charging times and greatly increases range while remaining cheap and easy to produce on a mass scale.

from Section Page News - Automotive News https://ift.tt/vX19BUf

Autonomous vehicle survivors on edge

Money poured into startups during bubbly days before and during the pandemic but many of those investments aren't panning out.

from Section Page News - Automotive News https://ift.tt/2H5tPzY

Germany blocks Chinese stake in 2 chipmakers over security concerns

The move comes at a time of heightened sensitivity around relations between Berlin and Beijing.

from Section Page News - Automotive News https://ift.tt/bXUJm95

Mazda grapples with tight labor at U.S. plant as it struggles to ramp up CX-50

Mazda hopes to add a second shift to its new Alabama plant as it struggles with staffing amid low unemployment in the U.S. state, where it makes the CX-50.

from Section Page News - Automotive News https://ift.tt/tud1oLn

EV registrations in U.S. up 57% through September as Tesla rivals turn up pressure

Legacy automakers and non-Tesla startups saw a 71% surge in EV registrations through September. Tesla vehicles, meanwhile, rose 50 percent during the period, according to data from Experian Automotive.

from Section Page News - Automotive News https://ift.tt/ePJYlGF

Rivian posts $1.7 billion Q3 net loss as revenues lag, costs rise

Supply chain disruptions have pressured Rivian, forcing the company earlier this year to cut production forecast by half to 25,000 units. The electric-vehicle maker delivered 7,363 vehicles, up from 4,467 units in the prior quarter.

from Section Page News - Automotive News https://ift.tt/ez7B0h8

Dealer Jimmy Ellis dies at 67

Jimmy Ellis, CEO of Jim Ellis Automotive Group in Georgia, had run the family-owned company since 2015. He died Nov. 5.

from Section Page News - Automotive News https://ift.tt/2MK3hRi

Nissan quarterly profit soars on better pricing power, model mix

Nissan is capturing a higher tier of customer in North America, partly through renewed product and lower incentives, COO Ashwani Gupta said.

from Section Page News - Automotive News https://ift.tt/3TVcFgJ

Stock price-induced impairment charge leads to TrueCar net loss of $77.1 million

Vehicle listings company TrueCar reported a loss of $77.1 million for the third quarter — a drop from a much slimmer loss in the same period a year ago .

from Section Page News - Automotive News https://ift.tt/ldrUsnB

Lucid reports Q3 net loss of $670 million, reiterates 2022 production target

The EV startup posted revenue of $196 million on sales of 1,398 vehicles in the quarter and said it's on track to produce 6,000 to 7,000 units of its Air sedan this year.

from Section Page News - Automotive News https://ift.tt/VQZxALv

Fuccillo Automotive sells Chevy, Toyota and Hyundai dealerships

Fuccillo Automotive Group in October sold Chevy, Toyota and Hyundai dealerships to Maguire Family of Dealerships.

from Section Page News - Automotive News https://ift.tt/4Timz6k

Rivian under pressure to boost output, maintain demand amid cooling economy

Rivian Automotive reports Q3 earnings on Wednesday amid questions over its ability to meet production targets and maintain demand in slowing economy

from Section Page News - Automotive News https://ift.tt/s2WNFlY

Stock price-induced impairment charge leads to TrueCar net loss of $77.1 million

Vehicle listings company TrueCar reported a loss of $77.1 million for the third quarter — a drop from a much slimmer loss in the same period a year ago .

from Section Page News - Automotive News https://ift.tt/Mi3DmHL

Japan petitions U.S. for special consideration with EV tax credits

Japan requests "flexible" thinking for new U.S. EV tax credits. If not, it also warned Japanese carmakers and suppliers would be discouraged from expanding operations in the U.S.

from Section Page News - Automotive News https://ift.tt/lk3hEv4

Renault, Google expand pact to make cars 'like mobile phones'

Renault's expansion of the partnership with Google will allow the automaker to offer more over-the-air software updates as well as additional on-demand services.

from Section Page News - Automotive News https://ift.tt/IAsW9mw

Carvana shares plunge to record low as used-car prices fall fast

Shares of the auto retailer have sunk more than 53 percent in the two trading days since the company reported disappointing third-quarter results last week.

from Section Page News - Automotive News https://ift.tt/dg6aNWb

BMW relocates California Designworks Studio, dowsizes footprint

The news comes as the innovation office for the automotive group celebrates the 50-year mark since Chuck Pelly founded it as DesignworksUSA in 1972.

from Section Page News - Automotive News https://ift.tt/dMP8Qo2

BMW opens new Designworks studio in California

The news comes as the innovation office for the automotive group celebrates the 50-year mark since Chuck Pelly founded it as DesignworksUSA in 1972.

from Section Page News - Automotive News https://ift.tt/OqFPSjw

Ford and Toyota are opposing their suppliers over EV tax credit

As automakers call on the U.S. government to rethink a plan to limit tax credits for electric vehicles, they're facing opposition from an unexpected source: their own suppliers.

from Section Page News - Automotive News https://ift.tt/dBJsXkW

Can hydrogen deliver a new way to decarbonize?

For decades, hydrogen has been hyped as near-miracle fuel that emits only water. Thanks to climate change and geopolitical instability, its moment in the spotlight may have just arrived.

from Section Page News - Automotive News https://ift.tt/LOlm7PM

Adient expects stronger 2023 after $2.2 billion sales hit this year

Automotive seating suppier Adient increased sales and earnings durings its fiscal fourth quarter despite headwinds that cost the automotive supplier $2.2 billion in revenue for the year.

The seating and interiors supplier said quarterly sales surged 32 percent from last year and it more than doubled its earnings, according to its earnings report Friday.

The Plymouth, Mich.-based company, which is domiciled in Ireland, reported adjusted earnings of $227 million on $3.7 billion of revenue in the fourth quarter.

Full year revenue was up 3 percent from last year to $14.1 billion, while gross profit slipped 2 percent to $807 million.

Adient shares rose 14.2 percent to close at $37.96 on Friday.

"Our business is performing extremely well right now," CEO Doug Del Grosso said on a call with investors. "We've addressed a lot of the issues that plagued the business not that long ago. This business is about execution every single day so we have to continue to perform the way we've been performing."

Adient, which has struggled with operations in the past, said Friday that it has approved a $600 million share repurchase program made possible by its "strong operational performance, transformed balance sheet and confidence in achieving its long-term plan."

As with other automotive companies, supply chain headwinds, including inflation and car production volatility, continue to hurt Adient's balance sheet, its executives said. Those factors accounted for a $2.2 billion revenue loss and $600 million EBITDA loss for the year.

CFO Jeff Stafeil, who is leaving Adient for a job at Tenneco Inc. at the end of the month, said Adient expects to recover two-third of its losses through improved production next year.

"The temporary operating inefficiencies, we've already started to see some improvements there as the supply chains have become a little better," he said. "I would say certainly not to full level, but we've seen a little bit of green shoots in there, and we would expect that to continue to improve."

The company said it made nearly $1 billion of debt paydown in the year and expects increased earnings, margin and free cash flow in fiscal year 2023.

Meanwhile, negotiations with customers on contracts and cost pass-throughs remain ongoing, Stafeil said.

"If we're going to have that type of inflation in our type of business model, some of that is going to have to be covered by the customer," he said. "We've had great progress on that …"

from Section Page News - Automotive News https://ift.tt/mpOUYV5

Lucid sues Texas in attempt to overturn franchise laws

EV startup calls state regulations "economic protectionism" in U.S. lawsuit.

from Section Page News - Automotive News https://ift.tt/6nwexCK

October sales up with higher inventory

Sales increased even as climbing interest rates and surging new-vehicle prices continue to threaten affordability.

from Section Page News - Automotive News https://ift.tt/otsJqxi

Carlos Ghosn's escape helpers sent back to U.S.

Michael Taylor, a former U.S. Green Beret, and his son were imprisoned last year after they pleaded guilty to helping the auto industry executive flee from his trial in Japan in late 2019.

from Section Page News - Automotive News https://ift.tt/7QwYFLW

Tesla partners with N.M. tribes to bypass sales ban

The EV maker has one store in the state and began construction of a second, much larger location last month.

from Section Page News - Automotive News https://ift.tt/6kpdgFe

Land Rover dealer Larry Zinn builds loyalty with off-roading fun

Each year, Miami land Rover dealer Larry Zinn's two stores hold an off-road driving event called Rover on The Rocks, where customers learn how to drive over rugged terrain using Rover's advanced electronic features.

from Section Page News - Automotive News https://ift.tt/bioCBj8

Tesla developing 'unique' EV operation near Detroit

Southfield official: "It's not going to be your grandfather's bump shop because of the sophistication of the chips and software. This is unique."

from Section Page News - Automotive News https://ift.tt/MjaCxEP

Longtime GM supplier American Axle says it is not for sale

While denying talk of a sale, American Axle said it is considering "strategic opportunities that serve the best interest of the company."

from Section Page News - Automotive News https://ift.tt/Z65DQhE

Magna rebuilds profits in Q3, posts $289M in net income

Magna lowered its annual sales forecast as supply chain snags and higher utility costs keep global vehicle production under pressure.

from Section Page News - Automotive News https://ift.tt/BDdw3mH

Nissan may ditch Renault deal over sharing technology with Geely

Nissan CEO Makoto Uchida said he was talking to Renault CEO Luca de Meo every weekend as part of discussions between the two automakers that would be "ongoing."

from Section Page News - Automotive News https://ift.tt/Q745Fsk

Carvana Q3 net loss widens to $508 million

Carvana revenues fell 3 percent to $3.4 billion for the quarter. The retailer sold 102,570 cars and trucks in the third quarter, down 8 percent.

from Section Page News - Automotive News https://ift.tt/4AmLDhU

Musk's $55 billion Tesla pay package tainted by conflicts of interest, investor claims

Musk, the world’s richest person and Tesla’s largest shareholder, must face a Delaware judge at a Nov. 14 trial over the claim by investor Richard Tornetta, who claims the billionaire engineered the windfall pay deal by pushing it through a “supine board.”

from Section Page News - Automotive News https://ift.tt/AhQgFVk

Chinese tycoon spent 8 years, $3 billion on EV that hasn't been built

EV maker Faraday Future once called itself the next Tesla but has yet to produce a vehicle.

from Section Page News - Automotive News https://ift.tt/CGn6MQw

Guest commentary: Autonomous vehicle tech is hard, but it's here to stay

The demise of Argo AI is the latest high-profile stumble in the AV space, but the technology is still young and remains promising.

from Section Page News - Automotive News https://ift.tt/mnKx4y0

EV contenders differ on automated driving

Tesla CEO Elon Musk expects self-driving cars by 2024 or sooner, but Rivian and Lucid aren't ready to remove driver controls like steering wheels and pedals just yet.

from Section Page News - Automotive News https://ift.tt/UQr84FD

EV contenders differ on automated driving

Tesla CEO Elon Musk expects self-driving cars by 2024 or sooner, but Rivian and Lucid aren't ready to remove driver controls like steering wheels and pedals just yet.

from Section Page News - Automotive News https://ift.tt/6xHlR8z

2023 Ford Transit Trail aims for RV crowd

The van, available this spring, will be highly customizable and start at $67,770, including shipping.

from Section Page News - Automotive News https://ift.tt/haZp49U

Stellantis Q3 sales up 29% as better chip supplies lift shipments

Stellantis confirmed its forecast for a double-digit margin on adjusted operating profit and positive industrial free cash flow this year.

from Section Page News - Automotive News https://ift.tt/iHgDhvx

KAR Global CFO to retire; 300 jobs being cut in N.A.

KAR reported higher year-over-year revenue, more profits per each vehicle sold and a net profit from its continuing operations in the quarter that ended Sept. 30

from Section Page News - Automotive News https://ift.tt/0pVRxSs

KAR Global CFO to retire; Q3 net loss of $5.8M reported

KAR reported higher year-over-year revenue, more profits per each vehicle sold and a net profit from its continuing operations in the quarter that ended Sept. 30

from Section Page News - Automotive News https://ift.tt/84iBkW2

Ford's quality chief, Lincoln president to retire

Stuart Rowley and Joy Falotico will retire Dec. 1, while Steven Armstrong, vice president of India and South America transformation, is leaving Jan. 1.

from Section Page News - Automotive News https://ift.tt/ymDQO2r

Subaru struggles to compete with McDonald's on wages as automaker shies away from U.S. EV investments

Subaru says soaring labor costs are one reason the company is not thinking of new investments to build EVs in the U.S. anytime soon. Subaru said its third-quarter net income nearly doubled to $350.2 million.

from Section Page News - Automotive News https://ift.tt/DfYzJh6

Tesla closes its first showroom in China

EV maker Tesla has closed what had been its flagship showroom in China as the company adjusts its sales and service strategy in its second-largest market.

from Section Page News - Automotive News https://ift.tt/Gij7oRK

Subaru struggles to compete with McDonald's on wages as U.S. inflation bites

Subaru says soaring U.S. labor costs are one reason the company is not thinking of new investments to build electric vehicles Stateside anytime soon.

from Section Page News - Automotive News https://ift.tt/2YskSz8

Lear Q3 sales, profits soar on car production improvement

Lear's net income increased 440% from a year ago to $92 million in the third quarter, while sales rose 23 percent to $5.2 billion.

from Section Page News - Automotive News https://ift.tt/4URdJwg

Hyundai recalls Santa Fe Sport crossovers due to risk of short circuit, fire

Hyundai is recalling 44,396 Santa Fe Sport crossovers and recommending owners park their vehicle outside after discovering a defect that could cause a short circuit and possible fire.

from Section Page News - Automotive News https://ift.tt/Z5xqI6o

Toyota eyes U.S., European price increases as costs eat into profits

Toyota warns of looming price increases, saying they are needed to offset surging input costs that drove the automaker's North American business to an operating loss in the latest quarter. The big question is how much of an increase customers will be willing to bear.

from Section Page News - Automotive News https://ift.tt/T5ZB23p

Tesla sends shanghai workers to California

Tesla is sending engineers and production staff from its Shanghai factory to its plant in Fremont, California, in a bid to boost production at the U.S. facility.

from Section Page News - Automotive News https://ift.tt/k7txNnZ

TuSimple fires CEO over ties to Chinese firm; exec denies wrongdoing

The self-driving trucking startup said an investigation by its board showed some of its employees spent paid hours last year working for Hydron, a startup working on autonomous trucks mostly in China.

from Section Page News - Automotive News https://ift.tt/iOySPWp

Toyota eyes U.S., European price increases as costs eat into profits

Toyota warns of looming price increases, saying they are needed to offset surging input costs that drove the automaker's North American business to an operating loss in the latest quarter. The big question is how much of an increase customers will be willing to bear.

from Section Page News - Automotive News https://ift.tt/wvGbRuO

Increased vehicle production not enough to put Gentex Q3 in black

Automotive mirror supplier Gentex said Friday that supply chain challenges led to lower third-quarter profits, but also touted a sales increase compared with 2021.

from Section Page News - Automotive News https://ift.tt/FPuwJ6K

Toyota eyes U.S., European price increases to offset higher costs, slumping profits

Toyota warns of looming price increases, saying they are needed to offset surging input costs that drove the automaker's North American business to an operating loss in the latest quarter. The big question is how much of an increase customers will be willing to bear.

from Section Page News - Automotive News https://ift.tt/v2nJkzN

Chevrolet dealership employee accused of giving herself unauthorized bonuses

Ariel Rutenbeck, 32, was charged with grand theft for allegedly altering Dimmitt Chevrolet's payroll, giving herself $28,000 in unauthorized bonuses.

from Section Page News - Automotive News https://ift.tt/I1SzjVF

Parks Automotive Group buys Acura, Audi and BMW dealerships

Parks Automotive Group in September bought three luxury dealerships as it entered a new market.

from Section Page News - Automotive News https://ift.tt/MkdgWKN

Stellantis offering buyouts

Stellantis said it has offered voluntary buyouts to some of its 13,000 U.S. salaried employees.

from Section Page News - Automotive News https://ift.tt/Kyj86p9

Increased vehicle production not enough to put Gentex Q3 in black

Automotive mirror supplier Gentex said Friday that supply chain challenges led to lower third-quarter profits, but also touted a sales increase compared with 2021.

from Section Page News - Automotive News https://ift.tt/N3KHtsj

Mazda finally ready to unveil new midterm plan, tweak EV strategy

Mazda's updated mid-term plan comes as the automaker races to recoup lost production from earlier in the year and tilts output toward higher-margin crossovers for the key U.S. market.

from Section Page News - Automotive News https://ift.tt/uhYs4o2

‘Great reassessment' will require car dealers to rethink recruiting strategies

Adam Robinson, CEO of Hireology, said job seekers are most looking for schedule flexibility, career growth opportunities and fulfilling work.

from Section Page News - Automotive News https://ift.tt/SQ3l8zR

Silicon EV battery tech gets $250 million in DOE grants

The Department of Energy grants are designed to help spur innovation in developing silicon-based battery technology for electric vehicles.

from Section Page News - Automotive News https://ift.tt/c80OqSU

A GM jolt: Ukrainian embassy goes electric

The automaker donated a Chevy Bolt to the country's embassy in Washington as its latest contribution to help since the country has been under attack by Russia.

from Section Page News - Automotive News https://ift.tt/Ny6lQtW

A GM jolt: Ukrainian embassy goes electric

The automaker donated a Chevy Bolt to the country's embassy in Washington as its latest contribution to help since the country has been under attack by Russia.

from Section Page News - Automotive News https://ift.tt/8SGJvxe

Derek Jeter steps up to the plate in 2023 Jeep Grand Wagoneer ad campaign

"Eyes Wide Open" is a multiyear, multiplatform campaign featuring retired New York Yankees shortstop Derek Jeter and his wife, Hannah, touting the attributes of the Jeep Grand Wagoneer large SUV. The first one-minute commercial will air tonight during Game 1 of the World Series.

from Section Page News - Automotive News https://ift.tt/FcUTw2l

GM halts paid advertising on Twitter

GM said late Friday it had temporarily halted paid advertising on Twitter after Elon Musk completed his takeover.

from Section Page News - Automotive News https://ift.tt/m9cqz8w

Argo AI to lay off 173 in Michigan as autonomous car startup folds

Argo AI Inc. will lay off 173 employees in Michigan after its main backers Ford Motor Co. and Volkswagen decided to pull the plug on the autonomous vehicle technology startup.

The Pittsburgh-based company will make the job cuts in waves starting Tuesday, according to a notice to the state. Operations will cease by the end of the year.

An unspecified number of employees "may be offered employment with a new company," the WARN notice said.

Ford CEO Jim Farley said Wednesday during a call with investors that the automaker plans to hire "a couple hundred" employees from Argo AI. VW said previously it working with Argo AI to find opportunities for its employees.

Ford declined to provide more information Friday.

Employees expected to be transferred to a different company will have the option to remain on Argo's payroll until Dec. 31, the notice said. Another group will also assist in winding down operations.

"Many of the employees will receive an opportunity to continue work on automated driving technology with either Ford or Volkswagen, while employment for others will unfortunately come to an end," Argo said in a statement.

Argo AI, founded in 2016 by Michigan natives Bryan Salesky and Peter Rander, quickly became one of the most promising companies in the AV space. In 2017, Ford made a five-year, $1 billion investment in the company.

"We are incredibly grateful for the dedication of the Argo AI team, and so proud of our achievements together," Salesky and Rander said in a statement. "The team consistently delivered above and beyond, and we expect to see success for everyone in whatever comes next, including the opportunities presented by Ford and VW to continue their work on automated driving technology."

Ford and VW pulling their support, and Argo's inability to attract new investors, doomed the company and casts a shadow on the future of self-driving cars.

"Profitable, fully autonomous vehicles at scale are a long way off and we won't necessarily have to create that technology ourselves," Farley said in a statement.

from Section Page News - Automotive News https://ift.tt/oJ7idAg

Column: Ford aimed for the moon with AVs but found a black hole

Ford did something rather astounding last week. It stopped lighting money on fire in pursuit of a goal it had severely underestimated.

from Section Page News - Automotive News https://ift.tt/lITdFbs

Tesla recalls 24,000 Model 3s in U.S.

Tesla Inc is recalling 24,000 2017-2022 Model 3s in the U.S. over a seat belt issue.

from Section Page News - Automotive News https://ift.tt/J3Fbh4V

Franchised dealerships equipped to evolve with changing auto retail model

Franchised dealers have the entrepreneurial skill and spirit to adapt their businesses to meet a changing industry, executives at two retail technology companies said at the Automotive News Retail Forum: Chicago event.

from Section Page News - Automotive News https://ift.tt/jWGNvF4

Tesla-inspired ATV for kids recalled over safety violations

The Tesla Cyberquad for Kids, made by Radio Flyer, failed to comply with federal mandatory safety standards, the Consumer Product Safety Commission, says.

from Section Page News - Automotive News https://ift.tt/FCu9rVt

Ford CEO: EV tax credits will be 'game changer' for commercial demand

Jim Farley says more than half of the company's commercial customers should be able to claim credits created by the recently signed Inflation Reduction Act startingin 2023.

from Section Page News - Automotive News https://ift.tt/QpguX7S

Sonic posts record Q3 revenue, net income

Sonic Automotive Inc. posted higher third-quarter net income and revenue despite sales declines at its EchoPark used-only stores and new-and used-vehicle sales on a same-store basis at its franchised dealerships.

from Section Page News - Automotive News https://ift.tt/bsfVlHN

U.S. dealership average pay surpasses $100K while turnover tumbles

Average industry turnover was 34 percent in 2021 — the lowest level in the 11-year history of the National Automobile Dealers Association's annual Dealership Workforce Study.

from Section Page News - Automotive News https://ift.tt/0T4vr1D

Lear plans $80 million EV parts plant

Lear Corp. will open an $80 million plant and create hundreds of jobs in Michigan after winning a program with General Motors Co. that marks its largest electric vehicle deal and investment to date, the supplier said Thursday.

The Southfield-based company struck a deal with the automaker to exclusively supply the battery disconnect unit on all full-size SUVs and trucks built on GM's Ultium EV platform through 2030, according to a news release.

Lear said it is "working with state and local officials on a plan" to open the plant. The specific location was not disclosed, nor has the amount of potential incentives being sought for the project.

Crain's Detroit Business inquired with Lear for more details.

CEO and President Ray Scott alluded to the plan in an interview with Crain's earlier this month when he said that a push to localize supply chain created a need for an E-Systems plant in Michigan. Last month, it launched a just-in-time seating plant in Detroit on the former Cadillac Stamping site, which will supply GM's Factory Zero on the Detroit-Hamtramck border.

Lear makes the bulk of its $19 billion annual revenue from supplying seats.

"Lear is developing innovative technologies that are driving the widespread adoption of electric vehicles," Scott said in the release. "This additional new business with GM was made possible by Lear's recognized value proposition in electrification that combines flexible manufacturing operations and advanced Industry 4.0 automation technologies with our vertically integrated capabilities."

Battery disconnect units are the interface between an EV's battery pack and electrical system. Suppliers are locked in a fierce competition to win contracts for content in electric cars, which for now appear to be the future of the industry and contain a fraction of the parts in a gas-powered car.

"… It is important to make this investment in our backyard," Scott said. "This facility will provide hundreds of highly skilled jobs to the state and will be our largest investment in an electrification-focused production site to date."

from Section Page News - Automotive News https://ift.tt/zpYtDyN

Ford, VW-backed Argo AI to shut down, report says

Argo employees were told that some of them would receive offers from the two automakers, TechCrunch said, adding that it was not clear how many employees would go to Ford, Volkswagen, or lose their jobs.

from Section Page News - Automotive News https://ift.tt/2FzCHdy

Early Polestar stores face a wait for volume model

U.S. deliveries of Polestar's anticipated Polestar 3 crossover are delayed until the fourth quarter of 2023, but the automaker isn't worried about the critical EV's late arrival.

from Section Page News - Automotive News https://ift.tt/hKLSpVY

Penske's Q3 net income slips despite record revenue

Penske Automotive Group Inc. posted lower net income in the third quarter, as used-vehicle sales dipped.

from Section Page News - Automotive News https://ift.tt/T7odyRb

Musk wants Washington to embrace the digital age

NHTSA is requiring the EV maker to send a recall notice for an issue Tesla already started fixing.

from Section Page News - Automotive News https://ift.tt/mhAakIu

Firm invests $70M into dealership group led by Jonathan Sobel

Franchise Equity Partners is officially in the auto dealership business following a $70 million investment into Jonathan Sobel-led Georgica Auto Holdings.

from Section Page News - Automotive News https://ift.tt/jso3VXk

Kia recalling 71,000 older U.S. Sportage vehicles for fire risks

Owners should park outside and away from structures or other vehicles until the recall is completed, according to Kia's filing with NHTSA.

from Section Page News - Automotive News https://ift.tt/heIKMPO

Mercedes quitting Russian market, selling shares to local investor

Mercedes will withdraw from the Russian market and sell the shares in its industrial and financial services subsidiaries to Avtodom, a local investor.

from Section Page News - Automotive News https://ift.tt/gPk37nt

EV maker Via Motors plots HQ move from Utah to Michigan

The company, chaired by longtime GM executive Bob Lutz, is planning to open a 100,000-square-foot office and R&D tech center with the help of a $2.5 million performance-based grant from the state of Michigan.

from Section Page News - Automotive News https://ift.tt/lTXeO4B

GM Financial Q3 earnings drop 16%

GM's captive financing arm sees earnings, revenue drop in third quarter.

from Section Page News - Automotive News https://ift.tt/ymkriE3

Bosch expands U.S. factory to produce more e-motors

Bosch said it has secured "additional electromobility business" that requires an expansion at its South Carolina plant, which began producing electric motors for the Rivian R1T pickup this month.

from Section Page News - Automotive News https://ift.tt/DxBlSOy

U.S. autonomous vehicle group picks ex-Senate aide as director

U.S. lawmakers have been divided for years over how to amend current auto safety regulations to encompass self-driving cars, including the scope of consumer and legal protections.

from Section Page News - Automotive News https://ift.tt/1aG7rx5

Bosch expands U.S. factory to produce more e-motors

Bosch said it has secured "additional electromobility business" that requires an expansion at its South Carolina plant, which began producing electric motors for the Rivian R1T pickup this month.

from Section Page News - Automotive News https://ift.tt/M10WFnD

GM Q3 net income jumps 37% on record revenue

Net income soared to $3.3 billion as improved truck production and rising prices pushed the automaker's North American profit up 83 percent.

from Section Page News - Automotive News https://ift.tt/VShBm52

New-look 2023 Toyota Crown returns to U.S. after 50 years — in modest quantities

Toyota executives said they expect to sell 20,000 2023 Toyota Crown sedans in the U.S. as the brand brings back the nameplate after a 50 year absence. The fastback-shaped sedan goes on sale in November in U.S. dealerships.

from Section Page News - Automotive News https://ift.tt/rj6ciKN

Kia the latest automaker to mull exiting Russia

The automaker would join VW, Toyota, Renault, Nissan, Hyundai and Mazda that have or are considering winding down their exposure in Russia after its invasion of Ukraine in late February.

from Section Page News - Automotive News https://ift.tt/4YW9SVj

South Korea's battery fires are a worry for EV makers

A major blaze in South Korea that knocked out a wide range of key digital services for days snarled banking, ride-sharing and online deliveries — and is reigniting safety concerns in a nation that's a huge supplier of lithium-ion cells used in electric vehicles.

from Section Page News - Automotive News https://ift.tt/By9XMqU

EV maker Mullen taps ex-GM executive John Schwegman

Mullen Automotive has tapped former GM exec John Schwegman to be the electric vehicle maker's chief commercial officer.

from Section Page News - Automotive News https://ift.tt/KgVjmil

A Tesla factory in Mexico? Elon Musk meets with Nuevo Leon state officials, reports say

Photographers spotted Tesla CEO Elon Musk in northern Mexico meeting with economic officials. Local media suggested Musk could be looking for plant space or meeting with suppliers.

from Section Page News - Automotive News https://ift.tt/R7k4rCx

Toyota scrambles for EV reboot with eye on Tesla

A working group within Toyota has been charged with outlining plans by early next year for improvements to its existing EV platform or for a new architecture, four sources told Reuters.

from Section Page News - Automotive News https://ift.tt/HjvJKWU

Tesla cuts China prices by up to 9% as analysts warn of 'price war'

The price cuts also follows Tesla CEO Elon Musk's comment last week that "a recession of sorts" was under way in China and Europe, and Tesla said it would miss its vehicle delivery target this year.

from Section Page News - Automotive News https://ift.tt/kRNDWLy

Arizona dealership group gets green light to pursue suit over raid by state AG

A federal judge in Phoenix has given the green light to Mark Enterprises to pursue a lawsuit against state attorney general agents after a raid in October 2019.

from Section Page News - Automotive News https://ift.tt/QB4NR5n

The auto industry's $75B bet on autonomy is not paying off

This has spelled disaster for Aurora Innovation, TuSimple Holdings and Embark Technology, whose shares have each plunged at least 80 percent this year.

from Section Page News - Automotive News https://ift.tt/p2NEf1J

GM, Ford poised to report Q3 earnings to a skeptical Wall Street

Wall Street suspects both companies could fall short of their 2022 forecasts, or underperform next year, with consumer demand dented by rising interest rates, higher oil prices and global economic slowdowns.

from Section Page News - Automotive News https://ift.tt/u01PWno

Hyundai Q3 earnings drop amid rising prices, supply chain disruption

Operating profit was down 3.4 percent from a year earlier, while net income dropped 5.1 percent.

from Section Page News - Automotive News https://ift.tt/oNblZSR

Former NHTSA chief Cliff: Return to CARB ‘irresistible'

Steven Cliff had been acting administrator of NHTSA since February 2021, confirmed by the U.S. Senate in May 2022 as its 16th administrator. In August — less than three months after the Senate confirmation — the California Air Resources Board announced Cliff's departure from NHTSA to run the state agency.

from Section Page News - Automotive News https://ift.tt/Plc9mih

Ouster's new lidar series doubles range of its previous sensors

Ouster's REV7 sensors have a maximum range of more than 400 yards that allows the detection of objects up to a quarter-mile away.

from Section Page News - Automotive News https://ift.tt/wENHYuo

Kia cuts price of redesigned, top-end Niro EV trim

The second generation of Kia's Niro EV goes on sale this month in all 50 states, and the top-end Wave trim will cost $45,745, $200 less than its predecessor.

from Section Page News - Automotive News https://ift.tt/7ql23Dp

Startup Wejo aims to reduce traffic deaths with data

The British startup says its data can make roads safer, travel more efficient and automakers less isolated.

from Section Page News - Automotive News https://ift.tt/IE4ClHM

How a VW dealership’s competitions boosted alignment, tire sales

Onion Creek Volkswagen boosted sales of alignments and tires by establishing a process that all service advisers follow and by holding competitions. Commissions, bonuses and other spiffs are up for grabs each month.

from Section Page News - Automotive News https://ift.tt/eudLb5V

AN hones focus on 3 areas with newsroom reorg

Automotive News has made some promotions and changes to its editorial team to better support the publication’s coverage areas — the making, selling and thinking that goes into the business of personal transportation.

from Section Page News - Automotive News https://ift.tt/ElkUcpV

LinkedIn Live talk from the Automotive News Retail Forum

Join us on LinkedIn at noon Eastern on Oct. 27 for a live talk with Mark LaNeve, chairman of the auto dealership vertical at Franchise Equity Partners and former top sales and marketing executive at both General Motors and Ford Motor Co.

from Section Page News - Automotive News https://ift.tt/kVO5cyT

CATL slows battery investment plan for U.S., Mexico-sources

Chinese battery giant CATL has slowed its planning for investment in battery plants in North America on concern that new U.S. rules on sourcing battery materials will drive costs higher, two people with knowledge of the matter said.

from Section Page News - Automotive News https://ift.tt/0QuLvPn

Biden administration considers security reviews for Musk deals

Biden administration officials are discussing whether the U.S. should subject some of Elon Musk's ventures to national security reviews, including the deal for Twitter.

from Section Page News - Automotive News https://ift.tt/TRxmq80

Elon Musk: Teslas won't be approved as fully self driving this year

Tesla's advanced driver assistant software will not gain regulatory approval in 2022, Chief Executive Elon Musk said, signaling the company is not yet able to satisfy authorities that its cars can be driven without someone behind the wheel.

from Section Page News - Automotive News https://ift.tt/wntOo8z

Toyota to cut full-year production target on chip shortage

The automaker said it expects to lower its global production schedule amid global supply chain upheaval.

from Section Page News - Automotive News https://ift.tt/xjMbSPD

Toyota to cut full-year production target on chips crunch

The automaker said it expects to lower its global production schedule amid global supply chain upheaval.

from Section Page News - Automotive News https://ift.tt/P6gLVDF

NHTSA reports 10 fatal crashes involving assisted-driving tech in June-September

The agency's data show 16 fatal crashes involving vehicles with Level 2 ADAS systems have been reported since it ordered vehicle, equipment and software manufacturers to report them in mid-2021.

from Section Page News - Automotive News https://ift.tt/0cOLzMh

Musk: Teslas won't be approved as fully self driving this year

Tesla's advanced driver assistant software will not gain regulatory approval in 2022, Chief Executive Elon Musk said, signaling the company is not yet able to satisfy authorities that its cars can be driven without someone behind the wheel.

from Section Page News - Automotive News https://ift.tt/IUxW98n

Baxter Auto sells 4 Stellantis dealerships in unique deal

Baxter Auto Group sold four Stellantis dealerships to Edwards Auto Group, which kept two of the stores. Edwards Auto sold two dealerships to two different auto retailers.

from Section Page News - Automotive News https://ift.tt/h3lVRWu

Brembo sets up venture capital arm

Brembo Ventures will invest in startups globally, focusing on artificial intelligence, big data, sensors, mechatronics, energy efficiency and sustainability.

from Section Page News - Automotive News https://ift.tt/hpLnyiv

Porsche is still looking to enter F1

Porsche is still in discussions about a partnership in Formula 1 racing after discussions with championship leaders Red Bull broke down.

from Section Page News - Automotive News https://ift.tt/1s9jkzN

GM is considering a midsize Hummer

GM is considering adding an electric midsized pickup to its Hummer lineup according to people familiar with the matter.

from Section Page News - Automotive News https://ift.tt/mhZlq75

Tesla CEO Musk: Demand not a problem despite economic headwinds

Tesla CEO Elon Musk told analysts the automakers will deliver every vehicle its factories can build.

from Section Page News - Automotive News https://ift.tt/DXlkQry

Tesla Q3 earnings reflect possible softening demand

Tesla reported lower than expected third quarter revenue, as the EV maker delivered fewer vehicles than expected.

from Section Page News - Automotive News https://ift.tt/47HQlPz

Jennifer LaClair steps down as Ally Financial CFO

Ally Financial Corporate Treasurer Bradley Brown will serve as interim chief financial officer.

from Section Page News - Automotive News https://ift.tt/fBp3bvt

GM is considering a midsized Hummer

GM is considering adding an electric midsized pickup to its Hummer lineup according to people familiar with the matter.

from Section Page News - Automotive News https://ift.tt/kFhWVHs

Ally Q3 auto finance applications down, but total value steady

Ally Financial said it was lending to or receiving auto finance referrals from 2,570 more car dealerships during the third quarter compared with a year earlier.

from Section Page News - Automotive News https://ift.tt/mQikFId

Waymo's autonomous taxi service is coming to L.A.

Waymo, Alphabet Inc.'s driverless-vehicle unit, plans to expand its robo-taxi service to Los Angeles, the third region where it will be offered.

from Section Page News - Automotive News https://ift.tt/7LbvwFn

Lithia Motors' Q3 net income rises as revenue hits record

Lithia Motors Inc., which continued its dealership network expansion in the third quarter, posted vehicle sales increases and record revenue.

from Section Page News - Automotive News https://ift.tt/WikAyTJ

Uber’s new ad formats use its first-party data to target riders

Uber's new ad format is the first release under its unified ads division.

from Section Page News - Automotive News https://ift.tt/e4FkVQW

Porsche 911 gets a touring variant

Porsche is adding a touring variant to the 911 lineup. The 2023 911 Carrera T, where the T stands for "touring," will slot between the 911 Carrera and 911 Carrera S.
It adopts the twin-turbo six-cylinder engine from the 911 Carrera that generates 379 hp and 331 pound-feet of torque.
The 911 Carrera T comes standard as a two-seater with a seven-speed manual transmission. Rear seats and an eight-speed dual-clutch automatic transmission (PDK) are available as no-cost options.
The 911 T has a top track speed of 181 mph and can sprint from 0 to 60 mph in 4.3 seconds.
With the PDK, that time dips to 3.8 seconds.
The 2023 911 Carrera T will reach dealerships by spring, priced from $118,050, including destination.

from Section Page News - Automotive News https://ift.tt/b1qwCSx

Passport Automotive settles FTC suit over illegal fees, discrimination for $3.38 million

Passport Automotive agreed to pay $3.38 million to settle a Federal Trade Commission lawsuit filed against the dealership group for charging illegal fees and discriminating against Black and Latino customers. The dealer group denies it discriminated.

from Section Page News - Automotive News https://ift.tt/Y0USCqZ

GM’s plant in South Korea to boost capacity to 500,000 vehicles a year

The Changwon plant, which will build GM’s so-called next-generation vehicles including an all-new Chevrolet crossover, is currently being remodeled and expanded as part of a plan that kicked off last year.

from Section Page News - Automotive News https://ift.tt/TpOtAxC

Hyundai pressures U.S. to ease EV tax credit rule that penalizes foreign automakers

Depending on how the Biden administration chooses to interpret the law, the rule could leave Hyundai and some other foreign automakers at a disadvantage against EV makers eligible for the credit.

from Section Page News - Automotive News https://ift.tt/6AfGugR

NADA picks Gary Gilchrist as likely 2024 chairman

Gary Gilchrist, president of Gilchrist Chevrolet-Buick-GMC in Tacoma, Wash., was elected 2023 vice chairman during the association's board meeting Tuesday. This puts him in line to be chairman in 2024.

from Section Page News - Automotive News https://ift.tt/qbNaK4i

Intel slashes Mobileye IPO valuation down to $16 billion

The self-driving unit of Intel said in a regulatory filing it is offering 41 million shares of common stock priced between $18 and $20 per share.

from Section Page News - Automotive News https://ift.tt/q6S4DXZ

Tesla faces questions on recession, EV credits, Cybertruck

Tesla Inc. CEO Elon Musk continues to spar on Twitter over Ukraine and nuclear war while analysts and investors seek guidance on vehicle demand and future product

from Section Page News - Automotive News https://ift.tt/HVPxwEg

Fisker speeds up search for U.S. assembly plant to win tax credits

Henrik Fisker: “I am looking at bringing Ocean (SUV) production over to the U.S., and we are looking at some opportunities to produce as early as 2024."

from Section Page News - Automotive News https://ift.tt/XlHdcYI

Hyundai, Kia plan to take combined $2 billion hit for Q3

The automakers said the provisions were needed because of engine recalls and more recent changes, such as longer lifecycles for used vehicles and lower scrap rates caused by a chip shortage, and an underestimate of engine improvements.

 

from Section Page News - Automotive News https://ift.tt/ds0BaSL

Cadillac Celestiq is a new car and a new way of doing business

The Cadillac Celestiq EV, with a big price tag and an ultra-exclusive customer experience to match, represents the future direction of the brand.

from Section Page News - Automotive News https://ift.tt/SH0vJb9

Can this small Michigan town handle a huge EV battery plant?

Some question whether a city of about 8,000 has the ready-made automotive workforce to support a plant expected to employ up to 2,350 people.

from Section Page News - Automotive News https://ift.tt/gV5T0dn

Jeep toughens electric Avenger with rugged look

The production version of the Jeep Avenger 4x4 Concept will mark the first time engineers have applied electric motors to create all-wheel-drive capability.

from Section Page News - Automotive News https://ift.tt/qHbfDxS

BMW to shift electric Mini's UK production to China

BMW will build Mini electric hatchbacks and a small SUV in China through its partnership with Great Wall Motor.

from Section Page News - Automotive News https://ift.tt/n2elJVB

VinFast recalls a third of its sold EVs to replace sensors

VinFast will recall 730 of its model VF e34 EVs, which are available only on the domestic market, to make checks and replace their side crash sensors.

from Section Page News - Automotive News https://ift.tt/6KgPLF4

Jeep Avenger to give brand big sales boost in Europe

The Avenger is the brand's first full-electric model, although it will be sold with combustion engines in some European markets.

from Section Page News - Automotive News https://ift.tt/UVvLGBW

VinFast returns to Paris show with new confidence but plenty still to prove

The Vietnamese automaker is rapidly transforming into an electric-only brand with four EVs on display at the Paris auto show.

from Section Page News - Automotive News https://ift.tt/qdgyVPY

Hyundai group, Ford chip away at Tesla lead

Hyundai's EV registrations more than doubled and Kia's more than quadrupled. Ford's also more than doubled, but it still slipped to third place.

from Section Page News - Automotive News https://ift.tt/IHWMT6n