Friday, June 30, 2023

Nominate those who drive industry diversity

Notable Champions of Diversity program will recognize those who have made significant efforts to promote diversity, equity and inclusion in the workplace and their community during the last several years.



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New generative AI software targets dealerships and automakers

Impel's new Chat AI tool is in the same technology family as ChatGPT. Impel says its version, aimed at dealers and automaker customers, is customized in a number of ways.



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Lithia unloads Toyota Ford and Bentley-Lotus dealerships

Lithia Motors, fresh off two June acquisitions, sold three U.S. dealerships this month, including one it had just purchased.



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Audi's new CEO Gernot Doellner must tackle these 5 problem areas

Audi's new boss Gernot Doellner must tackle issues including brand perception, a lack of new product and the slow modernization of EV plants.



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Thursday, June 29, 2023

Porsche said to rethink plan to ditch Macan ICE sales in U.S. by mid-decade

Porsche told dealers it expects U.S. sales to hit 80,000 next year.



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J.D. Power: Tesla chargers more reliable than competitors

Tesla's Supercharger network is more reliable than competitors, according to J.D. Power's most recent E-Vision Intelligence Report. Tesla drivers are able to charge around 96 percent of the time at a public Supercharger port.



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Toyota's May global sales jump 10% on domestic growth and more supplies

Toyota Group sold 838,478 vehicles globally last month, compared to 761,466 vehicles in May 2022, when sales took a heavy hit from a parts shortage.



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Ferrari adds powerful SF90 Stradale derivatives

The SF90 XX Stradale coupe and SF90 XX Spider roadster are aimed at wealthy customers looking for an extreme performance track car that can also be driven legally on the road.



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Automaker group says EPA's proposed vehicle emissions rules are unachievable

The Alliance for Automotive Innovation said the EPA's proposed rule is "so stringent" that it is "a de facto battery-electric vehicle mandate."



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Mercedes-Benz addresses Level 3 legalities; lawyers say uncertainty lingers

Mercedes-Benz says "well-established legal systems" should determine whether the company is liable for crashes and other incidents that may arise from use of its Drive Pilot system. Whether human drivers bear some liability remains a key legal question.



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Wednesday, June 28, 2023

Michigan group sues to stop Ford battery plant

A group opposed to a Ford electric vehicle battery plant in Marshall, Mich., is suing the city in hopes of stopping the construction.



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Canada's Alpha Auto group to pay about $588M for UK's Lookers

Canada's Alpha Auto will pay Lookers shareholders 120 pence in cash for each share of the nearly century-old dealership group. The agreement values Lookers at 465.4 million pounds (about $588 million).



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How Stellantis made its quality gains and keeps them going

After years of subpar showings, Stellantis' Dodge, Ram and Alfa Romeo brands topped J.D. Power's Initial Quality Study. Outgoing customer experience head David McDonald says factory engineers routinely visit dealerships, and each plant has a "control tower" for quality.



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Small trucks lacking in rear-seat passenger protections

The IIHS crash tested five small pickups. All five earned good front-seat safety ratings but rear-seat safety systems were found lacking.



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5 cool things about Kia's new EV9 electric crossover

Kia wants its new EV9 electric crossover to move the brand image up-market while reeling in customers from rivals. The roomy interior should land the EV9 on plenty of shopping lists. So should its 800-volt charging, 99.8-kWh battery option and all-wheel-drive layout.



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Tuesday, June 27, 2023

UAW fires top lawyer amid management purge; ousted lobbyist speaks

UAW President Shawn Fain last week fired Abigail Carter, the union's general counsel, along with two others in the legal team after alleging they concealed information from him.



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AutoZone's long-time CEO Rhodes to step down next year

AutoZone Inc. CEO Bill Rhodes will step down in January next year after leading the company for more than 18 years,



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Ex-Audi CEO Stadler fined $1.2M avoids jail in VW diesel trial

Rupert Stadler is the first VW Group board member to be sentenced in Germany in connection with the 2015 diesel-rigging scandal.



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U.S. consumer interest in EVs gains but still trails other nations

Americans' willingness to buy EVs grew 15 percent, a margin higher than consumers from EV-leading countries, according to a study by EY.



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Monday, June 26, 2023

U.S. consumer interest in EVs gains but still trails other nations

Americans' willingness to buy EVs grew 15 percent, a margin higher than consumers from EV-leading countries, according to a study by EY.



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Ford poised to begin next round of salaried job cuts

The automaker is cutting engineers in all three areas of its business, EVs, traditional internal combustion-engine models and commercial vehicles, said a company spokesman. The workers will be informed Tuesday and Wednesday.



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China exports more cars than Japan on sales surge to Russia

The Asian country exported 1.07 million vehicles in the three months through March, overtaking long-time leader Japan.



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Chevy Silverado EV fleet sales start soon; price of base model raised

Economic and supply constraints have affected pricing of entry-level version launching in 2024, originally set at $39,900 before shipping, Chevy said.



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Renault's Alpine F1 team gets investment from Hollywood actors

A group of investors, including the investments arm of U.S. actor Ryan Reynolds, has put $218 million into Renault's Alpine Racing division.



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Rivian expands mobile service with fleet of heavy-duty vans

The mobile service van is the same large commercial van it makes for Amazon.



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Sunday, June 25, 2023

9 Stellantis plants aim for carbon neutrality

Nine plants in Michigan have saved $1 million since instituting the energy efficiency measures in 2021.



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Eaton to invest $22.5M in Michigan electrification research lab

The 10,000-square-foot lab for testing of powered electronics and high-speed dynamometers represents another injection of jobs in Marshall, Mich., as Ford plans a $3.5 billion battery plant and create 2,500 jobs in the community.



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Saturday, June 24, 2023

GM service tech training program grows

One reason for the bump may be the impact of a marketing campaign that aims to change the image of auto repair as a career.



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NHTSA probing Ford over Explorer recall for power loss

NHTSA said it received two complaints alleging a loss of power or transmission torque of the rear wheels in Explorer vehicles that had received the recall fix.



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Washington state plans to mandate Tesla's charging plug

Washington state plans to require electric vehicle charging companies to include Tesla's plug if they want to be part of a state program to electrify highways using federal dollars, an official told Reuters on Thursday.



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Nissan investigates claims CEO put COO Gupta under surveillance

The investigation comes amid claims of a split in senior management over Nissan's relationship with Renault and concerns about transfers of intellectual property to the French automaker.



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Friday, June 23, 2023

Toyota tackles Tesla trauma with radical EV production overhaul

Toyota is modernizing its famed production system to take on Tesla in the EV era with a slew of new manufacturing technologies that will debut in just a few short years.



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How certified used-vehicle program helps set this Kansas group apart

One dealership group's long-established used-vehicle certification program has proved helpful as customers faced with tighter new-vehicle options search for the next-best vehicle — in addition to providing boosts to its service and parts and finance departments.



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Suppliers hit big hurdle in quest to bring manufacturing closer to home

While commodity, freight and energy prices have mostly come back down to earth since post-pandemic spikes, elevated labor costs and worker shortages remain a pain point for the supply chain.

 



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CarMax's Q1 net income slips 9.5% amid vehicle affordability issues falling consumer confidence

The retailer reported net income of $228.3 million in the three months ending May 31, down 9.5 percent year-over-year, with net revenue dropping 17 percent to $7.7 billion.



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Infiniti teases EVs new store design at dealer meeting to double sales

Nissan's luxury brand laid out a bold comeback plan for its frustrated dealers to increase sales to 100,000 vehicles by mid-decade — more than twice the 46,619 the company sold in 2022.



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Audi's EVs and RS cars will revive brand VW Group CEO says

Audi has "huge opportunities" with an upcoming product fireworks starting in 2024, VW CEO Oliver Blume said.



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Thursday, June 22, 2023

America's Group acquires Las Vegas auction expanding its reach in the West

The acquisition broadens the auction company's market presence to dealers, rental companies and financial institutions in major cities in the West, America's Group CEO Chuck Tapp said.



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For EV batteries lithium iron phosphate narrows the gap with nickel cobalt

LFP has sparked new interest especially in the U.S., where a clutch of domestic and overseas manufacturers has pledged more than $14 billion in new production facilities.



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Legacy parts makers and newcomers are shifting to an EV supply chain

Suppliers are spending big money on new projects to build components for electric vehicles and the batteries that power them.



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Promising EV brands struggle this year despite strong U.S. market

Rivian, Lucid, Nissan, Porsche and Cadillac are among brands with relatively weak numbers, according to four-month registration data from Experian.



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Wednesday, June 21, 2023

Rivian acquires route planning app maker Iternio CEO says

Rivian has acquired Swedish EV route planning app maker Iternio to add its technology to its electric pickups and sport utility vehicles, as well use its data to better expand its own charging network,



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Polestar forms $200M software JV with Geely unit

The new unit will develop Xingji Meizu’s technology platform, Flyme Auto, into an operating system to offer in-car apps and intelligent vehicle software.



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Tesla loses bid to overturn Louisianas ban on direct car sales

The case is part of Tesla's strategy of reversing direct sales bans in some states.



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Tesla extends reign of American Made Index

Cars.com released on Wednesday its annual American Made Index. Tesla took the top four spots, with VW, Honda and Acura vehicles also making the top 10. Supporting U.S. jobs remains important to consumers despite harsh economic conditions, a Cars.com consumer survey found.



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Stellantis Foxconn form auto chip JV

The joint venture, called SiliconAuto, will supply Stellantis, including its new 'STLA Brain' electronic and software architecture, Foxconn and other customers, the two companies said.



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Tuesday, June 20, 2023

ARC Automotive responds to NHTSA request in airbag inflator probe

NHTSA on May 31 issued a special order directing ARC Automotive to answer written questions under oath and produce additional documents by June 14.



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Bill Ford balks at UAW enemy' rhetoric: That's just wrong'

The Executive Chair of Ford Motor Co. pushed back on accusations that the two sides are enemies.



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Global Auto Holdings to buy UK car dealership chain Lookers for $595 million

Global Auto Holdings, an entity related to privately-owned Canadian car dealer network Alpha Auto Group by having the same owner, said the acquisition enables its entry to the UK market and supports its bid to become a global auto retailer.



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Toyota unleashes generative AI to meld vehicle design with engineering principles

Toyota Research Institute executives said Tuesday they've developed a generative AI technique that ensures early design sketches incorporate engineering parameters.



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Hyundai to consider joining Tesla's North American charging alliance

Tesla's Superchargers make up about 60% of available U.S. fast chargers. Ford and General Motors have in recent weeks struck deals with Tesla to use its charging technology, now dubbed the North American Charging Standard.



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Hyundai aims for double-digit EV profit margins by 2030 with new platform

Hyundai's new EV strategy aims to rapidly ramp up volume, efficient manufacturing and flexible product engineering to drive down costs as the automaker seeks profit margins of 10 percent on the coming line of EVs riding on its new platform.



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Monday, June 19, 2023

U.S. lawmakers will press auto CEOs over China supply-chain links

Four lawmakers are concerned about Ford’s partnership with Chinese auto battery manufacturer Contemporary Amperex Technology Co. Ltd., and auto companies’ dependence on China more broadly.



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BorgWarner acquires EV charging business in Italy for about $80 million

The acquisition target is expected to generate about $27 million in revenue this year, and BorgWarner expects to grow sales to $273 million by 2027.



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Tesla offers fresh discounts free Supercharging in end-of-quarter push

The EV maker is offering discounts of about $7,500 on Model S sedan and Model X crossover inventory models, plus three years of complimentary charging



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NHTSA opens probe into Hyundai Ioniq 5 after reports alleging power loss

NHTSA said it received 30 complaints from U.S. vehicle owners, many of which reported a "loud pop noise followed by a warning displayed in their dashboard" and immediately experienced a reduced or total loss of motive power.



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Why Deborah Wahl left GM; whats next for the former CMO

The longtime automotive marketer discusses her General Motors tenure, her new appointment to the board of ad tech player ActionIQ, why she hasn’t gone to Cannes much—plus, what was her favorite campaign over her career?



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Level 3 presents a complicated 'mushy middle' in automated driving

Can motorists read a book while using Mercedes-Benz's new Level 3 automated driving system? Text friends? Watch TV? Level 3 brings many questions and legal risks, experts say.



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Sunday, June 18, 2023

California GAP law: Dealers quick to comply

Forty-six percent of California car sales in December 2022 with GAP would not have complied with an impending state cap on the price of the coverage to 4 percent of the amount the borrower financed.



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Digital retail could hurt dealer F&I revenue

75 percent of vehicle gross profit at Tim Dahle Nissan Southtowne near Salt Lake City is generated from F&I sales.



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Friday, June 16, 2023

Commentary: Detroit auto show poised to disappoint again

This month, the Detroit auto show beat back whispers of its potential demise with a bold press release promising that September's event would have 'double the number of brands participating.' That's not true.



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Strikes end at Ohio battery plant and Michigan aluminum parts plant

Workers at a Constellium aluminum parts plant near Detroit and a Clarios battery plant near Toledo both voted to ratify new contract agreements Friday after several weeks on strike.



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Automated driving features gain acceptance in S&P Global survey

In S&P Global's survey of 8,000 car shoppers, consumers expected ADAS to be standard in new luxury and mainstream vehicles, yet expressed hesitancy to the use of "autonomous driving systems."



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Stellantis limiting shipments of gasoline vehicles to 14 states

Stellantis says dealers in the states following California's emissions guidelines can only get gasoline vehicles ordered by customers. Dealers in other states no longer are receiving any plug-in vehicles without a customer order.



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Supplier Shiloh to shut down Detroit area plant lay off 107 post-bankruptcy

Union President Michael Baumann said he recently negotiated exit packages for represented employees. He said he thinks mismanagement doomed the plant, though he believes the severance agreements were fair.



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Baxter Auto Martin Management and AutoNation among Q1 Q2 dealership buyers

Three auto retailers ranked on ' top 150 dealership groups list completed first- and second-quarter acquisitions, while a regional group bolstered its presence in Ohio in February.



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Thursday, June 15, 2023

New upheaval at Nissan as COO Ashwani Gupta leaves

Gupta was charged with leading the company’s fitful recovery plan in the wake of former Chairman Carlos Ghosn’s arrest and unraveling relations with Renault. While Gupta managed to stabilize profitability, global volume remains far below levels seen in the Ghosn era.



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Stellantis Ventures invests in tech sustainability startups

Stellantis Ventures announced Thursday the 10 startups it plans to invest in. They include AI dash cam developer Nauto and off-road trail guide company Trails Offroad as well as other sustainability and technology focused startups. The fund is also investing in one mobility venture fund that it has not named.



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Ford GM see strong U.S. consumer demand for vehicles

The bullish comments from the two automakers underscored an upbeat report by the U.S. Commerce Department that showed U.S. retail sales unexpectedly rose in May.



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Toyota Chairman Akio Toyoda tests high-performance full-electric sports car

The only thing missing from the electric prototype is "the smell of gasoline," Toyoda said.



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Wednesday, June 14, 2023

FedEx Express Canada launches first all-electric commercial vehicles with BrightDrop

Fedex Express Canada deployed 50 all-electric vehicles with BrightDrop, hoping to reduce carbon emissions in last-mile delivery.



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Biden vetoes bill that would negate EPA heavy truck pollution cuts

The veto preserves EPA rules that Biden said will "make our air cleaner and prevent thousands of premature deaths by limiting hazardous heavy-duty vehicle pollution."



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BorgWarner sets July completion date for aftermarket spinoff

BorgWarner said it expects to complete the planned spinoff of its aftermarket and fuel parts business into Phinia by July 3. The transaction is part of an overarching strategy to prepare for an electrified future.



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UAW Clarios reach new tentative agreement at striking Ohio battery plant

The UAW has reached a new tentative agreement with the Ford- and GM-supplying Clarios battery plant where about 400 members have been on strike since May 8. Members will vote on the agreement on Friday.



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EV range falls while carrying heavy loads AAA study finds

AAA's study found range dropped 25 percent for a Ford F-150 Lightning loaded with 1,400 pounds of sandbags.



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Toyota shareholders vote down climate resolution back board

Toyota has become a target in recent years for activists and green investors who said it has been slow to roll out EVs.



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Tuesday, June 13, 2023

Lithia Motors buys 14 car dealerships from Priority Auto Group

Auto retail giant Lithia Motors Inc. confirmed that it purchased the majority of Priority Auto Group's dealerships in Virginia. The deal did not include the group's two Lexus stores.



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Live talk Wednesday: The future of AM radio in EVs

Join Automotive News at noon Eastern on Wednesday for a LinkedIn Live discussion on the future of AM radio in EVs.

Mike Ramsey, vice president and analyst at Gartner, will join Automotive News Executive Editor Jamie Butters and Staff Reporter Molly Boigon as they discuss the factors driving the exclusion of broadcast AM radio in vehicles, why some in Congress are pushing for it to stay and the larger EV landscape impacting the debate.

We will hear from AN readers who submitted their voice notes about AM radio and engage with commenters. We welcome questions and comments in advance



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Even California needs to step up on EVs, Kia urges

California's ambitious goal to ban sales of all new gasoline vehicles by 2035 has automakers hustling to built electric vehicles, but ambitious EV producer Kia says the state isn't ready for the widespread electrification it envisions.



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Shyft Group CEO Daryl Adams to step down

The decision is the result of a "careful and thoughtful leadership transition process," the company said.



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Monday, June 12, 2023

Newly revealed Toyota EV plans include batteries with 900-plus miles of range

Toyota is readying a slew of new batteries for a wave of next-generation electric vehicles and completely overhauling its vaunted production system for even more efficient manufacturing.



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Auto retail tech startup Stella Automotive AI hires new CEO

Auto industry consultant Rich Sands joins the company backed in part by Pohanka Automotive Group and Maroone USA.



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Lithia adds Priority Auto Group in Virginia

Lithia Motors Inc. said in social media posts early Monday, which have since been taken down, that it has added Priority Auto Group in Virginia.



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With GM, Ford deal with Tesla, what does future of EV charging look like?

EV charging technology could be the next VHS and Betamax.



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GM plans $632M upgrade in Ft. Wayne, Ind., for future large pickups

GM over the past week committed more than $2.3 billion to plants that build large, gas-powered pickups and SUVs.



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Israel carves place as automotive technology powerhouse

Israel's strong technology and venture capital scene has turned the small nation into a global automotive industry player by focusing on sensors, chips, software and cybersecurity.



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VW board to discuss $3.2B savings program, report says

The board will discuss cost-cutting measures amounting to at least 3 billion euros ($3.22 billion) across brands including VW, Seat, Skoda and Cupra.



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Sunday, June 11, 2023

Herb Chambers buys infamous Lady May superyacht

The New England megadealer was the winning bidder for the 152-foot Lady May from the bankruptcy estate of an indicted Chinese billionaire.



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GM's old Buick City site is ready to rise again in Michigan

The site is being turned into an industrial park with as many as 3,000 jobs, a fraction of the nearly 28,000 that GM once employed there.



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Friday, June 9, 2023

EV charging question? Ask GM's experts

GM's EV Live connects consumers, dealers and others to specialists to spur EV adoption.



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Detroit auto show vows to make a comeback in 2023. But which automakers can the show lure back?

The Detroit 3 are expected to participate with their full brand portfolios, although it's unclear what, if any, companies the show can win back after many sat out in 2022.



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Bosch embraces software-focused future

Bosch hopes to benefit from the CHIPS and Science Act, the Inflation Reduction Act and future federal vehicle safety requirements as it aims to bring in $20 billion annually by 2029.



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Thursday, June 8, 2023

2024 Lexus TX, GX fulfill 2 big needs for brand

The three-row 2024 Lexus TX fills an important white space in the luxury brand's lineup, while the big 2024 Lexus GX gets a redesign that was a long time coming.



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Key U.S. auto safety official resigns to join Zoox

The head of the U.S. auto safety agency's defects investigation office said on Wednesday he has left the agency to join Amazon.com's self-driving unit Zoox.



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Reynolds buys startup to boost DMS used-car acquisition technology

AutoVision's technology helps dealers and automotive companies boost efficiency and automate buying, selling and vehicle inventory management.



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Carvana says it expects adjusted profit of more than $50M in Q2; shares surge

The announcement sparked a rally for Carvana shares on Wall Street on Thursday.



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Redwood Materials races to put recycled materials into EV batteries

Redwood Materials, the battery recycling company founded by Tesla co-founder JB Straubel, is moving quickly to bring anode and cathode active material production back to the U.S.



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Safety products supplier Autoliv will cut 8,000 jobs, close European sites

Autoliv will cut 11 percent of its workforce and close several of its sites in Europe, with the new initiatives expected to be fully implemented by 2025.



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Wednesday, June 7, 2023

UAW gears up for fight over battery worker pay

The dispute could be lengthy and complex, since the 18,000 or so workers that General Motors Co., Ford Motor Co. and Stellantis NV plan to hire in the U.S. will work for a patchwork of joint ventures not covered by existing labor contracts.



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GM to get renewably produced steel from ArcelorMittal

Material will be supplied from ArcelorMittal Dofasco in Hamilton, Ontario, and shipments are expected to begin in the second quarter of 2023.



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Volvo guns for Gen Z with budget-priced electric crossover

The 2025 Volvo EX30 starts at $36,145 and arrives in the U.S. next summer.



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Consumer Reports campaigns for free crash notfication feature in all new vehicles

More than 20,000 consumers signed the organization's safety petition in its first three days.



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Tuesday, June 6, 2023

Stellantis puts Kuniskis in charge of Ram, moves Koval to Mopar

Dodge CEO Tim Kuniskis also will be Ram's CEO starting July 1. He replaces Mike Koval Jr., who will head the Mopar North America parts unit instead.



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GM Oshawa getting $280M upgrade to build next-gen heavy-duty ICE trucks

General Motors will spend $280 million to retool its Oshawa Assembly Plant northeast of Toronto so it can build the next generation of internal combustion engine (ICE) full-size trucks.



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Chinese startup claims breakthrough with EV battery that overcomes cold weather

Chinese unicorn Greater Bay Technology says its new Phoenix cell can heat the battery back from -4F to 77F in five minutes, allowing it to operate as normal and charge within six minutes in all weather conditions.



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Monday, June 5, 2023

Ferrari does not need to buy other supercar makers, CEO says

"I don't think it makes sense for us to buy other supercar makers," Vigna said during a conference organized by Bloomberg.



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China's EV battery sector is preparing a new breakthrough

One of China's top battery-makers reckons it has cracked a technology to provide even cheaper and more powerful packs for electric vehicles.



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Advance Auto Parts shares are set for their worst week ever

Shares slumped 40 percent last week, the largest four-day drop since the stock began trading publicly in 2001.



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China's EV battery sector is preparing a new breakthrough

One of China's top battery-makers reckons it has cracked a technology to provide even cheaper and more powerful packs for electric vehicles.



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Longtime listener, last time caller? Inside the fight over AM radio in EVs

Automakers say the EV interferes with the AM radio signal, but legislators say AM radio remains crucial for emergency alerts.



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Toyota's next hydrogen powered vehicle will be a Crown sedan

Toyota hopes the addition of the fuel cell Crown will propel worldwide fuel cell sales to 8,000 vehicles in the current fiscal year, from 3,000 the year before. It's unclear whether the vehicle will come to the U.S.



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Sunday, June 4, 2023

Rising incentives, inventory propel May sales

May marked the industry's 10th consecutive monthly sales increase as an industrywide inventory recovery continued.



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Flying car startup fizzling in Mich.

The founder of Airspace Experience Technologies has been looking at sites outside of the state to potentially move his startup, and he even considered trying to sell it.



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Saturday, June 3, 2023

New Texas partnership buys Stellantis, GM and Kia dealerships

A veteran auto retail executive and Kia dealership general manager have bought three dealerships in Texas in a new partnership.



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GM Financial: Leasing won't return to '19 levels this year

The percentage of GM's sales that were leases rose slightly to 16.5 percent in the first quarter from a low of 13.9 percent in the third quarter of 2022, according to GM Financial data.



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Friday, June 2, 2023

GM battery materials investment in Quebec to top $1 billion

General Motors and South Korea's Posco Future M said they will invest more to expand the production capacity at their chemical battery materials facility in Canada, taking their estimated total investment in the plant to over US$1 billion.



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Stellantis, GM pay $363 million in U.S. fuel economy penalties

The record-setting penalties include $235.5 million for Stellantis for the 2018 and 2019 model years and $128.2 million for GM covering 2016 and 2017.



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Kia, Hyundai struggling with antitheft software fix

Kia and Hyundai have notified dealers that there are problems with a software fix that's being offered as a way to prevent vehicles from being hot-wired.



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Thursday, June 1, 2023

Canadian partners buy first dealership, in the U.S.

PATH Auto Group partners Phil Alalouf and Todd Hewitt in April purchased their first dealership, a Volkswagen dealership in California.



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Infiniti gets new global boss with Jose Roman

Jose Roman, a native of Ecuador, joined Infiniti parent Nissan Motor in 2012 and has more than 25 years of automotive experience in such markets as Mexico, Colombia, Brazil and Japan. He takes the helm of Infiniti on July 1.



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Rivian may lose Nasdaq spot after 90% selloff, JPMorgan says

The index typically removes the smallest members of the Nasdaq 100 if the company is weighted at less than 0.1 percent of the gauge for two consecutive months.



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Ford sues Blue Cross Blue Shield in antitrust case over ‘astronomical' profit

Ford sued Blue Cross Blue Shield Association in U.S. court on Wednesday, accusing it of a price-fixing conspiracy that caused the automaker to pay inflated costs for health insurance products for its employees.



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Rivian cancels ‘tank turn' feature to prevent trail abuse

CEO RJ Scaringe says the R1T pickup can spin like a tank — as shown in a viral 2019 video — but the potential for environmental damage is too great.



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Toyota snaps losing streak; Honda surges again; Hyundai, Kia post double-digit gains in May

U.S. light-vehicle sales are forecast to rise 18-20 percent in May, as retail selection improves, consumer incentives rebound and automakers fill a backlog of fleet orders.



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Subaru's Jeff Walters: Lean inventory levels finally improving

Subaru of America President and COO Jeff Walters, who succeeded CEO Tom Doll on April 1, says the brand's lean inventories are starting to finally grow as production constraints ease, which can only help its retailers.



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Nvidia CEO plans trip to meet China executives despite U.S. curbs, report says

Nvidia is a key player in the booming field of artificial intelligence, but its position in China has been complicated by U.S. sanctions, which prevent the company from selling its most advanced AI chipsets to Chinese customers.



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