Some dealership groups are creating standalone brands as they launch new online sales tools with the goal of reaching new customers and diversifying operations.
Elevated used-vehicle pricing continues to pose a challenge to the used-only vehicle ventures of Sonic Automotive and Penske Automotive Group.
Most automakers reporting earnings last week said they expect better microchip supplies in the second half of 2022 and remained profitable despite stubbornly low inventories.
The past few years have ushered in dozens of changes in the realm of safety technology, in manufacturing practices and in connected vehicles. These are 25 of them.
The tool is fostering engagement with online shoppers and helping the store sell more accessories, managers say.
Rivian is expanding its service centers in the U.S. and opening its first store in Canada as sales rise. EV startups face service challenges compared with legacy automakers.
Leaders of the two companies said they began speaking about a potential acquisition in March.
Four dealership groups, including a growing retailer from Canada, completed second- and third-quarter transactions across four states.
The vehicle is due in 2027, according to Alfa's boss; it remains unclear if it will be a sedan, SUV or crossover.
For Toyota, this win has particular significance: In the Build Back Better legislation that fell apart last year, President Joe Biden had called for an EV credit that would’ve provided extra incentives on union-made cars.
GM sold environmentally friendly bonds for the first time ever, tapping into the sustainable debt market to fund the transition to EVs.
Denso adjusted its estimate of vehicle production to a 10 percent shortfall for each of quarter from the second quarter onward, CFO Yasushi Matsui said.
As part of the tax credit, automakers would be subject to annual increases in sourcing requirements for minerals and battery components used in eligible EVs and limited to sourcing from countries with a free trade agreement with the U.S. such as Canada and Mexico — a caveat aimed at reducing reliance on China.
Porsche, which has already started developing a F1 engine, would reap marketing benefits as the race series becomes more popular in the U.S. and China.
Toyota's overseas output climbed 5.6 percent to 3.35 million vehicles through June, while production in Japan fell 18 percent to 1.73 million units.
The strong performance was supported by sales of high-margin vehicles, including electrified models, CFO Richard Palmer said.
The automaker expects its product mix to normalize in the second half as chip supply improves and the company benefits from a strong order backlog.
Toyota's overseas output climbed 5.6 percent to 3.35 million vehicles through June, while production in Japan fell 18 percent to 1.73 million units.
The strong performance was supported by sales of high-margin vehicles, including electrified models, Chief Financial Officer Richard Palmer said.
Toyota said heavy rains, especially in its home prefecture of Aichi in central Japan, impacted procurement of parts and will force it to stop production at a total of three lines in two domestic factories.
CEO Adrian Hallmark did not give a reason for the delay of the EV, which is part of the Audi Artemis project. Bentley plans to be an all-electric brand by 2030.
Penske Automotive Group Inc.'s second-quarter net income jumped as the company recorded its most profitable quarter ever, even amid a slight drop in revenue and lower new- and used-vehicle sales.
South Korean automakers Hyundai and Kia say they will collaborate with a group of research institutes to develop "mobility solutions" for the moon.
Valeo said it was particularly pleased with its order intake, especially relating to vehicle electrification and advanced driving assistance systems.
The automaker predicted healthy demand for its models during the second half with solid order books indicating demand continues to outstrip available cars.
Lucid has named Evelyn Chiang, a former Tesla executive, as vice president of process transformation. Walter Ludwig, formerly of Mercedes-Benz, has joined as vice president of global logistics.
The automaker said it expects stronger results in the second half of 2022 to meet its existing guidance of $13 billion to $15 billion in adjusted earnings.
The automaker said it expects stronger results in the second half of 2022 in order to meet its adjusted earnings guidance of $13 billion to $15 billion.
With the latest deals, GM said it had lined up supplies for all battery raw materials, including lithium, nickel, cobalt and cathode active material
Morgan Automotive Group was among the buyers in first- and second-quarter acquisitions that expanded four dealership groups across four states.
Faraday is pushing back the start of production and deliveries of its first electric SUV to the third or fourth quarter of this year.
The series details every brand's new and refreshed models for the next five years.
LMP Automotive Holdings Inc. in July fired its CFO and said it plans to sell a Stellantis dealership in New York. The company also has hired BofA Securities to help it explore strategic options for the company.
Automakers have strategically placed assembly plants in small-town America with the promise of attractive, well-paying jobs in low-cost areas. A weakness has been exposed in that once solid formula.
Bring your questions to a conversation about the Federal Trade Commission's proposed new rules for dealership online advertising and F&I offices.
After months of production setbacks because of scarce microchips, automakers appear to be getting some relief.
Jerry Hirsch has joined Automotive News as a news editor. He joins the growing mobility team that covers technology and trends reshaping transportation.
The automaker plans to launch at least three mass-market EVs powered by its Ultium batteries next year and have close to a dozen mainstream electric options on sale by 2026.
Contract talks continue for union workers at ports that are crucial hubs for the U.S. auto industry.
New VW Group CEO Oliver Blume has hammered home the importance of teamwork and bringing workers into decision-making -- something his predecessor Herbert Diess struggled with.
Diess set Tesla as VW's benchmark, not traditional rivals such as Toyota or GM, but his habit of speaking his mind upset key people at the automaker.
New VW Group CEO Oliver Blume has hammered home the importance of teamwork and bringing workers into decision-making -- something his predecessor Herbert Diess struggled with.
A packaging supplier is saving Yanfeng Automotive millions on its shipments from Mexico.
Self-driving tech company Zoox is getting ready to join a field of competitors carrying passengers in autonomous vehicles. The company offered a sneak peek in the Bay Area last week.
The Tech 120 Program is an all-expenses-paid technician recruitment and development program designed to help interested applicants with limited experience eventually become a master technician within the dealership's main shop.
Members of the industry, family and friends from across the country and overseas gathered in Detroit for the 2022 Automotive Hall of Fame Induction and Awards Ceremony.
AutoNation Inc. plans to buy auto lender CIG Financial to serve as a captive finance company for the auto retailer's growing, standalone AutoNation USA used-vehicle business.
Dealership groups and a dealer bought single stores in first-quarter and second-quarter transactions across four states.
The production car — billed by Cadillac as the "standard of the world" — will be custom commissioned, meaning many features and materials, such as knobs, color trim, seating and even headliners, will be available from a menu.
Porsche is ahead of Ferrari and Aston Martin when it comes to electrifying its lineup but behind Tesla.
Tesla is racing to increase output to around 2 million a year after slow ramp-ups at its new factories in Berlin and Texas. The automaker's California factory is at record levels and China is expanding after a second-quarter shutdown.
J.D Power's U.S Automotive Performance, Execution and Layout Study measures owners' "emotional attachment and level of excitement" after purchasing a new vehicle.
EV startup Rivian is finally beginning deliveries of its custom-built electric delivery vans to Amazon, an early investor in the company.
A surge in thefts of Hyundais and Kias is plaguing U.S. cities, with thieves learning on social media how to bypass security features in some models.
Stellantis NV is planning to lay off 40 workers at its Warren Stamping Plant, effective Monday — the latest in a series of local cuts.
The layoffs include 28 production workers and 12 skilled trades workers, according to a United Auto Workers Local 869 memo posted on Facebook.
The Detroit News first reported the layoffs.
"In order to operate the plant in a more sustainable manner, Stellantis confirms that there will be indefinite layoffs at the Warren Stamping Plant in Warren, Michigan, effective July 25," spokesperson Ann Marie Fortunate said in a statement. "The company will make every effort to place the laid off hourly employees into open full-time positions as they become available based on seniority."
Last month, the automaker — whose North American headquarters is in Auburn Hills — said it was cutting an undisclosed number of jobs at its Sterling Heights stamping plant, effective June 20, for the same reason: "... to operate the plant in a more sustainable manner."
Stellantis will also cut an unknown number of jobs at its Trenton Engine Complex when it decommissions its north plant there by the end of this year. The company said last month that it is investing $24.7 million to rework its Trenton facilities.
Using lithium iron phosphate cells in the Mustang Mach-E and F-150 Lightning will reduce material costs for those vehicles by 10 to 15 percent, Ford said.
Both automakers want to deploy up to 2,500 vehicles a year, the maximum allowed under the law, for ride sharing and delivery services.
Lithia Motors expanded its presence in northern California with the purchase of a standalone Ford dealership last week.
Ford Europe has stopped taking orders for the models as deliveries stretch into 2023 because of supply problems.
With competition increasing, electrification coming and Aston Martin moving into new segments, the British ultra-luxury brand is rolling out a new global marketing campaign centered around the words "Intensity. Driven."
Quarterly profit rose to 10.8 billion Swedish crowns ($1.06 billion), helped by the listing of EV subsidiary Polestar.
Ally wrote $13.3 billion in auto loans and leases during the second quarter, a 2.3 percent increase from a year earlier and the highest quarterly origination value since 2006. But the lender said accounting rules required it to set aside money as a provision against these loans losing money, which contributed to its 50 percent drop in auto finance income.
Scott Keogh, CEO of VW of America, will be the new CEO of the German automaker's nascent Scout brand, effective Sept. 1. He will be replaced by Pablo Di Si, who leads VW's operations in South America.
AAA said 77 percent of respondents indicated a strong desire to save on fuel costs.
The Penske Automotive luxury dealership said the 20 terminated workers "unlawfully condoned and encouraged blatant picket line misconduct."
Illinois said it suspended sales again because Carvana was not transferring titles within 20 days of sale nor issuing Illinois temporary registrations to Illinois buyers.
Toyota said it will work with minivehicle specialists Daihatsu and Suzuki to develop small electric commercial vans.
In his email to employees, CEO RJ Scaringe said the company is "financially well positioned," but that it has begun "prioritizing certain programs (and) stopping some."
Electric vehicle-only automakers are trailing other premium brands in shopping experience satisfaction, a new report from retail service tracker Pied Piper found.
Since 2016, NHTSA has opened 37 special investigations of crashes involving Tesla vehicles and where advanced driver assistance systems such as Autopilot were suspected of being used.
The move comes after Stellantis failed in its attempt to take control of the joint venture.
The Raptor R fails to beat the Ram 1500 TRX's 702 hp, but officials argue its better power-to-weight ratio is more important for desert-racing enthusiasts.
The move comes after Stellantis failed in its attempt to take control of the joint venture.
The world's largest battery manufacturer for EVs is considering Ciudad Juarez, in the state of Chihuahua, and Saltillo, in Coahuila, according to people familiar with the deliberations, Bloomberg reported.
With consumer confidence falling and the Federal Reserve raising interest rates to fight inflation, online used-car sellers may see little growth in demand in the coming quarters.
With traffic fatalities rising, the council says its current approach to traffic safety "isn't working," and it will now prioritize the well-being of vulnerable road users such as pedestrians and cyclists.
With consumer confidence falling and the Federal Reserve raising interest rates to fight inflation, online used-car sellers may see little growth in demand in the coming quarters.
Manchin, a conservative Democrat from coal-producing West Virginia and a key swing vote, has been negotiating a narrower budget reconciliation package after blocking a larger $2 trillion plan, including a provision for an enhanced EV tax credit.
Four growing dealership groups acquired stores in first-quarter and second-quarter acquisitions.
Vietnam's VinFast opens its first six stores in California on the way to delivering two electric crossovers in the U.S. this year. Executive Craig Westbrook says the newcomer will need to gain consumer trust in product and service.
Automakers including Ford Motor Co., General Motors Co., Stellantis NV and Toyota Motor Corp. will have a major presence at the auto show in Detroit this September, but not in the same way as shows past, according to organizers.
As the Sept. 14-25 event draws nearer, plans are solidifying for the North American International Detroit Auto Show. Note that "Detroit" was inserted into the name of the event for the first time since it took the "international" moniker in 1989. The Detroit show dates back more than a century but has been shelved since 2019 because of schedule changes and the COVID-19 pandemic.
"We want to create something here, a hallmark event that we can build on in the future, that people will want to go to and celebrate what we're all about here in Detroit," Alberts said Wednesday between meetings downtown where he was sizing up the new and expanded show footprint. "And we know that we can do it in such a way that all of downtown is going to be energized."
There will be plenty of reasons for media and industry insiders to attend, including new vehicle debuts, said Rod Alberts, executive director of the Detroit Auto Dealers Association, which produces the show.
There will be an even bigger emphasis on general consumers, Alberts said, with experiences including Bronco Mountain, indoor rides in Maseratis, Lamborghinis and other luxury cars, and electric vehicle rides along the future downtown circuit of the Grand Prix.
While organizers have trickled out some details of the new indoor-outdoor "hybrid" show and accompanying Charity Preview, much has remained behind the curtain. Tickets went on sale Monday for the show and its charity event.
The traditional auto show part of the event will happen within Huntington Place as with past iterations, Alberts said.
Rather than "big, Taj Mahal" displays that attendees are used to, automakers are investing more in experiential activations, like Bronco Mountain — a rollercoaster-like metal and wood structure designed to flaunt the power of Ford's popular SUV. The "mountain" premiered at Motor Bella and will be erected inside the downtown convention center.
Also new this go-around will be an indoor track on which attendees can be driven around the showroom in luxury vehicles, Alberts said. Outside, attendees will have the chance to take a spin downtown as passengers inside new EVs.
"(Grand Prix Chairman) Bud Denker and his crew have laid out a great track for downtown, and we might as well just run the same course," Alberts said. "It's a chance to feel what that technology is all about."
Alberts said the show has secured participation from 35 brands, with five major activations inside the showroom.
"There are reveals we hear that are coming. There will be debuts," Alberts said, declining to offer specifics. "They really want to show it off here because this is the hometown for these manufacturers, plus we can make it a hallmark location for people to come to, not just from Southeast Michigan, but around the country."
Crain's inquired to GM, Ford and Stellantis about their auto show plans, but the companies did not provide details.
"We're excited the show is returning to Detroit and we look forward to sharing our plans closer to September," Ford spokesman Mike Levine said in an email.
Ford is planning to sponsor the traditional AutoGlow event supporting the Children's Foundation, according to a memo obtained by Crain's. The event will be hosted at Ford Field in an "elegant outdoor space" with a gourmet dinner, open bar, entertainment and shuttles between Ford Field and Huntington Place.
On the non-OEM side, the show is on track to have more than 100 sponsors and partners, with more expected to sign up in the coming weeks, said Tavi Fulkerson, founder of The Fulkerson Group, which has handled sponsor activity for the auto show since 1992.
This year's show is not expected to bring the same number of journalists and auto writers as previous shows. The media preview has been condensed from two days in 2019 to one day, Sept. 14, shared by Industry Tech Day.
In 2019, there were 4,568 media members from 60 countries in to cover 44 vehicle reveals, including 31 world debuts, organizers said.
"I don't see that reoccurring that same way anymore," Alberts said. "If you get 1,000, 2,000 (media members), you're going to cover 90 percent of the landscape anyway."
The outdoor aspects of the show, aside from the Grand Prix circuit ride-along, have remained mostly under wraps, as have details on the Charity Preview, scheduled for Sept. 16.
The fundraising event will take place at Huntington Place with two yet-to-be-named musical acts and a third act in Hart Plaza, Alberts said.
In 2019, ticketed attendance totaled 774,179. Alberts said it's too early to predict numbers this year, but believes 400,000 would be a solid turnout.
"There will be a heavy emphasis on the consumer side and the experience of the consumer," Alberts said. "But because we are Detroit, I think it also presents an opportunity for others to gather and still conduct business here. I mean, why not come in and look at competitors' products on the show floor?"
An anonymous letter sent to California regulators by someone claiming to be a Cruise employee says the self-driving tech company hid crash information from employees who worked on critical safety systems. An official from the California Public Utilities Commission says the letter is being reviewed.
Saudi Arabia's sovereign wealth fund will own 16.7 percent stake in Aston Martin and will be entitled to two board seats.
The 2023 Toyota Crown, built in Japan, will feature a hybrid powertrain and replace the large Avalon sedan in the brand's U.S. lineup.
The slumping stock market and rising interest rates have made it tougher for new companies to raise fresh capital from investors. That intensifies pressure to start building and selling vehicles, and to slash expenses.
The Ioniq 6 will be able to compete with Tesla in the volume EV sedan sector because of its competitive pricing and long driving range, analysts said.
Tesla's top artificial intelligence executive and a key figure behind its driver-assistance system Autopilot is leaving the EV maker.
The slumping stock market and rising interest rates have made it tougher for new companies to raise fresh capital from investors. That intensifies pressure to start building and selling vehicles, and to slash expenses.
Competitors that have not committed to EVs must decide "whether they can ride two horses at the same time," Volvo's new CEO, Jim Rowan, told Automotive News Europe.
Panasonic has been looking for potential factory sites in Kansas and Oklahoma to supply batteries to Tesla's new assembly plant in Texas.
The slumping stock market and rising interest rates have made it tougher for new companies to raise fresh capital from investors. That intensifies pressure to start building and selling vehicles, and to slash expenses.
Morrie's Auto Group of suburban Minneapolis expanded its presence in the area with an acquisition this month of domestic dealerships.
Edward Hightower was promoted to CEO at Lordstown Motors in Ohio after being president of the company. He has held several engineering, strategy, brand marketing and senior executive roles for GM, Ford and BMW.
Walmart's deal to back Canoo includes a provision preventing sales to rival Amazon.
Volvo's EV unit Polestar increased sales 125 percent to 21,200 electric vehicles during the first half, nearly matching its full-year volume from last year.
Twitter’s suit, filed Tuesday, cites no fewer than 13 Musk tweets in setting out the arc of the billionaire’s infatuation with the service, which started with the pun of “love me tender” before his bid in April.
Panasonic plans to boost battery density by using a new mix of additives to allow individual cells to run at a higher voltage without damaging battery performance.
Bosch plans to spend more than $3 billion to satisfy a growing demand for microchips in Europe — but the move could help ease the global chip shortage in general.
The independent dealer trade group estimates compliance would require at least $1.4 billion during the next 10 years, "driving up prices for consumers and making the car-buying process longer and more difficult."
The EV factory is seen as vital to Hyundai's survival as sales of combustion engine vehicles are scheduled to be banned in key markets.
Continental, which already operates 21 plants employing 20,000 employees in Mexico, is expanding its North American operations.
In early 2024, Lexus will open a world head office in a secretive mountain complex shrouded in cedar forests. Executives say the facility will not only revolutionize the way Lexus develops cars but speed the brand's shift into the EV era.
Facing a global shortage of semiconductor chips and other supply-chain disruptions, automakers in Europe are offering fewer options for cars so customers can get their new cars quickly.
The series of tweets on Monday was Musk's first public response since he made public his intention to ditch the offer on Friday because Twitter had breached multiple provisions of the merger agreement. Twitter begged to differ.
The series of tweets on Monday was Musk's first public response since he made public his intention to ditch the offer on Friday because Twitter had breached multiple provisions of the merger agreement.
The EV maker, which has more than 14,000 employees, could target an overall reduction of around 5 percent, sources told Bloomberg. The layoffs are still in the planning stage and nothing has been decided.
The automaker is working to build an operating system that is capable of frequent over-the-air updates to enable enhancements such as full autonomous driving for a set distance as a way of getting ahead of Tesla.
With our 11th 40 Under 40 class, Automotive News enters a second decade of recognizing young dealership leaders. This year's stars have led digital retailing transformations, found new ways to stock vehicles during an inventory crisis and chipped away at the industry's recruiting challenges. We congratulate them and hope you enjoy reading their stories.
Acura, which has its sights set on returning to 200,000 annual U.S. sales, is working to reach younger and diverse consumers through various pop culture-themed marketing efforts.
Stellantis has updated the 2022 Jeep Compass with a redesigned interior and a new infotainment system in hopes that the compact crossover will be more competitive in a hotly contested segment. So far, there are some promising signs.
The union is in negotiations with the Pacific Maritime Association for a new contract. Central to it is certain to be new investments in port automation to speed up container movement from Asia.
Digital payment platforms are being used at some of the nation's largest dealership groups as an option vehicle sellers can select to receive payments.
During a facility upgrade that forced managers and salespeople to work in trailers, Jaguar Land Rover Norwood in Massachusetts created a game to boost morale and increase sales.
Akio Toyoda, in his role as chairman of the Japan Automobile Manufacturers Association, expressed shock and sadness at the killing.
Tesla's global sales suffered in the second quarter from a plant shutdown in China and a slow ramp-up in Berlin. But new registration data shows strong U.S. deliveries from its original plant in Fremont, Calif.
Lexus' new high-tech yoke steer-by-wire system will be optioned in the upcoming RZ all-electric crossover and offered to U.S. drivers.
Market volatility is expected to continue through at least next year and economic experts are predicting a recession in the first half of 2023.
Four dealership groups bought dealerships in separate second-quarter transactions to grow their portfolios.
