Tesla said it will largely abandon its long-controversial retail model of factory-owned stores, turning instead to an equally radical model for selling vehicles — online sales only.
The Model 3, when first shown off by CEO Elon Musk in March 2016, was promised to be a $35,000 car -- before incentives -- to appeal to the mass market. But Tesla had never managed to sell the car at that price.
Canada's auto industry was left on the sidelines in a major spending commitment by Fiat Chrysler Automobiles this week, just as analysts were raising concerns about the future of the company's Brampton, Ont. assembly plant.
Kia said it is recalling 378,000 2012-2016 Kia Soul vehicles over engine damage and fire risks, while Hyundai and Kia are recalling 155,000 2011-2013 Tucson vehicles and 2011-2012 Sportage vehicles over possible oil pan leaks in a separate callback.
Wall Street analysts have estimated Lyft could be valued at between $20 billion and $30 billion in the IPO, and Uber at around $120 billion.
A Hyundai spokeswoman said that the automaker is "reviewing various optimization plans to enhance facility efficiency" and has begun voluntary retirement for employees in China.
Daimler and BMW have signed a memorandum of understanding to jointly develop the next generation of autonomous-driving technology, which should be market-ready by the middle of the next decade.
Ferrari said the 710-hp F8 Tributo will be its most powerful V-8 engine production model to date. It is lighter and more aerodynamic than the 488 GTB it replaces.
Carlos Ghosn and his new team of lawyers have made a third application for bail in Japan, seeking to end an incarceration that has lasted 100 days.
Despite an uptick in serious auto loan delinquencies, the 30-day delinquency rate is improving, according to Experian.
Apple said in a filing with state regulators that it planned to lay off people from eight different Santa Clara County facilities near its Cupertino, Calif., headquarters, as of April 16.
Trucking parts supplier Wabco said it has been approached by Germany's ZF Friedrichshafen and "has engaged in preliminary discussions concerning a potential transaction."
Any new rules on EV tax credits should restrict companies that close plants and move them offshore from receiving the benefit, Rep. Debbie Dingell said.
ZF Friedrichshafen's supervisory board has already discussed a potential acquisition of Belgium trucking parts supplier Wabco, a German newspaper reported.
Tesla's share price was already nowhere near the necessary level to help convert its $920 million in bonds to stock. Meanwhile, CEO Elon Musk changed his Twitter display name to "Elon Tusk" in another late-night flurry of tweets.
The Detroit automaker's joint venture with Changan Automobile Group has decided not to renew its contract with some of the agencies.
