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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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LMP Automotive under contract to sell 2 more dealerships as it continues plans for liquidation

Morgan Automotive Group closed on the purchase of two Kia dealerships from LMP Automotive Holdings in December. LMP Automotive sold another dealership in Tennessee and said it is under contract to sell two more franchised stores.

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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.

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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."

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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.

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TuSimple to lay off 25% of workforce

The self-driving truck company seeks to chart a course out of the economic upheaval that has been raging throughout the year.

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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.

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Column: Cheers to a more normal new year in the auto industry

While there are still lingering effects from the last couple of crisis-filled years, the industry is edging back to some semblance of normalcy.

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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.

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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.

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LIFO tax relief for dealers left out of $1.7 trillion government funding bill

The nearly $1.7 trillion omnibus spending package was seen as one of the last legislative vehicles for a bill that would have provided relief to dealerships that use the "last in, first out" inventory accounting method.

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Automakers, suppliers, China Inc. struggle as COVID cases spike

VW Group wants COVID-free workers to work longer hours at a factory in southern China, with a raft of employees out sick with the virus.

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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.

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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.

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Porsche ramps up work with electricity-based synthetic fuels

Porsche-backed HIF Global's eFuel plant in Chile will produce 14.5 million gallons annually by mid-decade.

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EPA finalizes tough new emissions rules to cut smog from heavy duty trucks

The new standards, the first update to clean air standards for heavy duty trucks in more than two decades, are 80 percent more stringent than current standards.

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Buick dealers face at least $300,000 investment to sell and service EVs

The General Motors brand said the minimum investment required of U.S. dealerships for tooling, training and other EV equipment is an estimated average and will vary based on the individual dealership.

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Magna to buy Veoneer Active Safety for $1.53 billion in bid to boost ADAS business

The deal, expected to close by mid-2023, gives Magna access to Veoneer's suite of camera and radar systems, as well as its driver monitoring technology and domain controllers. Magna will gain about 2,200 engineers, most of which work in key systems, software and sensor development areas.

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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.

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Canadian supplier Magna to buy Veoneer Active Safety for $1.53 billion

The deal is expected to add to Magna's sensor and full systems capabilities, including radar, camera and driver monitoring, and add 2,200 engineers for systems, software and sensor development.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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Economy chills investments in EVs and mobility

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

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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.

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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.

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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.

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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.

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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.

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Self-driving trucking firm TuSimple appoints CFO, reconstitutes audit panel

The company reappointed former CEO Cheng Lu as its top boss last month after it fired his predecessor Xiaodi Hou following an investigation.

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For first responders, Waymo provides a guide to the self-driving era

Autonomous vehicles pose specific challenges for first responders. As Waymo expands its service, the company is working to forge connections with police officers, firefighters and rescue crews.

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Toyota, Denso, IBM cooperate to boost Japan's chip competitiveness

A new entity called Rapidus has been tapped by the Japanese government to mass-produce advanced 2-nanometer semiconductors.

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2024 Mustang clocks 486 hp; Dark Horse to hit 500 hp

Ford on Thursday revealed horsepower and torque figures for the seventh-generation pony car, which it said uses its best 5.0-liter Coyote V-8 engine yet.

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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.

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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.

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Google Built-In lets Honda prepare for over-the-air updates

Google Built-In will be added to Honda's 11th-generation Accord, laying the foundation for vehicles to be upgraded through over-the-air updates.

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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.

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Fed downshifts to half-point hike, sees 5.1% rate next year

Fed Chair Jerome Powell previously signaled plans to moderate hikes, while emphasizing that the pace of tightening is less significant than the peak and the duration of rates at a high level.

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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.

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GM recalls more than 825,000 vehicles in U.S. and Canada for daytime running lights that may stay on

Vehicles affected by the recall are the 2021-23 Buick Envision, 2020-23 Cadillac CT4 and CT5, Cadillac Escalade and Escalade ESV, Chevrolet Silverado 1500, Suburban, Tahoe, GMC Sierra 1500, Yukon and Yukon XL vehicles from the 2022-23 model years.

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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.

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Mercedes gears up powertrain network for EVs from 2024

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

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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.

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Lear to build EV parts plant in Michigan to supply GM

The 120,000-square-foot plant will supply battery disconnect units for General Motors. Half of the facility will be dedicated to production while the rest will be used for warehousing, lab, testing and office space.

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Panasonic agrees to supply EV batteries to Lucid Group

TOKYO, Dec 13 (Reuters) - Tesla Inc. battery maker Panasonic Holdings on Tuesday said it had concluded an agreement to supply lithium-ion batteries to EV maker Lucid Group as the Japanese company seeks to expand its customer base.

"Partnerships with technology-leading EV manufacturers such as Lucid are critical to our mission," Kazuo Tadanobu, the head of Panasonic's energy business said in a press release.

Nearly all of Panasonic's automotive battery production currently goes to Tesla. While Panasonic, which plans to build a new $4 billion battery plant in Kansas, is benefiting from Tesla's ballooning demand, officials at the Japanese company are also wary about relying too heavily on one customer.

Lucid will use Panasonic batteries in its long-range Lucid Air and its Gravity crossover, which begins production in 2024, the company said.

In August Lucid halved its EV production forecast blaming extraordinary supply chain and logistics challenges. The company, which says it has 37,000 reservations, now expects to produce between 6,000 and 7,000 luxury electric vehicles this year.

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Rivian's rapid cash use is costly for EV maker's global ambitions

Rivian went public a bit more than a year ago with big plans to take on Tesla and more cash to work with. Rivian has already gone through about a quarter of the money it debuted with.

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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.

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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.

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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.

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Small crossovers struggle to protect rear passengers in tougher IIHS crash test

The 2022-23 Ford Escape, built after May, and the 2021-23 Volvo XC40 were the only vehicles to earn a "good" rating in the institute's updated moderate overlap front evaluation.

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Asbury sells 9 North Carolina dealerships to Hudson Automotive

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

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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.

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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.

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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.

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Rivian, Mercedes pause plans for JV to build electric vans in Europe

The project has been paused as Rivian focuses on its consumer and existing commercial business as it tries to become cash flow-positive in its U.S. operations.

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Geely's premium EV brand Zeekr seeks over $1B in U.S. IPO, report says

The plan comes as the upmarket brand, which competes with Tesla and Nio, sets its sights on marketing its 001 crossover in Europe next year. 

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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.

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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.

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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.

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Mazda's Akira Marumoto: Exploring options

In a world gone EV-crazy, Mazda CEO Akira Marumoto is playing a cautious hand of cards.

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Column: No matter which level of automation automakers choose, the path ahead is fraught with complications

As Ford and others look to Level 3 deployment, many questions will need to be addressed.

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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.

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Zeigler Auto Group's work-life balance focuses on growth, customer satisfaction

Glassdoor Economic Research found Zeigler Auto Group to be among the best U.S. large businesses for work-life balance.

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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.

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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.

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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.

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Shift Technologies, CarLotz shareholders approve merger

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

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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.

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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.

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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.

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Tesla to postpone hiring, shorten shifts at Shanghai plant

Tesla, facing rising inventories, may need to cut prices in China further in the coming year because it increasingly appears to have a demand issue, one analyst said this week.

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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.

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BMW looks into satellite-based Internet service

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

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VW will build long-range electric crossover in Wolfsburg

The Tiguan-sized crossover will use a development of the automaker's MEB electric platform, called MEB+, enabling faster charging speeds and longer ranges.

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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.

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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.

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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.

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Economy, interest rates sour dealer views on market, survey finds

Fourth-quarter Cox Automotive Dealer Sentiment Index polling finds inventory is improving for franchised dealerships. But other variables are rising as concerns.

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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.

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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.

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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.

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New connected vehicle tech requires a reboot of OEM supplier relations, Pace Award execs say

Jeff Chou, from tech startup Sonatus, and John Robb, president of the Hyundai America Technical Center, told the Automotive News Congress that OEMs' traditional procurement procedures need a rethink when it comes to software suppliers and the value they bring to the vehicle.

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BorgWarner to spin off 2 units, doubling down on EVs

Auto supplier BorgWarner Inc. will spin off its fuel systems and aftermarket segments into a separate, publicly-traded company.

After the spin-off, the legacy BorgWarner would consist of two units, its electric propulsion and drivetrain division and air management segments. It's unclear whether the legacy unit or the new unit will move from its Auburn Hills, Mich., headquarters. The combined company employs roughly 49,000 in 22 countries.

The electric propulsion unit manufactures electric motors, power electronics, control modules and software, among other components. The air management segment consists of a turbocharger unit and also emissions and thermal systems as well as battery charging units.

The tax-free spin off is intended to be completed in late 2023, the company said Tuesday. Following the completion, current BorgWarner shareholders would own shares in both companies.

The move is designed to untether the company's legacy internal combustion engine units from the growing electric vehicle segment as automakers continue to double down on an EV future.

"The BorgWarner board believes a strategic spin-off of our fuel systems and aftermarket segments would be the best path forward to further the transformation of our company," Alex Michas, non-executive chairman of the BorgWarner board, said in a statement. "The intended separation supports optimizing our combustion portfolio and advancing our electrification journey while (the spin off) would be able to pursue growth opportunities in alternative fuels, such as hydrogen, and in aftermarket. Ultimately, we expect the intended separation to maximize shareholder value by having two focused and strong companies, each pursuing their respective strategies."

BorgWarner executives believe the move would "ultimately achieve or exceed" its long-stated target of realizing 25 percent of revenue from EVs by 2025 with expectations to boost EV revenue to 45 percent of total sales by 2030. BorgWarner is already on track to achieve 22 percent of revenue from EVs by the target date, with the split expected to boost it above that an extra 3 percent, the company said.

Through the first nine months of 2022, the supplier's air management segment generated revenue of about $5.5 billion with an adjusted operating margin of 13.7 percent, compared to the electronic propulsion and drivetrain segment, which generated revenue of about $3.9 billion and an adjusted operating margin of 6.9 percent.

The units to be divested represent about 31 percent of the current company's total revenue. Through the first nine months of the year, the fuel systems segment generated revenue of approximately $1.7 billion with an adjusted operating margin of 11.3 percent; the aftermarket segment generated revenue of just under $1 billion with an adjusted operating margin of 14.5 percent.

BorgWarner has been an expansion mode in 2022. In February, it completed a nearly $800 million deal to acquire German lithium ion battery maker Akasol.

In October, CEO Frédéric Lissalde told investors during the supplier's third-quarter earnings call it is looking at expanding its U.S. footprint.

Last week, BorgWarner announced the $37.3 million acquisition of Swiss power electronics engineering firm Drivetek.

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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.

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Celebrating the 2022 Automotive News All-Stars

The event honored those who made significant contributions to the industry in a challenging year.
 

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Workers go on strike at key automotive insulation plant in Pa.

The Swiss sound and heat insulation systems supplier works with almost every major automaker, including General Motors, Ford Motor Co. and Stellantis.

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Aurora's Chris Urmson sees self-driving technology shakeout

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

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Audi to lose key AV project in VW Group's new software strategy

VW Group CEO Oliver Blume is expected to scrap Audi's Artemis autonomous driving project under a new software roadmap that he will present at a supervisory board meeting this month.

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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.

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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.

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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.

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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.

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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.

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Used EVs top market for the first time — briefly

The average 3-year-old EV never broke 35 percent of sticker that month pre-pandemic, according to Black Book. But 3-year-old models held 66 percent of sticker price in October.

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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.

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Used EVs top market for the first time — briefly

The average 3-year-old EV never broke 35 percent of sticker that month pre-pandemic, according to Black Book. But 3-year-old models held 66 percent of sticker price in October.

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Kia to drop in on Nissan en route to Times Square

For the third consecutive year, Kia is taking the New Year's Eve numerals on a cross-country road trip.

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AutoNation slowly integrates captive CIG

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

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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.

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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.

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Focusing on basics helps dealership improve service business

To turn around declining service department business, Cole Chevrolet-Buick-GMC in Bluefield, W.Va. focused on improving its processes, updating pricing and tracking performance on sales and profit metrics.

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Tesla kids' toy recalled because of safety flaws

The Cyberquad for Kids sold for $1,900 on the EV manufacturer's website last year.

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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.

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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.

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SiriusXM breach unlocks, starts cars

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

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BMW plans for a hydrogen fuel cell market

Early next year, BMW will roll out a test fleet of hydrogen-powered X5 crossovers. But will there be adequate charging stations?

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GM, Nissan, Audi, Stellantis, Kia, Subaru and Mitsubishi dealerships sell in Q3, Q4 deals

Here's a look at the deals involving domestic, import and luxury dealerships and stores in Illinois and New York.

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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.

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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.

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Automotive News Leading Women Conference: Purpose and impact

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

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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.

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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.

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CarMax appoints longtime employee as COO

Joe Wilson, 49, stepped into the role "effective immediately," according to a document CarMax filed Nov. 18 with the U.S. Securities and Exchange Commission. His annual base salary will be $625,000.

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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.

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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.

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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.

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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.

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FCC declares ringless voicemails illegal without consent

The FCC ruling this month ends a debate over whether ringless voicemails, a telemarketing practice sometimes used by auto dealers, was illegal under federal law.

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Tesla still benefits from California as first semi truck gets delivered

Tesla may now be headquartered in Texas, but it still has a formidable presence in California, where public policy and funding has paved the way for electric passenger cars, and now, electric big rigs.

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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.

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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.

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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.

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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.

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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.

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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.

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VW could partner with Foxconn to revive Scout brand in U.S.

A partnership with VW would be a breakthrough for the Taiwanese smartphone manufacturer's automotive ambitions.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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Tesla owners are keeping GM service techs busy

GM says its retailers have fixed 11,180 Teslas over the past two years.

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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. 

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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Continental names Aruna Anand to lead North American business

Anand, 49, takes over for Robert Lee, who left the company in May to be president and chief strategy officer for battery maker LG Energy Solution.

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Nissan primes the EV pump

Nissan's EV Carefree+ initiative helps address a significant dealer pain point — the impact of low-maintenance electric vehicles on their high-growth fixed ops business.

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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.

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Lithia Motors hires Adam Chamberlain, former Aston Martin Americas president

Lithia Motors has hired Adam Chamberlain as a regional president of operations. He formerly was president of Aston Martin's Americas region.

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VW sees China sales dropping on COVID-Zero policy return

VW expects to sell 3.3 million cars in China this year, on par with the previous year’s results and about a half million fewer than the 3.85 million previously estimated.

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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.

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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.

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Amazon backed out of taking a stake in Argo. Then the self-driving startup folded

The online retailer was prepared to invest several hundred million dollars into Argo last spring, sources told Bloomberg. Amazon planned to use Argo’s self-driving technology to automate some of the electric delivery vans.

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Toyota dials down December output plan after slashing annual target by 500K vehicles

Toyota expects to make only 700,000 vehicles worldwide next month, including 250,000 in Japan and 500,000 overseas.

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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.

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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.

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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.

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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.

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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.

 

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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.

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The latest numbers on the microchip shortage: North America loses 79,000 more vehicles

As the second full year of semiconductor shortages nears an end, automakers are still cutting cars and trucks off the schedule.

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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.

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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.

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V2G charging crucial for EV adoption, report says

Smart, two-way charging could be the key to preventing frequent blackouts and skyrocketing energy prices as millions of EVs plug in to charge.

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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.

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That VW pickup dealers have dreamed about? They'll have to keep waiting

Speaking to journalists ahead of the Los Angeles Auto Show, the new North American and global heads of the Volkswagen brand appeared to dash hopes for a VW variant of the automaker's planned new pickup for its nascent Scout brand.

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Ford recalls more than 572,000 F-150 pickups globally for faulty windshield wipers

Ford is recalling 572,000 F-150 pickups globally because the front windshield wiper motor might stop working.

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Ford recalls nearly 454,000 F-150 pickups for faulty windshield wipers

Ford is recalling nearly 454,000 F-150 pickups in the U.S. because the front windshield wiper motor might stop working.

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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.

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GM projects $2,000 savings per vehicle from digital retailing, regional EV fulfillment

The inventory management change is designed to speed up vehicle delivery times — to as few as four days — and increase efficiency, which will reduce distribution costs.

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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.

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Death tied to defective Takata airbag in Ford Ranger prompts urgent warning

NHTSA said the Takata driver's side airbag inflator ruptured in the 2006 Ford Ranger, which was already under a "do not drive" warning issued in 2018.

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Stellantis recalling 280,000 heavy-duty trucks

Stellantis is recalling 280,000 Ram heavy-duty diesel trucks worldwide for fire risks.

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BorgWarner invests in silicon carbide provider Wolfspeed, gets access to $650 million in devices annually

BorgWarner enters into a partnership with Wolfspeed that will allow it to purchase up to $650 million of silicon carbide devices, in exchange for a $500 million investment into the N.C.-based company.

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NADA backs Senate action on bill targeting catalytic converter thefts

The bill aims to reduce catalytic converter thefts by requiring new vehicles to have the VIN stamped onto the converter, allowing law enforcement officers to link stolen parts to the originating vehicles.

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3 Florida dealerships investigated over lease-end fees

The Florida attorney general says other agencies, including federal, also may investigate after her office received 40 complaints about lease-end fees.

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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.

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Musk won $55B pay deal to ensure 'tenacity' for Tesla, chairwoman testifies; Musk to take stand

Robyn Denholm: "I’m not concerned about the amount of time that he (Musk) spends (at Tesla). He will do whatever he needs to do to achieve a result."

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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.

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Lucid rolls out its entry-level Air Pure EV with 410 miles of range

EV startup Lucid will deliver the first units of a Touring trim, bringing the cost of its large sedan down to compete with luxury rivals.

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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.

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Electric truck stops will need as much power as a small town

The real challenge is how quickly high-speed chargers will need to deliver electricity at a single place and time.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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."

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The latest numbers on the microchip shortage: Fewer cuts, outlook improves

The estimated number of vehicles axed from automakers’ production plans this year because of the microchip shortage fell slightly last week, according to AutoForecast Solutions.

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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.

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NAMAD taps retail outsider as first new president since 2006

Hugene Fields, 35, takes the minority dealer association's reins from longtime leader Damon Lester, who bought his own store last year.

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FTC targets bait-and-switch pricing

An Federal Trade Commission proposal for regulating hidden and unexpected fees follows an earlier plan to do so within the auto retail industry. President Joe Biden highlighted "junk fees" in a speech Oct. 26.

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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.

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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.

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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.

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Self-driving startup TuSimple ousts CEO, independent directors

TuSimple Holdings, the self-driving vehicle startup that recently went through a U.S. national security review, ousted its interim chief executive officer and most of its board.

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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.

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Volvo CEO predicts EV price parity with gas-powered vehicles by 2025

Volvo Cars' CEO Jim Rowan shares his views on the near-term future of EV pricing and government subsidies as his company launches its flagship EX90.

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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.

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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.

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VW brand hires Google exec to head marketing

As chief marketing officer Nelly Kennedy will use her experience with Google to realign VW brand's marketing.

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Safford Automotive buys 16 Brown's Car stores in largest dealership acquisition of 2022

Safford acquired 14 franchised dealerships, a used-vehicle store and a muscle and classic car store from Brown's.

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Cox Automotive selling majority of Canadian unit to Trader Corp.

Cox Automotive, which in 2021 transferred its Canadian operations to the U.S. and parted ways with its Canadian president, told customers Nov. 9 it is selling the majority of its Canadian division to Trader Corp.

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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.

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Safford Automotive buys 16 Brown's Cars stores in largest dealership acquisition of 2022

Safford acquired 14 franchised dealerships, a used-vehicle store and a muscle and classic car store from Brown's.

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Volvo sets lofty sales goals with ‘volume' EX90 flagship EV

High-tech EX90, Volvo's third but biggest electric vehicle, will be priced below $80,000 when it goes on sale in U.S. in early 2024.

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Toyota, Kia, Stellantis, Ford and GM dealerships sell across 5 states

Toyota, Kia, Stellantis, Ford and GM dealerships traded hands in multiple transactions across five states.

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Buyers to split up bankrupt interior parts supplier Gissing

Gissing, a unit of a Chinese automotive supplier, carried about $100 million in liabilities, including $13.3 million owed to Tesla. The company makes interior acoustic and cargo management systems at six plants in the U.S. and Mexico.

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Musk sold $3.95 billion of Tesla stock after buying Twitter

It’s still not clear how the $44 billion Twitter deal ultimately was financed, beyond the roughly $13 billion of debt commitments from Wall Street banks.

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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.

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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 .

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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.

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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

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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 .

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Aston Martin replaces its Americas chief with McLaren veteran

Aston Martin has appointed McLaren veteran Tony Joseph to run its Americas region as Adam Chamblerlain, who joined the British automaker last November, prepares to depart.

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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.

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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.

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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.

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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.

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Automakers ask U.S. Treasury for clarity, flexibility in forthcoming guidance on EV tax credits

Under the recently signed Inflation Reduction Act, the U.S. Treasury Department is required to issue proposed guidance by the end of the year that will further define how to meet the EV tax credit's eligibility constraints.

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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.

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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.

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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 …"

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Lucid sues Texas in attempt to overturn franchise laws

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

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October sales up with higher inventory

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

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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.

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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.

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Used-vehicle profitability tumbles for public dealership groups; Q3 declines range from 11% to 31%

Each of the six major public dealership groups is taking in less gross profit per used vehicle, while a pair of them have seen used-vehicle sales volumes tumble, too.

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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."

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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."

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Mauro Forghieri, iconic Ferrari engineer, dies at 87

Mauro Forghieri has been linked with Ferrari for nearly 40 years and is one of the most significant figures in the company's history.

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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.

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Used-vehicle profitability tumbles for public dealership groups; Q3 declines range from 11% to 31%

Each of the six major public dealership groups is taking in less gross profit per used vehicle, while a pair of them have seen used-vehicle sales volumes tumble, too.

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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."

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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.

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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.

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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.

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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.

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2023 Ford Transit Trail aims for RV crowd

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

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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.

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2023 Kia Telluride adds off-road muscle, higher price

Kia's 2023 Telluride comes with revised styling, a larger interior display and off-road capability — and a bigger price tag.

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Bentley reports record profit in Q3 on sales of niche models

Operating profit for the first three quarters of 2022 was 575 million euros ($568 million), as global economic uncertainty did not dent customer interest, especially for niche models and customization. 

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Aston Martin cuts delivery outlook

The company now expects to deliver as few as 6,200 cars, down from an earlier projection of more than 6,600 units, after parts shortages prevented some 400 autos from being shipped in the third quarter, it said.

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