More stable new-vehicle assembly meant higher sales numbers in the first quarter for many North American suppliers, another welcome sign for parts makers hoping for more consistent production schedules form automakers. Source: autonews.com … [Read more...]
Linamar's Q1 earnings an 'excellent' start, but CEO warns of delays to EV programs
Canadian auto supplier Linamar recorded double-digit growth on both its top and bottom lines in the first quarter of 2024 as volumes bounced back from a slow comparable period a year earlier. Source: autonews.com … [Read more...]
What will high vehicle prices and interest rates mean for the auto finance market in 2024?
Automotive News asked five auto finance experts to share their thoughts on these challenges and what affordability constraints might mean for the months ahead. Source: autonews.com … [Read more...]
N.Y. Chevrolet dealership introduces delivery coordinator position to foster employee growth
Mohawk Chevrolet in Ballston Spa, N.Y., has created a delivery coordinator training position to improve employee retention rates and elevate the customer experience. The position was rolled out in 2020 to address the store's high turnover rates, said assistant general manager Kaitlin Gautusso Duncan, who helped launch the program. She said the role has improved customer experiences while fostering … [Read more...]
Biden set to hit China EVs with tariffs, report says
The tariff rate on electric vehicles is expected to quadruple from roughly 25 percent to 100 percent, The Wall Street Journal reported Friday, citing people familiar with the plans. Source: autonews.com … [Read more...]
Chemicals used to meet NHTSA flammability standard might be carcinogenic, study finds
Potentially carcinogenic chemicals used to meet auto safety regulators' flammability standards were present in essentially all vehicles tested in a study from the Green Science Policy Institute and Duke University. Source: autonews.com … [Read more...]
Riches of UAW deal backfire on some at Stellantis
The UAW has been outraged over multiple rounds of layoffs since ratifying a new contract with Stellantis that the workers thought would improve their lives. Source: autonews.com … [Read more...]
Struggling Our Next Energy taps consultant to help battery maker raise funds
Electric vehicle battery startup Our Next Energy Inc. hired a Chicago-based financial consultant specializing in distressed businesses in its quest to rebound from a failed Series C fundraising round. The suburban Detroit battery manufacturer recently tapped Birch Lake Partners, a merchant bank known for its work with struggling startups, two sources with … [Read more...]
Top 5 stories of the week: Earnings from Rivian, Toyota and Nissan; GM's fleet strategy
A quick look at the top automotive stories of the week as determined by reader interest. Source: autonews.com … [Read more...]
Protesters attempt to storm Tesla German plant, clash with police
A video showed dozens of people wearing blue caps and face-covering masks coming from a nearby wooded area and attempting to storm the company's premises with policemen trying to prevent them. Source: autonews.com … [Read more...]
CarGurus reports net income jump, more digital wholesale losses
The vehicle listings company said its marketplace revenue grew by double digits and work to overhaul its wholesale business is continuing. Source: autonews.com … [Read more...]
Carvana says price gap between used EVs and ICE cars narrows
Online auto retailer Carvana says its average used-EV sale price fell to $31,000 in the first quarter. Source: autonews.com … [Read more...]
Mazda dealership milestone represents new era for the brand
The Retail Evolution facility program is a critical part in its goal to move upmarket. Source: autonews.com … [Read more...]
China's vehicle exports hit record high in April as domestic sales fall
Facing trade threats in Europe, Chinese automakers have been actively exploring South America, Australia and ASEAN markets for exports. Source: autonews.com … [Read more...]
Ford hires former Lucid exec Sherry House as incoming CFO
Ford is promoting CFO John Lawler to vice chair, focusing on strategic development, global partnerships and engagement with global leaders. Source: autonews.com … [Read more...]
Zeekr tops IPO goal to raise $441 million
The listing by EV upstart Zeekr is the biggest by a China-based company in the U.S. since Didi Global’s $4.4 billion IPO almost three years ago. Source: autonews.com … [Read more...]
NHTSA probes 200,000 Ford Super Duty trucks for risk of fire
NHTSA said it received 27 complaints alleging diesel fuel leaks due to a "a fracture in the secondary fuel filter housing." The proximity of the secondary fuel filter to high heat sources could result in fire, NHTSA said. Source: autonews.com … [Read more...]
NHTSA probes 6,813 Fisker Ocean crossovers for unexpected automatic emergency braking activation
U.S. auto safety regulators are investigating Fisker Inc. after reports of unexpected activation of its automatic emergency braking systems. Source: autonews.com … [Read more...]
CEO Makoto Uchida's report card for Nissan's midterm plan
Here's a report card on how the Japanese carmaker fared under the Nissan Next midterm business plan that CEO Makoto Uchida just wrapped up. Source: autonews.com … [Read more...]
Column: Why does Wall St. value Tesla 40% higher than Toyota?
Both face headwinds, but Toyota earned twice as much as Tesla in the most recent fiscal year. Source: autonews.com … [Read more...]
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