CEO Toshihiro Mibe wants Honda to adopt a vertically integrated approach to developing and manufacturing its next-generation EVs. Meanwhile, increasing hybrid sales will be crucial to bankrolling the transition, he said. Source: autonews.com … [Read more...]
Mazda profits zoom to records on CX-90, hybrid uptake, foreign exchange rates
Mazda reaches record profits thanks to the popularity of its large platform CX-90 crossover and uptake of hybrids, but the Japanese carmaker is bracing for headwinds this year. Source: autonews.com … [Read more...]
4 big takeaways from Rivian's Q1 earnings report
Rivian reported a $1.45 billion net loss in the first quarter, higher than a year earlier. But it also laid out a roadmap for slashing production costs and launching a more affordable EV in 2026. Source: autonews.com … [Read more...]
NHTSA clarifies odometer disclosure rule, paving path for digitized registration
Electronic signatures are permitted on all odometer disclosures, U.S. auto safety regulators confirmed Tuesday, a clarification that is crucial to the movement to digitize title and registration processes. E-signatures on physical odometer discloser documents are lawful under a 2019 rule, NHTSA told online used-car retailer Carvana in a letter of interpretation Tuesday. Carvana requested the … [Read more...]
BP keen to buy Tesla supercharging sites for U.S. expansion
BP Plc’s electric vehicle charging arm is eager to snap up Tesla Inc. supercharging sites across the U.S. — along with the workers behind them — and has pledged $1 billion to expand its network. The company said it “is aggressively looking to acquire real estate to scale our network, which is a heightened focus following the recent Tesla announcement.” It plans to spend $1 billion by 2030, half of … [Read more...]
First Black female Lexus dealer Ellenae Henry-Fairhurst dies
Henry-Fairhurst made her landmark purchase of an Infiniti dealership in 1999. Source: autonews.com … [Read more...]
Group 1 Automotive's Q1 acquisitions cost almost $700 million
The auto retailer also sold the Mike Smith Auto Complex in Beaumont, Texas, to Doggett Automotive Group in the first quarter. Source: autonews.com … [Read more...]
ACV reports Q1 net loss of $20M; revenue up 22%
ACV also said the number of used vehicles transacted by dealers and commercial auto companies on its wholesale marketplace platform grew 15 percent year over year. Source: autonews.com … [Read more...]
Nearly 25% of Ford F-150s built are now hybrids, CEO says
The F-150 is a key pillar of Ford's hybrid strategy, which is gaining importance amid slower-than-expected demand for EVs. Source: autonews.com … [Read more...]
NADA Academy preps future dealership owners, staff for changing times
Through in-person and online classes, the National Automobile Dealers Association trains dealership staff and future owners to face an industry challenged by consolidation, inflation and the perils of new technology. Source: autonews.com … [Read more...]
Editorial: Pedestrian safety measures should go beyond automatic emergency braking
The industry has five years to comply with NHTSA's latest automatic emergency braking rule, but we hope for advancements far sooner. Source: autonews.com … [Read more...]
GM logistics supplier Proficient Auto raises $215 million in IPO
The company, which transports finished vehicles from manufacturers and shipping ports to auto dealerships, provides services to GM, Stellantis, Toyota and other automakers. Source: autonews.com … [Read more...]
U.S. agency raises safety concerns on Ford crossover fuel leak recall
The National Highway Traffic Safety Administration (NHTSA) said last month it was investigating the adequacy and safety consequences of Ford's proposed recall remedy for 2022-2023 model year Bronco Sport and 2022 Ford Escape SUVs with 1.5L engines. Source: autonews.com … [Read more...]
Used-vehicle wholesale prices down in April, Cox Automotive says
Customers appear to be holding out for more affordable used-vehicle prices and hoping for lower interest rates, Cox Automotive says. Source: autonews.com … [Read more...]
Accounting change drives down Cars Commerce Q1 net income
Cars Commerce's 2023 acquisition of D2C Media helped promote revenue gains, and price increases helped boost average revenue per dealer. Source: autonews.com … [Read more...]
Ford design boss Anthony Lo leaves for 'other opportunities'
Anthony Lo made the decision to leave the automaker himself, Ford said, without saying where he is moving to. Source: autonews.com … [Read more...]
Nissan has a new plan to spur sales — and it wants retailers to fund it
With a nearly triple-digit days' supply, Nissan is allowing dealers to advertise 2024 model year vehicles below invoice. Source: autonews.com … [Read more...]
Despite Nissan's missed targets, CEO Makoto Uchida gives himself a B, shifts to volume mode
CEO Makoto Uchida says Nissan has strengthened its business significantly over the course of his first midterm business plan but still must "work harder" to boost global volume. Here's a score card. Source: autonews.com … [Read more...]
5 key takeaways from Toyota's record earnings report
Under first-year CEO Koji Sato, Toyota reported a blockbuster fiscal year of records, from sales to profits. Here are five top takeaways from the automaker's earnings conference. Source: autonews.com … [Read more...]
Ford rethinks 2030 goal to go all-electric in Europe
Ford could continue to sell combustion engine cars in Europe after 2030. Originally the automaker planned to sell only battery-electric cars in the region by the end of the decade. Source: autonews.com … [Read more...]
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