F&I gross profit per vehicle down for 4 of 6 publics in Q4
Same-store finance and insurance gross profit per car sold fell at four of the top six franchised auto dealership groups in the fourth quarter compared with a year earlier. AutoNation was the only major new-vehicle public retailer to grow F&I profit.....»»
Honda doubles EV investment to $64B, fleshes out 7 new models in 0 Series
Honda CEO Toshihiro Mibe outlines the business case for achieving fat electric vehicle margins by the end of the decade as he doubles investment in next-generation EVs......»»
Mahindra moves Roxor, tractor production to Pontiac
Mahindra has moved production of its tractor and Roxor side-by-side vehicle to Pontiac, 30 miles North of Detroit ,in a consolidation move as the India-based vehicle manufacturer tries for stronger traction in North America. The company has inves.....»»
The inside story of Elon Musk’s mass firings of Tesla Supercharger staff
The day before Elon Musk fired virtually all of Tesla’s electric-vehicle charging division last month, charging chief Rebecca Tinucci went to meet with Musk about the network’s future.The meeting could not have gone worse......»»
First crewed flight of Boeing’s Starliner spacecraft delayed again
The first crewed flight of the Starliner spacecraft has been delayed again while engineers fix an issue with the Boeing-made vehicle......»»
The self-driving industry fumbled away public trust. Now it seeks a remedy
With a backlash brimming, the Autonomous Vehicle Industry Association is seeking to regain trust in self-driving technology. Only 9 percent of U.S. consumers tell AAA they trust the tech......»»
"Free" delivery plans can profit both retailers and customers
In March, Target became the latest mega-retailer to offer "free" delivery—for a price. For $99 a year, subscribers to Target Circle 360 can place unlimited orders without having to worry about shipping costs. Target competes with similar plans offe.....»»
Carvana converting 2nd ADESA auction site into its own inspection, reconditioning center
Online used-vehicle retailer Carvana said it is in the process of converting ADESA Portland. It completed its first such conversion last month, with ADESA Buffalo......»»
Profit, rules or values: Skills that lead to success on the labor market
There is no specific set of skills that university graduates need in order to be successful professionally. Rather, the required skills vary according to different areas of the labor market and their specific requirements......»»
More stable new-vehicle production means higher Q1 sales for suppliers
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......»»
Ford offers laid-off Canada workers "preferential" placement at Windsor plants
Ford Canada is offering “preferential” placements to several dozen laid-off workers in Oakville, Ont., who are willing to relocate as vehicle production ceases for a prolonged period that could last up to 3½ years. .....»»
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......»»
N.Y. Chevrolet dealership introduces delivery coordinator position to foster employee growth
A coordinator will do anything, from ensuring a customer knows how to use their new vehicle's technology to helping answer insurance and other general questions......»»
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 rece.....»»
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......»»
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......»»
New-vehicle inventory little changed at 2.86 million
New-vehicle inventories in the U.S. changed little in April, ending at 2.86 million vehicles, Cox Automotive said — safely under 3 million......»»
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 US — along with the workers behind them — and has pledged $1 billion to expand its network......»»
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......»»
Affordability to affect new-vehicle purchases, study says
An Urban Science and Harris Poll study found 55 percent of consumers said they're likely to change their vehicle purchase or lease plans due to economic concerns in the near future, lower than dealers' expectations......»»
Hyundai Motor plans to add hybrids to U.S. plant within current investment
Hyundai Motor Co. plans to use the investment it has already lined up for the United States to produce hybrid vehicles at its electric vehicle plant there......»»