Lear says Q2 earnings rise on record sales, lowers outlook amid EV uncertainty
Lear reported record sales and a modest gain in second-quarter net income as the company brings more automation technology in-house and adjusts to rapidly changing EV strategies......»»
Most automakers predict missed EV sales goals, slower transition in Kerrigan survey
The majority of automaker executives who participated in the 2024 Kerrigan OEM Survey said the transition to EVs will be slower than initially projected in the U.S......»»
Early CDK Global DMS return helped ease Group 1"s Q2 losses
The auto retailer estimates it lost $17 million in pretax income in the second-quarter due to the CDK outage......»»
North American EV battery capacity plans grow tenfold after incentives, Energy Department says
Planned battery cell production would power about 14 million light-duty EVs annually by 2030, according to the DOE......»»
Stellantis CEO Tavares: U.S. plants building too many vehicles that need rework
Shipments of the Ram 1500 and other vehicles have been slowed by problems that need to be repaired after they come off the assembly line......»»
China poised to lead global auto market, S&P Global says
BYD has emerged as a top 10 manufacturer, and evolving retail networks and new factories in Europe offer opportunities for Chinese automakers. Despite European and North American tariffs, they continue to push forward......»»
UAW, Lear reach tentative agreement, ending strike that idled GM Wentzville plant
The UAW and Lear Corp. reached a tentative agreement at a Missouri seating factory late July 24, ending a strike that idled midsize pickup and full-size van production at General Motors' Wentzville, Mo., assembly plant......»»
4 takeaways from Tesla"s Q2 earnings as profit plunges
Automotive gross margin, a key indicator of profitability, fell to just under 15 percent in the second quarter, its lowest level in five years. Tesla's operating margin fell to 6.3 percent from 9.6 percent a year earlier......»»
Stellantis to reduce output, cut prices after earnings plunge on weak U.S. results
Stellantis is counting on lower production, price cuts and new model launches to reverse plunging profits......»»
CEO Makoto Uchida says Nissan U.S. incentive spending nearly erases quarterly profit
Nissan CEO Makoto Uchida says soaring U.S. selling expenses fueled a 99 percent plunge in it’s quarterly operating profit, forcing him to cut the company’s full-year earnings forecast......»»
Volvo softens EV-or-bust strategy as hybrids show promise
Some Volvo dealers fear the consequences of sticking to the 2030 target as EV growth slows, and CEO Jim Rowan says hybrids can be a bridge for customers not ready to dump gasoline......»»
FTC CARS Rule could put auto lenders at risk
The Federal Trade Commission's CARS Rule poised to take effect upon car dealerships might have created risk for auto lenders, too, under the federal Holder Rule, experts say......»»
Dealers should adopt some practices now ahead of CARS Rule decision, experts say
The Federal Trade Commission's CARS Rule is on hold pending a legal challenge in the U.S. 5th Circuit Court of Appeals by the National Automobile Dealers Association and Texas Automobile Dealers Association, but dealerships might still wish to take s.....»»
Ford Q2 earnings: Net income falls 4.5%, but revenue rises on strong commercial vehicle sales
Ford attributed a 6.5 percent revenue increase to strong results from its Ford Pro commercial vehicle unit, which earned $2.6 billion and achieved a 15.1 percent margin......»»
UAW, after making Biden wait for endorsement, not ready to support Harris
UAW President Shawn Fain said the union's leadership would discuss possibly endorsing Vice President Kamala Harris in the coming days......»»
5 risks to watch as Nissan readies key earnings update
Nissan embarks on a new midterm business plan focused on growth. Here are the top risks to watch as CEO Makoto Uchida unveils the first quarterly earnings of the new era......»»
BMW recalls almost 300,000 vehicles over rear cargo rail failures
BMW is recalling 291,112 vehicles due to rear cargo rails detaching in the event of a crash, increasing the risk of serious injury. Following a crash involving a 2022 BMW X3, BMW North America and BMW AG were legally served. An investigation led to t.....»»
Editorial: Biden"s withdrawal leaves industry wondering whether Kamala Harris has evolved on EVs, climate change
Kamala Harris owes the industry and voters some answers on whether she still believes in the $10 trillion climate plan she proposed in 2019 that called for an industrywide transition to EVs by 2035......»»
NHTSA ends probe into 1.7 million Honda vehicles for power loss
Top U.S. auto safety regulators are closing an investigation into about 1.7 million Honda Motor Co. vehicles for loss of power......»»
Toyota weighs 4-day workweek in sweeping overhaul of office life
The possible change in Japan is part of a sweeping rethink of office life meant to streamline workloads for a modern, more agile era of global competition and innovation......»»