We need many more answers on EV use
Posted on Sunday October 25, 2020
A number of questions about charging stations, queuing times and electricity costs loom large as the industry moves ahead with EVs, writes an Automotive News reader in a letter to the editor.
Tesla admits rain can force off bumpers
Posted on Sunday October 25, 2020
The automaker issued a service bulletin that repeatedly claims the problem is "rare" but confirms that damage from driving in heavy rain will be repaired under warranty.
Cruise adapts planned ride-sharing shuttles for COVID era
Posted on Sunday October 25, 2020
The company worked with a Harvard-trained epidemiologist to tweak the design by separating passengers with a plastic divider and increasing air circulation.
Jeep offers plug-in in hybrid-crazy Japan
Posted on Sunday October 25, 2020
The brand is banking on its first plug-in for the market, the Renegade 4xe, to help notch another sales gain.
Deal could open tech, growth opportunities at Atlantic Auto
Posted on Sunday October 25, 2020
In its bid to become a major public dealership group, vehicle subscription provider LMP Automotive Holdings Inc. has agreed to purchase a 70 percent stake in Atlantic Auto Group, a large chunk of Staluppi Auto Group.
Ford net income surges to $2.4 billion in Q3; 2020 forecast raised
Posted on Wednesday October 28, 2020
The automaker's adjusted earnings before interest and taxes more than doubled from the same period a year ago to $3.6 billion, and margins jumped to 9.7 percent.
Election outcome likely to impact auto finance landscape
Posted on Wednesday October 28, 2020
Three factors will be pivotal in shaping the automotive industry's trajectory, according to Cox Automotive Chief Economist Jonathan Smoke: the spread of COVID-19 and a potential vaccine; the size and timing of an additional round of government stimulus; and the outcome of the 2020 election. But perhaps the most important is who will be president, because it will likely influence the continuing efforts to abate the deadly virus and provide financial support to impacted Americans.
In a Tuesday blog post that posits former Vice President Joe Biden will win the presidential race next week, Smoke outlined several ways that a new leader would impact the auto finance landscape.
Here are some key takeaways:
Digital tools still require dealership support
Posted on Wednesday October 28, 2020
Lithia Motors executives said last week that in-store F&I managers provide the best behind-the-scenes support for virtual car deals.
Digital auto selling and lending has a weak spot: Fraud
Posted on Wednesday October 28, 2020
Auto finance has been hit particularly hard with fraud spiking by 30 percent each week since March, despite a drop-off in originations,
Sonic Automotive CEO's court hearing moved to Dec. 1
Posted on Tuesday October 27, 2020
Sonic Automotive CEO David Smith faces a felony assault by strangulation charge and other misdemeanor charges relating to his arrest in Charlotte on Oct. 5.
We need many more answers on EV use
Posted on Sunday October 25, 2020
A number of questions about charging stations, queuing times and electricity costs loom large as the industry moves ahead with EVs, writes an Automotive News reader in a letter to the editor.
Tesla admits rain can force off bumpers
Posted on Sunday October 25, 2020
The automaker issued a service bulletin that repeatedly claims the problem is "rare" but confirms that damage from driving in heavy rain will be repaired under warranty.
Cruise adapts planned ride-sharing shuttles for COVID era
Posted on Sunday October 25, 2020
The company worked with a Harvard-trained epidemiologist to tweak the design by separating passengers with a plastic divider and increasing air circulation.
Jeep offers plug-in in hybrid-crazy Japan
Posted on Sunday October 25, 2020
The brand is banking on its first plug-in for the market, the Renegade 4xe, to help notch another sales gain.
Deal could open tech, growth opportunities at Atlantic Auto
Posted on Sunday October 25, 2020
In its bid to become a major public dealership group, vehicle subscription provider LMP Automotive Holdings Inc. has agreed to purchase a 70 percent stake in Atlantic Auto Group, a large chunk of Staluppi Auto Group.
Used-car consignment store CarLotz to go public via merger
Posted on Wednesday October 21, 2020
The deal would make CarLotz the third major U.S. online car seller to go public this year, following in the trails of Vroom and Shift Technologies as online vehicle sales boom during the coronavirus pandemic.
Cars.com looks to shed part of Chicago headquarters
Posted on Wednesday September 16, 2020
The move comes four months after the company announced a round of layoffs triggered by the COVID-19 crisis.
McLaren North America rebrands certified pre-owned program
Posted on Monday September 14, 2020
The British exotic brand, in the latest tweak to its North American retail operations, is retiring McLaren Qualified after seven years.
Intent to buy used stabilizes while new-car intent weakens, study finds
Posted on Wednesday August 05, 2020
Between June and July, new-vehicle purchase intent in the U.S. declined 4 percent while used-vehicle intent rose 2 percent, according to a survey by McKinsey & Co. on how consumers are responding to COVID-19.
Online used-car retailer Vroom targets IPO worth at least $281M
Posted on Tuesday June 02, 2020
The company, which has been reporting strong revenues but with net losses, has applied to be traded on the Nasdaq exchange under the VRM ticker symbol. The current share price target would raise between $281 million and $319 million.
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