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Browsing Category
auto
Can EV tax credit survive Senate, industry objections?
The Democrats' revamped credit for consumers buying new battery-electric, plug-in hybrid and fuel cell vehicles would eliminate the 200,000-vehicle-per-automaker cap — a threshold surpassed by General Motors, Toyota and Tesla — but add…
Tesla aims for 2 million-unit EV run rate by end of 2022
Tesla’s newest car, the Model Y midsize crossover, is already the automaker’s biggest selling vehicle by revenue, he said, and in 2023 would be the volume leader.
The Model Y, with about 40,000 sales in Europe through June, already…
Royal Enfield Hunter 350 Revealed; Launch on August 7, 2022
Royal Enfield, the Indian bike maker, will officially launch the Hunter 350 on August 7, 2022. The company has teased the motorcycle on its official Twitter account, revealing the launch date. Ahead of its launch,…
VW ID4 EV ad stars U.S. soccer star Christian Pulisic
Created with agency of record Johannes Leonardo, it's the latest extension of VW’s ongoing “Drive Bigger” brand platform. Previous spots that broke this summer include "Those Guys," about a guy oblivious to those around him, and "Break…
Lucid CEO Peter Rawlinson hits factory floor to focus on slow EV ramp-up, quality issues
While supplier issues were responsible for Lucid's slow manufacturing ramp initially, Rawlinson said, the startup was unable to accelerate production once those shortages eased.
"As we attempted to push forward the rate, we found that our…
Toyota profit plunges amid supply chain chaos, rising costs
TOKYO – Toyota Motor Corp., coming off a year of record profits, shifted into reverse in the latest quarter as supply chain chaos and soaring costs slammed earnings.
The sliding profits in the April-June quarter underscore the challenge…
Subaru quarterly profit rises as production rebounds from microchip shortage
TOKYO — Subaru profit bounded ahead 25 percent in the latest quarter as the Japanese carmaker recovered lost production, ramped up sales and cashed in on favorable exchanges rates.CFO Katsuyuki Mizuma brushed aside concern about a budding…
Hyundai, Kia US Sales Fall 11% Amid Global Chip Shortage: Report
Seoul: Hyundai Motor and its affiliate Kia said on Wednesday their combined sales in the United States fell 11 per cent last month from a year earlier amid the prolonged global chip shortage. Hyundai, its…
Jaguar I-Pace Electric Car Catches Fire While Being Charged in the US
San Francisco: A Jaguar I-Pace electric car caught fire while being charged at a garage in the US -- the fourth such battery fire in the I-Pace series (that costs upwards of Rs 1 crore), which is Jaguar's first and…
Battery makers say methods, supply chains in flux
The industry is scrambling to make the historic transition from internal combustion vehicles to EVs. John Bozzella, CEO of the Alliance for Automotive Innovation, told the audience that automakers and suppliers are looking to spend $515…
Lear Q2 earnings: Supplier is slashing headcount, ‘de-risking’ business amid economic…
The company's net income dropped to $69 million for the quarter, but sales outperformed global industry production and were up 7 percent from last year to $5.1 billion, according to its quarterly earnings report.
Despite recession worries,…
Congress’ climate bill would hurt Rivian, company says
While Rivian applauds the intention of the pending bill, “as currently drafted, this legislation will pull the rug out from consumers considering purchase of an American-made electric vehicle,” said Chen, whose company employs roughly…
Michigan Gov. Gretchen Whitmer says microchip bill could turn state into auto chip hub
Following the passage of the semiconductor bill by Congress last week, Gov. Gretchen Whitmer said Michigan hopes to become a hub for microchip manufacturers that supply the auto industry.
Whitmer, in an interview Monday with Automotive…
As chip shortage lingers, billions spent to boost capacity
But at the same time, analog chips are likely to increasingly come from China, Dziczek said. Analog chips, which control mechanical systems in a vehicle, are a technology that "not a lot of companies are investing in" at the moment, she…
Nio to make power products for Europe at its first overseas plant
SHANGHAI -- Chinese electric-car maker Nio plans to open its first overseas plant in September to make power products for the European market as it accelerates expansion abroad.
The plant, in Pest, Hungary, will develop and manufacture…
Stellantis to invest $99 million at three engine plants
Stellantis said it's investing $99 million at three plants to produce a new 1.4-liter turbocharged engine that has "flexibility for hybrid-electric vehicle applications."
The automaker is making the investments at its Dundee Engine Complex…
Aston Martin sees its finances improving
Stroll has been striving to lift margins at Aston Martin and help it become more like rival Ferrari, bringing in former Ferrari top boss Amedeo Felisa as its company's CEO in May this year.
The Formula One racing team owner expects to sell…
Hero Electric Sold Nearly 9K EV Two-Wheelers in July 2022: Report
New Delhi: Hero Electric led the EV two-wheeler segment, selling 8,952 vehicles for the entire month, followed by Okinawa Autotech at 8,094 vehicles, the latest VAHAN data has revealed. Ather Energy sold just 1,279…
Automakers: Think of tomorrow’s new-vehicle buyer
"New-vehicle prices surge, but there's no shortage of buyers," (autonews.com, June 19) shocked me. I thought 60 months on a loan was a lot until I saw the average loan was 70! The average payment is $648! How long do automakers think this…
Bosch sees chip crisis lasting deep into 2023
Q: How much longer do you believe the global semiconductor shortage will last?
A: You can't solve it this year. It's impossible. It will be better at the end of this year than now, but it can't be fully solved until beyond then. There will…
Chip shortage brings avalanche of money for new capacity
But at the same time, analog chips are likely to increasingly come from China, Dziczek said. Analog chips, which control mechanical systems in a vehicle, are a technology that "not a lot of companies are investing in" at the moment, she…
UAW, Unifor talks likely to include demands for big raises
The tight labor market in the Southeast has already forced many international automakers to dramatically boost wages. Volkswagen, for example, said the starting wage at its Chattanooga Assembly complex is now $21.50 an hour — it was $14.50…
General Motors’ Cruise burns through over $5 million a day
General Motors has lost nearly $5 billion since 2018 trying to build a robotaxi business in San Francisco, and now as the automaker's Cruise unit starts charging for rides, the losses are accelerating.
GM said last week that it lost $500…
The zero-emission speed trap
The 2023 F-150 Lightning Pro SSV will be the first U.S.-produced electric pickup designed for police work.
Will automakers hold line on production or chase volume when parts availability improves?
Henry Ford once said, "Don't find fault, find a remedy." As it turns out, the remedy found the automakers.With the onset of the global COVID-19 pandemic, 2 million units were cut from North American auto production in the spring of 2020,…
Auto industry golf fundraisers appear to be declining
Fore!
Hey, golf outings: Look out!
I have to say, I'm a little worried about the industry's golf gatherings. No, it's not the end of the world: The fate of the auto industry or Detroit or humanity is not dependent on auto industry golf…
UAW convention sees change, but establishment power lingers
Curry and other leadership candidates backed by the Reuther caucus had wide support among most delegates and convention attendees, even after a recent report by the federal monitor that said they had refused to cooperate in ongoing ethics…
Porsche plans to enter Formula 1 with Red Bull
Word of a possible Porsche entry to Formula 1 has been percolating for years. Porsche executives teased a possible entry as far back as 2010. The decision to join was confirmed in April, when VW Group's supervisory board approved plans for…
Hyundai Motor Appoints Randy Parker as CEO for US Operations
Seoul: Hyundai Motor, South Korea's biggest carmaker, said on Friday it has named a new chief executive for its US operations amid the prolonged chip shortage. Hyundai has promoted Randy Parker to be CEO of Hyundai…
Shyft Group net income plunges 67% in Q2 amid supply chain constraints
Specialty vehicle manufacturer Shyft Group Inc. saw decreases in both net income and revenue in the second quarter due to supply chain disruptions and inflationary pressures.
Net income plunged 67 percent to $5.3 million, the company said…