Daily Email Thursday

TrueCar CEO Scott Painter to step down by year end

4:11 pm U.S. ET | Aug. 6, 2015

Scott Painter, founder of the online car-shopping site TrueCar, is stepping down as CEO of the company this year. TrueCar said a successor is expected to take office by year end. Painter, 46, will remain chairman of the company's board of directors.... Read More »

Lear targets acquisitions to enhance electrical unit

2:49 pm U.S. ET | Aug. 6, 2015

Lear is looking for acquisitions of as much as $1 billion for its electrical unit as automakers' demand for global vehicle platforms drives consolidation among their suppliers.... Read More »

Hackers turn off Tesla Model S at low speed

8:10 am U.S. ET | Aug. 6, 2015

Tesla issued a software patch to address security flaws in the Model S that could allow hackers to take control of the sedan. Cybersecurity experts took command of a Model S and turned it off at low speed, one of six major flaws they found that could allow hackers to maneuver the vehicle, a newspaper reported.... Read More »

Lexus leans on leases as U.S. luxury race tightens

2:00 pm U.S. ET | Aug. 6, 2015

Lexus is relying more on leasing than BMW and Mercedes-Benz as it challenges the German brands for the lead in U.S. sales of luxury vehicle sales. About 62 percent of Lexus vehicles have been leased this year, compared with about half for BMW and Mercedes, according to Edmunds.com data.... Read More »

GM July sales drop 4% in China, but margins hold up

7:10 am U.S. ET | Aug. 6, 2015

General Motors sales in China fell 4 percent year-on-year in July but the U.S. automaker said it remained on track to achieve an upbeat goal for profit margins this year in its second-largest market.... Read More »

Nexteer, TI Automotive plan new home offices in suburban Detroit

6:34 am U.S. ET | Aug. 6, 2015

Nexteer Automotive said it would locate its new headquarters north of Detroit in Auburn Hills, Mich., by next summer. TI Automotive also said it would lease and build out a new facility in the Detroit suburb... Read More »

Lexus plans 2nd 'flagship' model to augment LS sedan

8:00 pm U.S. ET | Aug. 5, 2015

Toyota Motor's Lexus brand is planning to launch a second top-of-the-line "flagship" model to accompany a new generation of its LS sedan, the head of the brand's U.S. operations said.... Read More »

RICHARD JOHNSON

BLOG: When Johanna Quandt turned an ambitious Henry Ford II down

5:45 pm U.S. ET | Aug. 5, 2015

Johanna Quandt looked like a character out of "The Sound of Music" as she greeted Henry Ford II at her home in Germany in the summer of 1987.... Read More »

Audi prices A3 e-tron plug-in hybrid from $38,825

6:56 pm U.S. ET | Aug. 5, 2015

Audi’s first plug-in hybrid, the A3 Sportback e-tron, will start at $38,825 including shipping when it arrives at U.S. dealerships in October. The A3 e-tron is the first in a coming wave of battery-electric and plug-in hybrid vehicles from Audi to wear the e-tron badge.... Read More »

Tesla sets Q2 sales record, but losses grow

5:30 pm U.S. ET | Aug. 5, 2015

With the first deliveries of its Model X less than two months away, Tesla's net loss nearly tripled to $184 million in the second quarter, underscoring how crucial the rollout of the crossover is for the electric-vehicle maker.... Read More »

FCA will free purchasing staff from cost restraints to focus on quality

10:00 pm U.S. ET | Aug. 5, 2015

Fiat Chrysler plans to no longer hold its purchasing staffers to individual cost-saving goals on parts. The goals had effectively tied the staffers' hands when suppliers sought pricing relief. Instead, the automaker says that cost savings goals will be managed by teams, allowing greater flexibility with individual suppliers.... Read More »

KRISHNAN M. ANANTHARAMAN

BLOG: Why Hyundai sticks by its warranty offer

5:30 pm U.S. ET | Aug. 5, 2015

With Hyundai racking up awards for its quality and reliability, could the brand get away with watering down its industry-leading warranty coverage?... Read More »

Consumers shrug fuel efficiency goals, McConnell says

5:52 pm U.S. ET | Aug. 5, 2015

Fuel efficiency gains are nice, but the car-buying public does not seem to be interested, a prominent Honda dealer said at the CAR Management Briefing Seminars.... Read More »

Local Motors details plans for street-legal 3-D car

4:55 pm U.S. ET | Aug. 5, 2015

Local Motors, the Arizona start-up company that uses 3-D printing technology to make cars, said it plans to have a street-legal two-seat coupe ready for sale to consumers by the third quarter of 2017.... Read More »

Opportunities grow for U.S. parts suppliers moving into China

4:31 pm U.S. ET | Aug. 5, 2015

The U.S. government would like you to know that China’s automotive market is beckoning, even to small companies who lack the funds to get in.... Read More »

GM's OnStar app can be hacked, reseacher says

2:33 pm U.S. ET | July 30, 2015

A researcher is advising drivers to halt the use of a mobile app for General Motors' OnStar vehicle communications system, saying hackers can exploit a security flaw in the product to remotely unlock cars and start engines.... Read More »

Ford F-150 aluminum repairs cost more than steel, IIHS says

12:01 am U.S. ET | July 30, 2015

Tests by the Insurance Institute for Highway Safety found that repairing body damage on the aluminum-bodied 2015 Ford F-150 took longer and cost 26 percent more than on the 2014 F-150 made of steel.... Read More »

JULY U.S. AUTO SALES

GM pulls back on rental fleet sales, seeks better margins

11:44 am U.S. ET | July 30, 2015

General Motors will probably report weaker sales than some key rivals do in July. The largest U.S. automaker said that's because it's selling fewer vehicles to rental-car agencies -- not a lack of love in dealer showrooms.... Read More »

Chassix gets new board, $300M in financing

3:14 pm U.S. ET | July 30, 2015

Chassix Holdings, following its successful emergence from Chapter 11 bankruptcy proceedings, has secured $300 million of exit financing and named a new board of directors.... Read More »

Uber launches car leasing unit, makes entry into financial services

11:56 am U.S. ET | July 30, 2015

Uber Technologies has launched its own auto leasing subsidiary to seek more drivers, injecting the fast-growing ride services company directly into the financial services sector for the first time.... Read More »

Amazon hires ex-Top Gear presenter Clarkson for TV series

11:02 am U.S. ET | July 30, 2015

Jeremy Clarkson, the TV presenter who was ousted as host of “Top Gear” this year, will front a new show on Amazon.com in 2016, underscoring the online retailer's drive to push its streaming service with big-ticket names.... Read More »

Mitsubishi Motors' April-June net falls 15%

1:51 pm U.S. ET | July 30, 2015

Mitsubishi Motors today said its fiscal first-quarter net income fell 15 percent to 23.99 billion yen, or $195.56 million, brought down by widening losses in Japan, poor performance in Europe and a drop in global factory unit sales.... Read More »

Ford engine plant reopened after bomb threat

10:42 am U.S. ET | July 30, 2015

Ford's engine plant in suburban Detroit was reopened this afternoon after the first shift was sent home earlier today because of a bomb threat.... Read More »

Tech is a key for new-car marketing, study says

12:50 pm U.S. ET | July 30, 2015

Targeting techies is an important marketing strategy for automakers, according to a new study from J.D. Power. The company's 2015 U.S. Automotive Media and Marketing Report -- Summer edition found that 30 percent of new-vehicle drivers cited their vehicle's latest technology as a reason for purchasing.... Read More »

BorgWarner Q2 earnings fall 21%

10:29 am U.S. ET | July 30, 2015

Auto supplier BorgWarner said its second-quarter earnings and revenue were hurt by the stronger U.S. dollar and lower-than-expected sales in China and other parts of the world.... Read More »

Automotive News Cover
News by Brand