GM's Q1 profit surges to $3B; full-year outlook affirmed despite chip shortage

GM said it expected continued downtime in the coming months because of the supply issues, but the automaker forecasted a profitable second quarter on an adjusted basis.

GM moves up Ontario truck output to Q4; 1,700 new jobs expected

Microchips

Ford to stop production at Bronco, Ranger plant for 2 weeks

The production disruption is expanding, this time shuttering Ford's Michigan Assembly Plant — which makes the Ranger pickup and is gearing up to build the Bronco SUV — for two weeks later this month.

Dealers

Cascade transfers $300 million of AutoNation shares to Melinda Gates

Melinda Gates is now the owner of 2.94 million shares in vehicle retailer AutoNation Inc., worth about $309 million, Bloomberg reported.

Earnings

Stellantis says chip shortage caused 11% cut in Q1 output; revenue rose 14%

Production losses due to microchip shortages were about 190,000 units in the year's first three months. The company expects a heavier production hit this quarter.

Stellantis to hit emissions target without Tesla's aid, Tavares says

Automakers & Suppliers

House Democrats make push for EVs, charging stations

President Joe Biden has called for $174 billion in new spending to boost EVs and charging, including $15 billion to help build and support a national charging network of 500,000 stations by 2030.

Daily Drive Podcast

Daily Drive Rewind: Elon Musk one-on-one (Part 3)

We revisit our July 2020 conversation with Tesla's boss, who defended the name of the electric vehicle maker's Autopilot driver-assistance system and said criticism of the software is 'idiotic.'

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Dealers

Cavender Auto Family to buy 6 stores from Alderson Auto Group

Cavender Auto Family of San Antonio has an agreement to buy six luxury dealerships in Lubbock and Midland, Texas, from Alderson Auto Group. The transaction is expected to close in three to four months.

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Mobility Report

SAE refines levels of automation in push for system clarity

SAE and the International Organization for Standardization have clarified Levels 3 and 4 under the J3016 automation standards.

Used Cars

KAR's Q1 revenue drops, profits climb as commitment to digital persists

More than half of KAR's sales in the quarter were to customers who weren't at physical auctions.

Top retailers by used-vehicle sales

Our annual ranking of the top retailers by used-vehicle sales

The list showed some top-five shuffling as online upstart Carvana passed two of the country's biggest dealership groups.

PM NEWSCAST

Automakers battle for chips

• Barra's warning, outlook

• Bronco, Ranger plant to idle

• Lucid hires ex-Waymo exec

See all PM Newscasts

AM Newscast

GM expects strong first half

• Stellantis' production hit

• Nissan selling Daimler stake

• Lithia's digital strategy

See all First Shift

Special Video Report

In-house social media team creates 'raving fans' at N.Y. Chevy, Honda stores

Mohawk Auto Group is creating a fun company culture while getting serious about social. It's leveraging internal "brand champions" to engage the community, reduce ad spending and boost business.

RPJ improved Ford's cars — and engineers

What the chip shortage means to the service drive

Auto booming at 3 major U.S. lenders

Ford to revive Lightning badge on electric F-150, report says

Rolls-Royce drops Wraith, Dawn in U.S.

Honda refines powertrain, enhances tech on '22 Civic

Systematic problem-solving pays off for Ind. dealership group

Group tunes into women's concerns

Supreme Court decisions to impact auto finance industry

Compliance is king despite Supreme Court verdicts

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Final Assembly

Philip's custom Land Rover hearse gets called into duty

Diess chose VW over CEO job at Tesla

Service adviser's recommendation carries most weight

Management system helps boost parts profits

Dealers can tackle stock, budget, training issues with remote inventory management

Most Uber transit riders in city outskirts

Waymo ranked No. 1 among automated driving systems companies

Stellantis unit Free2Move to expand subscription service in U.S.

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The Future Product Pipeline allows you to stay up to date on current and new brand products, along with changes and other features. Here is the latest update:

Segment: Alternative Power
Powertrain(s): Electric
New in 2021
A battery-powered version of the Genesis G80 sedan is the brand's first full-electric model, promising sporty acceleration and a generous driving range.

Mercedes-Benz EQS

Segment: Alternative Power
Powertrain(s): Electric
New in 2021
The EQS will be available in rear-wheel and all-wheel drive, powered by a 107.8-kilowatt-hour battery that delivers 770 km (478 miles) of range.

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Automakers & Suppliers

GM Defense taps new president, opens N.C. production center

The Infantry Squad Vehicle is the first major product for the company since it was reestablished by GM in 2017.

Microchips

Biden commerce chief calls for surge in U.S. chip production

Gina Raimondo said producing leading-edge chips in the U.S. could create jobs and wean the nation off over-dependence on China and Taiwan.

Infineon points finger at contract partners over chip shortages

Automakers & Suppliers

Nissan sells its Daimler stake, following Renault

Renault, with Nissan, had exchanged stakes with Daimler a decade ago to strengthen their industrial partnerships. Cooperation is continuing, Daimler and Renault said earlier this year.

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Cars & Concepts

Ford E-Transit to start at $44,990; registration site opens

The automaker said more than 450 commercial customers already have indicated they plan to purchase the vehicle, which goes on sale this year.

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Cars & Concepts

Ford to revive Lightning badge on electric F-150, report says

The automaker will reportedly revive a name last used on V-8-powered F-150 performance models. It last registered for the "Lightning" wordmark with the U.S. Patent and Trademark Office in 2018.

Regulation & Safety

Stellantis to hit emissions target without Tesla's aid, Tavares says

Fiat Chrysler Automobiles previously spent about $2.4 billion to buy European and U.S. CO2 credits from EV maker Tesla over the 2019-2021 period. Tesla collected $1.6 billion from emissions credits in 2020 alone.

Argo AI’s pilot showed communication between self-driving vehicles and smart traffic lights could help trim wait times at the lights.

Mobility Report

Ford-backed Argo sees new sensor as key for self-driving cars

The new sensor will be at the heart of the self-driving system that will debut on Ford’s ride-hailing and delivery vehicles next year and on VW models in the middle of the decade.

Automakers & Suppliers

Ferrari postpones financial targets despite record orders

The automaker will postpone by one year reaching its 2022 guidance because of the effects of the coronavirus pandemic.

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Chicago Auto Show

Chicago show returns in July

Organizers previously said the event would happen this spring. But a spike in COVID cases in April pushed back the timeline.

Regulation & Safety

EV-charging business is doing everything but making money

Speculators are piling into the industry, convinced that boom times are around the corner, while skeptics warn that some of these companies will go belly-up.