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Brockman tax probe linked to employee lawsuit from 20 years ago, report says
March 03, 2021 07:09:47 PMBob Brockman's brother, Dave Brockman, told The Wall Street Journal that his brother "went out to make something of himself" after growing up in Florida and that the two have not been in close contact for years.
Vroom's Q4 net loss widens on expenses amid record online sales
March 03, 2021 06:32:11 PMThe online used-vehicle retailer also said it acquired CarStory, a Texas automotive retail analytics and digital services company, in January.
AutoNews Now: Chip woes persist: GM extending output cuts
March 03, 2021 04:26:51 PMChip woes persist: GM extending output cuts; Stellantis CEO Tavares: Shortage 'a very big hit' | Ford sales slide 15%; Feb. SAAR 15.9M | Mustang Mach-E buyers compensated for delays
Fuccillo Automotive employee arrested on suspicion of stealing $1 million
March 03, 2021 03:40:53 PMJoseph Pompo, who was corporate director of finance, reinsurance and taxation for the dealership group, is accused of forming a reinsurance company using dealership funds without his employers' consent.
CarMax plans bonuses for 22,000 employees to reward pandemic efforts
March 03, 2021 03:05:13 PMThe nation's largest used-vehicle retailer said the bonuses were going to more than 80 percent of its employees.
U.S. will review impact of SK Innovation ruling on Biden green transportation goals
March 03, 2021 02:11:33 PMSen. Raphael Warnock said the ruling "seriously threatens" the viability of SK Innovation's $2.6 billion Georgia plant with 2,600 planned workers, currently under construction.
Ford compensating Mustang Mach-E buyers for delays amid strong demand
March 03, 2021 12:54:05 PMThe automaker said it would cover the first month's payment of up to $1,000 for some owners and provide more free charging as 4,500 vehicles are being held up by quality checks.
How digital retail can be a pain reliever for F&I process
March 03, 2021 12:42:00 PMDigital retailing is one method dealers have to combat comparisons such as the one drawn in Vroom's Super Bowl ad.
Consumers in mortgage forbearance could drop out of auto market
March 03, 2021 12:37:21 PMAs millions of Americans face foreclosure and eviction, credit bureau TransUnion is concerned that automotive loans and leases could be the next troubled consumer segment.
Consumer Reports launches recommendation label program
March 03, 2021 12:26:36 PMThe consumer research nonprofit organization said one of the main goals is to break through a flood of fake product reviews that circulate online and confuse customers.
KAR Global names Kelly new CEO; Hallett to become executive chairman
March 03, 2021 11:58:51 AMPeter Kelly has a long history with KAR. The company credits him for ramping up startup technology to boost KAR's status as a private-label online auction platform.
Sonic Automotive CEO David Smith indicted on 4 charges; court case moves forward
March 03, 2021 11:22:59 AMThe procedural action moves Smith's criminal case along in Mecklenburg County Superior Court. Smith's lawyer has said Smith will plead not guilty to the charges.
DAILY DRIVE PODCAST: March 3, 2021 | Volvo's path to becoming an EV-only brand
March 03, 2021 10:08:13 AMVolvo Cars North America CEO Anders Gustafsson discusses the brand's plans to phase out internal combustion engine vehicles by 2030 and its strategy for selling BEVs exclusively online.
CFPB nominee vows to enforce fair lending, scrutinize big data
March 03, 2021 09:54:33 AMAt his confirmation hearing Tuesday, Democratic Senators pushed Rohit Chopra to revive the CFPB after the Trump administration weakened enforcement and several rules, while Republicans warned the bureau overstepped its authority previously.
GM extends vehicle production cuts due to chip shortage
March 03, 2021 09:40:24 AMGM did not disclose the impact on volumes or say which supplier or parts were affected by the chip shortage, but said it intends to recover as much of the lost output as possible.
VW’s electric car stacks up well against Tesla in UBS teardown
March 03, 2021 09:18:08 AMThe deep dive into the ID.3 found the platform underpinning VW’s EV models will be fully cost competitive with Tesla and boast best-in-class energy density and efficiency.
First Shift: Stellantis aims for higher profit margins in 2021
March 03, 2021 07:58:39 AMStellantis aims for higher profit margins in 2021 | GM, Toyota workers in Texas to keep masks on | Honda Feb. sales drop 11% | Cruise in talks to buy Voyage? | KAR names next CEO
Telecom firm ZTE preparing electric vehicle product line
March 03, 2021 07:00:08 AMSales of new-energy vehicles, including pure battery-electric vehicles as well as plug-in hybrid and hydrogen fuel cell vehicles, are expected to make up 20% of China's overall annual auto sales by 2025.
GM-backed Cruise is in talks to buy startup Voyage, report says
March 03, 2021 06:32:06 AMIf an agreement is struck, it would merge Cruise’s engineering and software capabilities with Voyage’s presence in the retirement community market, which is well suited for a driverless taxi business.
Jaguar Land Rover quality issues 'cost company 100,000 sales' annually, CEO says
March 03, 2021 05:29:29 AMThe automaker has long struggled to have the same quality standards as its rivals, CEO Thierry Bollore said.
Stellantis aims to lift Fiat Chrysler margins toward PSA levels
March 03, 2021 03:14:37 AMStellantis said it was targeting an adjusted operating profit margin of 5.5 percent to 7.5 percent this year, assuming no further significant COVID-19 related lockdowns.
Ohio lawmaker proposes direct-sales allowance for Lordstown Motors
March 02, 2021 06:57:16 PMThe legislation, introduced Tuesday, would allow a manufacturer to operate dealerships if it "is a manufacturer of all-electric motor vehicles with corporate headquarters and manufacturing facilities in this state."
GM, Toyota employees to wear masks in Texas as mandate ends
March 02, 2021 06:39:22 PMToyota, which has its U.S. headquarters and a factory in Texas, said it was looking into the move by Gov. Greg Abbott to roll back the mask mandate, and it doesn't contemplate any immediate changes.
Karma Automotive names David Hilton head of global design
March 02, 2021 04:29:22 PMIn his role, a new one at the automaker, he will oversee design as the company gears up to launch its first SUV, the battery-electric GX-1.
Texan chipmakers face slow recovery from power crisis as demand rises
March 02, 2021 03:43:29 PMChipmakers now have the power, water and gas they need to operate, but they need time to restart tools and clean the factories, said the head of the Austin Regional Manufacturers Association.