VC investment is sparking again for retail tech, F&I and more
Stella Automotive AI, Botdoc, AutoComplete, Detect Auto and QoreAI are among the companies seeking or winning new funding....
Chase exec for captive finance companies expects subvention to grow
Leslie Morris said some automakers were considering alternatives to incentive spending during inventory shortage, but sweeteners on cars are now back to 'very, very significant levels.'...
Guest commentary: Five action items to hasten Safeguards Rule compliance
The FTC has amended the Safeguards Rule to better protect people across the country from breaches and cyberattacks that lead to identity theft and financial loss. It's crucial that all businesses become compliant....
Toyota, Hyundai, Kia post robust U.S. sales gains in May as EVs gain momentum
Toyota, Hyundai and Kia reported strong sales gains in May, bolstered by hybrids and electric vehicles. Toyota Motor North America saw its sales climb 16 percent in May to 216,611, powered by a 15 percent boost in Toyota brand sales, while Lexus brand sales rose 17 percent. Among the automaker's top-selling models, sales of the Toyota RAV4 rose 27 percent, Camry sales were down 7.7 percent, Corolla up 23 percent and Tacoma down 17 percent. Interestingly, the Toyota brand's gain came despite a mid-April recall and resulting international stop-sale on the Prius because of faulty rear-door latches. The Japanese automaker also said that a record 39 percent of...
Franchised dealerships play critical role in U.S.
TO THE EDITOR: Regarding “Ohio Sen. Sherrod Brown attacks Bernie Moreno’s history as car dealer,” autonews.com, May 22: In light of Ohio Sen. Sherrod Brown’s recent attack on senatorial candidate Bernie Moreno’s former car dealership business, it is crucial to underscore the often overlooked and misunderstood role that dealerships play in their communities and the broader economy. Franchised new-car dealerships are the lifeblood of the Texas economy, playing a pivotal role in employment, economic growth and tax contributions at every level — local, regional and statewide. Texas is home to 1,340 franchised dealerships. They collectively employ over 150,000 people, making the automotive retail sector one of the largest...
The Geneva Motor Show is Dead, Forever
The organizers will continue to host the show in Qatar....
EU tariffs on EVs would cost China almost $4B in trade, study says
The number of Chinese EVs imported to the EU would drop by a quarter if Brussels were to impose a 20 percent import tariff, according to a Kiel Institute for the World Economy study....
Editorial: Low-cost Chinese vehicles will come to the U.S., so the time to improve North American manufacturing is now
Advances in manufacturing improved efficiency after the pandemic, but North American industry needs to prepare now for China's eventual arrival....
Company modernizes collision repair recalibration process
Startup company Kinetic uses robots and software to ensure advanced driver-assist sensors are working properly....
Plug-in hybrids, range-extended EVs gain traction
While overall vehicle sales are losing steam in China, demand for electrified vehicles remains robust. But that doesn’t mean China will ditch fossil fuel-powered engines any time soon, given the traction that plug-in hybrids and range-extended EVs are getting in the country. ...