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Auto News
How Volkswagen stalled in China
BEIJING - At the end of December 2019, officials at Volkswagen's head office in Wolfsburg, Germany realized they might have a serious problem in China, the automaker's biggest market and the ticket to its electric future.
VW's flagship…
For environmentalists, the EV commitment brings déjà vu
CEOs of the world's largest automakers met with President Barack Obama at the Washington Convention Center in 2011 to announce that they had agreed to double the common gasoline-powered financial system of their automobiles to 54.5 miles…
Auto supplier Lear earns $ 175 million in second quarter but lowers full-year outlook
Lear Corp. reported second quarter net profit of $ 175 million, despite $ 1 billion in revenue due to production and supply issues hurting the company more than executives expected .
The Southfield-based automotive seating and electronics…
Schomp, Foundation Automotive buys stores in Colorado; Skyway Auto buys in Oklahoma
Colorado GrowthThe growing Canadian dealer group Foundation Automotive Corp. acquired its second Colorado Hyundai dealership in about two months.
Foundation Automotive, based in Calgary, Alta., Purchased Boulder Hyundai on July 29 from…
Renault moves closer to price equalization of its competitors
CEO Luca de Meo often says his mission within the Renault group is to create "value for volume" at the automaker, which had pursued ambitious sales targets around the world under the leadership of its CEO longtime Carlos Ghosn.
This…
BMW posts strong second quarter earnings but warns of microchip shortage
BMW raised its profit forecast for 2021 after strong quarterly results, but warned that the global semiconductor shortage and rising commodity prices would impact its performance in the second half of the year.
Net profit for the second…
Carsharing company Getaround to pay Washington, DC a settlement of $ 950,000 for operating without a…
WASHINGTON - Getaround inc. will pay Washington, DC, $ 950,000 and revise its business practices after allegedly distorting the benefits and nature of its carsharing services and failing to pay the city's sales taxes, the district…
GMC plans another electric pickup
Electric vans aren't even on the road yet and the segment is already starting to get crowded. With the Ford F-150 Lightning, Rivian R1T, GMC Hummer EV, and Tesla Cybertruck soon to hit the market, along with other options…
Daimler slashes car sales outlook due to chip shortage
Daimler said early-year growth in its main Mercedes-Benz division would be wiped out by the global semiconductor shortage the automaker expects to curb in the second half of the year.
Mercedes car sales are now expected to be roughly flat…
VW Group electric vehicle sales jump 165% in first half, boosted by European demand
FRANKFURT - The Volkswagen Group's global deliveries of fully electric vehicles more than doubled in the first half of the year, mainly driven by demand in Europe.
Deliveries of all-electric models of the group's VW, Audi, Porsche and…