Tag: automotive news europe

Bob Loquercio Auto buys Ford, Toyota and Lexus dealerships

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Bob Loquercio Auto Group has expanded with the addition of three dealerships in Peoria, Ill. CEO Bob Loquercio and his namesake group on April 5 purchased O’Brien Lexus of Peoria, O’Brien Toyota of Peoria and O’Brien Ford of Peoria from Joe O’Brien of O’Brien Auto Team, Loquercio confirmed to Automotive News. The dealerships, in central Illinois, were renamed Peoria Toyota, Lexus of Peoria and Ford of Peoria. Loquercio said his brother, Anthony Loquercio, also purchased an undisclosed stake in the Peoria Ford store. Bob Loquercio said the group’s first Lexus store will get updated, with construction expected to begin in…
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Nikola, once the ‘Tesla of trucking,’ sells stock at a discount

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Nikola Corp.‘s planned move to ramp up production of semitrucks powered by electric batteries and hydrogen fuel cells will be costly. The Phoenix company is expected to raise $100 million for “working capital and other general corporate purposes” through a secondary stock sale of roughly 90 million shares. The sale is expected to close by the end of the day at $1.12 a share. That’s a 20 percent discount compared with the stock’s closing price of $1.40 per unit March 30, the day it announced the offering. Nikola, one of the first EV companies to go public via a special…
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Toyota predicts $50,000-plus average new-car price this year

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Top executives at Toyota’s North American operations anticipate new-vehicle average transaction prices will break the $50,000 barrier and continue to rise, that demand will outstrip supply again this year even as the supply chain recovers and that there now may be as many as 6 million potential new-vehicle buyers sidelined by inventory and pricing. Speaking to reporters Monday to give a periodic update on the Japanese automaker’s business, Jack Hollis, head of sales for Toyota Motor North America, said 2023 would likely see Toyota and Lexus pick up another 100,000 sales above the 2.1 million it sold in the last…
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How to Take Care of Your Newly Replaced Windshield

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Knowing what you need to do to take care of a windshield that has recently been replaced is the first step in maintaining your investment. Be sure to keep your new windshield in good condition and make sure it will last as long as possible by using the tips and information found here after installation. These tips include:Don’t drive the vehicle right away Leave your window cracked open a little Keep the area both inside and outside of your vehicle clear Don’t take the retention tape off Avoid using power washers or going through a car wash Go easy…
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SPOTLIGHT: 15 questions with Corey Smith

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Corey Smith is the national fixed operations training manager at National Auto Care. First car: Eagle Summit First concert you attended: Joan Jett Name a pet peeve: Chewing sounds Most thrilling/adventurous thing you’ve done: Ziplining in Mexico your personal heroes: My stepfather Craig A. Smith First job: Raking blueberries in Maine One thing you learned on the job you never forgot: Pay attention to small details If you could pick up a new skill, what would it be? Being able to fix cars 3 people you’d invite to dinner, living or dead: Steve Jobs, Shaq, Ed Roberts What did you…
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Germany’s auto industry must defend itself in moving to EVs

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Germany for decades led on well-engineered combustion cars. It’s now facing a watershed year in the quest to retain an edge in the age of electric vehicles. Europe’s biggest economy is under growing pressure to retool dozens of fossil fuel-era factories employing tens of thousands of workers in a race for clean-technology leadership with the US and China. Volkswagen Group, Mercedes-Benz and BMW are rolling out several new battery-powered models in the coming months that will be pivotal to proving they can finally start to narrow the gap to Tesla and China’s BYD, the two clear leaders in EV sales.…
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Magna to build three plants to supply Ford Blue Oval City

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Magna’s project is the latest example of a major supplier investing to alter its manufacturing footprint with an eye toward winning EV-related businesses as the industry’s electrification push continues. This is the third significant investment Magna has made in its battery enclosure manufacturing footprint in the past year. In that time, the company also committed about $700 million to build or expand battery enclosure plants in Michigan and Ontario, the latter of which supplies Ford for F-150 Lightning production. Battery enclosures are a significant “target area” for Magna as it positions itself for EV production in the coming years, said…
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How carbon-neutral e-fuels could extend the life of the ICE vehicle

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To be sure, e-fuel won’t be traveling through nozzles at public stations anytime soon. Refiners have a lot of work to do in perfecting high-volume methods to produce e-fuel in enough quantity and at a comparable cost to gasoline. And there are other issues, too. For example, producing e-fuel requires a lot of water, which is a scarce commodity in many parts of the world. It also requires electricity from renewable sources. Bentley CEO Adrian Hallmark told Britain’s Autocar magazine that the progress of developing e-fuels is exciting, but that won’t change the brand’s plans to replace internal combustion engines.…
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