Tag: car news websites

Magna to build three plants to supply Ford Blue Oval City

By on July 20, 2023

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…

Rolls-Royce says it will blacklist customers selling Specter EVs

By on July 12, 2023

It’s one strike and you’re out at Rolls-Royce. The ultraluxury brand says anyone caught reselling its first electric vehicle, the Specter, for profit will be banned for life. “They’re going immediately on a blacklist and this is it — you will never ever have the chance to acquire again,” Rolls-Royce CEO Torsten Müller-Ötvös told Car Dealers magazines. Deliveries of the Specter, which costs about £350,000 ($450,000) and has a 320-mile driving range, are scheduled to start in the fourth quarter of 2023. The aerodynamic electric coupe has amassed so many orders that Müller-Ötvös is already talking about needing to increase…

Port of Vancouver strike would affect auto retail

By on July 1, 2023

BCMEA, which represents a range of port employers, including terminal operating companies and shipping agents, said the notice was a “regrettable development” after months of talks. The previous collective agreement between the labor union and employer expired March 31. BCMEA said it would remain engaged with the union through the federal mediation process “with the desire of reaching a fair and balanced deal at the table that keeps our ports stable and goods flowing for Canadians.” Grain shipments will continue to move, even if ILWU members walk out July 1, but servicing of vessels used by all other industries, including…

Expert Insights: Dealership Succession Planning

By on June 28, 2023

ABOUT THE PANELISTS FARID AHMAD Founder and Chief Executive Officer, DSMA With over 35 years of global auto industry experience, Farid is considered a genuine industry expert by dealers and OEMs alike, with his finger on the pulse of the automotive marketplace across North America. Farid is founder and CEO of DSMA, an automotive intelligence and M&A advisory service with more than 1,000 years of combined industry experience and over 1,500 valuations and over 400 completed transactions. For the second consecutive year, DSMA has placed on the 2022 Report on Business ranking of Canada’s Top Growing Companies. www.dsma.com CHRIS SCHAUFELE…

Stella Automotive AI hires Rich Sands as CEO

By on June 21, 2023

Stella Automotive AI, a Tampa, Fla., auto retail technology startup funded in part by dealership groups Maroone USA and Pohanka Automotive Group, has hired auto industry consultant Rich Sands as its new CEO. His hiring, effective May 26 and announced Monday, comes after the company in early May announced it had closed a seed round of financing. Beyond Geoffrey Pohanka, the 2023 chairman of the National Automobile Dealers Association and chairman of his namesake group, and Mike Maroone, CEO of Maroone USA, funding round participants included Czubay Family Enterprises and Presidio Group, a Denver and Atlanta investment banking and advisory…

Transparency, simplicity key to supply chain, auto execs say

By on June 16, 2023

Young was joined by Jonathan Jennings, vice president of supply chain for Ford Motor Co.; Jeff Morrison, vice president of global purchasing and supply chain for General Motors; Ray Scott, president and CEO of Lear Corp.; and David Dauch, chairman and CEO of American Axle & Manufacturing. The roundtable was part of the Automotive Golf Classic, an annual event hosted by Automotive News, benefitting the Boys & Girls Clubs of Southeastern Michigan. The panel discussion, which took place at Indianwood Golf & Country Club in Orion Township, was moderated by Philip Nussel, online editor at Automotive News. The auto executives…

Need to Fix Damage to Your Rear Windshield?

By on June 15, 2023

Damage to your auto glass can put you and others in your vehicle at risk. Working with a company that offers professional auto glass services is usually the best way to resolve these problems quickly and effectively. If your rear windshield has sustained damage in an accident or by flying road debris, here are some of the most important things you should know about auto glass repairs for your vehicle in Tampa, FL. What Are the Two Types of Auto Glass? Auto glass generally falls into two basic categories. Tempered glass is used for rear windshields and window glass in…

Millions Of Kia Cars Could Have Dangerous Airbags

By on June 13, 2023

View of the dashboard of a 2007 Kia Optima as it’s being driven. good morning! It’s Thursday, June 1, 2023 and this is The Morning Shift, your daily roundup of the top automotive headlines from around the world, in one place. Here are the important stories you need to know. 1st Gear: Kia And ARC Automotive On Wednesday, a newly released federal document placed the number of Kia vehicles equipped with airbags supplied by Knoxville-based ARC Automotive at almost 4 million, according to The Wall StreetJournal. This is believed to be merely a fraction of the total number of affected…