Tag: car news websites

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.comCHRIS 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…

May sales up 13%, but remain well below pre-pandemic numbers

By on June 3, 2023

May marked just the second month of this year in which sales were up over 2021 totals, which were higher than 2022 totals in all but November and December of last year. DAC said that historically, May was more often than not the strongest sales month of the year over the previous decade. It took the sales crown eight times between 2010 and 2019. “The last three years have seen very different sales patterns, however, with the first the pandemic and then the semiconductor shortage, meaning that the traditional spring selling season failed to materialize,” the consultancy said in a…

Panasonic Confirms Third EV Battery Plant For The US

By on June 2, 2023

Japanese battery and electronic manufacturer Panasonic has confirmed it will build a third EV cell factory in the United States, according to Automotive Newsciting Panasonic Energy’s CEO Kazuo Tadanobu, who spoke at the company’s annual business strategy meeting yesterday. Currently, the Japanese electronics company operates a manufacturing facility along with Tesla at the EV maker’s Giga Nevada plant, and a second battery plant is being built in De Soto, Kansas, which will cost an estimated $4 billion when it’s all said and done. Reports of a third Panasonic EV battery plant in the United States surfaced last year, when “people…

US judge throws out lawsuit against Elon Musk over Twitter

By on May 29, 2023

A judge dismissed a proposed class-action lawsuit against Elon Musk that claimed he cheated Twitter shareholders several times last year in the course of buying the social media company for $44 billion. In a decision on Monday, US District Judge Charles Breyer in San Francisco said plaintiff William Heresniak lacked standing to sue because he challenged “wrongs associated with” Musk’s buyout, not the fairness of the buyout itself. Breyer said Heresniak did not show harm from Musk’s belated disclosure of a 9.2 percent Twitter stake, which the suit said let him buy more shares at lower prices before the buyout…