Tag: current automotive news

Carvana settles a long-running regulatory dispute with Illinois

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An Illinois regulatory official said Tuesday the state has agreed to settle a long-running regulatory dispute with Carvana Co. Per the settlement agreement, Carvana can continue to operate in the state, Illinois Secretary of State Alexi Giannoulias said in a Tuesday video announcement. The retailer admitted to violating Illinois law and agreed to abide by new restrictions, according to a news release from his office. The settlement allows the secretary of state’s office to suspend and revoke Carvana’s dealer license again if it fails to comply with either the agreement or state laws, according to the agency. The online used-vehicle…
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5 Tips for Safe Driving as the Days Get Shorter

By Didi on
Gloves? Check. jacket? Check. Beanie? Check. You wouldn’t go out into the cold without being prepared, right? It’s no different from driving as the days get shorter and wetter. To stay safe on the road, you need to be prepared for changing conditions. For example, kids go back to school in the fall, so there are more pedestrians and traffic now than there were during the summer. However, that’s just one factor to account for; fall and winter also bring fog, rain, glare, low light, and the occasional snow. Here are some tips to help you prepare for whatever winter…
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What if You Should Repair or Replace Your Windshield?

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If your windshield has recently been cracked, the first question you might ask yourself is: Does my windshield need repairing or replacing? Many Jacksonville, FL, vehicle owners have the same question. Below you’ll find some tips to help you decide if you need windshield repair or windshield replacement. When to Repair a Windshield Most people prefer to repair a windshield rather than replace it because it’s less costly. A chipped windshield is almost always repairable, and, in some situations, your insurance company might even cover the cost of the repair. For a chip to qualify for repairs, it shouldn’t exceed…
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VW’s PowerCo, Stellantis, Glencore back $1B mine deal in Brazil

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LONDON — Global miners Glencore, Stellantis and Volkswagen Group’s battery unit PowerCo have agreed to back a $1 billion deal by blank-check fund ACG Acquisition Company to buy two mines in Brazil, ACG said. The deal comes as a mining M&A spread picks up, spurred in part by investors betting on the rising demand for metals needed for the global green energy transition in coming years. ACG, a London-listed special purpose acquisition company (SPAC), will buy the Santa Rita nickel sulfide and Serrote copper mines from private equity funds advised by Appian Capital, which has hired Standard Chartered and Citigroup…
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Transparency, simplicity key to supply chain, auto execs say

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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…
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Toyota future EV plans include batteries with 900-mile range

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As it prepares for its new products, factory engineers will also introduce a slew of manufacturing techniques for the 2026 EVs. Their goal is to halve the number of production processes, halve the amount of plant investment and halve the amount of production lead needed to set up for new nameplates. The new techniques will include the use of giga casting, which eliminates the countless parts and brackets by essentially casting the vehicle’s front and back as two giant modules. The under-rear section of the current Toyota bZ4X, for example, is an amalgam complex of 86 parts manufactured through 33…
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Aston Martin to renew DB11, Vantage, DBS sports cars in 2023

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LONDON — Aston Martin will reveal the first of its overhauled sports-car range at the end of this month, Chief Financial Officer Doug Lafferty said. The automaker has promised to reveal new versions of its three core sports-car models – the DB11, Vantage and DBS – over the next 12 months. The company has not said which will be first, but the DB11 is the oldest model in its lineup. Aston Martin will increase prices on all three cars as it looks to return to profitability with a target margin of 40 percent. “All the next-generation sports cars carry that…
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Tesla will shoot for volume over profit: Elon Musk

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Tesla missed market estimates for first-quarter total gross margin after cutting prices in the US and globally. The electric vehicle maker reported a total gross margin of 19 percent, compared with an expectation of 22 percent from analysts polled by Refinitiv, Reuters reported. Net income during the most recent period dropped 24 percent to $2.5 billion. Tesla reported global deliveries of 422,875 in the first quarter, a 4.3 percent increase compared with the previous quarter. That small growth suggests price cuts were necessary to maintain momentum amid rising EV competition and higher interest rates. The EV maker likely sold 161,630…
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