Tag: latest news on automotive industry

Tesla Shattered Delivery Targets But Margins Remain The Question

By on July 16, 2023

A red Tesla Model 3 was seen on a lot outside a Tesla store.good morning! It’s Monday, July 3, 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: Volume, Volume, Volume Tesla moved 466,140 vehicles globally in the second quarter of 2023, when analysts expected about 448,000. Wall Street loves it when this happens, as evidenced by Tesla’s stock trending more than 6% up in premarket trading Monday. Courtesy Bloomberg: Read more“It’s a big…

How carbon-neutral e-fuels could extend the life of the ICE vehicle

By on July 14, 2023

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.…

Car dealerships, automakers target of new Impel Chat AI software

By on July 4, 2023

Chat AI is designed in part to integrate with existing dealership management systems, including those from CDK Global Inc., Reynolds and Reynolds, Cox Automotive Inc.’s Dealertrack and Tekion, Daly said. CDK Global confirmed to Automotive News that the tool can be integrated, while Reynolds and Reynolds said Impel’s tool is going though its certification process. Daly said Chat AI can also be woven directly into dealership websites. Additionally, Chat AI will be offered with Impel’s AI-driven digital engagement platform, which relies on proprietary shopper behavioral data and generative conversational AI technology to bring more personalized interactions to an auto customer…

Tesla’s 20-year transformation of the auto industry

By on July 2, 2023

“Over time we should cover all areas. It would probably make sense to develop a compact car as well as a van or minivan,” Musk said in September 2020 in a – rare – interview with Automotive News Europe sister publication Automobilwoche. Meanwhile, the model plans have progressed further, but there is a lack of concrete statements, especially on the compact model. Breaking conventions The reasons for the success of the company, which is 20 years old on July 1, are well known and widely discussed. Musk broke with industry conventions from the start. All-electric drive, central control architecture, smart…

Autoliv sees pricing helping it hit or beat a mid-term growth goal

By on June 15, 2023

STOCKHOLM — Autoliv expects to meet or exceed its medium-term business growth target while reiterating all of its financial goals for this year, a week after announcing around 8,000 job cuts to save costs. The world’s largest maker of airbags and seatbelts said that due to price increases to offset high-cost inflation, its business expansion was on track to significantly exceed growth in light vehicle production by four percentage points per year. In a statement ahead of its US investor day, Autoliv said when adjusting for those price increases, it would meet or exceed the growth target set for 2022…

Plante Moran study: Auto suppliers in dark on EV plans

By on May 28, 2023

The study captures North American automaker-supplier relations as parts makers navigate financial pressures stemming from inflation, unstable automaker production schedules, the shortage of microchips and rising interest rates. Those pressures, which began in late 2019 with the onset of COVID-19 and the UAW’s strike at GM, have tested relations between suppliers and their customers. Suppliers said there needs to be greater and more timely communication and transparency on short-term supply chain disruptions and on any changes in forecasting, Plante Moran reported. And it was found that many parts companies are frustrated by what they see as a disconnect between what…

Insurers sue Hyundai and Kia over costs of easily hot-wired vehicles

By on May 19, 2023

The widespread theft of vulnerable older Hyundai and Kia models not equipped with a crucial anti-theft device could end up costing the US insurance industry up to $600 million. Liberty Mutual, Nationwide, American Family and 65 other auto insurers, which comprise only a fraction of the country’s insurance companies, estimate that just their portion of the payout to owners who have been affected by the social media-driven crime wave could top $300 million . The insurers, who filed a lawsuit in US District Court in Orange County, Calif., in March, say they have already paid out $190 million. They are…