Tag: news in the automotive industry

Ford sales rise 10% in the first quarter as inventory improves

By on
Ford Motor Co.’s US light-vehicle sales rose 9.9 percent in the first quarter, driven by increasing supplies and strong demand for new products. Sales by the Ford brand jumped 10 percent, making it the bestselling US brand in January through March. Lincoln sales fell 1.1 percent on fewer deliveries of the Corsair compact crossover. In March alone, the company’s sales rose 7.5 percent, with an 8.2 percent gain for the Ford brand and a 6.9 percent decline for Lincoln, according to the Automotive News Research & Data Center. Ford’s electric vehicle sales in the first quarter rose 41 percent from…
Continue reading

Mullen Automotive Accelerates Implementation of Its

By on
Class 1 commercial EV cargo vans to be outfitted with Mullen’s solid-state polymer battery technology, increasing current range from 110 miles to more than 200 miles on a single charge The first Class 1 EV cargo van test vehicle with the solid-state polymer technology will be hitting the roads for testing by Q4 2023BREA, Calif., April 04, 2023 (GLOBE NEWSWIRE) — via InvestorWire — Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the “Company”), an emerging electric vehicle (“EV”) manufacturer, announces today the integration of solid-state polymer battery technology into Mullen’s commercial Class 1 EV cargo van program. Currently, the…
Continue reading

Lithia Motors buys UK dealership group Jardine Motors

By on
Jardine Motors has more than 40 new-vehicle franchise points in the UK, with a portfolio of luxury brands including Aston Martin, Porsche and BMW, DeBoer said. Part of the conglomerate Jardine Matheson Holdings, Jardine is Europe’s 23rd-largest dealership group by annual revenue, according to Automotive News Europe’s 2022 Guide to Europe’s Biggest Dealers. The deal will add $2 billion to Lithia’s annual revenue, DeBoer said. In 2022, the company’s revenue surged 24% to $28.23 billion. “And more importantly, it gives us a foundation to grow more in the United Kingdom, which is helping us drive towards our $50 billion target…
Continue reading

These Automakers Can’t Quite Hold Onto Their First-Time Buyers

By on
The back of a Ram truck is seen on a sales lot on May 23, 2017 in Miami, Florida.Some automakers are struggling to convince first-time buyers to return to the showroom, Elon Musk tested that he really believed he’d be able to take Tesla private in 2018 with some help and Audi took Nio to court and won. All that and more in The Morning Shift for January 24, 2023. 1st Gear: The ‘Nomad Retention Challenge’ There’s apparently a name for people who purchase a car from a brand, but don’t buy their next vehicle from that same brand.…
Continue reading

Nissan Is Considering a Small Electric Pickup Truck for the US

By Didi on
Report: Nissan Considering a Small Electric TruckNissanNissan currently only sells the mid-size Frontier and the full-size Titan on American shores. With the Titan struggling to sell even half as well as domestic pickup-truck stalwarts such as the Ford F-150 and Chevy Silverado 1500, it’s only a matter of time until Nissan puts its half-ton truck and heavier-duty XD sibling out to pasture. However, a report by Automotive News suggests the Japanese automaker is considering building a small electric pickup for the US that might not only help offset the Titan’s inevitable death but also appeal to new types of…
Continue reading

Car dealerships slowly examine ChatGPT’s potential

By on
Dealerships may be dabbling in ChatGPT right now, but some of their technology providers believe adoption will happen swiftly. “I think we’re talking a year to a year and a half where [ChatGPT is] doing a huge amount of the car-buying process itself in an automated way,” Horwitz said. IMG05 TruVideo — maker of a messaging, video and AI platform for dealerships — added ChatGPT to its communications software and started a rollout of its updated technology in April, said CEO Joe Shaker. Shaker, who is also owner of Shaker Auto Group in New England, said the technology enables the…
Continue reading

The latest numbers on the automotive microchip shortage

By on
There are more signs that the microchip shortage is easing, even as automakers cut 82,573 vehicles from production plans worldwide last week, according to the latest estimates from AutoForecast Solutions. North American factories lost 38,677 vehicles because of a lack of semiconductors last week, in addition to 21,700 cut from assembly plants in China and 22,196 removed from production schedules elsewhere in the Asia-Pacific region. For the second consecutive week, AutoForecast Solutions lowered its full-year production-loss estimate for North America. It now expects about 954,206 vehicles to be cut in the region by year’s end, an improvement from the 1.01…
Continue reading

REE Automotive Announces First Quarter 2023 Financial

By on
TEL AVIV, Israel, May 23, 2023 (GLOBE NEWSWIRE) — REE Automotive Ltd. (NASDAQ: REE) (“REE” or the “Company”), an automotive technology leader and provider of electric vehicle (EV) platforms, today announced its financial results for the first quarter ended March 31, 2023, through a shareholder letter posted on the company’s investor relations website at https://investors.ree.auto. The company will also hold a conference call today, May 23 at 8:30 am ET. The live webcast of the conference call can be accessed on the Investors section of the Company’s website. Click here for webcast URL. For the telephone conference online registration, click…
Continue reading