Tesla Inc.’s production outage has been extended by at least 12 days, manufacturers are stockpiling critical semiconductors due to a truck driver shortage, and bankers are camped out in their offices as Shanghai’s Covid-19 lockdown affects business in China’s financial hub. Cases are at an all-time high in the city, which has become the heart of China’s biggest outbreak since the pandemic began, and the city has been placed on lockdown indefinitely. While the country continues to adhere to its stringent Covid-Zero containment strategy, President Xi Jinping’s desire to prevent economic effects is becoming more difficult to fulfil in the…
Author: hendfares88
Wheelers Family Auto Group, run by a brother-and-sister duo who grew up in the automotive retail industry, acquired Charles Automotive Inc., a Chevrolet-Buick dealership in Coloma, Wis., last month. On March 1, the Wheelers acquired the dealership from Charles Plach, renaming it Wheelers Chevrolet-Buick. This is the Wheelers’ fifth new-car dealership, all of which are located in Central Wisconsin and are franchised by General Motors. Mary Jo Wheeler-Schueller is the group’s president and dealer principal, while Daniel Wheeler serves as the group’s chief financial officer. Wheeler-Schueller also serves as the chair of General Motors’ Women’s Dealer Advisory Council. Wheelers, headquartered…
Washington, D.C. The United States government may require more than 100,000 charging stations to ensure broad EV use, a government watchdog testified Tuesday during a congressional hearing. According to testimony from the Government Accountability Office, government agencies owned around 1,100 charging stations as of March. President Joe Biden signed an executive order in December requiring the US government to phase out gas-powered car purchases by 2035. The House Oversight and Reform Committee will host a hearing on the United States Postal Service’s intentions to purchase primarily gas-powered next-generation delivery trucks. The United States Postal Service is not covered by Biden’s…
Rivian Automotive, a California-based electric vehicle startup, reported first-quarter production of 2,553 vehicles at its Normal, Illinois, manufacturing plant and 1,227 deliveries during the same period, as the company continues to grapple with supply-chain issues affecting the global auto industry. “These statistics are consistent with the company’s estimates, and the company thinks it is well positioned to meet the 25,000 annual production guidance announced during the company’s fourth-quarter earnings call on March 10, 2022,” the automaker said in a regulatory filing. Rivian did not offer first-quarter production figures for particular models. Rivian’s shares increased 1.45% to $42.80 in after-hours trade…
Two legislation aimed at allowing Florida auto dealers more flexibility in transferring vehicle titles to customers fizzled last month. According to Florida law, dealers “shall” obtain and transfer automobile titles within 30 days of sale. Earlier this year, a few Florida politicians proposed extending the deadline and easing penalties for COVID-19-affected dealers who missed it. The bills made it to committees in the state Senate and House, but the Legislature was too busy, according to state Rep. Andrew Learned, a co-sponsor in the House. “I don’t think [titling concerns] are top of mind for a lot of folks, so it…
Starting in 2027, GM and Honda will co-develop a series of cheap electric automobiles. With this partnership, automakers believe they can produce “millions” of EVs, including compact crossovers. The vehicles will be powered by GM’s Ultium battery technology, according to a joint statement released Tuesday. GM and Honda will also unify equipment and processes to improve quality, productivity, and lower costs for consumers. They will also consider collaborating on EV battery technology to lower costs and increase performance. “By working together, we’ll put more people in EVs faster than either firm alone,” GM CEO Mary Barra stated. They revealed the…
DETROIT, MI — Assembly facilities will become more adaptable and nimble as a result of the proliferation of big data, the transition to electric vehicles, and improved insight into the supply chain, a Toyota Motor Corp. manufacturing leader said Tuesday. Brian Eggleston, Toyota’s general manager of strategy and planning, told attendees at SAE International’s World Congress Experience in Detroit that the industry’s transformation is providing businesses with a “amazing opportunity to re-imagine the infrastructure” on which they have relied for decades. He explained that assembly facilities are beginning to use massive volumes of data generated by their machines, providing insight…
Lithia’s 2025 revenue target is roughly double AutoNation’s 2021 revenue target and more than quadruple Lithia’s revenue last year. Additionally, it would nearly treble Lithia’s current franchised dealership count in the United States, which stands at 268. Lithia reported having 278 dealerships at the end of 2021, although that figure includes 13 locations in Canada, and the company has purchased and disposed locations in 2022. While AutoNation and Penske have recently acquired locations, they are not acquiring at the same rate as Lithia or even other top ten competitors. Only Asbury Automotive Group Inc., which rose one rank to No.…
The Honda HR-V, which will be revamped for North American buyers in 2023, is rising in size while fulfilling three critical tasks for the brand: luring younger, entry-level, and minority buyers. The new HR-V was presented Monday, with a more young and modern appearance that includes a low horizontal beltline, a taller hood, a larger grille, and wide-set LED headlights and taillights. The next HR-V, which goes on sale this summer, will take on an even greater role as a “gateway vehicle” for the Honda brand.
Polestar is Hertz’s second large EV deal. The rental firm placed an order for 100,000 Teslas in October, the first step in a grandiose ambition to electrify its fleet. Hertz’s electrification programme, which will eventually affect almost 500,000 cars and trucks worldwide, is the company’s first major move since emerging from bankruptcy in June. Hertz will first order the 2020 Polestar 2 fastback with four doors. The sedans will be available for rental at Hertz locations around Europe this spring, with North America and Australia following in late 2022. On Monday, Hertz CEO Stephen Scherr told Automotive News TV that…