Trade News

TOKYO — Toyota Motor Corp.'s CEO on Friday gave a stark assessment of the Japanese automaker's work ahead in China, saying it must move faster as competition in the world's biggest auto market surges.

Toyota is under pressure in China from local brands such as BYD Co. that have moved aggressively in tapping into the country's growing market for battery-powered and plug-in hybrid electric vehicles.

"We need to increase our speed and efforts to firmly meet the customer expectations in the Chinese market," Toyota CEO Koji Sato, said during a roundtable interview with members of the foreign media in Tokyo.

"Considering the impact of the Shanghai motor show, I believe China will become an advanced market for EVs."

The world's biggest automaker by sales used the Shanghai auto show this week to unveil two new EVs, a move that will double the number of EVs it markets in China under its mainstream brand.

The company said this month it will la…

Polestar will take over part of Saab's former car plant in Sweden to extend its R&D operations in Europe.

The EV maker will conduct powertrain development for the Polestar 5, a Tesla Model S rival, and the Polestar 6 roadster at a 15,000-square-meter building in Trollhattan, Automotive News Europe sister publication Automobilwoche reported.

Polestar will also test powertrains, electric motors and batteries for the upcoming models at the new R&D center.

Polestar will rent the building from the city of Trollhattan, Automobilwoche said.

The site was previously used for powertrain development by Saab and then by National Electric Vehicle Sweden (NEVS).

Saab collapsed in 2011 and NEVS closed down last month.

Polestar also has R&D facilities in Gothenburg, Sweden, which is about 90 km south of Trollhattan, and in Coventry, England. In England the automaker is developing its own lightweight bonded-aluminum platform that will un…

Maserati wants to give customers the luxury of choice amid the industry's shift to electric vehicles.

The new Grecale crossover, with its numerous powertrain offerings, is a prime example of this approach.

The Grecale, which arrived in the U.S. in late 2022, has two mild-hybrid trims and a high-performance conventional gasoline model with a 523-hp V-6 engine derived from Maserati's MC20 supercar. The next step for the Grecale is full electrification, and when that version arrives in the fourth quarter, it will be the Italian brand's first electric crossover.

The story is the same across Maserati's portfolio, with a mix of internal combustion engines that includes V-8 entries and a promise of broader electrification.

Maserati is not a large brand, but the support from parent company Stellantis has enabled it to pursue such a varied slate.

"The only reason we can do this is because we're part of Stellantis," Maserati Americas CEO William Pef…

DETROIT — The development of a new, nonlinear supply chain will be key to unlocking hundreds of billions of dollars in potential annual revenue from software, industry executives said on a panel at SAE's World Congress.

The traditional supplier tier model is "falling apart," said Maria Anhalt, CEO of software specialist Elektrobit. As automakers look to develop software-defined vehicles, they're increasingly working directly with software providers or tech companies instead of relying solely on traditional Tier 1 suppliers, she said.

"Many OEMs or tech giants come directly to us to start collaborating or co-developing something," she said during a Wednesday panel. "It's not like a tier hierarchy anymore. It's not a chain. It's a graph that can be pulled in both directions."

Industry executives expect much of the value of future vehicle models to stem from software products and services instead of simply the initial sale of the vehicle. Investment bank U…

A conversation with Lincoln’s new president Dianne Craig, who says the brand needs fewer dealers and a more flexible EV strategy. Plus, income drops for AutoNation and Ally in the first quarter, and profits fall for Tesla.

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Today, inflation continues to drive up prices across the automotive sector, including auto repair parts and labor costs. In fact, service contract repair claims have experienced double-digit increases, threatening the profitability of this vital source of revenue.

In Assurant’s recent Global Auto Mechanical Repair Inflation Report, you’ll discover:

What’s driving repair inflation Where repair inflation is trending now How employment trends drive up dealer costs How dealers can maintain F&I profitability in an inflationary environment

Today's consumers are under pressure -- and it shows.

In recent US research, GfK Consumer Life learned that “price is the most important factor in my purchase decisions” is now the #8 leading attitude among 41 tracked – up from #13 in 2008. By contrast, Americans now are much less likely to say, “I'm a spender, not a saver.”

As they search for their next cars, today’s auto intenders are contending with powerful and sometimes competing marketplace forces.

In this all-new guide from GfK AutoMobility®, understand the desires, fears, and expectations that underlie these key issues, with guidance on how car makers and sellers can respond and move toward success.

Affordability – Learn which buyers and vehicle types are being hit the hardest by today’s affordability “crisis” – and what the future may hold when it comes to pricing and financing. Stay-at-home culture – Discover how work-at-home arrangements have transformed intender needs and preferences, and what other trends seem destined to be shaping the marketplace for years to come. Sustainability – Understand what consumers really expect of brands today when it comes to sustainability, and how can auto makers avoid claims of “green washing” from activist consumers?Download this rich and insightful playbook of the key issues facing auto maker…

Jaguar Land Rover will now be called JLR in a rebrand that shifts the focus onto four subbrands: Range Rover, Discovery, Defender and Jaguar.

JLR will become a "House of Brands" in a change of strategy that will help "amplify the uniqueness of our characterful British marques," Gerry McGovern, chief creative officer, said in a statement.

JLR has been trying in recent years to separate its mainly SUV lineup and create more distinction between vehicles by giving them discrete personalities.

The strategy within Land Rover since 2021 has been to separate vehicles into three "pillars," with Range Rover taking the lead on luxury, Discovery focusing on families, and Defender drawing on its off-road roots to major in durability.

With the updated strategy, each Land Rover pillar is turned into a fully fledged brand, joined by the newly luxurious Jaguar.

JLR announced Wednesday that Jaguar's first car under its new strategy will be a four-door elec…

BANGKOK — Chinese automaker Changan Auto will invest $285 million in a facility in Thailand to produce 100,000 electric vehicles annually, Thailand's Board of Investment said on Thursday.

The company aims to sell the EVs in Thailand, Southeast Asia, Australia, and South Africa, said the board's secretary-general, Narit Therdsteerasukdi. 

Thailand is Asia's fourth-largest autos assembly and export hub for carmakers like Toyota and Honda. The industry accounts for about 10 percent of Thailand's GDP and manufacturing jobs.

"Changan's decision to invest in Thailand is a significant milestone in promoting the country as the world's major EV production base," said Narit.

Other Chinese EV makers like BYD have also invested in Thai plants as demand heats up among domestic consumers choosing from brands like Great Wall Motors and Tesla.

NEW YORK — Lincoln's new president is working to galvanize the luxury brand's stalled revival by shrinking its dealer network, refocusing its electrification strategy and updating its products to spark interest from new and returning customers.

"We have to get our mojo back," Dianne Craig told Automotive News this week in New York as Lincoln introduced the redesigned Nautilus, a product she hopes will be key to that plan.

Lincoln executives spent much of the past decade working to make the brand relevant again in an increasingly crowded luxury market. Their efforts succeeded to an extent — U.S. sales topped 112,000 vehicles in 2019, a 12-year high — then flatlined when the pandemic hit.

Craig, who succeeded Joy Falotico in December, now vows that Lincoln will grow again.

"It's really very straightforward — great products, great service," she said. "That will define the future of the brand."

Many of Lincoln's retailers, however, may not be …

SHANGHAI – With the Chinese car market rapidly shifting toward electrified vehicles, Japan's top automakers are bleeding market share despite their advanced hybrid technology and fuel efficient powertrains. 

To shore up their presence in the market, they are ramping up development of EVs specifically for China, either on their own or with local partners.

At the Shanghai auto show, which began Tuesday, Toyota Motor Corp.'s Toyota division unveiled two concept crossover models under its bZ series of EVs – the bZ Sport Crossover Concept and the bZ FlexSpace Concept. 

Toyota said production models will hit the market next year. The bZ Sport Crossover Concept was developed with assistance from its technology partnership and China’s largest electrified-vehicle maker, BYD Co., Toyota said this week. 

The bZ Sport is the second EV model the Japanese auto giant has developed with BYD, following the bZ3 sedan, which went on sale on April 16…