Trade News

CARLSBAD, Calif. — The plug-in version Toyota's redesigned Prius sedan, the 2023 Prius Prime, is now able to travel up to 44 miles on battery power alone when its larger battery is fully charged and will start at $33,445 — both up substantially from the current generation model it is replacing.

The 2023 Prius Prime's stem-to-stern upgrade follows that of its traditional hybrid namesake, which went on sale earlier this year. Toyota — which is still being hampered by production issues — believes it can sell about 10,000 plug-in versions of its groundbreaking hybrid this year and about 15,000 next year, despite a 12 percent year-over-year jump in the starting price over the outgoing model.

The big change from the outgoing Prius Prime is a larger 13.6-kWh lithium ion battery paired with a more powerful 2.0-liter four-cylinder engine, enabling the 2023 model to travel an extra 19 miles on battery power alone, compared with the current generation's 25-mile range. Read more

GMC and Chevrolet are updating the engines on their full-size pickup trucks for the 2024 model year.

GMC on Wednesday said it will make General Motors' second-generation 3.0-liter inline-six Duramax Turbo-Diesel engine standard on the 2024 Sierra 1500's AT4X off-road trim starting this summer, after it was offered on some 2023 trims. The engine is paired with a 10-speed automatic transmission and offers 305 hp and 495 pound-feet of torque.

The 2024 Sierra also is getting other updates, including power retractable assist steps on the Denali, Denali Ultimate, AT4 and AT4X trims; two more premium aluminum wheel options; and two new exterior paint colors, Downpour Metallic and Thunderstorm Gray.

Meanwhile, Chevy said the 3.0-liter Duramax Turbo-Diesel engine and 10-speed automatic transmission will be added to the 2024 Silverado 1500 ZR2.

The Silverado's 2024 updates also include new exterior paint colors, Lakeshore Blue Metallic and Slate Gray Metall…

To support its transition from gas guzzlers to electric vehicles, China has rolled out more public charging facilities than the rest of the world combined. The problem is many are barely being used.

New research from the Oxford Institute for Energy Studies found that public charging posts in China are used on average about once a day. Some connectors along highway routes are particularly unloved, with an average utilization rate of 1 percent, according to the study.

The low usage illustrates the tricky reality of public charging networks: Reliable infrastructure is needed to help ease consumers’ anxiety about running out of battery range, but more EVs are needed to make the stations economically viable. China’s predicament suggests that investments other countries are making to support higher electric-car adoption may take time to pay off.

“Utilization of chargers is fairly low, so you’re not going to necessarily make a lot of money by having a charging…

NEW YORK — Jeep is upping the comfort and technology in the 2024 Wrangler as the venerable nameplate jousts with the Ford Bronco.

The refreshed Wrangler SUV is getting a quieter cabin and power seats in the front row on top trim levels, standard wireless Apple CarPlay and Android Auto, a larger 12.3-inch touch screen in the center stack, and the Uconnect 5 infotainment system.

The vehicle is debuting Wednesday at the New York auto show. Consumers can order it now, and it's expected to arrive at U.S. Jeep dealerships later in 2023.

Now that the Wrangler has a direct rival in the Bronco, which Ford revived in 2021, did that influence Jeep's decisions on the refresh?

"All I can say is competition is good," said Jim Morrison, Jeep's North America head.

That competition is heating up as U.S. sales of the Bronco rose 38 percent in the first quarter to 32,430, while Wrangler volume fell 17 percent to 37,971.

The latest Wrangl…

Kia's three-row EV9 crossover will be built alongside the popular Telluride large crossover in West Point, Ga., next year and promises to bring a similar mix of utility and style to the U.S. electric vehicle market, the automaker said.

The EV9, presented Wednesday at the New York auto show, is the flagship model for Kia's global transition to EV technology, according to the brand, and follows the 2022 U.S. launch of the two-row EV6 crossover.

"The EV9 is a credible, high-value SUV that encapsulates our approach to bringing innovative, consumer-focused products to market with a serious commitment to electrification," Sean Yoon, CEO of Kia North America, said in a press release.

Kia said the big EV offers "premium accommodations rivaling ultra-luxury SUVs," with a dual-display cockpit that includes multiple camera feeds for tech-hungry buyers. The EV9 will come in six-seat and seven-seat configurations.

Like the gasoline-powered three-row Tellurid…

Growing Key Auto Group acquired four dealerships in three transactions in the fourth and first quarters and appears to have entered three states in the process.

Key Auto, of Portsmouth, N.H., on Friday bought Boardwalk Acura in Egg Harbor Township, N.J., west of Atlantic City, from auto retail giant Group 1 Automotive Inc.

The dealership was renamed Key Acura of Atlantic City, according to Performance Brokerage Services Inc., an Irvine, Calif., buy-sell firm. Gershon Rosenzweig and Matt Wilkins from Performance Brokerage facilitated the transaction.

Key Auto doesn't have any other New Jersey dealerships listed on its website.

The Acura dealership generated $20 million in annual revenue, according to Pete DeLongchamps, Group 1's senior vice president of manufacturer relations, financial services and public affairs.

The sale marked Group 1's first U.S. dealership divestiture since it sold a Massachusetts Honda dealership in September, DeLongc…

Subaru's No. 1 seller, a baby ute, is getting more off-road chops.

The redesigned third-generation 2024 Crosstrek will be available with a Wilderness package starting in the fall, Subaru said Wednesday at the New York International Auto Show, where the subcompact crossover was unveiled.

The Crosstrek Wilderness is equipped with an upgraded suspension, longer coil springs and shock absorbers and all-terrain tires, providing 9.3 inches of ground clearance — more than a half-inch increase over other Crosstrek models.

It is powered by Subaru's 2.5-liter engine with 182 hp and 176 pound-feet of torque.

Subaru is billing it as the most rugged and trail-capable Crosstrek to date.

The Crosstrek Wilderness drivetrain has been retooled to enhance off-road performance by installing a revised differential gear ratio and retuned continuously variable transmission. The 4.111 final drive ratio — vs. 3.7 — improves the ute's climbing ability, and …

Ford Motor Co. said Wednesday that all three of its electric vehicles and plug-in hybrids are eligible for Inflation Reduction Act federal tax credits in 2023.

The company's Mustang Mach-E electric SUV will be eligible for a $3,750 credit, while the F-150 Lightning pickup truck will be eligible for a $7,500 credit.

Ford said in March it expects its electric-vehicle business unit to lose $3 billion this year, but will remain on track for a pretax margin of 8 percent by late 2026.

Sales of Ford's electric vehicles jumped 41 percent in the first quarter, data on Tuesday showed.

NEW YORK — The redesigned Hyundai Kona Electric will have about the same maximum range as the first-generation version, the company said Wednesday as it revealed the new look for the first time in North America.

The subcompact crossover will be able to go up to 260 miles per charge, according to Hyundai's preliminary estimates, in line with the EPA's 258-mile range rating for the current model. Gasoline-powered N Line and Limited versions were also unveiled at the New York auto show.

The Kona, one of the more affordable electric vehicles in the U.S., is important for Hyundai, particularly after its popular Ioniq 5 crossover was excluded from federal tax credits under the Inflation Reduction Act. That was because the vehicle, like the Kona, is assembled in South Korea, not North America.

“By starting with an EV mindset, we were able to bring many of the benefits of the EV to all our Kona models. Things like interior space that’s optimized for the people…

The 2025 Ram 1500 REV electric pickup will have a more conservative look than the Revolution concept truck shown earlier this year and a targeted range of 500 miles with its largest battery pack — numbers that will best its competitors.

Ram said the REV will offer a standard 168-kilowatt-hour battery pack with a range target of up to 350 miles, while it's aiming for up to 500 miles with the optional 229-kWh battery pack. An extended-range version with a gasoline-powered engine to charge the battery also is in the works, Stellantis CEO Carlos Tavares said.

The REV, Ram's first battery-electric pickup, was slated to debut Wednesday morning at the New York International Auto Show.

Scheduled to go on sale in late 2024, the REV made a brief appearance in the brand's Super Bowl ad in February. Ram leveraged the game's massive audience to jump-start reservations and the REV sold out in three days. Brand CEO Mike Koval Jr., highlighting the excitement around t…

NEW YORK — Jeremie Papin, chairperson of Nissan Americas, said the company's Ambition 2030 strategy is going to involve even more cooperation with dealers than the company has been enjoying in recent years.

In the near to medium future, he said, he envisions dealers remaining involved with vehicles through multiple owners, by way of second-life battery usage, leases of pre-owned vehicles and over-the-air updates.

"We don't want to be successful at the expense of the customer, at the expense of our dealers [or] at the expense of our suppliers," he said Tuesday at the New York Auto Forum. "We want all of our constituents to be successful."

In the wake of former Chairman Carlos Ghosn's hard-charging goals, Nissan has been improving its relations with dealers. The greater collaboration is important as more mainstream consumers adopt electric vehicles — a business in which Nissan was a pioneer.

With the introduction of the Ariya electric crossover, Nis…

General Motors outsold Ford Motor Co. in electric vehicles by nearly two-to-one in the first three months of the year as the automakers chase market leader Tesla Inc.

Ford sold 10,866 EVs in the US during the first quarter, according to a statement Tuesday. That was up 41 percent from a year ago, but was still well behind the 20,670 plug-ins GM sold in the same period. Overall, Ford’s light vehicle deliveries rose almost 10 percent, while GM’s first-quarter sales were up 17.6 percent.

Sales of Ford’s electric Mustang Mach-E fell 19.7 percent to 5,407 vehicles, with its factory in Mexico down for much of the quarter as the automaker expands it to double capacity to 210,000 models a year. Ford also lost five weeks of production of its F-150 Lightning plug-in pickup due to a battery fire, which led to a small recall.

Ford CEO Jim Farley has set a goal to initially be No. 2 to Tesla, which controls two-thirds of the U.S. EV market, and eventually overtake th…