Trade News

Mobileye Global Inc., a global supplier of advanced driver assistance systems and autonomous driving technology, established a test center in Shanghai last week.

The facility in Shanghai’s suburban Jiading district will  test and validate  technology to ensure it provides customers in China with advanced and reliable solutions, Mobileye said.

Mobileye said it won 24 projects from 12 Chinese automakers in 2022. As a result, its revenue from China more than doubled from levels in 2021, the company said, without disclosing the exact figures. 

Sales of used light vehicles in China surged 35 percent from a year earlier to 1.18 million in February after slumping 15 percent a month earlier, the China Automobile Dealers Association said.

The market last month benefited from the timing of the Chinese New Year holiday.

The week-long holiday began on January 21. Last year, it started on January 31. As a result, February had more working days than the same month last year. 

The rally in sales was broad, with all segments of the used-vehicle market posting major gains. 

Deliveries of used sedans spiked 36 percent to some 873,100, while the volume of secondhand crossovers and SUVs jumped 35 percent to about 186,000.

Sales of used multi-purpose vehicles also surged 35 percent to around 88,800 while demand for used minibuses rose 19 percent to roughly 28,400.

In the first two months, the market for used light vehicles expanded 6.3 percent to approach 2.19 million. 

The average backlog at new-vehicle stores marketing foreign mass-market brands and producing in China rose to a 65-day supply in February from a 57-day supply the previous month, according to the China Automobile Dealers Association.

The trade group blamed the increase in dealership stockpiles at foreign brands on weak demand for gasoline vehicles as the market transitions more and more to electrified products.

In February, inventories at stores stocking luxury brands and imported vehicles remained unchanged at 51 days.

Stockpiles at dealerships under Chinese brands slid to 52 days from 53 days a month earlier.

As a result, the average backlog at new-car dealerships across all brands climbed to a 58-day supply in February from a 54-day supply the previous month, 

Geely Automobile Holdings’ premium brand Lynk & CO reported the highest average dealer stockpiles at 92 days. 

It was followed by Cadillac and Buick stores, wh…

Audi will decide this year whether it needs to build a production facility in the United States to take full advantage of the electric vehicle tax subsidies contained in the Inflation Reduction Act, the premium brand's CEO said Thursday.

Speaking from Germany during Audi's annual press conference with global media, CEO Markus Duesmann said the brand is actively studying whether to expand its production footprint into the U.S. and will make a decision soon.

"The United States is an extremely important market for us," Duesmann told journalists through an interpreter on an online broadcast. "We have considered to expand capacities, but the decision has not been taken yet."

As for the Inflation Reduction Act, Duesmann said "you cannot ignore it as a company, and it has to be a wake-up call. And the European Union also have to find an answer to this, but it must be a nonprotectionist answer. We are really closely observing [its impact] in the market; it seem…

Lexus' new 2023 RZ 450e electric crossover will offer luxury EV shoppers a fresh alternative to Tesla's Model Y in an elegant and athletic package that starts just under $60,000 and can travel up to 220 miles on a single charge.

The compact crossover, which is on sale now, has distinctively Lexus exterior styling and carries forward the spindle grille, which the automaker calls the spindle body.

"Depending on whether it's a battery-electric vehicle, plug-in or hybrid, there will be different iterations of the design, but it will all be reminiscent of this spindle body approach versus just being stuck to the spindle grille," said Eli Nesbitt, a Lexus senior analyst and product expert.

The goal, Nesbitt said, is to maintain Lexus styling without intruding on aerodynamics. Because of the low roofline and a front fascia engineered for precise air intake, the RZ has a drag coefficient of .29 and is the most aerodynamic vehicle in Lexus' lineup, he said.

American Honda Motor Co. said it will recall 448,613 vehicles in the U.S. and more in Canada, Mexico, Panama and St. Marten over seat belt buckles that may not latch properly.

The recall covers the 2017-20 Honda CR-V, 2018-19 Accord, 2018-19 Accord Hybrid, 2018-20 Odyssey and 2019 Insight, and the 2019-20 Acura RDX.

A manufacturing issue with the front seat belts may prevent the buckle from latching. The surface coating on the channel for the buckle may deteriorate and lead to the belt release button shrinking at lower temperatures, documents show.

An unlatched seat belt will not properly restrain someone during a crash, increasing the risk of injury, according to NHTSA.

Honda observed a potential trend in seat belt latching errors in June 2019 and determined on March 2, 2023, it was a defect impacting safety, documents show. It had received 301 warranty claims related to the defect as of March 2. No injuries have been reported.

Dealers wil…

Lithia Motors Inc. is on the cusp of buying Jardine Motors Group in the United Kingdom, according to a Wednesday report from Sky News.

The news outlet said Lithia "hopes to announce the acquisition of Jardine as soon as Thursday."

Sky News, citing a source, reported the price to be around £300 million to £400 million ($361.6 million to $482.1 million).

Lithia didn't immediately respond to a request for comment on the report.

In January, Sky News reported Lithia was "within weeks of finalizing a deal to buy" Jardine Motors for around $371.4 million.

Jardine Motors, part of conglomerate Jardine Matheson Holdings, is Europe's 23rd-largest dealership group by annual revenue, according to Automotive News Europe's 2022 Guide to Europe's Biggest Dealers. It has 45 new-vehicle franchise points in the U.K. Jardine Motors' portfolio of 14 vehicle brands ranges from Mini and BMW to Ferrari, according to its website.

Lithia entered its first i…

Bisbee Importing and Metro Auto Importer, both in Michigan, have had their registered importer status revoked by NHTSA.

Investigations revealed "serious and systemic violations of federal safety requirements," NHTSA, the nation's top auto safety regulator, said in a statement Tuesday. The companies will no longer be able to legally import vehicles into the U.S.

Registered importers are businesses that have been approved "to import vehicles that were not originally manufactured to comply with applicable Federal Motor Vehicle Safety Standards (FMVSSs), and to perform the necessary modifications to bring the vehicles into conformance," according to NHTSA's website.

The companies were suspended after NHTSA determined they knowingly submitted false and misleading certifications of conformance for imported vehicles. Bisbee, of Davison, was suspended last May, and Metro Auto, of Clinton Township, was suspended a month earlier.

Subsequent investigation de…