Trade News

The new Lotus Emeya is “one of the fastest electric GT cars in the world,” the automaker said during its unveiling Thursday.

The large sedan is the second full-electric Lotus after the Eletre SUV to be launched as part of its so-called Lifestyle range. The sedan will build the car alongside the Eletre at parent Geely's factory in Wuhan, China.

Lotus describes the Emeya as its flagship car, saying it will sit above Eletre.

Lotus said the top-of-the-line, 905-hp Emeya with dual electric motors will accelerate from 0 to 100 kph (62mph) in 2.8 seconds. The performance matches the Porsche Taycan Turbo S. It also puts the Emeya close to the Tesla Model S Plaid, which the U.S. EV maker claims can reach that speed in 2 seconds.

Lotus unveiled the car in New York at an event that will include a public showcase starting on Saturday.

The car carries over the same design language as the Eletre, with an aggressive sports-car inspired front end incorpor…

Off Lease Only, a used vehicle-only dealership group with operations in Florida and Texas, filed Thursday for Chapter 11 bankruptcy protection.

In a news release, the company said "significant challenges and competitive pressures resulting from unprecedented changes" to the automotive retail landscape during the last few years necessitated a wind-down of its operations.

Before the filing, Off Lease Only listed five dealership locations in Florida and one sister dealership, CarSquad, in Katy, Texas. The company terminated all 545 employees "immediately prior" to Thursday, according to a court filing. The websites of Off Lease Only and CarSquad displayed "closed to the public" notices Thursday.

"The industry has been impacted by inventory scarcity, and vehicle price inflation stemming from supply chain disruptions and multi-year declines in new vehicle production," the company said in the news release. "Elevated pricing and rising interest rates have furth…

MUNICH — Automakers are racing to expand and reconfigure their global factory footprint as the industry pivots from fossil fuel to battery power.

Electric vehicle juggernaut Tesla erected three gigafactories across three continents in about three years.

The mission to add capacity is vital because carmakers cannot sell what they don't have. The question is: Can it be done faster?

BMW Group now plans to slash the time it takes to build a new factory by 30 to 40 percent, the automaker's production boss Milan Nedeljkovic told Automotive News ahead of this month's Munich auto show.

Depending on the country, he said, the preliminary work of planning a new assembly plant can take 12 to 24 months, and the actual construction adds another year or two.

Nedeljkovic said of the whole plant construction process: "If we can reduce [the planning portion of a project] from 24 to 12 [months], you're talking of three years down to two."

As BMW maps…

There's perhaps no better proof that crossovers are king in today's auto market.

Toyota Motor Corp. just updated its top-of-the-line Century luxury limousine.

But instead of keeping the staid four-door layout that has been the Century sedan's hallmark since 1967, Toyota rebooted the storied nameplate as a sleek, high-riding, SUV-styled limo.

Revamps are rare for the made-in-Japan, ultra-low-volume Century. In 2018, it underwent its first redesign in a whopping 21 years. That update dumped the silky smooth 5.0-liter V-12 engine on the outgoing model for a 5.0-liter V-8 mated to the Japanese brand's trademark hybrid setup.

Apparently, Chairman Akio Toyoda thought the Century couldn't wait another two decades to stay in step with the times. Hence, the Wednesday unveiling of the crossover version in Tokyo.

"He knew that Century had to change," said Toyota Chief Branding Officer Simon Humphries. "New generations are leading new industries, with…

Changes in the dealership buy/sell landscape are ever evolving. The economy, dealership performance, geographical differences, and new bills, laws and regulations all factor into the equation. Many dealers today describe the path for future growth as “harder” based on three critical areas: 1) competition from non-traditional dealers; 2) electric vehicles; and 3) digital retailing.

5 Key Takeaways:This article delves into the inescapable factors to consider when deciding whether to buy or sell, including:

How to determine true dealership value Why bigger isn’t always better The importance of properly assessing the competitive landscape Provide guidance for dealership groups and M&A firms regarding the kind of partners they should look for in their decision-making process How those who rely on data – not gut instinct – result in the most successful buy/sell acquisition strategies

As automakers showcase the latest electric models at the North American International Auto Show in Detroit, suppliers, engineers, technology companies and policymakers will be 30 miles away at The Battery Show in Novi, Mich., discussing plans to underpin those vehicles.

"It has to be one of the most important trade shows out there at the moment if all of the OEMs [are] serious about their route towards electrification," Martin French, managing director at German auto industry consultancy Berylls Strategy Advisors, told Automotive News. "Without the batteries and infrastructure, it's hard to have a discussion about the consumer, the product and what that market is going to look like in five to six years."

The Battery Show, at Suburban Collection Showplace, focuses on EV batteries and components, their supply chain, battery recycling, EV charging and more. Speakers will also discuss battery plant timelines, siting issues, regulations and other factors and how th…

The founders of the former self-driving unit of Ford Motor Co. and Volkswagen AG are launching a new autonomous trucking startup with backing said to be more than $1 billion from Japan’s SoftBank Group Corp.

The new firm, named Stack AV, is led by Bryan Salesky, Pete Rander and Brett Browning, who previously ran Argo AI, the self-driving operation that Ford and VW shut down last year. Based in Pittsburgh, also home to Argo, Stack AV has hired 150 people and already has a test fleet of trucks on the road, Salesky said in an interview.

While Salesky and SoftBank declined to detail the investment in Stack, Matt Smith, an economic development official in Pittsburgh, said he expects the commitment to be “north of $1 billion,” adding to a growing tech corridor in the city known as Robotics Row.

The Stack AV founders connected with SoftBank early this year and Salesky said the Japanese investment tech conglomerate, which says it manages more than $160 billion …

TEL AVIV, Israel — Amnon Shashua, the CEO of automated-driving technology developer Mobileye Global Inc., wants to change the conversation around automated driving.

Shashua told Automotive News the number-based nomenclature the auto industry relies on to confer automation capabilities must be more straightforward and adequately convey the division of responsibilities between human and robotic drivers.

"You either have eyes-on or eyes-off," he said. "With eyes-on, you are responsible. With eyes-off, you are not responsible."

As automated-driving technology has developed over the past decade, the auto industry has relied on what is known as the SAE Levels of Driving Automation.

Developed by the automotive engineering trade group, the taxonomy is numbered from zero to five to demarcate the gradations of automated driving. The range starts at zero — where the driver operates the vehicle manually — to five — where the car is self-piloted, regardless …

The Appellate Court of Connecticut has declined to reinstate a gender and pregnancy discrimination suit by a service adviser who was fired by a Simsbury dealership for insubordination and creating a hostile work environment.

In its decision, the court said, "Although she had strong sales numbers and was a good salesperson in many respects, throughout her tenure (with Hoffman Honda) she demonstrated what colleagues and customers described as a 'poor attitude' and rudeness." It cited her six written warnings and three-day suspension for "substandard work, conduct, attitude and carelessness" after customers complained.

Hoffman Honda hired Janetta Marrero in 2010 and fired her in 2018 after multiple warnings about her rudeness and poor attitude, according to the decision, which noted the store's lengthy paper trail documenting her behavior.

Dealership attorney Carolyn Trotta of Hartford, Conn., said: "Hoffman Auto Group's meticulous appr…

TEL AVIV, Israel — The autonomous vehicle landscape is littered with failures as companies find they can't raise the capital to get the technology across the finish line.

Those likely to succeed, namely Waymo (the Alphabet subsidiary) and Cruise (the General Motors subsidiary), have deep-pocketed corporate parents and additional blue-chip investors.

Analysts expect Mobileye Global Inc. to join them as an industry survivor by supplying automakers rather than operating robotaxis.

As a division of Intel Corp., the Santa Clara, Calif., chip giant, Mobileye grew without the spotlight that shined on other autonomous technology developers, said Michael Ramsey, automotive and smart mobility analyst at Gartner Inc.

But since its October spinoff as a public company, "it has become clear that they have the technical expertise and the commercial relationships to become the supersupplier for autonomous equipment," Ramsey said.

Others agree. Consulting…

Between ongoing talent shortages, inflation concerns and vehicle affordability worries, operating a dealership has arguably never been more challenging — and it doesn't seem to be getting any easier anytime soon.

Although dealers have made record profits in the last couple of years, getting back to the brass tacks of controlling expenses and maximizing profitability is a must in our current market. One strategy that dealers may overlook but that can be a significant revenue stream is labor and parts warranty reimbursement at retail.

Our internal research reveals the average dealer can add $100,000 to $200,000 in annual gross profit when reimbursed at its client repair rate for warranty repairs. Why isn't every dealer jumping on this bandwagon? That's where things get complicated.

Nearly all states have legislation entitling dealers to be reimbursed at retail, but state statutes often are couched in the kind of legalese that make t…

MUNICH — The move toward electrified mobility is a way for Germany and China to expand relations, BMW CEO Oliver Zipse said.

Meanwhile, his counterpart at Mercedes-Benz, Ola Kallenius, said tariffs and trade barriers with China are not the way forward.

"We should uphold free trade," he said, while also echoing what Zipse said regarding BMW's desire to see Germany and China create a deeper relationship.

Both CEOs took part in the Chinese-operated World New Energy Vehicle Congress here on Wednesday.

China's electric mobility trade show was held in conjunction with the IAA Mobility show in Munich. It was the first time the WNEVC has taken place outside of China.

Volkswagen Group CEO Oliver Blume, whose namesake brand this year is likely to lose the No. 1 sales title to BYD in China, said the German giant wants to be in China's top three for overall volume. He also wants VW to remain the top-sellering international brand in the world's lar…