Trade News

General Motors says it will generate more revenue from electric vehicles in 2025 than crosstown rival Ford Motor Co. brought in from its F-Series pickup line last year.

More importantly, those EVs will be "solidly profitable" by then, GM says, with margins nearly matching those of its internal combustion vehicles. And it plans to build a lot of EVs — 1 million a year at five North American assembly plants, a pace that will require at least three U.S. battery plants to build a total of 1.2 million cells a day.

GM is projecting low- to mid-single-digit margins on EVs by mid-decade, when emissions credits and software and aftersales revenue are included. It expects to generate more than $50 billion in revenue from EVs and $225 billion in total revenue in 2025.

That compares with global revenue of $127 billion for GM in 2021. Ford has said it generated nearly $40 billion from selling about 850,000 F-Series in North America last year.<…

North American factories were forced to eliminate another 79,000 vehicles from their production plans this week because of ongoing shortages of microchips, according to AutoForecast Solutions.

As the industry nears the end of a second full year of the shortages worldwide, automakers still face more schedule changes to deal with the problem.

According to AFS’ latest forecast, microchip shortages will have knocked 4.4 million vehicles out of global production plans by the end of  2022. That is nearly 400,000 more vehicles than already have been eliminated this year — and with barely a month left in the 2022 calendar.

AFS indicates that China’s auto factories have been relatively spared from the chip crisis this year.

Source: AutoForecast Solutions Inc. autoforecastsolutions.com

Hyundai Motor Co. is showing its EV prowess at the Los Angeles Auto Show this week with the debuts of the Hyundai Ioniq 6 sedan and Genesis X Convertible concept, but the automaker's rapid U.S. growth is also driven by transitional vehicles such as hybrids, said Jose Muñoz, the automaker's global COO.

Hyundai Motor Group, including Kia, is the No. 2 electric vehicle seller in the U.S. behind Tesla, but it's also rapidly growing market share and delivering record profit to dealers by providing a wide range of future-forward vehicles, Muñoz said.

"We at Hyundai thought about how we navigate the transition," Muñoz said Friday at the Automotive News Congress in Los Angeles. "Based on the information we get from our customers, not all are ready to transition to an EV in just one shot."

In addition to his global role, Muñoz is CEO of Hyundai and Genesis Motor North America.

"We decided to invest in hybrid, hybrid plug-in and electric at the same time,"…

Buick's next electric vehicle to be sold in China will be a crossover.

The Chinese Ministry of Industry and Information Technology published photos of the Buick Electra E5 online this week as part of a public comment period. The Electra E5 will be produced and marketed in China by General Motors' joint venture with Chinese automaker SAIC, according to reports.

The five-seat crossover is 192.6 inches long, 75 inches wide and about 66.2 inches tall, with a 116.3-inch wheelbase, according to reports. In June, Buick unveiled the Electra-X SUV concept in China, noting at the time that future production vehicles in the country would carry some of the concept's design features.

"It is common practice in China to submit potential future vehicles to governing bodies for awareness," a Buick spokesman told Automotive News in a statement. "Following the debut of the Electra-X concept SUV in June, the Electra E5 will be the first Ultium-based …

Top executives in automotive, mobility venture capital and energy focused on emerging business models, startups and innovation at the Automotive News L.A. Congress Nov. 18.

Automotive News Publisher KC Crain welcomes one of the keynote speakers, Lucid Motors CEO Peter Rawlinson.

Executive Editor Jamie Butters moderates a panel on venture capital partnerships with Angel Gambino, principal, startups at Amazon Web Services and Quin Garcia, managing director of Autotech Ventures.

Jose Muñoz, global president and COO of Hyundai Motor Co., talks about the automaker's innovation, dealer network, and products.

Automotive News Publisher KC Crain inteviews Lucid Motors CEO Peter Rawlinson.

Automotive News' Jerry Hirsch, news editor for mobility, moderates a panel on new business models and autonomous trucking with Sam Abidi, chief commercial officer of Embark; Henrik Holland, senior vice President and global head of mobility …

WASHINGTON — The Motor & Equipment Manufacturers Association said it is condensing its business structure under the MEMA umbrella and representing suppliers with two groups: MEMA Aftermarket Suppliers Group and MEMA Original Equipment Suppliers Group.

MEMA, which represents original equipment and aftermarket automotive parts suppliers in the U.S., said Friday the new brand and organizational structure will launch in January.

"Today, rapid changes are impacting our industry, and we must be more adaptive and agile to respond," MEMA CEO Bill Long said in a statement. "These industry challenges are not unique to one market segment but affect the entire membership. We must position MEMA for the future in a way that supports our vision of a growing, profitable and influential supplier community."

Over the years, MEMA expanded into four divisions: the Automotive Aftermarket Suppliers Association, Heavy Duty Manufacturers Association, Association for Sustain…

Lucid Group's first vehicle, the Air sedan, has broken records for EV range and efficiency and that's by design, said CEO Peter Rawlinson on Friday at the Automotive News Congress in Los Angeles.

Extracting more miles per battery pack will allow the California-based startup to produce more affordable vehicles in the near future and share its technology advantage with other automakers, Rawlinson said.

"Lucid's mission is not just to do EVs and jump on this EV bandwagon," said Rawlinson, who was chief engineer for the Tesla Model S a decade ago.

"Our mission is to advance the state of the art of the possible of the EV," he said in a question-and-answer session with Automotive News Publisher KC Crain.

"We've done that with ultrahigh-voltage, 920-volt architecture; faster charging, 300 miles in 21 minutes; the longest range, 520 miles; the most space in the interior for the exterior [size]; the largest frunk in the world [for a sedan]," Rawlinson sai…

A general manager and a family running a used-car store each bought their first new-vehicle dealerships while two regional auto retailers continued expansions in separate third-quarter transactions.

Here's a look at the deals involving domestic, import and luxury dealerships in Vermont, New York and Pennsylvania.

General manager buys first store, dealership group expands in Vermont

A general manager said he achieved his "American dream" and a company nearly doubled its franchised dealership count when retiring Stephan Maeder of Rutland Auto Group, formerly known as Kinney Motors, sold his three Rutland, Vt., stores to two buyers Sept. 29.

Maeder, in one transaction, sold Audi Rutland/Rutland Volkswagen and Rutland Dodge-Ram to brothers Barry and Patrick Lundgren of Lundgren Automotive Group, a family-owned business in Auburn, Mass. Rutland is east of the New York state line.

The Audi-Volkswagen store kept its name, while the Stellantis sto…

Mercedes-Benz and auto supplier Robert Bosch agreed to pay about $6 million to resolve Arizona's lawsuit over diesel advertising claims, the state said on Friday.

Under the proposed settlement, Mercedes will pay $2.8 million in consumer restitution, and each qualifying Arizona consumer will receive up to $625 per vehicle, Arizona Attorney General Mark Brnovich said. The German automaker will pay $2.7 million in penalties, and Bosch will pay $525,000 in penalties, the state said.

"Arizona demands truth in advertising to assist consumers in making the most informed decisions for themselves," Brnovich said.

Mercedes denied the allegations and made no admissions but said "with the settlement, the company takes another step toward resolution of various diesel proceedings... and avoids further costs of litigation and lengthy court actions."

In 2020, the German automaker agreed to pay $2.2 billion to resolve a U.S. government diesel emissions cheating in…

Photos of a next-generation Lincoln Nautilus for China appear to have leaked ahead of the crossover's debut there.

Images posted by the Chinese Ministry of Industry and Information show the exterior of the crossover with new styling that more closely mirrors the China-only Zephyr sedan, according to the website Ford Authority. Most notably, the Nautilus features a chrome strip across the grille, a similar design cue found on the Zephyr.

The vehicle is also expected to be slightly longer, wider and taller than the current version, according to Ford Authority, which cites specs posted by the Ministry of Industry and Information. The specs say the vehicle will feature a 2.0-liter I4 EcoBoost engine, while Ford Authority also says it's expected to include a hybrid variant.

A Lincoln spokeswoman declined to comment on the report.

"The Lincoln Nautilus plays an important role in Lincoln's global portfolio, but we are not going to speculate on future p…