Trade News

General Motors on Thursday said its electric vehicles would be "solidly profitable" by 2025, when it expects to be building 1 million of them a year in North America and 1.2 million battery cells daily in the U.S.

GM CFO Paul Jacobson told reporters ahead of the company's investor day in New York that the automaker will maintain North American profit margins of 8 to 10 percent in the coming years and that EV margins will nearly match those of internal combustion vehicles with the benefit of additional scale and forthcoming federal tax credits.

The company is projecting low- to mid-single-digit margins on EVs in 2025, including emissions credits and software and aftersales revenue. GM expects to generate more than $50 billion in revenue from EVs and $225 billion in total revenue in 2025. Its global revenue last year was $127 billion.

"This is really just the start for us," Jacobson said. "And when you think about the EV tax credits on top of it — we will…

LOS ANGELES — Kia revealed the freshened 2024 Seltos subcompact crossover Thursday at the Los Angeles Auto Show, with sharper styling, a new X-Line trim and more power from its turbo engine.

The Seltos, the brand's entry point, joins the ranks of its larger siblings — the Sorento and Telluride — in offering the more rugged-looking X-Line trim.

Its reworked front fascia features a larger tiger nose grille and new bumper design that creates a wider appearance. New vertical fog lights are incorporated into the daytime running lights, which reduces clutter and gives the small crossover a more commanding presence.

The restyled rear is cleaner, with a new tailgate lighting design and new backup lamps and rear reflector on the bumper.

The ruggedness of the X-Line is enhanced by 18-inch wheels, black roof rails and gloss black door trim.

For 2024, the vehicle is offered in LX, S, X-Line, EX and SX trims. The X-Lin…

LOS ANGELES — The Toyota Prius is a nerd mobile no more.

In the quarter century since the pioneering gasoline-electric fuel sipper was born, it has gone from a frumpy, dumpy subcompact sedan to a weird origami-styled hatchback with bizarre zigzag taillights.

The 2004-10 second-generation car, a nicely proportioned hatchback with a smoothly integrated front end, almost turned the corner onto Hip Street, but for a leisurely 11-second 0-to-60 mph run.

The fifth-generation car that debuted here at the Los Angeles Auto Show is a different animal. For one thing, it's now a slick five-door hatchback that looks very much like a sedan. For another, it's faster. Toyota engineers found a way to dramatically increase performance without sacrificing fuel economy. The new car, which arrives in January, will have an estimated 57 mpg combined city-highway fuel economy, and the top model can hit 60 mph in 6.7 seconds.

The styling of the new car is bound to be no…

LOS ANGELES — The X Convertible, the third in a trio of Genesis concepts, previews some key styling cues that will adorn the luxury automaker's electric vehicles.

It was unwrapped late Tuesday against the backdrop of a spectacular West Coast sunset in Malibu, Calif., ahead of the Los Angeles Auto Show.

The sleek open-roof, four-door concept follows the Genesis X Concept two-door grand tourer and Genesis X Speedium Coupe, which showcased a new, lighted version of the crest grille and what the brand calls its "athletic elegance" design language.

The new grille, also featured on the X Convertible, is a cleaner take on the mesh design found across Genesis' lineup. A spokesperson for the brand said it serves as a blueprint for the front-end designs that will be featured on future Genesis EVs.

Some of the concept's styling cues can already be found on Genesis models. The horizontal quad rear lights closely resemble the tail…

The automotive marketplace continues on a roller coaster-like ride. Macro-economic conditions are slowing demand and moderating prices at the same time as production and inventory levels are rebounding off their pandemic-related lows. Many dealers are facing the future with inexperienced sales teams. Yet dealerships can employ a more effective sales strategy to overcome these challenges…and thrive. With defection data that’s specific, timely and deep. Here are four ways dealers can use data and technology to gain a competitive advantage. Take a better approach to handling defections. Give your salespeople the tools and processes to be successful. Bolster the confidence of your salespeople. Carefully craft what you say…because now, more than ever, the message to your customers matters.

Selling cars in the current marketplace is hard; we all know that. But what you might not know is that accessory selling is the key to drive up those dwindling profit margins and drive down customer price points in this high-interest rate environment. Read on to find out how we can help you add value and profit to your automotive sales, all while putting some very happy and loyal customers on the road in the car or truck they’ve been searching for.

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Did you know? Amazon’s automotive audience includes over 632,000 electric vehicles owners who have registered their electric vehicle to Your Garage, Amazon’s exclusive source for 1P vehicle ownership audiences and insights.1 And since 2017, the number of EVs in Your Garage has grown by ~20x.2 Amazon can help you reach this audience alongside the Amazon users who are actively researching cars for future purchases.

1 Amazon internal, US only,…

Porsche is pitching its new 911 Dakar as a sports car aimed at the SUV set.

The rally-inspired Dakar features a jacked-up suspension, all-terrain tires and an antilock braking system optimized for loose gravel.

Porsche unveiled the two-door off-roader on the eve of the Los Angeles Auto Show. The 911 Dakar is limited to 2,500 units globally and starts at $223,450, including shipping, in the U.S. starting next Spring.

The Dakar's appeal extends beyond the shriveled pool of two-door sports car buyers. Its racy performance and utility ride speak to both the on-track and off-road demographic.

"When drivers are looking for crossovers and sport-utilities, appealing to these buyers means going to where they are," said Sam Fiorani, vice president at AutoForecast Solutions.

What the 911 Dakar lacks in volume, it makes up in buzz.

"It's a showpiece that allows engineers to go to town and show what they can do," said Ryan Kirchner, new-car mana…

LOS ANGELES — After a stumble out of the gates with its first-in-a-series 2023 bZ4X, Toyota is introducing a smaller concept with a similar shape likely to one day slide beneath the back-on-sale bZ4X in an expanded battery-electric lineup for the Japanese automaker.

The Toyota bZ Compact SUV Concept shown late Wednesday before the start of the Los Angeles Auto Show is roughly comparable in size to the Toyota Corolla Cross subcompact crossover, smaller than the RAV4-sized bZ4X. An earlier version of the concept was one of 16 EVs displayed behind Toyota CEO Akio Toyoda late last year when he laid out the automaker's battery-electric future. If a production version comes to the U.S., it would likely be sold as the bZ3X.

"We've only just begun to scratch the surface of the Beyond Zero moniker," Toyota brand head David Christ said in a statement. "With an aerodynamic design coupled with intuitive tech features never before seen in a Toyota model, the bZ Concept sh…

TOKYO — Toyota Motor Corp. Chairman Takeshi Uchiyamada has a closer connection than most to the Prius.

Twenty-five years ago, Uchiyamada was chief engineer of the first generation of the stubby car that stunned the industry in 1997 as the world's first mass-produced gasoline-electric hybrid.

In doing so, he helped Toyota leapfrog into an era of better fuel efficiency and helped pave the way for the full-electric vehicles that are currently wowing the market.

But even now, as the Prius turns 25 with a redesigned fifth generation, Uchiyamada has his hand in the nameplate's development. And in an interview with Automotive News this month, he said he expected the flagship hybrid to be around for many more overhauls, even in the EV age.

Uchiyamada, now 76, was charged in the mid-1990s with developing a car for the 21st century. The road to what eventually became the Prius, however, was filled with potholes.

When his team assembled the first pro…

Redwood Materials will provide cathode material, a key component of the lithium ion batteries that power electric vehicles, for a giant factory Panasonic Energy Co. is building in Kansas.

The deal represents the first time the material will be made at gigafactory scale in the U.S.

Redwood Materials said it plans to produce 100 gigawatt-hours of cathode for 1 million EVs from recycled battery cell material by 2025 at its $3.5 billion battery materials factory under construction near Reno, Nev. The plant is near Redwood's headquarters in Carson City, Nev.

Panasonic will use Redwood's cathode material for battery cell production at a $4 billion lithium ion battery factory it is starting to build in De Soto, Kan. The factory is expected to open in 2025 and create up to 4,000 jobs, Panasonic said this month.

With the agreement, Redwood also hopes to make a sustainable closed-loop supply chain for producing cathode material and batteries in the U.S. In …

Two women were awarded $1.8 million Friday after claiming they faced discrimination while working at Mercedes-Benz of St. Louis, a dealership in St. Louis.

Denise Ligon and Dorothy Robinson were salespeople at the dealership, and said they worked in an unfair work environment that benefited male employees. Ligon began working at the dealership in 2000, and Robinson in 2015, court documents said.

Claims from the two women include sexist remarks, being held back from sales and being required to unfairly split commissions with male employees.

Robinson, who is Black, argued that in addition to sexism, she experienced racism after the company passed her over for promotion in favor of a white man.

Tri-Star Imports Inc., the owner of Mercedes-Benz of St. Louis, denied the allegations in court documents and said the women didn't take advantage of the "preventive or corrective opportunities provided by Tri-Star to avoid harm."

The women reported the…