Trade News

ONTARIO, Calif. — Peter Voorhoeve remembers talking at a conference in Singapore five years ago about the potential self-driving trucks held for the freight industry and wondering if any of it would come true during his career or even lifetime.

Now head of Volvo Trucks North America, Voorhoeve, 57, is part of the global leadership team helping to guide the company through rapid technology advancements. Volvo has grabbed an early U.S. lead in heavy-duty electric trucks with 56 registrations for its Class 8 VNR Electric tractor. It has sales agreements that add up to 330 more VNR Electrics in addition to the vehicles in operation.

And it is pushing into autonomous trucking. With Aurora Innovation as the driving system supplier, Volvo has an initial deal to begin hauling freight with its Class 8 VNL autonomous truck prototype for DHL in Texas. For now, a safety driver will be in the cab. At some point, Volvo and Aurora plan to pull the human monitor and gain the …

Nissan Motor Co. will ax the Rogue Sport crossover as it focuses on higher-volume models and revamps its lineup for an electric future.

Production of the Rogue Sport will end in December, Nissan told dealers in a memo obtained by Automotive News.

"With the all-new Rogue and recently redesigned Kicks, we will continue to cover this part of [the] market effectively," Nissan Vice President Scott Shirley noted in the memo.

Dropping the Rogue Sport allows Nissan to shift production to higher-demand models such as Rogue, Kicks and Pathfinder.

"We are also able to invest more resources in our current vehicle lifecycles and next-generation products," Shirley noted.

Rogue Sport sales will continue into early 2023, as inventory is available and Nissan will provide parts support through 2033.

The Rogue Sport, sold as the Qashqai outside the United States, shares a platform with Rogue compact crossover. It is slightly smaller, with a different …

General Motors' is idling production at two plants next week: The main plant in Mexico that makes GMC and Chevrolet pick-up trucks as well as the Corvette plant in Bowling Green, Kentucky. Both plants are halting production over supply chain and parts issues, the company said Friday.

The U.S. carmaker will suspend work beginning Aug. 29 and aims to restart Sept. 5, it added.

Production at GM's other three full-size truck plants in North America is not impacted. The automaker's Flint, Michigan, truck assembly plant will be operating extra shifts this weekend.

"General Motors is working actively with its base of suppliers to resolve issues as they arise to meet customer demand," GM said in a statement.

It added that North America production has been "relatively stable" since the third quarter of last year, but supply chain interruptions have continued.

DETROIT — The six generations of Mustangs introduced over the past six decades have often reflected Ford Motor Co.'s priorities and ambitions at the time.

The first pony car, for example, was aimed at attracting the coming wave of postwar baby boomers who wanted something more hip and exciting than their parents' sedans. The Mustang II was a smaller, fortuitously timed answer to the oil crisis of the 1970s. The current generation was the first to go global as Ford strove to be more competitive and profitable in overseas markets such as Europe and China.

The seventh-generation Mustang, debuting within weeks, is a product of a company that's reinventing itself. Ford is slashing jobs and reorganizing its work force to prioritize electric vehicles, which account for less than 3 percent of its U.S. sales so far this year.

That mix is beginning to shift quickly, though, and Ford is rushing to get ahead of the curve. Since April 1, it has reported selling 286…

A dashboard showdown is brewing between Apple CarPlay and automakers. Porsche puts a big dollar sign on its upcoming IPO. Warren Buffett is bullish on driverless trucks. Plus, the co-hosts of Service Drive Live talk about why so many in the service and parts industry think the Customer Satisfaction Index (CSI) needs to be changed or eliminated.

How do I subscribe?

Can't wait to hear the next episode of "Daily Drive"? Subscribe through a podcast app to receive episodes days in advance. If you don't have a podcast app already, here are some options. 

iPhone / iPad

“Daily Drive” is available on the iTunes Store and through the ‘Podcast’ app pre-installed on all iOS devices. Click here to subscribe to "Daily Drive"

Android

“Daily Drive” is available on the Google Play store. Click here to subscribe to "Daily Drive"

Spotify

"Daily Drive" is available on Spotify. Click here to subscribe…

WASHINGTON -- President Joe Biden on Thursday signed an executive order on implementation of the $52.7 billion semiconductor chips manufacturing subsidy and research law, the White House said.

Earlier this month, Biden signed the bill to boost efforts to make the United States more competitive with China's science and technology efforts. By subsidizing U.S. chip manufacturing and expanding research funding, the law aims to alleviate a persistent shortage that has affected everything from cars and weapons to washing machines and video games.

The "Chips and Science" law also includes an investment tax credit for chip plants estimated to be worth $24 billion.

The White House said the Commerce Department launched CHIPS.gov. The department will make funding awards for chips production.

Commerce Secretary Gina Raimondo said the department has been preparing for months for the program.

"We are committed to a process that is transparent and fair,…

Porsche has lined up investor interest for its initial public offering at a valuation of as much as $85 billion, signaling one of Europe’s biggest-ever listings is poised to go ahead despite market headwinds, according to people familiar with the matter.

Volkswagen Group’s sports-car brand has secured pre-orders that exceed the shares on offer at a valuation between 60 billion and 85 billion euros ($85 billion), said the people, who asked not to be identified because discussions are private.

Porsche plans to announce its intention to float in Frankfurt in the first week of September after a supervisory board sign-off, barring unexpected market shocks, they said.

Big-name investors including T Rowe Price Group and Qatar Investment Authority have already indicated interest in subscribing to the IPO in that valuation range, the people said.

Porsche has also been gauging interest from billionaires including the founder of energy drink maker Red Bull,…

Warren Buffett’s Berkshire Hathaway Inc. didn’t gain fame for investing in startups.

The venerated investor has a predilection for buying time-tested businesses like an oil company, a railroad or an insurer that are bets on the steady and profitable growth of the U.S. economy.

Buffett shied away from technology stocks for years before taking the plunge with Apple Inc., which was already woven just as deeply in the fabric of the economy as Occidental Petroleum Corp., BNSF Railway Co. or Geico. It came as no surprise that Buffett eschewed the SPAC and NFT crazes. His longtime business partner, Charlie Munger, in February railed against the “wretched excess” in both venture capital and cryptocurrencies.  

This is why investors should take particular note that Pilot Co., which operates Pilot and Flying J travel centers and is owned by Berkshire Hathaway, agreed on Tuesday to take a stake in Kodiak Robotics Inc., a driverless truck startup.

Pilot…

Four dealership groups expanded their holdings with third-quarter and second-quarter transactions of single stores.

Here's a look at the deals involving domestic and import dealerships and stores in Delaware, Kansas, California and West Virginia. One transaction involved an auto retailer ranked on Automotive News' top 150 dealership groups list.

Preston Automotive buys in Delaware again

Preston Automotive Group, which expanded its Delaware presence earlier this year with a Stellantis store acquisition, bought another Stellantis dealership in the small Mid-Atlantic state.

Preston Automotive, of Preston, Md., on Aug. 18 bought Holden Dodge-Chrysler-Jeep-Ram in Dover, Del., the capital city, south of Wilmington, from husband and wife Bill Holden Sr. and Carolie Holden, and their son Bill Holden Jr., according to Robert Childs, Preston Automotive's chief marketing officer.

The store was renamed Preston Chrysler-Dodge-Jeep-Ram of Dover.

…

Automakers are caught in a conundrum of whether to quickly adopt new technologies that risk increased complaints from car buyers when they don't work as expected, according to a J.D. Power study.

Consumers routinely punish automakers in quality ratings for car technology not meeting expectations. But consumers will credit automakers when innovations are properly executed, J.D. Power said.

Based on the results of its annual U.S. Tech Experience Index Study released Thursday, J.D. Power said ease of use is crucial for the acceptance and adoption of new automotive technologies. The survey also found auto dealers play a key role in ensuring car buyers understand and use the latest innovations.

Fear of negative consumer reaction

Automakers have to be careful and should not let fear of negative consumer reactions slow innovation adoption because that would put them at a competitive disadvantage, J.D. Power said. The idea that advanced technologies alw…

Audi will join Formula 1 starting in 2026 as the Volkswagen Group brand bets it can bolster its business by competing in the popular racing circuit.

Audi will build a dedicated F1 powertrain at a facility in Neuburg, Germany, the brand said Friday in a statement. It will make a decision on which team to partner with by the end of the year.

Audi has been in talks with the Swiss-based Sauber Group, whose team competes under the Alfa Romeo name, according to reports by Reuters and other media.

F1 racing intends to switch to cars running on synthetic fuel from 2026 as part of a plan to become carbon neutral by the end of the decade.

The change in technology is a unique opportunity to start competing in the franchise that has been dominated by Mercedes.

The new rules from 2026 will bring greater electrification and the use of advanced sustainable fuel. Power unit manufacturers will also be subject to a cost cap from next season.

“Motors…

Mercedes flips the switch on EV production in Alabama. California moves closer to banning gasoline-powered vehicle sales. Ford hikes the price of the Mustang Mach-E. Plus, a conversation with the incoming CEO of the Center for Automotive Research in Ann Arbor, Alan Amici.

How do I subscribe?

Can't wait to hear the next episode of "Daily Drive"? Subscribe through a podcast app to receive episodes days in advance. If you don't have a podcast app already, here are some options. 

iPhone / iPad

“Daily Drive” is available on the iTunes Store and through the ‘Podcast’ app pre-installed on all iOS devices. Click here to subscribe to "Daily Drive"

Android

“Daily Drive” is available on the Google Play store. Click here to subscribe to "Daily Drive"

Spotify

"Daily Drive" is available on Spotify. Click here to subscribe to "Daily Drive"