Trade News

The shake-up across this year's Automotive News listing of the top 150 dealership groups in the U.S. is dramatic, and the reason is a buy-sell market among dealers so frothy it would look at home atop even the fanciest coffee beverages.

Whether it's the megadeals that dominated these pages over the last year or the acquisitions of standalone, family-owned stores, the trend toward industry consolidation is now both unmistakable and accelerating.

But it's worth pausing for a moment to consider why all of these dealerships are changing hands right now, and what those transactions say in a broader sense about the health of franchised automotive retail.

It's no surprise why long-established dealers would consider selling their stores: They see valuations higher than they've been in years and that, for some brands, would have been inconceivable just a few years ago.

The last two tumultuous years have also generated record profits, perhaps leaving some …

Vietnamese automaker VinFast is taking a page from technology startups in its approach to launching a line of electric vehicles in the U.S., beginning with two premium crossovers this year. That means big product promises, a breakneck timeline for mass production and the risk of failing fast.

The young automaker, which just delivered its first gasoline-powered vehicle in 2019, made its biggest commitment yet to the U.S. market last week with a preliminary agreement to build assembly and battery factories at a North Carolina industrial park. U.S. production is planned for mid-2024.

The factory plan comes after VinFast showed two electric prototypes at the Los Angeles Auto Show in November, followed by three more models at CES in January. Preorders for its Vietnam-made VF 8 and VF 9 crossovers began in January for delivery this year. VinFast is also expanding to Canada and Europe.

"The project in North Carolina affirms VinFast's commitment in investing an…

The U.S. industry is not short of buyers right now — just the inventory to satisfy them.

As factory problems on three continents continue to disappoint efforts to capture what analysts say is hot pent-up consumer demand, U.S. auto sales plunged 16 percent in the first quarter for the 11 automakers that reported last week.

"We have a huge incentive on our end to build and ship," David Christ, head of the Toyota Division at Toyota Motor North America, told Automotive News. "With the consumer demand where it is now, even if we started building cars at full capacity today, it's going to take us a little while to get through these back orders."

In announcing its sales results, Toyota thanked its customers "for their patience as we work around the clock to ensure their needs are satisfied."

Industry totals will not be available until all automakers report. Most companies released U.S. sales results for March and the first qua…

A teenage driver's twister trouble has resulted in a new Chevrolet Silverado.

When Riley Leon, 16, drove through a powerful tornado on his way home from a job interview last month, his red Silverado flipped multiple times before landing upright on the road and he drove to safety, according to media reports.

Leon was not severely injured, but the family pickup was in bad shape. The truck's windows were blown out, side mirrors were broken off and side panels were dented.

Videos of the pickup's rollover went viral. After Chevy and Bruce Lowrie Chevrolet, a dealership in Fort Worth, Texas, heard the story, they offered to donate a 2022 Silverado 1500 LT All Star Edition in Cherry Red to Leon and his family.

Leon and his parents picked up their new Silverado from Bruce Lowrie Chevrolet on March 26.

"We are thankful Riley is safe, commend his driving skills during a frightening situation and our hearts are with other families …

At a time when dealerships are relying more heavily on service departments to maintain profits amid inventory shortages, Ford Motor Co. is attempting to streamline warranty processes to repay claims faster and keep repair work flowing. Most of the changes deal with bureaucratic red tape that frustrated service techs and delayed jobs.

In one instance, Ford removed the requirement for a tech to get prior approval from the factory before starting work on a warranty claim. Another change loosens rules on holding faulty parts that Ford could recall for examination, which took up shelf space and required techs to fill out time-consuming paperwork when Ford requested the part back.

"When you looked at the bureaucracy and complexity of what we were doing, it was kind of like a dog chasing its tail," David Abatsis, owner of Acton Ford in Massachusetts, told Automotive News. "The goal on Ford's part has been to keep a wrench in a technician's hand more …

There's a giant whiteboard on the wall in a Michigan office building where the problems of the world are listed and tracked in minute detail.

The colorful papers hanging there — tracking earthquakes and tsunamis, fires and floods, coronavirus hot spots and even wars — aren't just the world's problems, though.

They're Bob Young's problems, today and every day.

Young, the group vice president of purchasing supplier development for Toyota Motor North America, and his team in the town of Saline are charged with keeping the region's assembly and components plants running as much as possible. And for more than two years now, through COVID-19, a string of natural disasters, civil strife, labor shortages and now a war between Russia and Ukraine, Young's job has been challenging.

"Normally, our world is some level of controlled chaos, but the last few years, it's been a little more chaotic than what we're used to," Young said las…

Tesla Inc. delivered a record 310,048 cars worldwide in what Elon Musk said was an “exceptionally difficult" first quarter, as a growing tide of consumers made the switch to EVs.

The results, posted Saturday, slightly edged out expectations. Analysts had expected that 309,158 vehicles would be shipped, based on the average of estimates compiled by Bloomberg.

Fluctuations in Covid-19 infection rates and rules worldwide continue to impact logistics and supply chains. The automaker also temporarily suspended production at its Shanghai factory beginning last month after the city enacted a lockdown over its worsening coronavirus outbreak. 

Tesla’s deliveries were “better than feared” given the supply chain issues, Wedbush analysts led by Dan Ives wrote in a note.

“We believe roughly 20k-25k units were pushed out of 1Q into 2Q due to the logistical and factory issues which makes this underlying demand number still look strong with a robust trajec…

Organizers of the Beijing auto show, scheduled to be held in late April, said on Saturday they are postponing the event until further notice due to the COVID-19 resurgence across the country.

"We will pay close attention to the development of the epidemic, and strive to enhance the event's organisation and service work according to the requirements of the epidemic prevention and control policy," Secretariat of Auto China said in a post on its official WeChat account.

A week ago the organizers said they "expected" to postpone the show.

"The specific holding time after the extension will be notified separately," organizers said Saturday.

In March, Automotive News and later, Reuters, reported the postponement, citing sources.