Trade News

Don't expect Toyota dealers to take a victory lap or for the brand to ease up after the Japanese automaker wrested the U.S. sales crown from General Motors in 2021 after a 90-year reign. Instead, Toyota dealers will be busy in 2022 launching the Tundra hybrid pickup, a redesigned Sequoia SUV and a new battery-electric vehicle, the bZ4X crossover, says Danny Wilson, the new chairman of the Toyota National Dealer Advisory Council.

Wilson, 49, dealer principal at Wilson Toyota of Ames in Iowa, also says that Toyota's SmartPath digital retailing tool will give its dealer network a distinct advantage as it competes for customers amid ongoing inventory shortages.

"With the introduction of this new Tundra, [Toyota is] all-in, back in" in terms of the full-size pickup segment, Wilson told Automotive News. He said Toyota has committed to its dealers to nearly double the production of Tundras in 2022 over 2021 levels, giving them a chance to compete in a lucrative marke…

An Israeli startup says that by 2032, it will have batteries ready for mass production that can give an electric vehicle 100 miles of range in just two minutes of charging.

StoreDot released the target this month as part of a road map outlining how the company expects its fast-charging battery tech to evolve over the next decade.

In a March 2 news release, StoreDot said it was "firmly on track" to mass-produce fast-charging lithium ion battery cells in 2024 that can generate 100 miles of range on five minutes of charging. Likewise, it said it was in "advanced stages" of developing semi-solid-state technology that could bring charging times for that range down to three minutes by 2028.

"Our ultimate goal, though, and one that is absolutely in our grasp, is to produce cells that will revolutionize charging times, achieving 100 miles of range in only two minutes," StoreDot CEO Doron Myersdorf said in a statement. "This breakthrough performance that was on…

The number of vehicles cut from automakers’ factory schedules because of ongoing microchip shortages surged 42 percent this week from previous estimates, according to AutoForecast Solutions.

The increase brought the total number of vehicle cuts to 929,500 worldwide so far this year, according to the latest figures from AFS. That’s up from its prior estimate of 656,200.

Plants in Europe and Asia were hit the hardest over the past week. AFS added about 110,000 vehicles to its estimate of vehicles axed from European assembly plant schedules, while plants in Asia outside of China added 106,200 more cuts over the course of the week.

The industry continues to grapple with the microchip crisis, now in its second year, even as it also addresses challenges stemming from Russia’s invasion of Ukraine and other events. Toyota Motor Corp. said last week it will reduce output at its Japanese plants by 20 percent in April, May and June as its suppliers deal with short…

With the launch of the Ioniq EV subbrand and addition of new hybrid models to the Hyundai lineup, dealers are preparing for an orderly transition to a zero-emissions future with the help of the automaker.

"This is something that Hyundai and the dealers will be leaning into big time," said Kevin Reilly, chairman of the Hyundai National Dealer Council and owner of Alexandria Hyundai in Virginia.

The Ioniq subbrand, with three models being rolled out by 2024, provides a road map for dealers and customers on battery-electric vehicles. Hyundai also is offering a greater variety of hybrid vehicles and launched the Santa Cruz small pickup to bolster its light-truck options.

That broad combination of gasoline-only, hybrid, plug-in hybrid, battery-electric and hydrogen fuel cell options gives the automaker a strong portfolio to meet customer needs.

"Hyundai is very good at figuring that out and adapting to the market," Reilly said. "They've been very goo…

Minnesota dealer Richard Herod III is the fired-up, incoming chairman of the Mitsubishi National Advisory Board. His term begins at the NADA Show, and he's stepping up from vice chairman. Herod, 44, is particularly fired up about the all-new Mitsubishi Outlander, which debuted in February 2021.

"The Outlander has been a hit from day one — the car, the price, the packaging. If we had more, we'd sell more. I can't wait for the plug-in hybrid," said Herod, general manager and managing partner at White Bear Mitsubishi in White Bear Lake, Minn., in the St. Paul area.

Herod is part owner, in partnership with Rydell Automotive Group of Grand Forks, N.D. His dealership's mascot is a white bear, and the store's used-car purchasing program is named "The Bear Buys." A separate location that focuses on used cars, parts and service and motorsports in Mounds View, Minn., is named "The Bear Lot."

His enthusiasm for the brand is understandable. The Outlander racked up…

Ford Motor Co. is developing a novel idea to train its retail network on how to properly sell and service electric vehicles: take them back to school.

The automaker and its dealer council plan to launch an initiative called Electric University, a multiday educational program operated near Ford's Dearborn, Mich., headquarters that would give salespeople, service technicians and parts department staffers a crash course on all things EV.

"We're going to be able to send our people and immerse them in the world of electrification," Tim Hovik, Ford's National Dealer Council chairman, told Automotive News. "This really is a transformative time in history. Everything we've ever done before ... this is a different world."

While the details haven't been settled, Hovik said the program likely would include in-person classes covering everything from an EV's performance capabilities vs. internal combustion vehicles to ancillary ownership ben…

Ford Motor Co. will no longer require dealers to finance through Ford Motor Credit to receive floorplan assistance following dealer blowback to the policy it announced this month.

Although most dealers already floorplan through the captive finance arm — 72 percent of Ford brand dealers and 83 percent of Lincoln brand dealers, per executives — the change was met with widespread opposition. Ford had announced in a memo that dealers who don't floorplan through Ford Credit would lose that assistance starting in January 2023.

When Ford executives announced the change Saturday at the make meeting, many dealers stood and applauded, which made for an awkward moment when Ford Credit CEO Marion Harris addressed retailers moments later, according to those in the room.

Ford executives said they would continue with another change to the floorplan assistance program that would reimburse dealers for floorplan costs based on actual days in inv…

Fewer vehicles on dealership lots may not be a terrible thing, Acura told its retailers at their make meeting here Saturday.

"We're seeing it's not necessary for there to be an abundant supply on ground, as long as the dealers have visibility into what its incoming pipeline is," Emile Korkor, Acura assistant vice president of national sales, told Automotive News after the meeting.

Dealers and executives in the meeting discussed the brand's road to electrification and upcoming vehicles, but also highlighted the learnings they have picked up during the disruption.

There's some upside for Acura amid an inventory crunch that has left luxury shoppers waiting for their vehicles for longer than is comfortable for the brand, Korkor said. He reported that Acura dealers are now selling as deep as 90 days into their inbound cars.

That allows Acura an opportunity to prioritize the vehicles and configurations shoppers want. It's not build-to-order, but more …

As BMW unfurls a fleet of next-generation electric vehicles, it will not commit to an online-only sales model pioneered by EV juggernaut Tesla, BMW of North America CEO Sebastian Mackensen told dealers at the make meeting on Saturday.

But shifting consumer trends in the age of Amazon requires making the "digital part of the customer journey" as frictionless as possible, he said.

"It doesn't matter what the customer chooses as an avenue to purchase a vehicle — is it first physical, is it first online?" Mackensen told Automotive News after the meeting. "We have to make sure if you want to purchase a BMW, you get a seamless experience from ... the manufacturer website to a car dealer website to your final purchase."

BMW's digital approach to car-buying is drivetrain-agnostic, said Shaun Bugbee, executive vice president of operations.

"We are building a process that is customer-driven ... and it doesn't matter if it's an M…

Chevrolet is making it clear to dealers: It has a foot firmly planted in both propulsion camps.

As the brand prepares to roll out a roster of electric vehicles, it is rapidly updating its most popular internal combustion vehicles.

Chevy plans to launch more than a dozen new or freshened models over the next two years, said Keith McCluskey, chairman of the Chevrolet National Dealer Council and CEO of McCluskey Chevrolet in Cincinnati.

"2022 and 2023 will fly by," he said ahead of the make meeting. "If you do the math, about every eight weeks, we've got a new or refreshed model coming out for the next two years. And for the first time ever, [Chevy is] really moving into the mainstream on the EV side of things."Today, Chevy sells the Bolt EV and Bolt EUV, which are powered by General Motors' previous-generation battery platform.

But the next group of EVs will be larger crossovers and pickups, and they will be powered by GM's proprietary Ultium batt…