Trade News

LOS ANGELES — Upstart luxury brand Genesis revealed its initial electric vehicle developed on a dedicated EV platform, the GV60 compact crossover.

While the Genesis EV is billed as a crossover, the automaker gave it a unique shape to appear more like a coupe.

"When viewed from the side, GV60 reveals the smooth and dynamic profile of a high-performance coupe," Genesis said Wednesday. "GV60's exterior design highlights its high-performance image along with a dynamic and smooth appearance."

The GV60 is expected to go on sale in the first half of next year in the U.S., or about the same time frame as the EV version of the G80 midsize sedan.

The GV60 is build on Hyundai Motor Group's E-GMP platform shared with the coming Hyundai Ioniq 5 and Kia EV6. The electrified G80 is based on a modified gasoline-vehicle platform.

The Ioniq 5, which is coming to the U.S. later this year, comes in rear-wheel drive or all-wheel drive, with an estimated 300 m…

Two organizations involved in an ongoing Chicago-area mechanics' strike met Friday for a bargaining session, but no deal was struck.

The strike involves Local 701, a union representing mechanics at 56 Chicago-area car dealerships, and the Chicago New Car Dealer Committee, which represents the stores. The two groups have been locked in a heated debate over what a new four-year contract for the mechanics should look like.

Both sides drew up contract proposals on Friday, according to an NCDC spokesman. Neither passed.

During negotiations, NCDC offered to drop "most favored nation" language from its contract proposal if Local 701 accepted the rest of its terms. An MFN clause is finance jargon that means a first party will be entitled to terms as favorable as a second party is getting in certain circumstances.

Local 701 rejected that offer and made a counterproposal. A union spokesman said members are waiting to hear back fr…

WASHINGTON -- Ford Motor Co. said Wednesday it will temporarily shutter its Kansas City assembly plant that builds its bestselling F-150 pickup truck due to a semiconductor-related parts shortage as a result of the COVID-19 pandemic in Malaysia.

The one-week shutdown will begin Monday, the automaker said, adding it will also cut a shift on Saturday. The global auto industry has been hit hard by chip shortages that have caused significant production cuts.

Tesla won't set up a showroom in Connecticut as it originally planned, but its move to at least set up an automotive service center gained traction on Aug. 11, when East Hartford officials approved its latest application to build.

The electric vehicle manufacturer originally submitted to East Hartford's Planning and Zoning Commission a permit application to build a showroom/service center in the area. The commission approved that in April.

But lawsuits seeking to stop Tesla from selling in the region questioned the legality of the issued permit, and the automaker ended up filing a revised permit application on July 27, according to the East Hartford Journal Inquirer.

At an Aug. 11 meeting, the commission tossed Tesla's initial special-use permit in favor of approving the new one, which specifies it can only operate a service center in the region, not sell new or used cars.

Tesla's presence in Connecticut has long been ch…

WASHINGTON -- NHTSA said Wednesday it may impose higher penalties for automakers failing to meet fuel efficiency requirements in recent years, a decision that could cost the industry hundreds of millions of dollars or more.

President Donald Trump's administration in its final days in January delayed a 2016 regulation that more than doubled penalties for automakers failing to meet Corporate Average Fuel Economy requirements.

Automakers protested that 2016 hike, warning it could boost industry costs by at least $1 billion annually. The hike could cost FCA parent Stellantis hundreds of millions of dollars, for example, while boosting the value of credits sold by Tesla Inc.

Under President Barack Obama, the higher penalties were set to start with the 2019 model year, but the Trump administration -- which first tried to suspend the hike -- agreed following a court decision to set the effective date as the 2022 model year.

NHTSA said it is giving the …

DETROIT -- Truck fleet operator Ryder System Inc. will manage and maintain autonomous trucks for Waymo Via, the autonomous truck unit of Google parent Alphabet Inc., the companies said on Wednesday.

Waymo Via is testing a small fleet of trucks with its automated driving system in Texas, Arizona, California, Ohio and Michigan. Under the new partnership, Ryder will handle maintenance and roadside service, among other services, the companies said.

"Over time, we see tremendous opportunity to expand our collaboration to accelerate the broad deployment of autonomous trucks," Rocky Garff, head of Waymo Via's trucking operations, wrote in a blog post.

Waymo Via also is building a hub for autonomous trucks in the Dallas-Fort Worth area that will be "able to accommodate hundreds of trucks and personnel," Garff wrote.

Waymo did not say when its autonomous truck fleet would grow to hundreds of vehicles.

Waymo Via said last October it is collaboratin…

CDK Global Inc. reported higher revenue and profit in its fiscal fourth quarter, a period in which the company brought digital retailing firm Roadster under its umbrella.

The Hoffman Estates, Ill., dealership management system giant on Tuesday posted net earnings attributable to CDK of $49.4 million in the period ended June 30, up 8.3 percent from the year-earlier period.

CDK's net earnings from continuing operations, which do not include the international business unit it divested in March, fell 42 percent to $36.3 million.

CEO Brian Krzanich said in an earnings call Tuesday afternoon that the sale helped strengthen CDK Global's balance sheet and reduce debt, as well as pursue the $360 million acquisition of Roadster in an all-cash deal.

That purchase is seen by CDK as key to the company being at the cutting edge of retail technology. "Roadster is proving to be that final piece in our puzzle to really help modernize and…

Asbury Automotive Group Inc. last week bought its third dealership in Colorado and is believed to have made its first acquisition since buying eight luxury-brand Park Place Dealerships stores in Texas last August.

Asbury on Aug. 9 bought Greeley Subaru, northeast of Denver, from Warren Yoder. The dealership has been renamed Mike Shaw Subaru Greeley.

"Subaru is a highly desirable brand with a history of success in the market and nationwide," Asbury said in a statement to Automotive News. "This acquisition also strengthens our presence in the Colorado market."

The Greeley store is Asbury's second Subaru dealership. Asbury also owns Mike Shaw Subaru in Thornton, Colo., which it acquired in November 2019.

Fellow public auto retailer Sonic Automotive Inc. also acquired a Subaru dealership in Colorado last month.

Asbury in February 2020 bought a Chrysler-Dodge-Jeep-Ram store in Greeley, a dealership that also operates under the Mike Shaw brand,…

TOKYO — This might be the age of the electric, but Nissan just redesigned its iconic Z car with a boost of gasoline-powered horsepower.

With a high-output 3.0-liter V6 powerplant, the new Z is a 400-hp, twin-turbo, retro-styled piece of eye candy, gaining 68 hp and a 30 percent increase in torque. It is also quicker off the line, eking a 15 percent improvement in the car's 0 to 60 mph time.

It's the first time the Z has packed 400 or more hp.

Retro-styled on the outside, high-tech on the inside, the redesign is partly homage to the car's origins and partly a signal for Nissan's new direction.

With its global sales focused mainly on the U.S. and Japan, the Z is expected to be more of a brand builder than volume player.

Indeed, the Z is a key element in CEO Makoto Uchida's "Nissan A to Z" product blitz, which aims to rejuvenate an aging lineup with a steady stream of new offerings. The "A" stands for the new Ariya electric crossover, and the…

LOS ANGELES — Kia America has named Eric Watson vice president of sales operations, overseeing the automaker's regional and corporate sales operations in the U.S.

Watson, who has been acting vice president of sales operations since March, begins his new role immediately and reports to Kia North America CEO Sean Yoon, Kia said in a news release Monday.

Through July, Kia has achieved five consecutive monthly sales records and reached record U.S. market share, according to the automaker.

Kia America's previous head of sales operations, Bill Peffer, resigned suddenly in January — one week after also assuming the title of COO. Peffer was named CEO of Maserati North America shortly after leaving Kia.

Watson joined Kia in December 2017 as director of field operations. Before that, Watson worked for Mazda North American Operations for eight years. His last post at Mazda was director of marketing operations, according to his Linke…