Trade News

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Morbi a ornare dui. Phasellus pellentesque urna ut volutpat vulputate. Donec id quam placerat, convallis nisi non, tristique neque. Nunc aliquet imperdiet ex non volutpat. Maecenas varius mattis nunc. Nulla facilisi. Donec aliquam tincidunt rhoncus. Praesent tincidunt placerat odio, cursus finibus elit vulputate quis. Vivamus a posuere neque. Pellentesque quis ex eros. Ut ut pulvinar nisl, non convallis eros. Vivamus dignissim, nisl ut aliquam semper, risus lectus tristique augue, in rhoncus dui eros id dui. Duis ut aliquet enim. Sed laoreet venenatis mi, eget sollicitudin augue congue eu.

Proin placerat ex tincidunt cursus lobortis. Mauris tortor arcu, lacinia non dui eget, dictum aliquet libero. Curabitur nec mattis diam. Pellentesque facilisis scelerisque ultricies. Praesent accumsan tincidunt est. Maecenas nec lectus non purus tempus faucibus sed vitae sapien. Fusce et nibh vel nisl imperdiet malesuada. Sed…

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Morbi a ornare dui. Phasellus pellentesque urna ut volutpat vulputate. Donec id quam placerat, convallis nisi non, tristique neque. Nunc aliquet imperdiet ex non volutpat. Maecenas varius mattis nunc. Nulla facilisi. Donec aliquam tincidunt rhoncus. Praesent tincidunt placerat odio, cursus finibus elit vulputate quis. Vivamus a posuere neque. Pellentesque quis ex eros. Ut ut pulvinar nisl, non convallis eros. Vivamus dignissim, nisl ut aliquam semper, risus lectus tristique augue, in rhoncus dui eros id dui. Duis ut aliquet enim. Sed laoreet venenatis mi, eget sollicitudin augue congue eu.

Proin placerat ex tincidunt cursus lobortis. Mauris tortor arcu, lacinia non dui eget, dictum aliquet libero. Curabitur nec mattis diam. Pellentesque facilisis scelerisque ultricies. Praesent accumsan tincidunt est. Maecenas nec lectus non purus tempus faucibus sed vitae sapien. Fusce et nibh vel nisl imperdiet malesuada. Sed…

Daimler's North American truck unit on Thursday agreed to a $30 million U.S. civil penalty to resolve an investigation of delayed recalls, the second time since late 2019 the German automaker has agreed to settle a probe by U.S. auto safety regulators.

NHTSA said Daimler Trucks North America failed to recall vehicles in a timely fashion and comply with reporting requirements after the agency opened a probe in April 2018 of about 464,000 vehicles.

As part of the settlement, Daimler Trucks agreed to develop and implement an advanced data analytics program to enhance its ability to detect and to investigate potential safety defects as part of a two-year consent order that can be extended by NHTSA for one additional year.

Daimler Trucks must pay $10 million upfront and spend an additional $5 million on projects to enhance safety. The agreement includes a $15 million deferred penalty that can become payable if Daimler does not comply with the consent order. Read more

Ford Motor Co. said Thursday it was calling off its automotive joint venture with India's Mahindra and Mahindra Ltd. due to the challenges caused by the COVID-19 pandemic.

The companies said in separate statements that the decision was driven by changes in the global economy over the last 15 months, causing both to reassess their capital allocation priorities.

"The global economy and business environment are not the same as October last year," Ford spokesman T.R. Reid said.

The deadline to finalize a joint venture between the companies was Dec. 31, and both made the decision to end the agreement rather than close a deal or extend the timetable to do so, Reid said.

In October 2019, Ford and Mahindra said they would form a joint venture in India in a move to cut costs for developing and producing vehicles for emerging markets. The companies said at the time they expected to launch three new utility vehicles, starting with a midsize utility vehicle, …

BEIJING -- China will subsidies by a fifth next year on new energy vehicles such as electric cars, the finance ministry said on Thursday, as it seeks to combat pollution and cultivate home-grown champions in the auto sector.

China, the world's biggest auto market, has set a target for NEVs, including plug-in hybrids and hydrogen fuel cell vehicles, to make up 20 percent of auto sales by 2025, up from 5 percent now.

China’s EV market dwarfs that of other countries and the government is intent on further expansion amid commitments to reduce fossil-fuel use.

Global automakers such as Volkswagen Group, General Motors, Toyota Motor Corp. and Tesla Inc. are ramping up EV production in China. The are facing competition from domestic automakers, notably Nio, Xpeng and Li Auto.

Subsidies will be reduced by 10 percent on NEVs for public transport, including buses and taxis, the ministry added in a statement on its website.

China w…

Ford Motor Co. has called an audible on its New Year’s Day college football marketing in a move to promote mask-wearing. The automaker will dedicate a significant portion of its media buy during Jan. 1 bowl games to a new ad called “Finish Strong,” which promotes mask-wearing and other safety measures, while foreshadowing better days ahead as vaccines distribution ramps up.

The spot is narrated by Ford spokesman Bryan Cranston and was created by filmmaker Peter Berg. It will air during the Citrus Bowl on ABC and the Peach Bowl, Rose Bowl and Sugar Bowl on ESPN, as well as during Fox NFL games on Jan. 3. Ford had originally intended to use its airtime during the high-profile sporting events to plug vehicles, including its top-selling F-150 pickup truck. But the automaker opted to use half of its buys for “Finish Strong.”

“We’re in this together and Ford’s goal since the pandemic started has been to try to help save lives,” Kumar Galhotra, Ford’s president …

CarMax's long-stated goal has been to give customers the chance to transact when, where and how they want to — whether in the physical or digital realms or in both — a concept known as omnichannel retailing.

The nation's largest used-vehicle retailer has now transformed every aspect of its business to fulfill this goal, and it will let the masses know about it through a multimillion-dollar marketing push set for 2021, CEO Bill Nash said.

"We want customers to understand that CarMax offers the ultimate flexibility to shop and buy on their terms, their way," Nash said last month after the retailer reported higher earnings for its fiscal third quarter.

CarMax was set to launch the first ads in its multimedia marketing campaign in late December. The pitch, Nash said, is to highlight the differences between the sales platform offered by CarMax and the approach taken by traditional dealerships and online competitors.

The new campaign will run across …

LOS ANGELES — Kia Motors America has big plans for the coming new year, including five new or significantly redesigned vehicles as part of a yearslong product blitz. It also has a new COO and advertising lead to get those vehicles onto Americans' driveways.

In mid-December, the Korean automaker began preparations for the next phase of its product push by naming the new team to deliver it .

Bill Peffer was promoted to COO and executive vice president after serving as vice president of sales operations since July 2017.

Peffer, 50, is essentially taking over the role of Michael Cole, Kia's former president, who left in June to become CEO of Hyundai Europe. At the time of Cole's move, Kia said the president's post would be assumed by Sean Yoon, CEO of Kia Motors America and Kia Motors North America.

"This promotion is well deserved," Yoon said in a statement about Peffer's new role, "and with five all-new and significantly redesigned vehicles slated…

UK carmakers offered faint praise for the country’s Brexit deal while warning border chaos will be unavoidable unless governments allow more time to meet new customs-related administrative requirements.

The accord reached last week with the European Union largely addresses the auto industry’s immediate concerns about tariffs, the Society of Motor Manufacturers and Traders said Wednesday. Still, the trade group said the agreement fails to deliver on key demands including regulatory cooperation and customs procedures.

“With no detail or time frame for implementing reform, immediate costs and friction are inevitable,” Mike Hawes, CEO of the trade group, said in a statement calling for a phase-in period that allows businesses to adapt. “Suppliers and manufacturers on both sides will face a significant administrative challenge that will undermine productivity and increase operating costs.”

The SMMT’s request echoes other business groups’ calls for a grac…

Join Automotive News Publisher Jason Stein for a daily podcast series about the coronavirus crisis. He’ll speak with industry experts, insiders and Automotive News reporters about how the virus is impacting and reshaping the automotive industry.

Why is Israel a hotbed for automotive innovation? And what are some of the latest technologies being developed in the country? Daily Drive guests answer those questions and more in this special edition.

How do I subscribe?

Can't wait to hear the next episode of "Weekend 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

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

Android

“Weekend Drive” is available on the Google Play store. Click…

The year 2020 altered the auto retail landscape in numerous ways. Dealers incorporated more financing steps in digital processes and dealership employees creatively navigated supply constraints. According to some of the nation's largest finance and insurance providers and administrators, 2020 is a year unlikely to be forgotten, one which galvanized change to the finance process. Here are a few notable trends that emerged over the past 12 months:

"Omnichannel" exploded: Digital retailing processes were by no means a byproduct of the coronavirus pandemic, though the adoption of these tools and processes by retailers this year certainly accelerated.

"We don't even know where the endzone is yet. Over the course of the last 10 months, technology has actually increased the business managers' value. You need somebody who can be versed front to back in a conversation with the consumer. We don't know yet what step of the process they're in [online]. Yo…

The coronavirus dominated the news cycle this year, roiling the U.S. auto industry and driving millions of Americans out of offices and into their homes.

Businesses big and small — including automotive retailers, suppliers and manufacturers — laid off thousands of workers as customer traffic dried up and manufacturing operations came to a temporary halt.

These disruptions galvanized the auto retail industry, prompting innovation, collaboration and widespread digital adoption, financial assistance and technical support.

Here were the top F&I stories of 2020:

GM launches broad plan to combat coronavirus impact: General Motors in March forged a comprehensive plan to mitigate business losses caused by the pandemic. The program included aggressive incentives for new-vehicles, 0 percent interest, 84-month loans and deferred payments of up to 120 days to customers in top credit tiers and free OnStar crisis-assist services…