Trade News

SAO PAULO — Chinese automaker BYD on Tuesday said it will invest 3 billion reais ($620.17 million) in a new industrial complex in northeastern Brazil, as it aims to boost local production to offer more competitive prices.

The complex, made up of three plants, will be built in the Camacari industrial park in the northeastern state of Bahia, on land formerly occupied by a Ford plant that closed in 2021.

The announcement comes on the back of a reported push from the government to incentivize BYD to build a new electric vehicle hub after Ford closed its plant in the state.

Operations at the factories are expected to start in mid-2024.

One of the plants will be dedicated to production of chassis for buses and electric trucks, BYD said in a statement.

The second plant will be focused on hybrid and electric vehicles with initial production estimated at 150,000 vehicles per year, while the third will process lithium and iron phosphate for the …

BYD Co., China’s best-selling car brand, unveiled a new electric crossover — the Denza N7 — at a glitzy event in a former factory in Beijing on Monday, stepping up its push into the premium sector.

The model, which comes in six versions, has a starting price of 301,800 yuan ($41,680), which Morgan Stanley noted was in line with market expectations for 300,000 yuan.

Pre-orders have exceeded 20,000 units since the Shangha auto show in April, according to BYD, which showcased five different-colored N7 crossovers in a giant exhibition hall at the unveiling in Beijing, attended by several hundred people. The EV will initially be sold in mainland China.

The N7 launch follows the introduction of another BYD crossover early this year, the U8, which falls under the company’s Yangwang brand. The Shenzhen-based automaker then unveiled another higher-end range last month called Fang Cheng Bao, which translates as Formula Leopard.

Morgan Stanley analysts inclu…

SHANGHAI -- SAIC Motor is working on the site selection to build a plant in Europe to produce electric vehicles, the company said on Tuesday, as it presses ahead with it expansion in the region.

The Chinese partner of Volkswagen and General Motors, which did not give further details on the plant plans, said it had sold 530,000 units overseas in the first quarter, an increase of 40 percent from a year earlier.

Nearly 70 percent of those sales came from the MG brand in Europe, which more than doubled to 115,000 units in the first half, SAIC said.

The state-owned Chinese automaker estimated its overseas sales could exceed 1.2 million units in 2023. It plans to launch more than 10 new models under the MG brand in the next 18 months globally.

Automakers including Tesla, BMW and BYD are ramping up efforts to export China-made vehicles to other markets as auto demand weakened at home, taking advantage of the lower manufacturing and supply chain costs in …

TOKYO -- Toyota’s radical electric vehicle overhaul will deliver a plethora of knock-on benefits beyond the next-generation of Tesla-fighting Toyotas that start rolling off the line from 2026.

Breakthrough manufacturing processes will be applied to factories making more conventional vehicles as well. Meanwhile, the new all-electric platform being engineered from scratch may even be shared with partner automakers, helping Toyota expand scale and further slash costs.

All of Toyota’s global operations will cash in on the EV shift, not just its nascent EV business.

Top brass at the world’s biggest automaker outlined the multiplier effects on Tuesday in the latest briefing on their plan jump ahead in the global electric vehicle race in just a few short years.

The road map, pioneered by new CEO Koji Sato, calls for new engineering of Toyota’s products as well as its factories. On the manufacturing side, Toyota plans to halve the number of production pr…

Kia America posted second-quarter U.S. sales of 210,197, an increase of 15 percent compared with the year-ago quarter. June sales rose 8 percent to 70,495 and marked Kia's 11th consecutive month of gains and the seventh time Kia has posted more than 70,000 sales in a single month.

Kia also set a first-half record, with sales of 394,333, up 18 percent compared with 2022.

Eric Watson, Kia America's sales chief, told Automotive News that compared with the first six months of 2021, a notably strong period for the industry as consumers flocked back to showrooms following the pandemic, Kia's first-half results were up 5 percent.

Watson attributed Kia's record first-half results to the strength of its crossover lineup, which logged an increase of 26 percent in the first six months.

Kia's Forte sedan also is doing well thanks to urban shoppers, who still prefer smaller, more cost-efficient vehicles.

"Looking at markets on the West Coast like Los …

EV startup Rivian Automotive, which has struggled with manufacturing issues since its 2021 launch, delivered 12,640 vehicles in the second quarter, beating analyst estimates and sending its stock price higher.

Rivian produced 13,992 vehicles in the April to June period, including its R1T pickup truck, R1S crossover and EDV delivery vans for Amazon, the company said Monday. Rivian doesn't break out production or deliveries by model.

The second-quarter numbers were significantly better than the previous quarter when the California-based automaker delivered 7,946 vehicles out of its Normal, Ill., factory and produced 9,395. Rivian had said EDV van production would be reduced in the first quarter as it moved to an in-house electric motor — rather than a supplier unit — for the vans.

Analytics firm Visible Alpha had estimated Rivian's second-quarter deliveries at 11,000 vehicles, according to Reuters.

Rivian's battered stock price rose about 17 perce…

Dealership management system provider CDK Global has acquired full ownership of Computerized Vehicle Registration, a provider of certified electronic vehicle registrations.

Based in Petaluma, Calif., CVR had been backed by CDK and competitor Reynolds and Reynolds, according to CVR's website. The company will operate as a CDK business, but CVR products will continue to integrate with Reynolds and Reynolds and other DMS providers, CDK said in its June 30 deal announcement.

"Reynolds was a minority owner of CVR. As we continue to look forward to growth and innovation, now was the right time to sell our small stake," said Chris Walsh, president of Reynolds and Reynolds.

CDK could not be reached for comment. Neither CDK nor CVR disclosed financial terms.

CDK said the acquisition is the first since investment firm Brookfield Business Partners acquired the Hoffman Estates, Ill.-based company for $8.3 billion in July 2022. It aligns with the company's foc…

Pent-up consumer demand and improving supply buoyed Nissan Motor Co.'s sales recovery in the key U.S. market again in the second quarter.

The automaker's U.S. sales surged 33 percent to 244,353 in the second quarter, lifting the year-to-date improvement to 25 percent.

The Nissan division sold 227,824 vehicles in the second quarter, 32 percent more than a year earlier. Infiniti's volume climbed 57 percent to 16,529 vehicles.

Judy Wheeler, Nissan division vice president of sales and regional operations in the U.S., said supply, especially of core models, has "improved substantially."

The improved supply comes as consumer interest perks up with inflation concerns ebbing somewhat.

"There's still some pent-up demand out there of consumers that waited," Wheeler told Automotive News on Monday. "Although, they are being more particular than they were two years ago."

Nissan's robust lineup of small, fuel-efficient models is lifting sales. Read more

Stellantis' U.S. sales rose 6 percent in the second quarter, breaking a streak of seven consecutive quarterly declines, though the Jeep brand is still looking for better traction as the overall market rebounds sharply from the pandemic and chronic parts shortages.

Sales by Jeep, Stellantis' biggest brand, slipped 3 percent, marking its eighth straight quarterly decline. While the brand was down overall, the Wrangler 4xe plug-in hybrid had its best quarter ever as deliveries jumped 56 percent from a year earlier. But overall volume of the Wrangler, Jeep's No. 2 seller after the Grand Cherokee, dropped.

The Wrangler 4xe is America's bestselling plug-in hybrid, followed by the Grand Cherokee 4xe at No. 2. Sales of the Chrysler Pacifica Hybrid, No. 4 among plug-ins, more than doubled in the quarter.

Ram, with flat pickup sales and higher van sales, ended a streak of seven quarterly declines.

Dodge, Chrysler and Ram each achieved sales gains in the q…

Subaru sales jumped 28 percent in June to 55,168 as easing inventory constraints boosted availability, driven by its biggest selling nameplates. June marked the second straight month that Subaru's U.S. sales advanced 28 percent, and its 11th consecutive monthly increase year over year.

Brand: Up 28 percent in June, 15 percent for the first half.

Notable nameplates: Outback, up 24 percent; Crosstrek, up 29 percent; Forester, up 34 percent.

Quote: "With a strong first half of 2023 in the rearview, we're well-positioned to continue our sales growth and meet the demand for vehicles that speak to the lifestyles and needs of our customers," Troy Poston, senior vice president of sales, said in a statement.

Did you know? After struggling for years with the industry's tightest inventories, Subaru's sales have now grown for 11 consecutive months year over year as its dealers reload their stocks. Through the first half, Subaru sales are up 15 percent to 30…

Audi of America Chief Marketing Officer Tara Rush is leaving the automaker.

Rush joined Audi in 2019 as chief communications officer in 2019 and was promoted to CMO in November 2020. She was previously at Heineken USA in the role of chief corporate affairs officer.

Audi of America President Daniel Weissland in a statement to Ad Age said, “Tara was a highly valued member of Audi of America’s executive leadership team during a transformative time within our industry and we are grateful for her many contributions to the business. We wish her all the best on her future endeavors.” 

Rush “plans to take some time to recharge before her next chapter,” Weissland stated in an internal memo. Leading the marketing department on an interim basis will be Jessica Thor, Audi of America’s director for brand strategy; and Maggie Mohiuddin, director of brand channel marketing, Weissland stated in the memo.

During Rush’s tenure, Audi of Amerca changed lead U.…