Trade News

Toyota Motor North America will promote a longtime marketing executive to group vice president for Toyota marketing, succeeding Ed Laukes, who announced his retirement in November.

Lisa Materazzo, 52, vice president of Lexus marketing for Toyota Motor North America, will succeed Laukes on Jan. 4. She will be responsible for Toyota Division's market planning, advertising, merchandising, sales promotions, incentives, NASCAR and motorsports, as well as all social and digital media, the Japanese automaker said Thursday. She will report to Toyota Division General Manager David Christ, whom she worked with at Lexus when he led the luxury division.

Her promotion comes as TMNA plans a flurry of new, redesigned or refreshed vehicles that will hit U.S. dealer lots within the next 16 months.

Materazzo is in her second stint at Toyota Motor North America. She joined the company in 1998 as a senior product planner after working for eight years at investment brokerage…

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.

J.D. Power's Chris Sutton says the firm's latest U.S. Sales Satisfaction Index shows digital retailing is contributing to a better car-buying experience. Plus, Lincoln delivers in more ways than one.

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"If you go into an entry-class car, you probably end up with 20 to 50 sensors that use semiconductors," Frank Findeis, vice president for automotive sensors at German semiconductor maker Infineon, told Automotive News in August, 2020. "If you go to a high-end car, you easily end up with 100."

"If you start looking into the car where the sensors are hidden it's amazing, really, the number of applications is going through the roof," Findeis added.

A recent study by consulting firm McKinsey estimated that the overall sensor market will grow by 8 percent a year into 2030, making it by far the fastest growing segment in automotive componentry. This despite the fact that the company says the market sensors for internal combustion engines will decline overall. It’s body, chassis, and most of all driving assistance sensors that are booming.

The upside is easy to see. The vast amounts of information those sensors produce presents the opportunity to build safer, …

WASHINGTON/SEOUL -- The U.S. International Trade Commission on Wednesday delayed a decision in a trade secrets case involving South Korean battery makers LG Chem and SK Innovation to Feb. 10.

LG Chem, an EV battery supplier for Tesla Inc. and General Motors, filed its trade complaints against SK Innovation last year in the United States over allegations of trade secret theft, seeking to block SK from producing battery cells in the U.S. and importing the components necessary to make the cells. SK denied wrongdoing. The decision had been expected on Thursday.

An adverse ruling by the ITC could lead to an import ban on SK Innovation's batteries and necessary components, potentially causing setbacks for Volkswagen Group and Ford Motor Co. as they move to build new EVs.

SK Innovation is building its first battery factory in Georgia which is set to begin production in 2022 and could be affected by an adverse ruling. The factory with capacity of 9.8 G…

Cruise has joined the growing ranks of self-driving technology companies removing human safety drivers from at least part of their test fleets. But those safety operators won’t be going far. No longer behind the wheel, they will remain nearby – in the passenger’s seat, company officials said Wednesday   “We recognize this is both a trust race as well as a tech race,” a Cruise spokesperson said. “We will maintain a safety operator in the passenger seat. The safety operator has the ability to bring the vehicle to a stop in the event of an emergency, but does not have access to standard driver controls.” Meanwhile, executives at the General Motors-backed company lauded the removal of humans from behind the wheel as signal of progress. It comes after five years of testing in San Francisco in which Cruise vehicles accumulated more than 2 million real-world miles of testing. Cruise said the first ride with no human behind the wheel occurred on a…

California tech company Huddlebots, producer of what its website calls "nanorobotic machines," is breaking new scientific ground. But Huddlebots' technology is not to be confused with the fictional nanobots described in science fiction writer Michael Crichton's novel Prey. Instead, Huddlebots' nanorobots are "molecules with a unique property that enables them to be programmed to carry out a specific task" thanks to "exploiting programmable self-assembly properties of nucleic acids."

Alas, like much of the science described on the site, Huddlebots doesn't actually exist. Nevertheless, the company has shown up nearly a dozen times as an employer on auto loan applications.

According to San Diego fraud company Point Predictive, Huddlebots' website is fake, established to trick lenders into accepting fraudulent employment information about a potential borrower. It's one fraud method contributing to the massive jump in income misrepresentation at auto lenders that Po…

Low interest rates and longer loan terms have been a saving grace for vehicle sales, according to Experian's latest State of the Automotive Finance Market report. Affordability remains a challenge, however, and consumers with the top credit backgrounds are returning to the used-vehicle market for deals.

Melinda Zabritski, Experian's senior director of automotive financial solutions, said the third quarter saw a return of higher-credit customers to buying used vehicles. Those buyers were enticed in the second quarter by generous automaker incentives, but those deals are waning as the year progresses.

Prime and above borrowers made up 55.3 percent of used vehicles financed in the third quarter, a new high for the report. Still, while new-vehicle loans were more expensive, longer terms and a low interest rate kept monthly payments down.

"Rates are over a percentage point lower than where they were last year. We're seeing the terms go u…

Asbury Automotive Group Inc. considers its first attempt to grow used-only sales with standalone locations a failed experiment. In 2017, when the last Q auto location closed, executives said the retailer planned to focus its investments on "alternative routes to market" that will deliver higher profits.

Clicklane, Asbury's omnichannel solution that formally launched last week, aims to tackle the central problem it faced with physical used-only stores: securing finance offers for credit-challenged consumers. Omnichannel refers to offering a seamless buying experience to consumers whether they shop online, in store or both.

The result could catapult the retailer's used-vehicle sales strategy into new markets while simultaneously improving the digital retailing environment for consumers in all credit tiers.

Lacking the lending infrastructure of a franchised store, Asbury's Q auto standalone used-only locations struggled to offer financ…

HAMBURG -- Volkswagen pledged to continue talks among its key stakeholders on Wednesday following a meeting of the company's supervisory board, as the world's largest automaker seeks ways to defuse a leadership crisis.

The meeting of the board of directors was convened after CEO Herbert Diess demanded a contract extension and more backing for his reform efforts, some of which had been opposed by the company's powerful labor chiefs.

"Talks between the participants continue in a constructive manner," the supervisory board spokesman said in a statement.

"Decisions were not made in today's meeting, as expected."

Diess has sought to shift VW from being the world's biggest maker of combustion engined vehicles into a company capable of mass producing electric and increasingly autonomous cars.

The pace and depth of his reforms, including efforts to lower costs in Germany and to transform Volkswagen into a tech company, has led to clashes with labor…

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.

Mazda North American Operations President Jeff Guyton is seeing a spirit of cooperation among employees and a dealer body that has never been "higher" on the brand as it aims to eke out a U.S. sales victory during a volatile 2020.

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