Trade News

BMW AG CEO Oliver Zipse said Wednesday he is weighing options for the company's mobility services joint venture with Daimler AG, including bringing in new partners or possibly a partial sale.

BMW wants to continue to participate in the mobility services market "whether we bring in new partners or whether we sell it," Zipse told a videoconference of reporters.

"This is a very dynamic environment," he said. "You will see where we make one or the other move."

The future of Free Now, the BMW-Daimler venture that includes car sharing, ride hailing and other services, has been uncertain. Last month, Germany's Manager Magazin reported Uber Technologies had offered 1 billion euros ($1.18 billion) for the venture.

DETROIT — GM Financial's loan and lease originations climbed in the third quarter, even as General Motors' U.S. light-vehicle sales fell 9.9 percent, and more customers paid their loans on time, despite economic uncertainty.

Only 2.1 percent of payments were 31 to 60 days past due during the quarter, compared with 3 percent in the third quarter of 2019.

"In a period of higher unemployment and economic uncertainty, we would normally see higher delinquency and higher losses. It was completely against the trend of what we should see," Dan Berce, CEO of GM Financial, told Automotive News.

Government stimulus cash and relief provided by GM Financial helped consumers early in the pandemic, he said. But lately, consumers have changed their spending behavior to prioritize paying off debt.

"They're not spending money on entertainment, vacations and restaurants," he said. "Instead they are making debt payments, in particular auto…

What does diversity and inclusion mean at some of the nation's largest auto lenders?

From sports analogies to internal definitions, car finance leaders discuss the importance of drawing on talent from different pools, and creating good tension and discussion that better serves auto finance customers and dealership partners.

"Diversity is having a seat at the table. Inclusion is having a voice at the table. Equity is having equal access to the table. Unconscious bias is why some voices are heard more than others at the table. Mitigating bias is more than a moral imperative — it lifts performance. Diversity improves creativity, lessens groupthink and raises team intelligence by raising social intelligence."

— Craig Carrington, president of Ford Credit International Markets and co-chair of the Ford Diversity and Inclusion Council

"I love the NFL's definition: Diversity is who's on the team, and inclusion is who gets to play. For us, diversity is who …

General Motors is halting production of the Chevrolet Corvette for the rest of the week after new coronavirus restrictions disrupted the supply chain in Mexico, The Detroit News reported Wednesday.

GM spokesman David Barnas told the newspaper that Bowling Green Assembly in Kentucky will be closed Wednesday for Veterans Day and will remain closed Thursday and Friday because of the supply disruption.

Barnas told Automotive News via email that GM is not confirming the parts that are impacted by the temporary issue.

"We expect to resume normal operations on Monday, Nov. 16," GM's statement said. "Our supply chain, manufacturing and engineering teams are working closely with our supply base to mitigate any further impact on production."

GM also was forced to idle production of the hot-selling sports car for a week in October -- also because of a parts shortage in the supply chain.

Barnas said in the email that production of the 2021 model year w…

More than half of new-vehicle buyer households that attend the New York International Auto Show said their auto show experience influenced their buying decision, according to a study by Foresight Research.

The 10-year study of the show analyzed the attendance, demographics, media influence, value and purchase influence of the longtime event.

The study also touted the value of auto shows in general — they are ranked first as the most influential marketing channel or media channel, just ahead of digital, according to U.S. Auto Show Immersion Reports.

The study found that in the past decade, the New York show attracted an average of 628,000 households annually. About 83 percent of attendees said shopping was their motivation to attend. Last year, 62 percent of auto buyers attending the New York show said it influenced their decision.

The average "dwell time" at the show in 2019 was 4.75 hours compared with an average of 4.45 hours at all auto shows.…

Rivian plans to have a fully operational service network ready before most customers take delivery of their battery-electric R1T pickups and R1S SUVs, CEO RJ Scaringe told Automotive News.

Customers will have two options for repairs that cannot be carried out by over-the-air software updates: They can visit a brick-and-mortar service center or schedule mobile service to fix vehicles at their homes and businesses.

In a wide-ranging interview with Automotive News Publisher Jason Stein on Tuesday's Daily Drive podcast, Scaringe for the first time addressed how Rivian will offer service for its vehicles without a traditional dealership network.

"We're launching a large number of service centers throughout the U.S., really in the next nine months, 41 service centers. In addition to those service centers, we're building a very robust network of mobile service [providers] that will come to you, your business or your home," Scaringe said.

Because electric…

Volkswagen of America has hired industry veteran Kimberley Gardiner away from Mitsubishi to be its new head of marketing.

Gardiner, 52, will become senior vice president for brand marketing at Volkswagen effective Nov. 16, the automaker said. She replaces Saad Chehab, 53, who left Volkswagen in May after nine months on the job.

Gardiner has been an auto marketing manager for more than two decades, most recently working as chief marketing officer at Mitsubishi Motors North America. She previously led marketing efforts at Kia Motors, and was chief marketing officer and vice president of operations for 5th Kind, a global digital asset management company. She began her automotive career with Toyota in 1999.

Gardiner also is on Automotive News' list of 100 Leading Women in the North American Auto Industry.

In her new role with the Volkswagen brand, she will report to Duncan Movassaghi, executive vice president for sales and marketing for VW in the U.S.…

General Motors is recalling 194,105 vehicles in the U.S. because bolts on the stop-start accumulator could be loose or missing — resulting in a transmission oil leak, increasing the risk of a crash or fire.

The recalled vehicles are 2019-20 Buick Enclaves and Encores, 2018-19 Buick Lacrosses, 2019-20 Cadillac XT4s, 2020 Cadillac XT6s, 2019-20 Chevrolet Blazers, 2018-19 Chevrolet Cruzes, 2018-20 Chevrolet Equinoxes and Traverses, 2018 Chevrolet Malibus, 2019-20 GMC Acadias and 2018-20 GMC Terrains.

According to a NHTSA document GM is not aware of any injuries or accidents related to the issue.

In July, GM discovered two missing bolts on two stop-start accumulators and notified the supplier. The issue was corrected that month, ensuring accumulators have all four endcap bolts, according to the NHTSA document.

BorgWarner Inc. was listed as the parts supplier on the NHTSA document.

Dealer notification started Oct. 29. Vehicle owners will be noti…

NEW YORK -- Uber Technologies Inc. on Tuesday said it would roll out a new feature in the U.S. that will allow customers to reserve scheduled rides up to 30 days in advance.

The feature marks an expansion of Uber's traditional on-demand model and adds to previous initiatives that allow passengers to select drivers who accept pets or offer car seats.

Uber is seeing only a slow recovery of its U.S. rides business amid the coronavirus pandemic, with trips in the U.S. and Canada down 59 percent in the third quarter compared to last year.

Company executives said the new Reserve feature was a response to customer surveys and focus groups that showed a need for an option to book rides in advance for appointments, such as doctor visits.

Uber already offers customers the option to schedule rides, but executives said the new Reserve feature also allows riders to favor specific drivers and provides $50 in Uber credit should a reserved ride not arrive on time…

Mary Anderson of Birmingham, Ala., is granted Patent No. 743,801 on Nov 10, 1903, by the U.S. patent office for a "window cleaning device for electric cars and other vehicles to remove snow, ice or sleet from the window."

Her device — operated via a lever from inside a vehicle — was similar to the windshield wiper found on many early cars. Anderson tried to sell the patented device to a Canadian manufacturer, but the company refused. The device had no practical value, the company said, and so was not worth any money.

Though mechanical windshield wipers became standard equipment in passenger cars by around 1913, Anderson never profited from the invention.

Her inspiration came on a winter day in 1902, when she was riding a streetcar on a visit to New York City. She noticed the operator could not see through the windshield. Although the trolley's front window was designed for visibility in inclement weather — it was split into parts …

Lithia Motors Inc. has purchased nine dealerships from the Keyes Automotive Group estimated to generate $1.4 billion in annual revenue as the nation's third-largest new-vehicle retailer continues to grow.

Lithia said Tuesday that it acquired nine of Keyes' 14 stores, adding to its presence in Southern California and providing entry into the Phoenix market. The acquisition closed Nov. 2. Terms were not disclosed.

It's one of the industry's largest transactions in recent years based on dealership revenue. Keyes is ranked No. 20 on Automotive News' list of the top 150 dealership groups based in the U.S., retailing 33,233 new vehicles in 2019 and generating more than $2 billion in revenue.

Lithia shares rose 3.5 percent to close at $267.88 on Tuesday.

The Medford, Ore., retailer purchased from Howard Keyes and Howard Tenenbaum these stores: Keyes European/Mercedes-Benz, Keyes Audi, Keyes Mission Hills Hyundai, Keyes Hyundai of Van Nuys, Keyes Lexus, K…