Trade News

Editor’s note: A previous version of this story misstated the head of the search committee. It was steered by NADA Vice Chairman Paul Walser.

The National Automobile Dealers Association has named COO Mike Stanton as its next chief executive.

Stanton, 52, will start his new duties Jan. 1, the group said Tuesday.

The announcement follows a roughly five-month search for a successor to NADA CEO Peter Welch, who is retiring at the end of the year. The search committee was steered by NADA Vice Chairman Paul Walser. The association received at least 100 applicants, a person familiar with the matter told Automotive News.

Stanton, who became COO in 2018, started at NADA in May 2000 as national sales manager for the NADA Used Car Guide. In 2002, he became executive director of industry affairs, working in that role until 2006. He later was the guide's COO until joining J.D. Power's Vehicle Valuation Practice as general manager, following Power's acquisition…

Toyota AI Ventures, the Japanese automaker’s early-stage venture capital fund, has invested in YPC Technologies, a robotic kitchen startup based in Montreal.

The total amount of the investment wasn’t disclosed by either company but it’s part of a $1.8-million (all figures in USD) seed round that YPC announced Tuesday.

The venture capital firm said at CES in January that it would award funding ranging from $500,000 to $2 million to early-stage startups in what it's calling a worldwide "call for innovation” focused on smart, connected cities.

The global call for innovation focused on attracting and investing in early-stage startups that are building solutions for smart and connected cities in the areas of artificial intelligence, robotics, autonomy, mobility, cloud or data. 

YPC Technologies said it is developing “a new era of kitchen automation” by building a robot that can prepare thousands of recipes, using fresh ingredie…

Volkswagen Group's proposed $3.7 billion bid to acquire the assets of Navistar International could eventually have interesting implications for SUV and pickup fans — as well as dealers.

The International brand didn't always just make semitrucks, school buses other large industrial work vehicles. It was an SUV pioneer that had the misfortune of exiting the consumer market just before utility vehicle sales exploded in the early 1980s.

The International Harvester Scout, manufactured from 1961 to 1980, was a two-door, soft-top SUV that rivaled the Jeep Wrangler and its spiritual ancestors, the Land Rover Series I and Series II, (precursor to the Defender) and the original soft-top, two-door 1966-75 Ford Bronco. The International Harvester Travelall, built from 1953 to 1975, was a big, beefy, high-riding, four-door, V-8, four-wheel-drive SUV designed for off-road family excursions long before that was a cool pursuit.

And International Harvester brand pickups…

DETROIT — General Motors on Tuesday said it will spend $2 billion to renovate its assembly plant in Spring Hill, Tenn., for electric vehicle production, starting with the Cadillac Lyriq in 2022.

GM also announced more than $150 million in investments in five Michigan plants related to production of the GMC Acadia, heavy-duty pickups, 10-speed transmissions and autonomous test vehicles.

Shares in GM closed Tuesday's trading up 6.8 percent to $35.60.

Spring Hill will become GM's third EV plant. It will continue building the gasoline-powered Cadillac XT5 and XT6, but production of the Acadia will move to Lansing, Mich.

The $2 billion investment will expand the Tennessee plant's paint and body shops and comprehensive upgrades for general assembly, such as new machines, conveyors, controls and tooling. The renovation will begin immediately, GM said. Spring Hill is GM's largest plant in North America.

GM's Lansing Delta Township plant will get $1…

TOKYO – Genesis unveiled a midcycle update of the G70 compact sedan that adds powertrain tweaks, such as a new built-in drift mode, on top of fresh styling in the front and rear.

The face-lifted G70 carries over the three engines it offers worldwide, a turbocharged 2.0-liter four-banger, a twin-turbo 3.3-liter V-6 and a 2.2-liter turbo diesel.

But all models get a new Sports+ drive mode that pips performance, the company said in an Oct. 20 release after debuting the car for the South Korean home market.

Meanwhile the 3.3-liter V-6 Sports package is equipped with a variable exhaust valve system, for a throatier exhaust signature, and a new dynamic all-wheel-drive system that has a drifting mode.

On the outside, the restyling imbues the Genesis brand’s best-selling nameplate with a massive crest grille and the marque’s signature two-lined quad lamps up front.

Designers rounded out the new look with quad lamp taillights.

The new G70 als…

DETROIT -- General Motors is expected to announce on Tuesday significant investments to expand production of electric vehicles at a factory in Spring Hill, Tenn., and potentially other sites.

GM said in a statement Monday that it planned to make a "major U.S. manufacturing investment announcement" on Tuesday. The Detroit News reported that the automaker planned to begin building the Cadillac Lyriq electric crossover at its Spring Hill, Tenn., plant. AutoForecast Solutions, which tracks industry production plans, said it expects the Lyriq to go into production in late 2022.

GM could move production of vehicles to other plants, resulting in new investments in other locations. AutoForecast Solutions said it expects some electric vehicle production will also be announced for a factory in Mexico.

The automaker's plans for investing in U.S. factories come with two weeks left in the U.S. presidential election campaign. U.S. President Donald Trump and Democratic…

Mercedes will have a shiny new bauble for America's 1-percenters to park in their driveways for Christmas — a Mercedes Maybach SUV.

In early December, Mercedes-Benz will enter the rarefied world of ultraluxe SUVs with the most expensive passenger vehicle made in America.

The 2021 Maybach GLS 600 4MATIC starts at $161,550, including shipping. Fully loaded, the SUV tops out at nearly $200,000.

The SUV, based on the redesigned third-generation GLS platform, will be manufactured at Mercedes' factory in Vance, Ala.

The tony SUV will compete with the Rolls-Royce Cullinan and Bentley Bentayga for the attention — and wallets — of shoppers in that exclusive segment.

Ultraluxury SUVs, which often share platforms with much less expensive vehicles, are cash cows for automakers. The global market for ultraluxury SUVs should grow from around 7,500 in 2018 to more than 20,000 by 2023, according to AutoForecast Solutions. About 75 percent of these vehicle…

Editor's note: All currency figures in this story have been translated from Canadian dollars to U.S. dollars at current exchange rates.

Fiat Chrysler Automobiles workers represented by Unifor ratified a new three-year contract that includes up to $1.2 billion in planned investments in Canada, the union said Monday.

Negotiations with General Motors Co. will kick off in Toronto on Thursday, according to GM and Unifor. Unifor President Jerry Dias said a strike deadline was set for Nov. 5, but a spokeswoman for GM Canada said a deadline had yet to be "officially confirmed."

The union said 78 percent of FCA voting members cast a vote in favor of the agreement during virtual ratification voting that ran from Sunday through Monday morning.

“Workers who have feared plant closures and job losses in recent years can now look forward to a bright future with good jobs for years to come,” Dias said in a statement.

In a statement, FCA said the contract d…

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.

The CEO of Harbour Results shares insight on the consulting firm's annual productivity study for the North American auto industry and offers advice on how Tier 2 and Tier 3 suppliers can withstand the impacts of the pandemic.

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