Trade News

Used-vehicle sales for Sonic Automotive Inc. so far in June have been higher than a year ago for the retailer's franchised and EchoPark locations.

The rise in used-vehicle sales is part of a steady increase in overall operations since the onset of the coronavirus pandemic in March, the nation's sixth-largest new-vehicle retailer said Tuesday in providing an updated outlook for the second quarter and the rest of the year. It follows a May update that included better-than-expected sales.

Used-vehicle sales volumes were up 7 percent on an annual basis at Sonic's franchised stores on a same-store basis month-to-date in June, compared with an 8 percent decline in May and a 32 percent drop in April. The company expects franchised used-vehicle sales volume to be in line with its original forecast in July, and to be slightly above that forecast for August through December.

EchoPark same-store used-vehicle sales volume was up 18 percent month-to-date in June, com…

FRANKFURT -- Volkswagen Group will pay a 48 percent premium to buy out the minority shareholders of premium division Audi, Audi said on Tuesday.

VW Group, which already holds 99.64 percent of Audi, announced the squeeze-out plans in February.

"Volkswagen AG announced and specified that it has set the cash settlement to be paid to the minority shareholders in return for the transfer of their shares at 1,551.53 euros per Audi AG share," the automaker said.

This compares with a share price of 1,050 euros a piece on Tuesday and amounts to a purchase price of 237 million euros ($267 million) for the 152,749 outstanding Audi shares, according to Refinitiv data.

The transfer is expected to be passed at Audi's next annual general meeting, which the automaker said should take place in July or August.

Nissan's bestselling vehicle, the compact Rogue crossover, has been redesigned for the 2021 model year. It's a critical redesign for the automaker. The 2021 Rogue is the cornerstone of a product offensive that Nissan officials say is critical to the brand's rebound in the U.S.

The latest Rogue offers more usable cabin space in a similar footprint, and the dashboard is available with three displays — a 10.8-inch head-up display, a 12.3-inch digital instrument cluster and a "floating" 9-inch touch screen. All Rogue models feature a 2.5-liter inline four-cylinder engine that delivers 181 hp, an increase of 11 hp. The crossover received an updated suspension and steering system to improve driving performance and reduce cabin noise.

Here's a roundup of initial Rogue reviews and previews from the automotive media.

"Let's talk about that design for a minute. Despite the split headlights and V-Motion grille, the Rogue isn't an aggressive piece of design. Nissan…

Joining the Cadillac lineup this year is the 2020 Cadillac CT4-V. The subcompact sedan is equipped with a 2.7-liter turbo engine rated at 325 hp and 381 pound-feet of torque. The CT4-V features "a unique three-step sliding camshaft" that helps optimize performance at all speeds, a 10-speed automatic transmission, magnetic ride control and a host of performance parts and equipment. We've collected a sampling of early CT4-V reviews from the automotive media.

"We only got to drive the CT4-V this go around, but on the road, we found it strikes a near-perfect balance between luxury and performance. Its eagerness and athleticism never encroach on its luxury mission until you ask them to, whether you dial in your own drive mode profile — Cadillac calls it "My Mode" — or you simply reach for the one-click V-Mode option on the steering wheel.

"When you're on the highway, the CT4-V is composed and buttoned-down without being in-your-face. Its adaptive cruise control (pa…

The reengineered 2021 Lexus IS sport sedan will offer improved handling and responsiveness with an upgraded suspension, plus newly enhanced safety and infotainment functions. However, the premium brand's sporty compact will stay on its current third-generation platform — which dates from the 2014 model and was last freshened in 2017 — instead of being redesigned onto the automaker's global architecture.

In addition to cost savings, keeping the IS on its current platform allowed Lexus engineers to focus on improvements to the sedan's ride and handling, as well as make styling and interior refinements. The new IS is just over an inch longer and wider than the outgoing model, with a slight increase in height as well. It will now ride on standard 18-inch wheels, with optional 19-inch wheels available.

Sales of the IS in the United States were down 37 percent through May to 4,313, with the decline exacerbated by the COVID-19 pandemic. However, in 2019, its U.S. sal…

Paul LaRochelle is partner at Sheehy Lexus of Annapolis in Maryland and chairman of the Lexus National Dealer Advisory Council. In this video Q&A with Automotive News publisher Jason Stein, LaRochelle discusses how the all-new Lexus IS elevates the compact luxury sports car segment, attracts younger and more diverse buyers to the showroom, and where it fits into the current Lexus lineup. LaRochelle also outlines how his dealership has handled the shift to online retailing amid the COVID-19 pandemic.

Read the transcript of the interview

Jason Hi there, I'm Jason Stein, publisher of Automotive News, and I'm here with Lexus Dealer Council Chairman Paul La Rochelle, partner at Sheehy Lexus of Annapolis in Maryland, part of a 29 store group, Sheehy Auto Stores. It is a pleasure to see you, Paul.

Paul You as well.

Jason Can you start off by just explaining maybe the state of business today? How are things faring in Maryland right now, and wha…

DETROIT -- Even if it's decades before electric vehicles become the dominant form of transportation industrywide, General Motors will continue to take the lead, CEO Mary Barra told reporters Monday.

The company remains fully committed to its EV strategy despite interruptions to product programs and factory schedules, and the economic slowdown caused by the coronavirus pandemic, Barra said during a webcast media briefing organized by the Automotive Press Association.

Barra told Bloomberg News last week that it could be decades before EVs become the primary mode of transportation, but she added Monday that GM will drive the growth of EV production and sales.

Barra is confident that EV sales will gain traction eventually, and especially at GM, "but if you look at the whole portfolio [industrywide] changing over, that tail could be a bit longer," she said.

The Chevrolet Bolt is GM's only battery electric option today. But after the automaker previewe…

Suzana Cizmic chased her 'dreams' and is now a commercial plant manager for supplier Robert Bosch. Cizmic says it is crucial for women in the auto sector to exude confidence, share experiences with each other and mentor young females all while challenging the industry to avoid 'blind' spots

Toyota's U.S. dealers are coming off their best weekend since the coronavirus pandemic hit in late March in a continuing display that buyers are once again ready to purchase new vehicles, executives said Monday.

But while retail demand is still down about 15 percent from the same point a year ago, the industry is likely to go through several "lumpy" months this summer as automakers continue to ramp up plants after extended shutdowns and reconfigure output in the face of anemic fleet demand, said Bob Carter, head of sales for Toyota Motor North America.

Speaking to reporters on a conference call, Carter said the automaker is seeing several signs that retail demand is strong, including a more than 50 percent jump in quality Internet leads from the automaker's Tier One Website.

"We're seeing the retail consumer be very, very resilient," Carter said. "We're running about 82 to 85 percent of the same retail level that we did last year.…

Tesla Inc. is negotiating possible incentives with a Texas county that could bring a new auto assembly plant to the area near Austin, the state capital, the Austin American-Statesman reported on Monday.

Travis County Commissioners Court is scheduled to discuss terms of the deal on Tuesday, the paper reported, citing people with knowledge of the situation. A vote is expected in the coming weeks.

The paper said it was unclear whether negotiations with Travis County show that Tesla has picked the Austin region as the site for the plant, which would build the company's electric pickup truck and Model Y crossover and employ thousands of people, or if the company is also negotiating with officials in Tulsa, Okla.

Tesla officials could not immediately be reached to comment. The company's CEO, Elon Musk, has tweeted previously about the possibility of bringing a plant to Texas. Oklahoma also has been mentioned as a possible site.

Travis County offici…

CDK Global Inc. plans to promote its CFO into a newly created COO position, with oversight of the company's products, sales and customer experience.

Joe Tautges, who also is an executive vice president, will move into the COO job once a new CFO has been hired, the company said Monday.

The Hoffman Estates, Ill., dealership technology company said the COO role is intended to make its North American business more effective, including its dealership management system and customer relationship management software, other product lines and sales and customer service employees.

"Adding this critical role will help us drive further our strategy for growth and continue our commitments to delivering the best support to our customers," CEO Brian Krzanich said in a statement.

"In his more than three years at CDK, Joe has made tremendous contributions both inside and outside the finance area, which makes him the ideal leader to ass…