Trade News

Florida Governor Ron DeSantis will announce his 2024 presidential campaign in a Twitter Spaces livestream with Elon Musk on Wednesday evening, according to people familiar with his plans.

DeSantis will speak with the Tesla Inc. CEO at 6 p.m. ET and the campaign will release a launch video. The decision to launch his campaign alongside Musk would seem to underscore how DeSantis plans to orient himself around the culture war issues that have defined his tenure as governor.

Musk has drawn criticism for his handling of Twitter since acquiring the social media giant, including reducing content moderation and reinstating accounts — including Trump’s — that had been previously banned.

Musk said at the Wall Street Journal’s CEO Council Summit Tuesday that DeSantis will have “quite an announcement to make” during the Twitter Spaces session. He added that he doesn’t plan to endorse any particular candidate at this time.

Still, Musk has cultivated ties wit…

The state of California has asked the Biden administration to approve its plan to require all new vehicles sold in the state by 2035 to be either electric or plug-in electric hybrids, according to a letter seen by Reuters.

The California Air Resources Board, which approved the plan in August, asked the Environmental Protection Agency on Monday to approve a waiver under the Clean Air Act to implement its new rules that set yearly rising zero-emission vehicle rules starting in 2026 and would end new gasoline-only powered vehicle sales in the state by 2035.

"These vehicles will permanently displace emissions from conventional vehicles," wrote CARB Executive Officer Steven Cliff, adding that motor vehicles and other mobile sources are the greatest producers of emissions in California.

The Biden administration has repeatedly refused to endorse setting a date to phase out the sale of gasoline-only vehicles.

EPA spokesperson Tim Carroll said "as with a…

The redesigned Toyota Tacoma is the latest model to enter the midsize pickup cage match that keeps intensifying, as the Detroit 3 looks to cut into Toyota’s dominance in the segment. UAW workers smack down a tentative agreement with Clarios in Ohio. And Ford sees internal combustion vehicle sales and profits rising through at least 2025.

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Reconditioning is a complex process. Between inspections, estimates, approvals, repair orders, dispatching, coordinating with vendors… there’s endless information and countless people to manage.

When your team does not have a good understanding of what is going on throughout the recon process, they can’t work together to recondition efficiently.

No matter how many roles are involved in your reconditioning process, there should be one common responsibility and goal – effective communication.

In this eBook, learn how to develop good communication habits to:

- Connect your recon process – internally and externally.- Give, receive, and access insight on every step.- Drive overall efficiency.

A publicly traded auto retailer sold a dealership in Texas in April, while three other regional groups made first- and second-quarter acquisitions.

Here's a look at the deals involving luxury, domestic and import stores in Texas, Indiana, Wisconsin and Colorado.

Two transactions involved an auto retailer ranked on Automotive News' list of the top 150 dealership groups.

Sonic sells Maserati-Alfa Romeo store

Chip Johnson and Brady Bishop, partners in a dealership near Kansas City, Mo., bought a Maserati-Alfa Romeo store from Sonic Automotive Inc. last month.

On April 3, Johnson and Bishop bought Momentum Maserati-Alfa Romeo in Hurst, Texas, northeast of Fort Worth, Johnson told Automotive News.

The dealership was renamed Bishop Maserati-Alfa Romeo of Hurst.

"These are some higher-margin brands," Johnson told Automotive News. "They had a solid used-car business."

Bill Scrivner, CEO of Pinnacle Mergers & Acquisitions, …

The U.S. Joint Office of Energy and Transportation will bring together automakers, electric vehicle charging companies, researchers and other stakeholders to create solutions to improve the EV charging experience.

The National Charging Experience Consortium, led by Department of Energy national laboratories, will develop best practices and work to solve charging pain points over the next two years. Participating research labs will publish the consortium's findings and make recommendations.

The group has 29 members and counting. Automakers General Motors, Ford Motor Co., Stellantis, BMW North America, Tesla and Rivian Automotive; charging networks; charger manufacturers; consulting firms; and electric utilities have joined so far.

Charger reliability is a major pain point as the Biden administration aims to have a nationwide network of 500,000 public charging stations by the end of the decade. One in five charging attempts in the U.S. failed last year, a…

Volkswagen Group of America CEO Pablo Di Si has officially been on the job only since September, when his predecessor, Scott Keogh, moved over to develop Scout Motors. The Argentinian previously worked in the U.S. for VW, but had been running the brand's operations in South America when he got the call to move back here.

The 53-year-old executive sees great growth potential for VW in the U.S., and believes that its electric vehicles will help the company increase its market share in what is becoming one of the German automaker's most important markets. Di Si believes it is important that VW's North American region carve out its own identity and make its own market-based decisions. He's already taking steps to speed up VW's time to market and make sure that the products sold in North America match consumer interests here.

Di Si spoke with Staff Reporter Larry P. Vellequette this month. Here are edited excerpts.

Q: You took over from Scott Keogh in Septemb…

Ford Motor Co. will keep AM radio in all 2024 Ford and Lincoln models and restore it on two electric vehicles via a software update, according to CEO Jim Farley.

In a tweet, Farley said the decision was made "after speaking with policy leaders about the importance of AM broadcast radio as a part of the emergency alert system." The company removed AM radio from the Mustang Mach-E and F-150 Lightning and planned to discontinue it on all products moving forward.

Farley said the company would look for other ways to deliver emergency alerts in the future.

"Customers can currently listen to AM radio content in a variety of ways in our vehicles — including via streaming — and we will continue to innovate to deliver even better in-vehicle entertainment and emergency notification options in the future." he said.

Ford's reversal comes after a bipartisan group of lawmakers last week introduced legislation to bar automakers from …

BMW will expand the 4 Series and 7 Series lineups with electrified variants for the 2024 model year.

The German luxury automaker is ramping up its portfolio of electric models as it takes the fight to Tesla and races to meet tightening emissions regulations in major markets.

By 2025, BMW says, one-fourth of its global sales will be all-electric, increasing to one-third by 2026. Last year, BMW sold 15,584 fully electric vehicles in the U.S., accounting for 4.7 percent of total sales.

In the third quarter, BMW will introduce an all-wheel-drive variant of the i4 battery-powered compact sedan. The 2024 i4 xDrive40 will start at $62,595 including shipping.

Dual electric motors will deliver 396 hp and propel the sedan from 0 to 60 mph in 4.9 seconds. The i4 xDrive40 has an estimated range of up to 307 miles on a single charge.

Also, in the fall, BMW will offer two new electrified variants of the seventh-generatio…

Workers at a Clarios vehicle battery plant near Toledo have reached a tentative contract agreement with the supplier. CarMax tops Automotive News' debut list of retailers by used-vehicle-only sales. Plus, Smart Growth America's Beth Osborne says U.S. roads have become “dangerous by design.”

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The swoopy Mercedes-AMG SL roadster is getting a Formula 1-inspired entry variant in the U.S. with a new engine and rear-wheel drive.

The 2023 Mercedes-AMG SL 43 arrives in U.S. dealerships this summer and starts at $111,050, including shipping.

An AMG-enhanced 2.0-liter four-cylinder turbocharged engine powers the open-top 2+2 seater, delivering 375 hp and a 0-to-60 mph time of 4.8 seconds.

An entry-level, rear-wheel-drive SL could broaden the reach of the iconic but low-volume nameplate. But it remains to be seen if SL buyers, willing to pay a hefty premium for V-8 performance, will warm to four cylinders.

The SL is a flagship model in North America, AutoPacific President Ed Kim said. Whether the new SL moves the needle on sales, Kim said, "comes down to performance and sound."

To deliver performance, the SL 43 leans on Formula 1 racing-derived technology. The M139 engine features an electric exhaust gas …

DETROIT — Ford Motor Co. expects sales and profit margins from its internal combustion engine vehicles to grow for at least the next two years before the industrywide transition to electric vehicles starts to shrink that business.

Executives on Monday laid out their outlook for the company's gasoline-powered business, known as Ford Blue, as well as its Model e EV unit and Ford Pro commercial unit, as part of a capital markets day event for investors and the media. Ford also reaffirmed its 2023 full-year guidance of $9 billion to $11 billion in adjusted earnings before interest and taxes.

Kumar Galhotra, head of Ford Blue, said profit margins from combustion vehicles will grow from 7.2 percent today to at least 10 percent by 2026. Those growth plans are driven by the company's focus on profitable vehicle segments and high-margin, low-cost derivatives.

"Trucks, off-road and performance segments have a long runway," Galhotra said.

Still, he said For…