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Wheel supplier Superior Industries International on Thursday reported a first-quarter net loss of $4 million.

That's compared with net income of $10 million during the same quarter in 2022. The loss was caused by industry production levels that are still below pre-pandemic levels, as well as struggling European aftermarkets, executives said during a call Thursday with analysts.

The company's revenue fell 4.8 percent to $381 million. With the cost of aluminum significantly lower than a year ago, value-added sales increased by 7 percent despite lower unit shipments and revenue, according to CFO Tim Trenary. Still, customers opted for more expensive, larger wheels and the company's content-per-wheel costs increased by 16 percent.

"We enjoyed considerable success in recovering cost inflation in 2022 and pivoted late last year to negotiating appropriate price increases to offset the cost of inflation, the cost of OEM production schedule volatility and lower f…

The UAW said workers at a Yanfeng auto parts plant in Riverside, Mo., a key General Motors supplier, voted to join the union.

Of the roughly 430 workers who were eligible to vote in the election, 311 voted yes and 26 voted no, the UAW said in a statement Thursday.

Yanfeng, based in China, is a supplier of smart products, interiors, seating, electronics and other products with more than 240 operations worldwide. The company's North American business is headquartered in suburban Detroit.

The Riverside facility produces components for General Motors' Fairfax Assembly Plant in Kansas City. It is the sixth Yanfeng operation to organize with the UAW and the Riverside workers join more than 1,000 other Yanfeng-employed UAW members at facilities in Michigan, Canada and Alabama.

The UAW said workers at the plant have faced low pay, a lack of seniority rights and understaffed shifts. Additionally, the UAW said workers of color have faced discrimination from…

LOS ANGELES — Porsche has put the combustion engine Cayenne on the path to retirement, but first, the automaker is giving the workhorse midsize crossover a midcycle freshening that feels more like a redesign.

To elevate the driving experience, Porsche has dialed up engine output across the Cayenne lineup.

While the industry steers away from thirsty V-8 engines to meet ever-tightening emissions regulations, Porsche is returning the big engine to the Cayenne S for the U.S. after ditching it nearly a decade ago.

The 2024 Cayenne S swaps its V-6 for a V-8 that makes an additional 34 hp and delivers a 0-to-60-mph time of 4.4 seconds. Porsche mechanically adapted the eight-cylinder to make it "at least as fuel-efficient" as the V-6, said Mike DePetro, product manager for Porsche Cars North America.

The V-8 also helps differentiate the S trim from the base Cayenne.

"The V-8 is a very important American need and want in an automobile," he told Aut…

BorgWarner Inc. executives are expecting a boom in the electrification business but not before e-products put some strain on its profitability.

The supplier saw first-quarter sales of $4.2 billion, up 8 percent from a year ago, and net earnings of $230 million, about flat with last year, according to its earnings report Thursday.

While the company increased its sales and earnings projections for the full year, its first-quarter profit results came in just shy of Wall Street expectations, due to inflated costs, high R&D spending on electrification and sagging sales in China, which is also hurting other suppliers with high exposure to the Far East.

"We outperformed the market both in Europe and North America," CEO Frederic Lissalde said on a call with investment analysts. "As we expected going into the quarter, our margin performance was negatively impacted by our planned e-R&D investment, net inflationary costs and the impact of low production i…

Toyota has confirmed that it will reveal the redesigned 2024 Tacoma pickup on May 19.

The top-selling midsize pickup is the third of the Japanese brand's four body-on-frame vehicles sold in the U.S. to move onto Toyota Motor Corp.'s global F1 platform. They are known internally as the Four Brothers: the Tundra, Sequoia, Tacoma and 4Runner.

Toyota has released a series of teaser images in recent weeks, giving hints about the fourth-generation Tacoma in advance of the reveal. Included in those is confirmation that it will have an optional hybrid i-Force Max powertrain, as does the Tundra full-size pickup and Sequoia large SUV, tuned specifically to provide more power and towing capacity instead of just added fuel efficiency. The redesign is expected to be powered by a turbocharged 2.4-liter inline four-cylinder engine as well as the hybridized optional powertrain. It will be available with an optional manual transmission.

An image of the upcoming Toyota …

Volkswagen Group says first-quarter revenue was up considerably. You might see way more of Waymo soon. The Tesla Semi will make its debut this year. Plus, Chevrolet marketing chief Steve Majoros talks about why the brand is so bullish on the new Trax and the subcompact crossover segment.

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Come learn about Automotive News' PACEpilot program at a free information session on May 16 in Detroit with program judges, a recent honoree and Executive Editor Jamie Butters.

PACEpilot recognizes pre-commercial Innovations to Watch in the automotive and future mobility space. These represent not only products, but also software/IT systems and other processes that have the potential to revolutionize an automaker's business or products.

The session is scheduled for 3-5 p.m. at the Detroit Smart Parking Lab and will cover how to apply for the program, what makes a good application and location resources for startups looking for partners.

Butters is scheduled to be joined by:

Jeremy McCool, CEO of HEVO, a 2022 PACEpilot honoree

Nancy Philippart, director of judging for PACEpilot and general partner and co-founder of BELLE Michigan

Jessica Robinson, PACEpilot judge and co-founder and partner of Assembly Ventures

Kevin Mull, co-fo…

Cadillac's lineup of electric vehicles appears set to expand again.

Photographers have captured a camouflaged vehicle, believed to be a new small Cadillac EV similar in size to the compact XT4, while road testing. It appears to slot below the Cadillac Lyriq midsize electric crossover in size.

The vehicle looks to share design elements with the Lyriq, including front and rear lighting features. Photographers said they observed the upper rear vertical lights acting as turn signals.

There also are similarities to the gasoline-powered XT4, which will be freshened for 2024. Cadillac has said the updated XT4 takes tech cues from the Lyriq, the brand's first EV, which will be joined by the ultraluxury Celestiq electric sedan in 2023.

A Cadillac spokesperson declined to comment on future products, but said in a statement that "the XT4 continues to be a top-selling vehicle in its segment and remains an important part of Cadillac…

Ford reporter Michael Martinez digs into the automaker's sales and earnings so far in 2023 and challenges ahead. Honda sales surge. And the former CEO of Audi is ready to confess in the VW diesel emissions scandal.

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U.S. Senator Marcio Rubio on Wednesday asked the Biden administration to investigate Ford Motor Co.'s plan to partner with PT Vale Indonesia and China's Zhejiang Huayou Cobalt in a $4.5 billion nickel processing plant in Indonesia.

Rubio, who is the top Republican on the Senate Intelligence Committee, said the venture threatens U.S. national security and asked the Justice, State, Treasury, Commerce, Homeland Security departments as well as the Securities and Exchange Commission to investigate the plan.

Ford had no immediate comment.

Rubio's letter to Secretary of State Antony Blinken cited Huayou calling the project "one of the flagship projects under the Belt and Road Initiative" when Ford announced the deal in March.

Rubio said the Chinese Belt and Road Initiative is one of the primary mechanisms China "uses to spread its influence around the world and gain control of critical infrastructure and natural resources."

The investment is Ford…

WASHINGTON - The Federal Reserve on Wednesday raised interest rates by a quarter of a percentage point and signaled it may pause further increases, giving officials time to assess the fallout from recent bank failures, wait on the resolution of a political standoff over the U.S. debt ceiling, and monitor the course of inflation.

The unanimous decision lifted the U.S. central bank's benchmark overnight interest rate to the 5-5.25 percent range, the Fed's tenth consecutive increase since March 2022.

The Federal Reserve’s actions increase the likelihood of higher borrowing costs for new and used vehicles and other forms of credit. Rising interest rates along with higher sticker prices have dealers concerned.

Franchised dealers surveyed in January and February by Cox Automotive for its first-quarter Dealer Sentiment Index were most likely to cite interest rates as a factor holding back their business.

The Fed's accompanying policy statement dropped …