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Tesla cuts prices across its lineup after missing sales targets. A majority of U.S. Lincoln dealers sign up to sell EVs. Toyota looks to convert old models to achieve its zero-emission goals. Plus, a conversation about how customers win and profits rise when dealership sales and service departments work together.

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Carvana Co. will lay off more workers and take other measures such as reduced work hours as the used-car retailer contends with weak sales, The Wall Street Journal reported on Friday.

The company was letting open positions go unfilled and several operations teams were working fewer than 30 hours a week or four-day work weeks, the WSJ reported, citing current and former employees as well as internal emails.

Carvana, best known for its automated car vending machines, did not immediately respond to a Reuters' request for comment.

The company's shares were down nearly 9 percent in premarket trade on Friday, a day after surging about 40 percent amid interest from retail investors.

Carvana let about 4,000 employees go in 2022 as it struggled to deal with the debt that piled up as it acquired cars at elevated costs.

The demand for used cars has fallen over the past year as consumers opt for alternative means to commute in an attempt to trim expens…

A Nevada lithium mine that would be only the second in the U.S. is getting backing from the Biden administration as it seeks to boost the domestic supply of the critical mineral needed to make electric vehicle batteries.

The Energy Department issued a conditional commitment for up to $700 million for Ioneer's Rhyolite Ridge Lithium-Boron Project, a prospective supplier to Ford Motor Co. and Toyota Motor Corp. that could produce enough lithium for 370,000 EVs a year.  Project partners include mining and metals processing group Sibanye Stillwater Ltd.

The funding, being made through the department’s Advanced Technology Vehicles Manufacturing Loan Program, comes as the Biden administration seeks to create a domestic battery supply chain amid a broader goal of half of vehicles sold in the U.S. by the end of the decade be emissions-free.

Demand for lithium, which also is used for grid storage and weapons, is projected to exceed current production by 2030…

Used-vehicle sales in 2022 tumbled to their lowest numbers in nearly a decade, and used volume is poised to fall further this year if volatile economic conditions and consumers' resulting affordability concerns continue to hamper the market.

The 2022 volume drop — a turnabout from a record 2021 — occurred even as wholesale used-vehicle prices were sliding for most of last year, according to data from Cox Automotive auction unit Manheim. And despite a slight recovery in those prices in December, Cox forecasters say wholesale prices are likely to continue to decline in 2023.

The number of used cars and trucks sold in the U.S. decreased nearly 11 percent to an estimated 36.2 million vehicles in 2022, Cox said Thursday. That is the lowest that figure has gone since 2013 when about 35.8 million were sold. Used-vehicle sales on the retail side fell, too, dropping nearly 10 percent to an estimated 19.1 million vehicles last year, the lowest retail per…

West Herr Automotive Group Inc. on Monday bought four western New York dealerships selling BMW, Mini, Volkswagen and Audi vehicles from Towne Auto Group, Charles Hardy, director of variable operations for West Herr, told Automotive News.

Towne BMW and Towne Mini, of Williamsville, N.Y., were renamed BMW of Buffalo and Mini of Buffalo, respectively. The former Towne Volkswagen, now West Herr Volkswagen, and Audi Buffalo, retaining its name, are in nearby Bowmansville, N.Y. The cities are east of Buffalo.

The Audi, Mini and Volkswagen brands are first-timers for the West Herr portfolio, the company said. West Herr said it plans in the future to relocate the Mini dealership to a building adjacent to its Acura store in Williamsville.

The group said it expects the four acquired dealerships will sell about 3,800 new- and used-vehicles combined a year.

"We are excited and look forward to carrying on the quality treatment of customers and employees that…

Federal policy must prioritize auto workers' job quality and fair compensation for a successful transition to electrification, panelists said at the Federal Reserve Bank of Chicago's 29th annual automotive insights symposium Thursday.

"The green transition will not be possible… without strong and sustained political support," said Adam Hersh, senior economist at the Economic Policy Institute, said at the event in Detroit. "That's why it's so important that we're focusing on the quality and the quantity of the jobs that can be created."

Employers know the cost of raising wages, but they don't often measure the benefits of raising wages, said Susan Helper, senior advisor for industrial strategy in the White House office of management and budget.

"There's a real reason why you want to have a skilled workforce," she said. "In workforce, like other commodities, you get what you pay for."

Electric vehicle sales made up 5.9 percent of new light-vehicle s…

Tesla Inc. slashed prices across its four-vehicle lineup late Thursday after missing its delivery forecast for last year.On its website, Tesla listed its top-selling Model Y Long Range with all-wheel-drive — its entry version in the U.S. market — at $52,990 before shipping.

That's a reduction of $13,000, or 20 percent, over the crossover's previous price.

The price reduction put the Model Y under the $55,000 price cap for tax incentives under a rule change that took effect Jan. 1. Previously, the crossover started at $65,990. Tesla charges $1,390 for shipping and an order fee of $250.

Tesla also reduced prices significantly for the Model 3 compact sedan, Model S midsize sedan and Model X midsize crossover after coming up short of its own expectations for global 2022 deliveries.

Tesla delivered more than 1.31 million cars for the year, falling short of its 50 percent growth forecast. Vehicle deliveries rose 40 percent last year while production g…

BRUSSELS -- Mazda has revived its rotary engine a decade after discontinuing the cult powerplant by adapting it for the electrification era.

The MX-30 e-Skyactiv R-EV plug-in hybrid, which debuted at the auto show here Friday, uses a gasoline rotary engine as a power generator that along with a 17.8-kilowatt-hour lithium-ion battery helps give the small crossover an electric-only range of 85 km (53 miles).

Mazda said that amount of range should allow customers to use the car in electric mode for a most of their daily driving needs. The 85 km target was decided on by Mazda after gathering data on customers’ real-life range needs.

The MX-30 e-Skyactiv R-EV’s rollout makes good on a promise by Mazda to resurrect the rotary engine after retiring the technology in 2012 when it discontinued the RX-8 sports car.

The European deliveries of the MX-30 E-Skyactiv R-EV are expected to start in April at a base price of 38,150 euros in Italy. The car is also …

<!--*/ */ /*-->*/ Automotive innovation takes its time

LAS VEGAS — Technology that could fundamentally reshape transportation was easy to find last week at CES.

There were sensors that allowed autonomous vehicles to travel at speeds approaching 190 mph, breakthrough battery advances that could enhance the transition to electric vehicles and immersive cabin technology that alters the passenger experience in cars.

How such technology moves from the show floor into the real world remains a vexing proposition. Innovation, particularly in the automotive sector, can be plodding.

It's an age-old problem scrutinized with renewed vigor during CES. Pressing concerns over greenhouse gas emissions, energy security and geopolitical stability, and economic uncertainty have automakers seeking technology that can deliver both breakthroughs and cost reductions.

But those technologies must pass through laborious and thorough development, verificatio…

ANN ARBOR, Mich. -- Vice President Kamala Harris highlighted investments in U.S. auto production and manufacturing in a visit to Michigan for a federal environmental policy talk.

Electric vehicle and battery production is critical to “building a clean energy economy," Harris said.Energy Secretary Jennifer Granholm joined Harris in Ann Arbor for the Thursday conversation about climate policy.

As an example of clean energy economic development, Harris highlighted electric school buses, meant to replace diesel-powered vehicles.

“The great thing about it is we are making [the school buses] right here,” Harris said. Alongside this production, she said, is “the creation of jobs.”

Electric school buses have become a notable part of the EV conversation as over 250 school districts across the nation have committed to test electric buses, and manufacturers have invested in the bolstering of production, such as the Lion Electric EV bus and truck product…

An American automaker is on top of U.S. luxury sales for the first time in nearly a quarter century. EVs made in the U.S. rule the market, and the trend is accelerating. Plus, Automotive News reporter Michael Martinez talks about the departure of Ford's top labor negotiator and what it means heading into this year's contract negotiations with the UAW and Unifor.

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Can't wait to hear the next episode of "Daily Drive"? Subscribe through a podcast app to receive episodes days in advance. If you don't have a podcast app already, here are some options. 

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Automakers traded market share for profit last year as sales volumes plumbed depths not seen in more than a decade and new-vehicle prices set a record in December.

But the new year could flip that script as inventories climb and inflation bites.

Annual U.S. light-vehicle sales ended at 13.865 million, down 8 percent from 2021, according to the Automotive News Research & Data Center. That's a significant decline from the 17.104 million sales in 2019 before COVID hit and microchip shortages jammed assembly lines.

But assembly lines are now ramping back up and dealer lots are beginning to fill. Inventories topped 1.8 million new vehicles in December for the first time since May, according to data compiled by Cox Automotive and the Automotive News Research & Data Center.

Cox put its latest industrywide inventory estimate at 1,803,717 vehicles, representing a 58-day supply based on the selling rate from the most recent 30-day period. Tradition…