News

Ford Motor Co., citing inflationary pressures throughout the supply chain, said Monday it expects to end the third quarter with adjusted earnings before interest and taxes of between $1.4 billion and $1.7 billion, down from the $3 billion in adjusted earnings it posted over the same period a year ago.

The company's latest third-quarter guidance is also below the FactSet consensus analyst estimate of $2.98 billion.

The automaker, however, reaffirmed its full-year guidance of $11.5 billion to $12.5 billion in adjusted EBIT, which would be 15 to 25 percent more than it earned in 2021.

The automaker said that inflation-related supplier costs during the third-quarter will run about $1 billion higher than it originally expected.

It expects to finish the period with between 40,000 to 45,000 unfinished vehicles waiting on parts. Most of those vehicles, it said, will be high-margin trucks and utility vehicles.

Ford…

Uber Technologies Inc. said Monday a hacker affiliated with the Lapsus$ hacking group was responsible for a cyber attack that last week forced the ride-hailing company to temporarily shut several internal communications.

Uber said the attacker had not accessed any user accounts or the databases that store sensitive user information such as credit card numbers, bank account or trip details.

"The attacker accessed several internal systems, and our investigation has focused on determining whether there was any material impact," Uber said, adding that investigation was still ongoing.

The company said it was in close coordination with the FBI and the U.S. Department of Justice on the matter.

Friday's cybersecurity incident had brought down Uber's internal communication system for a while and employees were restricted to use Salesforce-owned office messaging app Slack.

Uber said the attacker logged in to a contract…

An employee at a New Orleans-area Hyundai dealership has been arrested after allegedly shooting and killing a co-worker in the store's service center.

Brian Taylor, 23, was arrested Friday, Fox 8 reported. He allegedly shot Zakary Stewart, 22, around 5:30 p.m. Friday at Hyundai Slidell in Louisiana.

Slidell Police said that the two had been "allegedly feuding for the past week."

Stewart had recently moved from Alabama and had been staying with friends in the area while working at the dealership.

In a statement to Fox 8, Stewart's family called the alleged crime "a senseless act of violence."

A spokesperson for Hyundai Motor America said in a statement to Automotive News that the automaker is cooperating with authorities.

"We are concerned by any violent incident at one of our dealerships," the spokesperson wrote in an email. "We will work with the dealer to gather more information and ensure a tho…

Porsche looks to go zero-to-$75 billion with its IPO. Stellantis’ CEO says Detroit’s pared-down auto show is actually a good thing. Ford and Hyundai chip away at Tesla’s big EV lead. And Automotive News reporter John Irwin talks about what he saw at The Battery Show in Novi, Michigan.

How do I subscribe?

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. 

iPhone / iPad

“Daily Drive” is available on the iTunes Store and through the ‘Podcast’ app pre-installed on all iOS devices. Click here to subscribe to "Daily Drive"

Android

“Daily Drive” is available on the Google Play store. Click here to subscribe to "Daily Drive"

Spotify

"Daily Drive" is available on Spotify. Click here to subscribe to "Daily Drive"

HANOVER, Germany — Daimler Trucks is migrating its battery chemistry to a formula that eliminates nickel and cobalt to improve durability and reduce competition with the passenger car business for scarce materials.

Daimler will gradually move its vehicles to lithium iron phosphate batteries it has developed in partnership with China's CATL. Iron and phosphate cost far less and are easier to mine than other battery materials.

"They are both cheap and plentiful almost everywhere and will definitely help to reduce the pressure on the battery supply chain as adoption grows," said Sam Abuelsamid, an analyst with Guidehouse Insights.

Daimler, the German parent of Freightliner and Western Star truck brands, announced the strategy as it debuted a longer-haul electric truck for the European market at IAA Transportation 2022 on Monday.

"My fear is if the entire passenger car market, not just Tesla or the high-end cars, moves to batteries, there will be a f…

SHANGHAI - Tesla is reevaluating the way it sells electric cars in China, its second-largest market, and considering closing some showrooms in flashy malls in cities like Beijing where traffic plunged during COVID restrictions, two people with knowledge of the plans said.

The shift would put more emphasis on stores in less-costly suburban locations that can also provide repairs as the company works to meet Elon Musk's goal of improving service for existing customers, many of whom have complained of long delays, they said.

As part of that push, Tesla is looking to ramp up hiring of technicians and other staff for service jobs in China, one of the people said. Tesla's China recruitment website showed more than 300 openings for service jobs as of Thursday.

Tesla said on Monday that it is still expanding its sales channels in China at a normal pace.

Musk said last week on Twitter, in response to a Tesla owner in Texas who com…

Traffic fatalities on U.S. roads declined in the second quarter, halting an almost two-year rise even as Americans are driving more.

Some 10,590 people died in car crashes from April through June, down 4.9 percent from the same period in 2021, according to estimates the National Highway Traffic Safety Administration released Monday. Fatalities had been increasing since the third quarter of 2020.

"Although it is heartening to see a projected decline in roadway deaths in recent months, the number of people dying on roads in this country remains a crisis," Ann Carlson, NHTSA's acting administrator, said in a statement. Carlson recently assumed the role after Steven Cliff stepped down to return to the California Air Resources Board.

The rate of road fatalities during the first half of the year was 1.27 per 100 million vehicle-miles traveled, NHTSA said, a slight decline even as people spent more time behind the wheel. Total U.S. driving …

Ram will step into the electric vehicle space for the first time in 2023.

The emissions-free ProMaster will start the brand's transition. The first commercial customer for the electric van will be Amazon, which will put it to work as a last-mile delivery vehicle.

The first Ram electric pickup will come in 2024.

ProMaster: The large van will get an electric variant in 2023. The 2023 ProMaster that debuted this year features a restyled front fascia and now offers three roof heights, including a new "super-high" configuration.

ProMaster City: Production for the smallest Ram van ends after the 2022 model.

2500/3500: Redesigns are not expected until around 2027.

1500: Ram will unveil its electric 1500 concept, set to go on sale in 2024, at the Los Angeles Auto Show in November. A version with a range-extending gasoline engine may arrive around the same time.

For the 2023 model, pickups equipped with the…

Alfa Romeo plans to be an all-electric brand in 2027.

Leading up to that target, the Italian marque is expanding its portfolio with the Tonale compact crossover, which will offer a plug-in hybrid powertrain, in 2023 and a smaller battery-electric crossover in 2024.

Large vehicle: Alfa Romeo CEO Jean-Philippe Imparato said a "large size vehicle" that can compete in the U.S., China and Europe is in the works. Imparato said the model could have attributes of a sedan as well as a crossover.

Stelvio: The compact crossover may move to the electrified STLA Medium platform in a redesign that could reach U.S. dealerships before the end of 2025.

Tonale: The compact crossover is expected to arrive in 2023 as both a plug-in hybrid and a conventional gasoline model. The conventional version will deliver 256 hp, and the plug-in will reach 272 hp. It's expected to have more than 30 miles of electric range.

Small crossover: Imparato said the brand plans …

Stellantis made it known in 2021 that the freshly merged company was going to make major investments to electrify its broad portfolio.

This year, it became clearer where the tens of billions of dollars are heading. Brands that were uninterested in going electric while part of the Fiat Chrysler Automobiles portfolio now have far more ambitious plans to move away from internal combustion engines.

Jeep is delivering two battery-electric utility vehicles in 2024 for the U.S. The Recon is a Wrangler-inspired trail cruiser that won't pollute the environment during off-road adventures, while the Wagoneer S is a stylish midsize crossover.

Dodge is reinventing itself for the electric transition with eco-friendly muscle. The performance brand previewed its future with the Charger Daytona SRT Concept, which delivers a growl that stands out from all the silent EVs out there today.

Ram is bringing out an electric 1500 pickup in 2024 after it launches a batte…

Dodge is going to look quite different in a few years.

The long-running Challenger and Charger muscle cars that tear up asphalt with an array of high-powered engines will roll down the line for the last time next year at Brampton Assembly in Ontario.

They'll give way to a new generation of electric performance in 2024, which the brand previewed with the Charger Daytona SRT Concept.

The upcoming Hornet, a fresh compact crossover entry, will be Dodge's first electrified model when it reaches dealerships next year. A gasoline version of the Hornet will join the lineup before the end of this year.

Charger: Dodge unveiled the electric Charger Daytona SRT Concept in August, providing a look into the brand's future. The noisy EV comes with an industry-first "exhaust" system for the segment and an 800-volt battery. It's slated to be released in 2024.

The final year of the muscular sedan in its current form will see numerous heritage-influe…

During deliberations over the evolution of Ford Motor Co.'s franchise dealership model, its retailers secured a big win: choice.

The automaker wants its dealers to invest heavily in battery-electric vehicles and redefine how they sell those products as it seeks an edge over Tesla and other newcomers that sell directly from factory to consumer. After months of meetings with its dealer council, including breakout discussions with rural dealers, the two sides struck a compromise that Ford laid out to dealers who gathered in Las Vegas last week.

Getting the right to sell Ford EVs beyond next year won't be cheap — a seven-figure investment in many cases. But it will be optional.

Anyone not ready to fully commit to electrification can gain the ability to sell a couple of EVs a month by spending less money upfront, an alternative devised by the dealer council that the company agreed to adopt. Those who aren't ready to invest at all can con…