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The Small Business Administration Office of Advocacy has joined auto industry groups in petitioning the Federal Trade Commission to give financial institutions and dealerships another year to meet the revamped Safeguards Rule as the compliance deadline nears.

Following a rule-making process dating to 2019, the FTC in October 2021 voted 3-2 to update the Safeguards Rule. The agency gave businesses until Dec. 9, 2022, to comply with the revised regulations, which are an element of the Gramm-Leach-Bliley Act governing consumer information security.

"While preserving the flexibility of the original Safeguards Rule, the revised Rule provides more concrete guidance for businesses," the FTC wrote in a May guide for companies. "It reflects core data security principles that all covered companies need to implement."

The National Automobile Dealers Association, auto lender trade group American Financial Services Association, credit bureau org…

Randy Miller, Global Advanced Manufacturing and Mobility leader at EY, discusses findings from the new Consumer Index Study including post-COVID mobility trends, Car Boom Beacons and the outlook on consumer EV adoption. 

WASHINGTON — Ford Motor Co., General Motors and electric pickup maker Rivian have issued safety recalls affecting nearly 400,000 U.S. vehicles, according to separate reports filed with NHTSA and made available Wednesday.

The largest of the recalls covers more than 277,000 Ford Super Duty models and Lincoln Continental luxury sedans from the 2017-20 model years.

An internal lens on the rearview camera that is equipped on those vehicles has an antireflective coating that may degrade over time from exposure to ultraviolet radiation. The degradation "can lead to a progressively foggy or cloudy rearview camera image," according to the safety recall report.

Magna Electronics in Holly, Mich., supplies the rearview camera.

Ford told U.S. auto safety regulators it is aware of 7,625 Super Duty and 1,236 Lincoln Continental warranty reports in the U.S. as of July 13 that are potentially related to the defect. The automaker is not aware of any reports of acc…

Bosch Group said it will invest more than $200 million to produce fuel cell stacks in its South Carolina facility, as the German company accelerates its transition to electrification.

Bosch, the world's largest auto supplier, said on Wednesday it will expand its existing Anderson facility to support fuel cell production, which is planned to start in 2026 creating at least 350 new jobs.

The fuel cell stacks produced in the facility will drive hydrogen-powered trucks coming to U.S. roads in the next few years, the company said.

The move comes as the U.S. Environment Protection Agency proposes to cut nitrogen oxide emissions from heavy trucks of 47 percent to 60 percent by 2045, which will force the industry to adopt hybrid and electric powertrains.

A fuel-cell power module is a system that generates electricity from hydrogen in vehicles and is essentially used in commercial vehicles.

Last year, Bosch signed a deal with electric truck maker …

Tom Pappert, a longtime Chrysler sales executive who earned a reputation as an outspoken advocate for dealers both during and after his tenure, died Monday in suburban Detroit after a three-year battle with cancer.

He was 82.

A native of Pittsburgh and a graduate of Duquesne University, Pappert joined Chrysler in 1962 as a trainee in a regional sales office in his hometown. He spent the first 14 years of his career with the automaker's regional sales operations moving with his wife, Joyce, and their young family across the mid-Atlantic region, then to Florida, the Midwest, then the West Coast before landing in Detroit in 1976.

Pappert was one of the few top Chrysler executives to remain when Lee Iacocca was recruited to become CEO, and stayed on through the automaker's first brush with bankruptcy, in 1979. He became the company's head of sales in 1980, and held the job until he retired in 1998.

During his tenure, Pappert focused tirelessly on imp…

Editor's note: Automotive News reached out to the 2021 CADIA Impact Award winners after they were named. To see who won, click here.

DETROIT — The Center for Automotive Diversity, Inclusion & Advancement is accepting nominations for the second annual CADIA Impact Awards, which recognize achievements in automotive diversity, equity and inclusion.

The awards will be presented Nov. 17 to individuals, teams or companies making a measurable impact on DE&I in the industry and that have worked to support CADIA's mission of doubling the number of diverse leaders by 2030.

"The Impact Awards were created to recognize all of the individuals, teams and companies that are working to create a more inclusive auto industry," Cheryl Thompson, CEO of CADIA, in a press release. "We hope that sharing these stories of success will motivate other companies to begin DEI work in their companies as well."

The categories are:

Leadership Commitment: A leader who…

Toyota’s global output sinks for the fourth straight month. Nikola plans to raise up to $400 million with its stock sale. Tesla runs afoul of federal labor law. Plus, consultant and transportation strategist Selika Josiah Talbott makes her case for creating a federal AV and EV czar.

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Lucid Group Inc. on Monday filed for a new offering of up to $8 billion as the luxury electric-vehicle maker looks to beef up working capital at a time when supply snarls have crimped its production.

The company, which has a market capitalization of about $27 billion, halved its production forecast for EVs earlier this month, blaming supply chain and logistics challenges.

EV startups that promised to disrupt the automotive industry are now scrambling to keep a lid on costs and to bring vehicles to market, amid parts shortages and rising raw material prices.

Lucid filed for a mixed shelf offering, under which it may sell different types of securities in one or more separate offerings with the size, price and terms to be determined at the time of sale.

The company's shares fell 7.5 percent to $14.96 on Tuesday afternoon -- adding to its 57.5 percent losses so far this year.

California-based Lucid, which went public via a shell company in 2021…

Multi-national manufacturers have become adept at reducing the landed costs of goods by leveraging trade agreements to minimize duty obligations. Annual savings can be substantial — potentially millions of dollars.

This white paper presents five best practices for companies to leverage trade programs and maximize their benefits. Using trade agreements effectively requires deep compliance expertise. Using them efficiently requires a rich regulatory content database and connections to the rest of the supply chain. It also requires technology to ensure compliance and efficient trade process execution.

Increasing digital demands are behind some dealers' decisions to exit the business. And their stores often are eagerly snapped up by dealership groups that see advantages in being bigger.

One reason why being bigger helps? To maximize use of digital sales tools.

This has been playing out among the nation's publicly traded new-vehicle retailers, namely Asbury Automotive Group and Lithia Motors, which led the pack last year in spending on dealership acquisitions. Both groups have outlined revenue goals for their companies and their in-house digital sales platforms — Clicklane at Asbury and Driveway at Lithia.

Lithia executives, for example, have said they intend to reach consumers across the country by making the group's inventory available online, enabling a nationwide presence without also having to have a physical dealership in every market.

One of Lithia's goals is to have a dealership within 100 miles of its customers, "allowing us to convenien…

The latest Genesis G90 is a capable luxury sedan full of sleek design and expensive features fitting for a flagship car, but it may not be enough to compete with key rivals.

That's the consensus of early reviews by automotive journalists who are thoroughly impressed but doubt the car's competitive zeal.

Genesis has ditched the 5.0-liter V-8 engine that was a staple of the model. Instead, the 2023 version lowers the power to a choice of two different 3.5-liter turbocharged V-6 engines. Reviewers say the change isn't a big deal, and that the luxury sedan still feels good under the hood.

The G90's interior has undergone a major update, with many reviewers noting the effort aims to put the car on par with other models such as the Mercedes-Benz S-Class.

A notable feature is the new phone-as-a-key feature on iPhones that requires only a Bluetooth connection and negates the need for a key fob. Impressions are hit or miss, with …

Warren Buffett's Berkshire Hathaway Inc. has trimmed its stake in BYD Co., seven weeks after prompting speculation it might sell its entire multi-billion dollar stake in the largest Chinese electric vehicle company.

In a Hong Kong Stock Exchange filing, Berkshire said it sold 1.33 million Hong Kong-listed shares of BYD for about HK$370 million (US$47 million), reducing its stake in BYD's total issued H shares to 19.92 percent from 20.49 percent.

Tuesday's filing is the first confirmation that Berkshire has reduced its BYD investment since the 20.49 percent stake entered Hong Kong's Central Clearing and Settlement System on July 11, with Citigroup serving as custodian.

BYD's share price fell nearly 12 percent the next day.

Buffett's company had acquired 225 million BYD shares in 2008, giving it a 7.73 percent stake, equal to the 20.49 percent stake in H shares, according to BYD's annual report.

Berkshire paid $232 million for its shares, who…