News

Join Automotive News Publisher Jason Stein for a daily podcast series about the coronavirus crisis. He’ll speak with industry experts, insiders and Automotive News reporters about how the virus is impacting and reshaping the automotive industry.

American Honda's auto division boss Dave Gardner discusses the automaker's incentive strategy for retailers, his new role at the company and the protests stemming from the death of George Floyd.

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 Dr…

BRUSSELS -- EU antitrust regulators are concerned about Fiat Chrysler Automobiles and PSA Group's combined high market share in small vans and may require concessions to clear their $50 billion merger, people familiar with the matter said.

The companies, which are seeking to create the world's fourth-biggest automaker, were told of the European Commission's concerns last week.

If FCA and PSA fail to dispel the European Commission's doubts in the next two days and subsequently decline to offer concessions by Wednesday, the deadline for doing so, the deal would face a four-month long investigation.

The EU competition enforcer, which has set a June 17 deadline for its preliminary review, declined to comment. FCA was not immediately available for comment while PSA had no immediate comment.

FCA and PSA produce vans through a 50-50 joint venture called Sevel, which is based in Atessa, Italy, and is Europe's largest assembly plant for vans. It built 1,20…

In 2008, Schaeffler, a family-owned German supplier, made an offer to buy the shares of its listed rival Continental. It almost collapsed under the debt it amassed to fund the deal, which was unveiled shortly before the Lehman Brothers bankruptcy.

A decade later, another privately held German supplier, ZF Friedrichshafen, has made a similarly ill-timed, debt-funded takeover: the $7 billion acquisition of truck-braking specialist Wabco Holdings. ZF is now cutting thousands of jobs to keep its creditors at bay.

ZF is not a household name in the public domain because it does not sell directly to consumers and is not listed on the stock market. But many have heard of Ferdinand von Zeppelin, the man who set up ZF a century ago to start building gears for his airships. This mode of travel captured the world's imagination until the 1937 Hindenburg fire ended the era of luxurious passenger-carrying airships.

Today ZF is one of the largest suppliers, with almost…

Across Denver this spring you could hear the joyous honking of cars lined up for drive-through graduation ceremonies in high school parking lots.

The adaption of this annual celebration to meet the physical distancing realities of the COVID-19 era vividly displayed our nation's power of resilience — and the power of cars in helping us rise to this unprecedented challenge.

The same pandemic that has sorely tested the automotive industry is demonstrating its bright future as a key element of the U.S. recovery. Is it possible that one of our worst moments will pave the way for some of our best?

In a world with new dangers, there is a renewed appreciation of the personal vehicle as a place of safety and an important element in our nation's recovery.

The nation's privately owned vehicle fleet has become a lifeline and lifesaver.

Before the pandemic took hold in Denver, cars were increasingly being targeted as a problem that needed to be solved…

As dealerships reopen, making sure customers — on edge due to the coronavirus — are confident their serviced cars are clean and germ-free has become a top priority.

Antimicrobial treatments for vehicles have become increasingly popular at dealerships. In many instances, dealerships provide the cleaning for free. But in the past two months, antimicrobial treatments as F&I offerings have experienced a 20 percent market-share gain compared with last year, according to F&I product provider Portfolio.

When dealers needed a product to sanitize cars in their service departments, Cilajet — a supplier of aviation-grade paint and metal sealants — started manufacturing an antimicrobial solution. The product, which was offered as a free service to front-line workers in some stores, is making its way into the F&I department.

"We are working with major administrators to ensure that there are some good and valuable F&I benefits …

Hyundai made a big bet heading into the coronavirus pandemic, and it paid off in May.

The Korean automaker's moves over the past several weeks should position it for a stronger rebound coming out of the industry's shutdown.

Hyundai was among the first brands to introduce 0 percent financing for 84 months, deferred payments for 120 days and an industry exclusive in March: job-loss insurance that would cover up to six payments.

But for the strategy to work, Hyundai had to gamble on stocking up on inventory as its sole U.S. plant in Alabama was closing because of stay-at-home orders.

Luckily, South Korea had mostly overcome the worst of its virus outbreak, so Hyundai executives in the U.S. had a pipeline for popular crossovers such as the Kona, Tucson and Palisade.

"We elected to be very aggressive upfront to demonstrate leadership, to demonstrate confidence in the company and to provide resources for our …

This was supposed to be a comeback year for Aston Martin and its retailers with the arrival of its DBX SUV, a major component of the automaker's Second Century business plan issued in 2015.

But halfway into 2020, the British ultraluxury brand — which has struggled financially since going public in 2018 — has experienced more turmoil. The DBX is still set to arrive at dealerships this summer, but it will now go on sale without one of the key executives behind the vehicle, Andy Palmer.

Palmer stepped down as CEO last month. He is to be replaced by Mercedes- AMG CEO Tobias Moers, who is set to start his new role on Aug. 1.

Last week, the automaker said it would cut up to 500 jobs, or about 20 percent of the company's work force, as the COVID-19 pandemic saps consumer demand and the need for vehicle production.

The change in CEO followed the addition of a new executive chairman, Canadian billionaire Lawrence Stroll, in A…

Wearing masks in public to slow the spread of the novel coronavirus has quickly become a staple in American life.

Should it be common in automotive advertising, too?

Donning masks is a polarizing issue in some circles, and it appears auto retailing is one of them. Ford has experienced this firsthand.

Matt VanDyke, Ford's director of U.S. marketing, said some dealers aren't ready to accept ad content with people wearing masks. Others think it's important to show mask use.

"We shared with our dealer association groups some new creative that we have developed and literally about a third of the group said, 'If you show people in the showroom of a Ford dealership and they don't have a mask on, I can't or won't use it,' " VanDyke told Automotive News Publisher Jason Stein last week during the Congress Conversations series.

Other dealers argued that if Ford shows people in a showroom with masks on, it will scar…

BERLIN -- Volkswagen is considering more cost cuts to help cope with the economic impact of the coronavirus pandemic, a spokesman for the automaker said on Saturday.

The issue was recently discussed at an internal event, the spokesman said, when asked about a report in Automobilwoche, a sister publication of Automotive News.

"There were general deliberations about what further cost measures could be taken to respond to the pandemic," the spokesman told Reuters. "There are no concrete decisions yet."

Automobilwoche quoted Volkswagen CEO Herbert Diess as telling top managers at a meeting on Thursday: "We must significantly cut R&D expenditure, investments and fixed costs compared with the previous planning."

The group's net liquidity would "continue to decline at least until July due to weak demand," the magazine, citing participants at the event, quoted Diess as saying, adding that not all group brands would achieve a positive result in 2020. Read more

Auto fraud has increased exponentially in the wake of the coronavirus pandemic as some people attempt to take advantage of the unprecedented moment in time. Investing in identity verification technologies can reduce fraudulent auto originations during the crisis, fraud experts said, but only if dealerships and lenders are on board.

One unexpected, increasing area of fraud risk for dealerships and auto lenders: the federal financial hardship and forbearance strategies keeping millions of Americans from falling behind on auto loan payments.

Thanks to existing protections and additional guidance in the Coronavirus Aid, Relief and Economic Security Act, lenders granting forbearance to customers in need aren't jeopardizing their credit standing.

Lee Cookman, director of product strategy of global fraud and identity solutions at credit bureau TransUnion, said while these tools are preserving legitimate customers' credit standing, they …