News

Lithia Motors Inc., which last week indicated it had several acquisitions in the pipeline as it looks to continue growing, has purchased two Lexus dealerships in California.

The nation's third-largest new-vehicle retailer said Wednesday that it purchased Lexus of Sacramento and Lexus of Roseville. The stores combined are expected to generate $160 million in annual revenue. Lithia, which long term wants to more than triple its combined U.S. new- and used-vehicle market share by revenue, now has 189 stores nationally and 42 in California.

"We are excited to finally enter the Sacramento market and further expand our network with a dominant luxury-vehicle presence," Lithia CEO Bryan DeBoer said in a statement. "These stores kick off an expected strong year of growth in our core business and, combined with our digital strategies, further our vision to serve customers wherever, whenever and however they desire."

Lithia purchased the stores from RPM Luxury Auto…

DETROIT -- Jim Farley could get as much as a 32 percent raise when he becomes Ford Motor Co. COO on March 1, according to a new filing with the Securities and Exchange Commission.

Ford, in the filing, said Farley's total compensation will rise to $8.29 million, up nearly $2 million from his current compensation as president of new business, technology and strategy at the automaker.

The compensation payouts reflect base salary, stock grants and yearly bonus targets.

The 57-year-old's base salary will rise to $1.4 million from $1.1 million. His annual bonus target will rise to $1.89 million from $1.375 million and his annual stock grant will rise to $5 million from $3.82 million, Ford disclosed in the filing.

The compensation committee on Ford's board of directors approved the changes last week, according to the filing.

Farley earned $5.86 million in 2018, according to Ford's most recent proxy filing. Joe Hinrichs, Ford's president of automot…

Chrysler introduced the DeSoto Adventurer, a high-powered, two-door hardtop similar to the Chrysler 300, on Feb. 18, 1956.

DeSoto was born in 1928 to slot above Plymouth and eventually targeted the growing middle of the postwar American car market, competing with Oldsmobile, Mercury, Hudson, Willys and Studebaker.

The Adventurer name debuted as a four seat, high-performance sports coupe concept car — designed by Ghia — in 1954.

The Adventurer — available initially in a combination of gold with black or white paint — packed a high-output 341-cubic-inch Hemi V-8 engine with 320 hp, a dual exhaust and custom trim. Standard appointments on the limited-run car included dual outside side mirrors, gold wheel covers, a radio, an electric clock, a padded instrument panel, windshield washers, dual rear-mounted radio antennae, full instrumentation and a heavy-duty suspension.

The vehicle rode on a 126-inch wheelbase and was 220.…

Editor's note: An earlier version of this story misspelled the name of Porsche's spokesman.

A Porsche Taycan electric car caught fire in a Florida garage Sunday, damaging the building's structure and exposing parts of the vehicle's frame, according to reports.

Calvin Kim, a Porsche spokesman, told Automotive News the automaker was made aware of the incident on Feb. 16. One of its Taycan electric cars was parked overnight at a residential address, he said.

"We are investigating, and we remain ready to assist if called upon," Kim said. "We are relieved to hear that no one was harmed in this incident and that it's too early to speculate on the cause until the investigation has concluded."

Online news site Electrek and Bloomberg also reported on the fire.

The Porsche Taycan is the brand's first battery-electric production vehicle, with an 800-volt system instead of the usual 400 volts for electric cars.

Porsche, the high-perfor…

The Bentley Flying Spur, redesigned for the 2020 model year, is the British ultraluxury brand's newest challenger to Maybach and AMG versions of the Mercedes-Benz S-class sedan. The 12-cylinder Bentley has a maximum output of 626 hp. It can accelerate from 0 to 60 mph in 3.7 seconds and boasts a top speed of just more than 200 mph. Bentley claims it's the world's fastest sedan. Here's a roundup of snippets of Flying Spur reviews from the automotive media.

"The Flying Spur is fairly large, at over 17 feet in length, but the rear-wheel steering — a first for Bentley and one feature that is unique to the Spur — helps out massively when negotiating the incredibly cramped and twisty roads of [a tiny European] principality. With the rear wheels countersteering at slow speed, the car actually feels no longer than the Continental GT, effectively hiding the bulk of the Flying Spur. Once out in the mountains, the rear-wheel steering makes hairpins a breeze. It seems ironic: Th…

COVENTRY, England -- Jaguar Land Rover has flown Chinese parts in suitcases to Britain to maintain production and could run out after two weeks as the impact of the coronavirus outbreak hits firms across countries and industries.

Britain's biggest carmaker operates three car factories in its home market that build nearly 400,000 vehicles a year.

"We are safe for this week and we are safe for next week. In the third week we have parts missing," CEO Ralf Speth told reporters on Tuesday at the official opening of the National Automotive Innovation Centre in Coventry, central England.

"We have flown parts in suitcases from China to the U.K.," he said.

Production at JLR's Chinese factory would recommence on Feb. 24 and was "safe for the first week," Speth said.

The new coronavirus has killed some 1,900 people in China and infected around 72,000, confining millions to their homes, disrupting businesses and delaying reopening of factories after th…

Subaru of America, in a marketing move that goes beyond brand hallmarks of love, the outdoors and dogs, has acquired the naming rights of a professional sports stadium.

Starting with the 2020 Major League Soccer season, the Philadelphia Union will play at Subaru Park. It marks the first stadium-naming-rights deal for the Japanese automaker globally.

The team has played at the 18,500-seat stadium in the Philadelphia suburb of Chester, Pa., since 2010.

Financial terms for the deal were not disclosed, but Subaru said it is for seven years. Subaru replaces Talen Energy as the stadium's naming sponsor.

Subaru's U.S. headquarters are in nearby Camden, N.J., and has been based in the Philadelphia area since it was founded in 1968. It moved to its current headquarters in 2018.

Subaru joins a handful of automakers with stadium naming rights in MLS. This includes Audi Field, home of the D.C. United, and Toyota Stadium, home of FC Dallas. Two primaril…

BEIJING -- Tesla Inc. is in advanced talks to use batteries from Contemporary Amperex Technology Co. that contain no cobalt -- one of the most expensive metals in electric vehicle batteries -- in cars made at its China plant, people familiar with the matter said.

Adoption would mark the first time for the U.S. automaker to include so-called lithium iron phosphate, or LFP, batteries in its lineup, as it seeks to lower production costs amid faltering overall EV sales in China.

Tesla has been talking to the Chinese manufacturer for more than a year to supply LFP batteries that will be cheaper than its existing batteries by a "double-digit percent," said a person directly involved in the matter, who was not authorized to speak with media and declined to be identified.

Tesla Inc and CATL declined to comment.

EV manufacturers usually use nickel cobalt aluminum or nickel manganese cobalt batteries on passenger vehicles becau…

LAS VEGAS -- The success of General Motors and its dealers depends on them working together, GM CEO Mary Barra told dealers Monday. So GM is focused on getting dealers -- large and small-- ready for the future.

"It's very important as we work at putting the customer at the center that we partner with our dealers because you're the person has that relationship with that customer every day," Barra told dealers at her first NADA Show. "Customers are also increasing their expectations of what brands mean and what service means. So as we partner together, I know we can navigate the landscape in front of us and come out in a leadership position."

GM's sales are strong in rural and suburban areas largely because of the dealers there, said Barra. Brian Sweeney, who previously led Chevrolet, took on the newly created role of vice president of dealer operations and innovation in November. He will lead retail innovation and work with Chevrolet, Buick and GMC dealers to im…

LAS VEGAS — National Automobile Dealers Association Chairman Rhett Ricart used his introductory address at the 2020 NADA Show to reassure dealers that they'll "be just fine" as new technology and services transform the automotive industry.

"We'll meet disruption at the door and no matter what the name is, we'll answer it," he said in an impassioned 15-minute speech.

"Dealers thrive on disruption...There's something to be said of auto dealers that went through wars, recessions, depressions, oil embargoes, global economic meltdowns, OEM bankruptcies, and are still upright, standing tall, and stronger than ever."

Ricart, 63, is CEO of Ricart Automotive Group, which sells seven brands at seven stores in Columbus, Ohio.

He said Monday his top priority as chairman is to improve dealer profitability. Ricart previously told Automotive News that the group's top challenges this year include working with manufacturers to keep vehicles affordable and to ensur…