Corporate/Finance: Page 15
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Courtesy of Volkswagen Group
Volkswagen launches in-house AI company
The lab will create vehicle infotainment and navigation products, collaborating with tech companies across China, Europe and North America.
By Eric Walz • Feb. 6, 2024 -
Retrieved from Northwest Seaport Alliance on September 20, 2023
Auto volumes surge at Northwest Seaport Alliance during 2023
The growth was fueled by Glovis America’s consolidation of its Kia and Hyundai business at the seaport and business from General Motors.
By Alejandra Carranza • Feb. 5, 2024 -
Courtesy of Mazda North America
January sales roundup: Automakers see annual gains, but Hyundai, Kia lag
Honda, Mazda and Subaru posted strong sales figures, avoiding a post-holiday slump.
By Michael Brady • Feb. 2, 2024 -
Courtesy of Volkswagen Group
Volkswagen Group names new CTO for China
The Volkswagen brand will also combine its new mobility and technical development divisions.
By Michael Brady • Feb. 1, 2024 -
Courtesy of Toyota Motor Corporation
Toyota sees first annual sales increase in 2 years
The automaker sold 11.2 million vehicles worldwide in 2023, a 7.2% year-over-year increase.
By Michael Brady • Jan. 31, 2024 -
Courtesy of General Motors
GM to sell more hybrids as EV demand wanes
The automaker will time some new vehicle launches to comply with fuel economy and emissions standards, CEO Mary Barra said.
By Eric Walz • Jan. 31, 2024 -
Courtesy of Cruise LLC
GM CEO: ‘We are committed to Cruise’
Despite investigations, ongoing safety concerns and a $2.7 billion loss last year for the robotaxi unit, General Motors CEO Mary Barra insists the “technology is sound.”
By Dan Zukowski • Jan. 31, 2024 -
Bilanol/iStock/Getty Images Plus via Getty Images
New vehicle sales slowed in January
Sales volume is projected to end the month down an estimated 21.3% from December, Cox Automotive said.
By Michael Brady • Jan. 30, 2024 -
Courtesy of Wieland
Wieland to expand Illinois copper production plant
The project will help increase the production of critical components used in EVs and EV charging infrastructure.
By Joelle Anselmo • Jan. 30, 2024 -
Mario Tama/Staff/Getty Images News via Getty Images
Automotive industry outlook for 2024
Executives are adjusting plans as they deal with economic headwinds, a web of federal mandates and the fallout of the United Auto Workers deal.
By Michael Brady • Jan. 30, 2024 -
Courtesy of Ford Motor Co.
Lincoln plans to buy out another 100 US dealers in 2024
Ford’s luxury brand is streamlining its sales network to match supply and demand.
By Eric Walz • Jan. 29, 2024 -
Courtesy of Hyundai Motor North America
Hyundai raked in record profits in 2023
Despite last year’s success, the automaker is taking a cautious approach in 2024 as high interest rates and a global economic slowdown threaten new vehicle sales.
By Michael Brady • Jan. 26, 2024 -
Courtesy of Stellantis
Stellantis acquires CloudMade’s AI technology for software-defined vehicles
More than 40 engineers and software developers will join the automaker as part of the deal.
By Michael Brady • Jan. 26, 2024 -
Courtesy of Tesla Inc.
Tesla warns of growing competition from automakers in China
CEO Elon Musk suggested increasing trade barriers could help fend off competition.
By Eric Walz • Jan. 25, 2024 -
SweetBunFactory via Getty Images
EV battery research gets $131M funding boost
More than half the Energy Department funding is for 27 projects working on increasing EV driving range, lowering battery costs and advancing on-board charging systems.
By Kate Magill • Jan. 24, 2024 -
Courtesy of Fisker, Inc.
Fisker says more than 100 dealers are interested in selling its EVs
The EV startup also said it would sell all its unsold 2023 vehicle inventory by the end of the first quarter of 2024 to improve its balance sheet.
By Eric Walz • Jan. 24, 2024 -
Courtesy of Cummins.
Cummins to spend $580M to upgrade North Carolina plant
The new equipment will expand the Rocky Mount plant’s ability to produce gasoline and propane engines.
By Sara Samora • Jan. 22, 2024 -
Tim Boyle via Getty Images
Goodyear names former Stellantis exec CEO
Mark Stewart, former chief operating officer of North America at Stellantis, will lead the automotive supplier’s corporate transformation as it seeks a return to profitability.
By Michael Brady • Jan. 22, 2024 -
Courtesy of Kia America
Hyundai, Kia restructure R&D for mobility, software-defined vehicles
It’s the second time the automakers have reorganized their R&D efforts in the past year.
By Michael Brady • Jan. 19, 2024 -
Inside Creative House/iStock/Getty Images Plus via Getty Images
FTC pauses rule to fight dealer bait-and-switch tactics, junk fees
The National Automobile Dealers Association and the Texas Automobile Dealers Association sued the agency to block the rule from taking effect.
By Michael Brady • Jan. 19, 2024 -
Courtesy of Ford Motor Co.
Ford to cut F-150 Lightning production amid slowing demand
The automaker is also increasing Bronco and Bronco Raptor production to grow sales and profitability.
By Eric Walz • Jan. 19, 2024 -
Courtesy of Hertz/GM
Hertz reverses course on EVs
The company, which once said EVs would account for a quarter of its rental fleet by 2025, is selling 20,000 vehicles and replacing them with gas-powered cars.
By Dan Zukowski • Jan. 18, 2024 -
skynesher/E+ via Getty Images
Consumer satisfaction with car buying experience the highest since 2020
Larger inventories, higher discounts and more streamlined purchasing experiences are making it easier and faster for consumers to get into a new vehicle, a Cox Automotive survey found.
By Michael Brady • Jan. 18, 2024 -
Biden administration awards $623M for EV charging, hydrogen buildout
The funding is a part of the federal government’s $7.5 billion push to build a national EV charging network.
By Robert Walton • Jan. 17, 2024 -
Courtesy of Stellantis
Sixt to buy up to 250,000 vehicles from Stellantis
The rental car company plans to buy a wide range of vehicle types, including city cars, SUVs and vans, from Fiat, Jeep, Peugeot and more.
By Michael Brady • Jan. 17, 2024
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