Wednesday, December 8th, 2021

Category: Automotive

Potential $100 billion Porsche IPO being considered by parent VW, report says

HAMBURG — Volkswagen Group is still exploring a possible initial public offering of its luxury brand Porsche as a way to fund its costly shift towards software and electric vehicles, two people familiar with...

Lucid must parlay early wins into lasting success

“We have had a great deal of activity recently, and we’ve been very excited by some of the awards coming our way,” Zak Edson, Lucid’s senior director of sales and service, told Automotive News....

Low dealership inventory pressures traditional year-end car sales events

The U.S. auto industry is poised to conduct bold — if involuntary — experiments this month in marketing and inventory management: how to execute the traditional year-end sell-off that consumers have been conditioned to...

Oklahoma Kia, Mitsubishi dealership owners, comptroller convicted of auto loan fraud

A federal jury in November convicted two Oklahoma dealership owners and their comptroller of using fraud to fool finance companies into issuing auto loans to consumers who might have been denied otherwise. Bobby Mayes,...

Canada’s Justin Trudeau weighs auto-content rules as next U.S. trade flashpoint

Justin Trudeau appears set to add another item to his government’s growing list of trade grievances with Joe Biden’s administration. Canada is leaning toward forming a common front with Mexico in a fight with...

Car dealers expect acquisitions to continue, survey finds

Despite concerns about electric vehicles and Tesla’s growing market share, dealership profits and cash flow are high, boosting confidence in the future of retailing, Erin Kerrigan, managing director of Kerrigan Advisors, a sell-side firm...

Kia shows off second-generation Niro compact crossover at Seoul auto show as EV race heats up

Kia unveiled the new Niro compact crossover with full-electric and hybrid powertrains as the automaker and its affiliate Hyundai seek to catch up in the EV market. The new Niro, an upgraded version of the...

Subaru CEO Tomomi Nakamura expects first back-to-back U.S. sales declines since 1990s

A decline in 2021 would mark the first time since 1995 that Subaru has notched back-to-back years of sliding sales in U.S. Since 1996, the brand’s annual sales have declined only three times, in...

Subaru braces for first back-to-back U.S. sales declines since 1990s

A decline in 2021 would mark the first time since 1995 that Subaru has notched back-to-back years of sliding sales in U.S. Since 1996, the brand’s annual sales have declined only three times, in...

Ford Europe adds V-6 diesel to redesigned Ranger

The equipment upgrades and higher quality materials reflect the fact that many customers in Europe buy high-spec versions. “The majority of our business is really high end,” Hans Schep, Ford of Europe’s head...