auto industry

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Toyota's New Joint Venture With Mazda: $1.6B US Factory

The move could create up to 4K jobs

(Newser) - Japanese automakers Toyota and Mazda said Friday they plan to spend $1.6 billion to set up a joint-venture auto manufacturing plant in the US—a move that will create up to 4,000 jobs. The plant will have an annual production capacity of about 300,000 vehicles and will... More »

Volkswagen Has Been Kicked Out of No. 1 Auto Sales Spot

Renault-Nissan is the new king of the cars

(Newser) - Results are in for the first six months of worldwide car sales, and Volkswagen has been, as CNNMoney notes, "dethroned." The German carmaker came in with about 5,155,600 vehicles sold in the first half of the year, followed by Toyota at 5,129,000. But it... More »

Volvo's Electric Announcement Is an Industry First

Would be first carmaker to phase out cars powered by combustion engines

(Newser) - The heart of the auto industry keeps expanding outward from Detroit, the BBC notes: first west to Silicon Valley, thanks to Tesla, and now east to China, thanks to a major move from Volvo. The Swedish carmaker, owned by the Chinese firm Geely, is poised to become the world's... More »

5 Best, 5 Worst New Car Brands in America

Kia comes out on top for second year running

(Newser) - If it's time to look for a new car, we have good news for you: According to JD Power's 2017 US Initial Quality Study, new-vehicle quality is at its best-ever level. 24/7 Wall St. reviewed JD Power's scores for 32 car brands, which were based on problems... More »

10 Cars That Sit Longest on Dealer Lots

Fiat 500L gets the unwanted distinction

(Newser) - Some cars fly off dealers' lots and some, well, linger. Using data from Kelley Blue Book, 24/7 Wall St looked at which cars sat the longest at dealerships before selling in 2016. The worst performers, along with the average number of days the models hung around:
  1. Fiat 500L, 174.6
... More »

Trump: 'The Germans Are Bad, Very Bad'

President was talking about trade, and auto sales in particular

(Newser) - One of President Trump's comments during a meeting with EU leaders Thursday isn't going over well in Germany. "The Germans are bad, very bad," the president said, as quoted by Der Spiegel . It came during a trade discussion, with Trump's reference being about auto sales.... More »

Ford's New CEO: Guy Who Helped Turn Around Michigan Football

Mark Fields is out, Jim Hackett is in

(Newser) - Mark Fields' tenure as Ford Motor CEO is coming to an end after just three years, during which the company's shares plunged 40%. The New York Times details various bumps in his road: recent safety recalls, the discarded plan to build a $1.6 billion plant in Mexico, Q1... More »

Ford to Slash Up to 20K Jobs: Report

Company aims to become 'as lean and efficient as possible'

(Newser) - Ford is expected to lay off a large chunk of its workforce as part of a plan to cut costs by $3 billion, various media outlets are reporting. Sources tell the Wall Street Journal that the cuts, which could be revealed as early as this week, will affect 10% of... More »

Sticker Shock May Explain Slumping Auto Sales

Bloomberg points to a $50K minivan, though others say industry is still fine

(Newser) - The latest auto sales figures have triggered a flurry of negative headlines of the-boom-is-over variety. Sales fell 4.7% in April, which is the fourth straight month of declines and the first time we've had such a streak since 2009, reports the AP . Barring an unexpected surge, the US... More »

Tesla Is Now the Most Valuable US Automaker

Investors aren't put off by lack of profits

(Newser) - Tesla sent a jolt through the auto industry Monday by becoming the most valuable American automaker, overtaking General Motors, which sold more than 100 times as many cars last year. GM also made a profit of around $9 billion in 2016, while Tesla—which has had only two profitable quarters... More »

Obama's Tougher Gas Mileage Rules May Be Going Away

EPA will re-examine standards put in place at 11th hour

(Newser) - President Trump on Wednesday is making a move seen as good news for the auto industry and bad news for environmental advocates. In a visit to Detroit, the president will direct the EPA to re-examine fuel efficiency standards put in place by the Obama administration just before Trump took office,... More »

GM Set to Announce $1B Factory Investment: Source

AP source says jobs announcement coming Tuesday

(Newser) - General Motors will announce a $1 billion investment in its factories that will create or keep around 1,000 jobs, a person briefed on the matter tells the AP . The Detroit automaker will make the announcement Tuesday morning. The investment is part of the normal process of equipping factories to... More »

Like VW, Fiat Chrysler Now in Trouble for Emissions

EPA accuses automaker's software of cheating on emissions levels

(Newser) - Less than 24 hours ago, Fiat Chrysler was anticipating hitting its 2018 financial targets. On Thursday, the automaker came under fire from the EPA, per Reuters , with the agency alleging Fiat Chrysler cheated on diesel emissions—just a day after six Volkswagen honchos were indicted in that company's own... More »

This Is the 'Car of the Year'

Chevy Bolt takes honors at Detroit Auto Show

(Newser) - The Chevy Bolt picked up more bragging rights Monday that you'll likely be hearing about in lots of future commercials. The fully electric vehicle was named Car of the Year at the North American International Auto Show in Detroit, reports USA Today . The Bolt beat out two luxury sedans,... More »

Fiat Says Its $1B Move Has Nothing to Do With Trump

Investment will create 2K jobs in Michigan, Ohio

(Newser) - Fiat Chrysler may have earned itself a gold star from Donald Trump with the announcement of a $1 billion investment in updating two plants in Michigan and Ohio, a move expected to create around 2,000 jobs by 2020. The company says a plant near Detroit will make new Jeep... More »

Ford Mexico Plant Cancellation Not Quite What It Seems

Small-car production is still heading south

(Newser) - Ford may have found a successful strategy for dealing with Donald Trump: letting him take credit for stuff it was going to do anyway. The company's announcement Tuesday that it's canceling a $1.6 billion plant in Mexico was seen as a big victory for the president-elect, but... More »

GM Doesn't Take Trump's Tweet Sitting Down

Trump threatened to slap tax on automaker for importing Cruzes

(Newser) - After swinging at China Tuesday morning on Twitter, President-elect Donald Trump set his sights on this continent, tweeting , "General Motors is sending Mexican made model of Chevy Cruze to U.S. car dealers-tax free across border. Make in U.S.A.or pay big border tax!" Politico reports... More »

Trump Says He Kept Ford Plant in Kentucky

Company hadn't planned to move whole plant to Mexico

(Newser) - President-elect Donald Trump took to Twitter Thursday night to announce that Ford Motor Co. won't be moving Lincoln production from Kentucky to Mexico. Trump tweeted that Bill Ford, the company's executive chairman, telephoned him with the news that a Lincoln plant would stay in Louisville. In another tweet... More »

GM Laying Off 2K Due to Change in How We Buy Cars

Factories cut shifts amid falling demand

(Newser) - Shifting demand from cars to trucks and SUVs is forcing General Motors to lay off more than 2,000 workers indefinitely at two assembly plants in Ohio and Michigan starting in January. The company said Wednesday it will suspend the third shifts at factories in Lordstown, Ohio, and in Lansing,... More »

Tesla Racks Up 'Unprecedented' Sales With Model 3

New electric car, not even available until late 2017, has 276K preorders

(Newser) - Electric cars used to be a quaint novelty for a niche demographic. But the throngs trying to nab one of Tesla's new Model 3 sedans are turning a one-time fad into a phenomenon. The Washington Post reports that in two days' time, 276,000 people preordered its latest vehicle,... More »

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