Trade News

Audi has no plans to sell Lamborghini, a spokesman for the carmaker said after European media reports about a 7.5 billion euros ($9.19 billion) offer for the sports-car brand.

"This is not the subject of any discussion within the group," he said. "Lamborghini is not for sale."

The Swiss Quantum Group, together with the British investment company Centricus, are planning to submit a “Letter of Intent” on Wednesday, according to Automobilwoche, the German affiliate of Automotive News. Quantum boss Rea Stark Rajcic founded the new sports car brand Piech Automotive two years ago with Anton Piech, the son of the former VW patriarch Ferdinand Piech.

But the offer has little interest at parent Volkswagen Group and its Audi luxury unit.

Quantum is offering Lamborghini employees a five-year employment guarantee and is planning to take over the Italian carmaker's VW management team. After buying the brand, they want to enter into a strategic partnership with…

Lithia Motors Inc. said Tuesday that it has entered the Las Vegas market as it acquired a trio of Hyundai dealerships that are expected to add $225 million in annual revenue.

The transaction actually involved four stores: Hyundai of Las Vegas, Genesis of Las Vegas, Centennial Hyundai and ABC Hyundai that were owned by John Staluppi Jr., said Dave Cantin, CEO of the Dave Cantin Group. The western region office of DCG Acquisitions, a Dave Cantin Group company, represented Staluppi Jr. in the transaction.

Terms of the May 17 transaction weren't released, but Lithia said it paid for the Hyundai dealerships using funding available on its balance sheet.

"We are thrilled to make a strategic entrance into the Las Vegas market with three of the four Hyundai points in the area, giving us a dominant presence with a dynamic growing brand," Lithia CEO Bryan DeBoer said in a statement. "These franchises are matched perfectly with the local market demographics and fu…

DETROIT -- Ford Motor Co. plans to announce on Wednesday that it is developing two dedicated all-electric vehicle platforms, one for full-size trucks and SUVs, the other for cars and crossovers, as part of a strategy to catch General Motors, Volkswagen Group and Tesla Inc. in the global electrification race, sources familiar with Ford's plans told Reuters.

The all-EV platforms are part of an ambitious multi-year, multibillion-dollar plan the No. 2 U.S. automaker will outline to investors at its Capital Markets Day in an online event.

The dedicated platforms will give Ford common architectures — including shared chassis components, electric motors and battery packs — on which to base many of its future EVs. That will enable it to simplify and reduce the expense of everything from logistics to manufacturing as it transitions from a global lineup of mostly fossil-fueled products.

Ford said it does not comment on future product speculation.

At Wedne…

A number of automakers have scrapped alternative models to traditional vehicle ownership or leasing. But Georg Bauer, co-founder of startup NextCar, says subscriptions are still a viable option for consumers.

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Volkswagen's GTI always draws praise and plaudits from the fanboy crowd and enthusiasts. And VW has won more respect for keeping the GTI in its U.S. lineup even as it drops the base Golf.

For 2022, the redesigned GTI, riding on VW's acclaimed MQB platform, features a mildly retuned version of the outgoing car's turbocharged 2.0-liter direct-injection four-cylinder engine. The motor is now rated at 241 hp, up 13 hp over the 2020 GTI. Two transmissions are available: a six-speed manual and an optional seven-speed, dual-clutch automatic.

The latest GTI is built in Germany, whereas the previous version was assembled in Mexico. It is available only as a four-door since the previous two-door model wasn't as popular.

We've collected some reviews from the automotive media.

""he GTI is positively sublime in the switchbacks. Adaptive dampers eliminate any hint of body roll without making the ride so stiff as to be annoying, an…

Buick's lineup of midsize Century coupes, sedans and station wagons — downsized in 1973 from full-size models — proved versatile during the 1970s, when oil shocks and government regulations forced automakers to adopt smaller engines and bodies.

The car proved its mettle when Buick, for only the third time, served as the official pace car of the Indianapolis 500 on May 25, 1975, with the Century coupe.

The 1975 coupe was based on General Motors' rear-wheel-drive A-body platform, which was a monster seller for the company. The A-body Oldsmobile Cutlass, for example, was America's top-selling car in 1976. A-body stablemates included the Chevrolet Malibu, Monte Carlo, El Camino and Chevelle; the Pontiac Grand Prix, Grand Am and LeMans; and several others.

One magazine described the Century as having mild sporting pretensions, but the car received a major lift when it was chosen to pace the Indy 500.

The Buick provided for formal pace car…

Uber Technologies Inc. and rival Lyft Inc. on Monday launched COVID-19 vaccine ride programs in partnership with the White House, offering Americans free rides or discounts for their trips to and from a vaccination site.

Customers who have booked a vaccine appointment can request a ride through the Uber app and either incur no charges if the trip costs less than $25, or receive a $25 discount for their journey, the company said.

With two of the three COVID-19 vaccines available in the United States requiring two separate shots, Uber would pay a maximum of $100 per passenger under the program. A company spokesman said Uber does not have an estimate for the number of vaccine rides it expects to provide.

Lyft said it would provide a $15 discount for one round trip, for a total discount of $30 per passenger.

Drivers will receive the full payment for the trip, the companies said.

U.S. President Joe Biden two weeks ago announced the partnership…

A former employee of Tesla Inc.’s massive battery plant outside of Reno, Nev., claims in a lawsuit that he was fired from his $18,000-a-month job because the company, and CEO Elon Musk, wanted to cover up rampant theft of copper wire at the site.

Lynn Thompson said in the complaint that he noticed millions of dollars worth of copper wire being measured and cut, put on pallets and hauled off site. He said that on multiple occasions, starting in April 2018, he reported the theft of the copper wire to Tesla’s senior management, including Musk, and contractor ONQ Global.

In June 2018, Thompson said he witnessed some people loading copper wire onto a truck and reported it to Tesla security, who called local law enforcement. A few days later, Thompson was told by Tesla management that he wasn’t allowed back at the Gigafactory, according to the complaint, filed Friday in federal court in Nevada.

“Since this time, Mr. Thompson has learned that Tesla and Musk pre…

When does a car deserve special treatment from the government? That's the question at the heart of last week's White House summit on the semiconductor shortage that's impacted everything from smartphones to tractors, factory equipment and, yes, passenger vehicles.

The confab is unlikely to yield any immediate solutions. The Biden administration's infrastructure spending proposal includes $50 billion to incentivize domestic chip manufacturing and research, but all the money in the world can't produce semiconductors out of thin air overnight. There is no easy fix for the mismatch in chip supply and demand as the economy bounces back from the doldrums of the pandemic and products of all shapes and sizes become more high-tech. Rather, this is largely an opportunity for political maneuvering and an airing of grievances.

U.S. automakers want chips for cars to be prioritized in any government funding that's thrown at the problem. This is about more t…