Trade News

Tesla Inc., whose boss Elon Musk says he can develop a fully self-driving car without using laser-sensor technology, has a contract to use such sensors from Luminar Technologies Inc. for testing and development, according to people familiar with the matter.

A photo of a Tesla Model Y with a roof rack of lidar sensors posted to Twitter on Thursday stoked speculation that the companies were working together, sending Luminar’s shares up more than 10 percent that day. While similar images of Teslas with lidar sensors have popped up before on social media, it was unclear until now what the relationship is between Tesla and Luminar.

Luminar sold Tesla the sensors on that Model Y as part of an agreement between the companies, some of the people said, requesting anonymity because the information is private. In addition, Bloomberg News confirmed with the California Department of Motor Vehicles that the manufacturer’s license plate on the photographed vehicle belongs to…

Enterprise Holdings CEO Chrissy Taylor discusses what's hot and what's not among rental customers as the summer travel season approaches. Plus, Taylor explains how digital tools are enhancing the client experience.

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DETROIT — Ford Motor Co. on Monday opened F-150 Lightning order banks for commercial owners, promising lower ownership costs for a key demographic the company hopes will help it establish early dominance in the electric pickup market.

Ford said the base trim of the Lightning, focused on commercial buyers, will be called Pro.

It said last week the base model with a standard-range battery, targeted at a 230-mile range and also available to retail buyers, would start at $39,974 before shipping. On Monday, Ford revealed the Pro for fleets with an extended-range battery, estimated at 300 miles, will start at $49,974.

The Lightning Pro with a standard-range battery is targeted to get 426 hp and 775 pound-feet of torque, roughly 137 hp less than its max capability. It will have an estimated 2,000-pound payload capacity and 5,000-pound towing capacity, which can be upped to 7,700 pounds with an optional trailer tow package.

For an additional $10,000, the …

The Lum family has purchased a second Toyota store and third dealership after more than 50 years in auto retail.

Dealer Lori Lum said she and her family (father David Lum, mother Shirley Lum and her two sisters Julie Lum and Pam Lum) along with minority partner Justin Teubner last week bought McCurley Integrity Toyota in Walla Walla, Wash. McCurley Integrity Dealerships, which has five new-vehicle dealerships in Washington state, was the seller.

Terms of the May 17 transaction weren't disclosed, though the store has been renamed Walla Walla Toyota. Teubner is the dealership's general manager.

Lori Lum said the group, now in its second generation, had been looking for acquisitions and was happy to land another Toyota dealership.

"This great opportunity came up in beautiful Walla Walla, wine country," she told Automotive News. "It just fit really well."

The Lum family also owns Lum's Auto Center, a Toyota-Chrysler-Dodge-Jeep-Ram store in Wa…

Two major auto suppliers are combining their expertise in automotive and aerospace and taking their technology development to new heights.

Denso Corp. and Honeywell on Monday said they are working to develop electric propulsion for aircraft.

The suppliers will first focus on air taxis and delivery vehicles. The companies plan to deliver flight test configurations of the systems within the next year, they said.

"Mobility needs are changing, and this collaboration represents how Denso is evolving to meet them," Jiro Ebihara, head of Denso's electrification systems unit, said in a statement. "While we have committed to achieve a carbon-neutral society, we still need to reduce traffic and offer eco-friendly movement in population-dense areas. Working with Honeywell will help address both these issues and furthers our goal of creating mobility that is green and offers peace of mind."

Denso, a Toyota Motor Corp. affiliate an…

We know about the partially built cars waiting for microchips before they can be finished and shipped to dealers.

They prompted cartoonist's Leo Michael's take, above, on a potential trend inspired by the chip shortage.

The deficit has also prompted Jaguar Land Rover North America CEO Joe Eberhardt to imagine a different reality.

"We are severely understocked at the moment," he says in Monday's issue. "But it's a good problem to have."

Why?

"It increases our order bank," he says. "Traditionally, as we sold from stock, we had only a very few cars where we actually took orders."

And in an environment like that, good things happen. Inventories are much lower, and automakers aren't forced to push cars onto consumers.

"The challenge for us will be to accurately forecast what the real demand is, then have the discipline to actually flex the production once w…

The global chief operating officer of Hyundai Urban Air Mobility discusses why automakers are interested in air taxis, the underappreciated role of infrastructure and how close we really are to eVTOL flights.

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Buying the iconic Indianapolis Motor Speedway and open-wheel North American IndyCar racing league fulfilled a long-held dream for Roger Penske, but his first year of ownership was rather nightmarish.

Last year's Indy 500 was moved from its traditional Memorial Day weekend to August and ran without fans in attendance because of the coronavirus pandemic.

But the giant venue won't be empty come Sunday, May 30, when the green flag drops as restrictions have loosened, coronavirus cases have declined and COVID-19 vaccinations are widely available. About 135,000 fans — up to 40 percent of the track's capacity — will be allowed in the stands for the 105th race per agreements with Indianapolis Mayor Joe Hogsett and health officials in Marion County.

"That's going to be a big day for us," Penske, 84, told Automotive News. "I think it's going to show the world that we can open up an outdoor facility and handle a crowd like that properly, under the guidelines that…

TOKYO — When the pandemic deflated global demand and forced factory line suspensions, Japan's automakers were quick to do the math: If sales were heading south, so must their breakeven points.

As margins came under pressure last year, many of the country's automakers raced to improve their ability to churn out profits even while churning out fewer vehicles. As a result, changing those breakeven points was a top talking point of Toyota, Nissan and Mazda during the latest earnings season. Honda also made a point of saying it has cut back its fixed costs.

The issue may be most pressing for Nissan Motor Co. Although it reported large losses for the year, Nissan said it has lowered its operating profit breakeven point to a global sales level of 4.4 million vehicles — down from 5 million vehicles in 2018, before the pandemic.

That's a well-timed achievement. Nissan projects sales in this fiscal year will increase to exactly that level — 4.4 million vehicles,…

DETROIT — It's no coincidence that Cadillac is starting its push toward an all-electric lineup by the end of the decade with a vehicle in the same segment as Tesla's Model Y.

The Model Y is now the most popular electric vehicle in the U.S., accounting for 41 percent of EVs registered in the first quarter, according to Experian. Tesla's fast-rising market share shows that consumers are willing to buy luxury EVs today, said Mahmoud Samara, vice president of Cadillac North America, and General Motors' luxury brand is taking direct aim at the Model Y with the Lyriq crossover due out in early 2022.

"This is exactly why we are launching Lyriq at this moment in time and starting with that segment," Samara told Automotive News.

The Lyriq is scheduled to be followed by a parade of Cadillac EVs that the brand has yet to unveil. Until the EV portfolio fills out, Cadillac is relying on its gasoline-powered lineup to prepare for the future — a…