Trade News

Jeff Schuster, president of global vehicle forecasting at LMC Automotive, provides his outlook for new-vehicle sales in 2022 and explains why shoppers are being 'trained' for build-to-order programs.

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In reviving one of its classic nameplates last used on some of its 1970s cars, Ford is adopting a new entry-level model of a different shape: the pickup.

The Mustang is the only remaining car in Ford showrooms, making the 2022 Maverick the new entry point into the Ford brand.

The compact truck has a starting price of $21,490, including a $1,495 shipping charge, making it $150 less expensive than the base EcoSport subcompact crossover.

The Maverick is the first Ford to come standard with a hybrid engine: a 191-hp, 2.5-liter hybrid four-cylinder with a continuously variable transmission and front-wheel drive. A 250-hp, 2.0-liter turbo four-cylinder with an eight-speed automatic transmission, with front- or all-wheel drive, is also available.

The pickup can haul up to 1,500 pounds and can tow up to 4,000 pounds with an optional EcoBoost gasoline engine.

It is 11 inches shorter — and about $5,000 less expensiv…

AutoNation Inc. plans to sell 17 collision centers — or about a quarter of its collision center rooftops — to Caliber Holdings in a transaction slated to close in the fourth quarter.

The auto retail giant, in a late Monday regulatory filing, said it inked the agreement with Caliber on Oct. 12. The deal includes a "long-term agreement" in which "certain AutoNation stores" would sell parts and refer business to the collision centers.

Financial terms were not disclosed.

Caliber, founded in 1997, has more than 1,400 locations. It has collision shops in 36 states, plus auto repair facilities in Texas and auto glass repair and replacement services, according to its website.

"AutoNation remains committed to its collision business and following the closing of the transaction will continue to own and operate the largest collision center footprint among its automotive retail peers with 55 collision centers located from coast-to-coast, including the collisio…

LOS ANGELES — The Civic Si has long been the go-to Honda for enthusiasts with its reasonable price, performance upgrades over the standard-issue sedan and a manual-only transmission.

That's still true with the 2022 version built on the redesigned 11th-generation body, although Honda isn't offering a power bump as might be expected.

Honda calls the updated Si "the best-handling, best-equipped and most fun-to-drive" ever -- even though peak horsepower has slipped to 200 hp from 205 hp in the previous generation. The automaker said that the power curve on the 1.5-liter turbocharged engine is more useful than before, with peak torque coming at lower revs.

Often, automakers add horsepower to sport-trim models from generation to generation to declare them the quickest ever. Of course, there is the track-ready Civic Type R for buyers willing to pay significantly more for a power boost.

The 2022 Si, on sale later this year, also benefits from an improve…

SHANGHAI -- Chinese smartphone maker Xiaomi said it plans to start mass producing its own electric cars in the first half of 2024, a company spokesperson said, citing comments from CEO Lei Jun.

The comments, which were made at an investor event, were first reported by local media and later confirmed by the company.

Zang Ziyuan, a director in Xiaomi's international marketing department, also posted the news on his verified Weibo account.

The date marks the next major target for the company's fledgling EV division, which Xiaomi formally announced earlier this year.

In March, Xiaomi said it would commit to investing $10 billion in a new EV division over the next ten years. The company completed the business registration of its new unit in late August.

The company has ramped up hiring for the unit, though it has yet to reveal if it will produce the car independently or via a partnership with an existing automaker.

After announcing the mandate for Canadian workers, requiring the vaccine will be the best way to help their employees feel safe on the job.

Truck fleet operator Ryder System Inc. and Gatik said on Tuesday they will build a national U.S. autonomous short-haul, "middle-mile" logistics network for Gatik, a Silicon Valley self-driving startup, to deliver goods to business customers.

Ryder's corporate venture capital arm RyderVentures has also invested in Gatik's latest funding round of $85 million that was announced in August.

Gatik works with Walmart Inc. and Loblaw Companies Ltd. to deliver goods to retail stores from warehouses using autonomous trucks with safety drivers -- though in Arkansas it is already running some driverless deliveries. 

As part of the partnership, Gatik will lease a fleet of medium-duty trucks from Ryder - initially around 20 vehicles in the Dallas area.

Gatik will add its autonomous driving systems to those trucks, which will transport goods to retail locations from fulfillment centers, or "dark stores" — distribution centers catering to e-commerce busines…

Our May 2021 discussion with Deloitte's Chris Richard focused on his belief that the auto industry's multi-tier supply base has too many layers and is causing the sector to fall behind other industries amid the microchip crisis. 

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Can't wait to hear the next episode of "Daily Drive"? Subscribe through a podcast app to receive episodes days in advance. If you don't have a podcast app already, here are some options. 

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“Daily Drive” is available on the iTunes Store and through the ‘Podcast’ app pre-installed on all iOS devices. Click here to subscribe to "Daily Drive"

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Volvo Cars is looking to raise 25 billion kronor ($2.9 billion) in a Stockholm initial public offering in a test for automakers amid the sector's transition to electric vehicles.

The deal values Volvo Cars at as much as $23 billion -- 11 years after the Chinese firm bought the business from Ford Motor Co. for $1.8 billion. The IPO is set to be Europe’s largest since January, according to data compiled by Bloomberg.

The offering of as much as 21 percent of Volvo Cars runs through Oct. 27, and the shares are set to start trading in Stockholm on Oct. 28.

Proceeds from the share sale will help Volvo shift to a direct-to-consumer sales and subscription model, while the company this year also set an ambitious goal to go all electric by 2030. Raising additional funds will smooth the shift away from legacy combustion engines and put the company on course to chase the high valuations of other EV specialists like Nio and Tesla.

The carmaker, with an ambitio…

Foxconn Technology Group unveiled its first electric vehicles, a milestone that could boost the Taiwanese electronics manufacturer's credentials as a serious bidder for Apple's secretive automotive project.

The utility vehicle and sedan models introduced on Monday are concept vehicles that the manufacturer plans to build for automotive customers rather than sell under its own brand. The vehicles - which also include a bus - were made by Foxtron, a venture between Foxconn and Taiwanese automaker Yulon Motor.

The sedan, which was jointly developed with Italian design company Pininfarina, will be sold by an unspecified automaker outside Taiwan in the coming years, while the utility vehicle will be sold under one of Yulon's brands and is scheduled to hit the market in Taiwan in 2023.

Executives including Young Liu, chairman of Foxconn's flagship unit Hon Hai Precision Industry, unveiled the vehicles at the company's Technology Day event in Taipei.…