Regulators open 2 investigations into Ford over slow recalls
The largest of the probes covers about 457,000 Ford Bronco Sport SUVs and Maverick small pickups.
Auto Industry
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Car loan defaults jump as consumers battle inflation, high interest rates
A Cox Automotive report finds that car repossessions nationwide are up 23% over last year and 14% compared with the first half of 2019.
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Corvette will be the first hybrid pace car in Indy 500 history
The 2024 Chevrolet Corvette E-Ray 3LZ coupe, the 21st Corvette pace car at the Indy 500, uses naturally aspirated V-8 power and electric power.
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Toyota to spend $1.4B to add EV production at Indiana plant
Production of a new battery electric vehicle at the plant is expected to result in 340 new jobs by the end of 2025, Toyota announced Thursday.
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Subaru to stop production of Legacy model
The Legacy, which was designed for the American market, became the first Subaru manufactured in the United States when the Japanese company began production at its plant in Lafayette, Indiana, in 1989.
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Articles
General Motors lays off about 1,000 workers in cost-cutting move
GM and other automakers have been navigating an uncertain transition to electric vehicles both in the U.S. and worldwide, trying to figure out where to invest capital and how fast the switch will happen.
Engines on 1.4M Honda vehicles might fail, so regulators open investigation
The agency said in documents posted on its website Monday that connecting rod bearings on vehicles with 3.5-liter V6 engines can fail, leading to complete engine failure.
Troubled carmaker Stellantis reports 27% plunge in 3Q revenue as it cleans up inventories
Shipments dropped by 20%, to 1.2 million vehicles, in third quarter. The company is in the process of 20 new product launches globally this year.
Lower-priced new cars are gaining popularity, and not just for cash-poor buyers
Across the industry, auto analysts say, an “affordability shift” is taking root. The trend is being led by people who feel they can no longer afford a new vehicle that would cost them roughly today’s average selling price.
Stellantis CEO says carmaker on pace to fix sales problems after poor performance this year
CEO Carlos Tavares said the company is in a “Darwinian period,” and nothing is off the table including plant closures or shutting down brands.
Stellantis, seeking to revive sales, makes some leadership changes
Stellantis announced a number of significant leadership changes on Thursday, including the timing of CEO Carlos Tavares’ retirement and the departure of its chief financial officer, as it struggles to revive sales in North America.
Stellantis CEO eyes management shakeup as pressure mounts
The Jeep and Dodge maker has been grappling with bloated inventories, high-profile departures and slumping sales in the U.S. after raising prices more than peers.
Stellantis sues UAW to stop strike over stalled plant investment
In a lawsuit, the automaker accused the UAW of planning to violate a 2023 collective bargaining agreement by way of “impermissible” mid-contract strikes.
Carmaker Stellantis slashes forecasts as it faces industry slump, Chinese competition
Stellantis said it was accelerating efforts to turn around North America, including bringing dealer inventory levels to no more than 300,000 vehicles by the end of the year, instead of the first quarter of 2025 as previously planned.
Q&A with Graham Rahal: Race car driver is moving full speed ahead in business
How does someone who’s still on the racing circuit keep so many plates spinning? And why did he put this high-end automotive wonderland in Zionsville? Rahal addresses those and other questions.
UAW moves toward Stellantis strike as tensions escalate
The United Auto Workers will ask members to green light a strike against Stellantis NV, escalating an already tense standoff with one of the world’s largest car manufacturers.
UAW’s rift with Stellantis raises fear that some auto jobs could vanish
Anxious and angry about Stellantis’ delay, union leaders have threatened to strike, a move that could extend beyond Stellantis. Labor experts say its two Detroit-area rivals, Ford and General Motors, are watching as they weigh their own strategies
Stellantis to spend $406M at 3 factories in step toward meeting UAW commitments
Jeep and Ram maker Stellantis will retool three Michigan factories so they can build electric vehicles or battery parts to support a strategy of making vehicles powered by both gasoline and batteries.
GM delays Indiana EV battery factory, but finalizes joint venture deal with Samsung
The companies finalized their agreement Tuesday to jointly run the new factory in New Carlisle, Indiana, near South Bend, but said production would not start next year as originally planned.
Ford to shift electric vehicle strategy by building lower-cost pickups, commercial van
Electric vehicle sales in the U.S., Ford’s most profitable market, are still growing but have slowed as more practical consumers worry about range and the ability to recharge while traveling.
At Democratic Convention, UAW head threatens strike against Stellantis
President Shawn Fain accused the company of reneging on promises to restart a now-closed assembly plant in Belvidere, Illinois, just over an hour northwest of Chicago.
Regulators stand by decision that 50M air bag inflators are dangerous
The decision Wednesday by the National Highway Traffic Safety Administration could lead to a huge recall despite opposition from automakers.
To cut costs, Stellantis makes buyout offers to U.S. white-collar workers
In a statement Tuesday, Stellantis said it faces inflationary pressures at the same time as it tries to make affordable vehicles for its customers.
Automakers hit ‘significant storm’ as buyers reject lofty prices at time of huge capital outlays
Each auto company has unique problems, but common to many are growing stockpiles of pricey vehicles on dealer lots, requiring increased discounts to sell them to buyers with stressed-out household budgets.