Longtime KAR Global leader Jim Hallett stepping down as CEO
Peter Kelly, who joined the company in 2011 when he sold KAR Auction Services his 11-year-old online vehicle auction firm Openlane, has been named CEO.
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U.S. safety agency investigating engine fires in top-selling Toyota SUV
A Toyota spokesman would not answer questions about whether the SUVs should be parked outdoors until the matter is resolved, but said the company is cooperating in the probe.
New or used? Either way, price hikes squeeze U.S. auto buyers
The price of an average new vehicle jumped 6% between January and December 2020, to a record $40,578, according to data from Edmunds.com. Yet, that increase was nothing next to what happened in the used market.
GM’s Chevy Bolt SUV joins parade of new U.S. electric vehicles
The Bolt will bring the total number of EVs on sale in the U.S. to at least 23, and Edmunds.com expects that figure to reach 30 this year.
Tesla buys $1.5B in Bitcoin, will accept as payment soon
Tesla is in a unique position to accept digital currencies for payment, since the automaker does not rely on a network of independently owned dealerships to sell its vehicles unlike traditional car companies such as General Motors and Ford.
Fiat Chrysler agrees to plead guilty, pay $30M in UAW probe
Company representatives gave more than $3.5 million in cash and other things of value to senior officials at the United Auto Workers, federal prosecutors in Detroit said as they charged FCA with conspiracy from 2009 to 2016.
Fast-growing startup to add 225 jobs, expand Carmel headquarters
Kinetic Advantage, which helps finance inventory for independent car dealers, launched last July, but has already grown to 65 employees and is operating in 26 markets.
A year of poor planning led to carmakers’ massive chip shortage
Carmakers with more software and chip expertise are set to face a smoother ride, while those whose traditional strength is metal-bending are potentially more prone to supply hiccups.
GM teams up with Microsoft on driverless cars
In the partnership announced Tuesday, the companies said Microsoft’s Azure cloud and edge computing platform would be used to “commercialize its unique autonomous vehicle solutions at scale.”
GM charges up new unit to sell electric delivery vans, gear
The first product for the new venture called BrightDrop will be an electric-powered wheeled pallet that will take goods from the warehouse to trucks and from trucks to destinations. Then GM will roll out a clean electric delivery van.
Late sales rebound helps U.S. automakers avoid 2020 disaster
Sales of new vehicles in the U.S. fell 14.6% last year, but the 2020 performance was better than most forecasters had expected when the pandemic forced auto factories and many dealerships to shut down in April and May.
Autotrader parent acquires Indianapolis-based Dickinson Fleet Services
Dickinson has about 1,000 employees overall, including 200 in Indianapolis. It operates 18 nationwide service centers and a fleet of more than 700 mobile repair units.
Fiat Chrysler, Peugeot shareholders approve merger
The merged company, to be called Stellantis, will be the world’s fourth-largest auto business. The merger combines legacy car companies that helped write the industrial histories of the United States, France and Italy.
GM: New batteries cut electric car costs, increase range
General Motors says a pending breakthrough in battery chemistry will cut the price of its electric vehicles so they equal those powered by gasoline within five years.
Mazda No. 1 in Consumer Reports 2020 auto reliability survey
Mazda took top honors for the first time in the survey, which this year included Consumer Reports organization members who own more than 300,000 vehicles from model years 2000 to 2020.
Firm planning to close 100-worker auto parts factory
Eaton Corp. has notified state officials that it intends to begin layoffs at the Auburn factory in February.
KAR Global to expand digital auction options with $425M acquisition
KAR Global plans to expand upon the online automotive auction services it provides through TradeRev by acquiring BacklotCars’ longer-term online auctions, which allow dealers to bid on cars over the course of several days.
Allison Transmission calls new $34.5M test center a ‘game-changer’
The new center, on the manufacturer’s Speedway campus, can simulate extreme heat and cold as well as a variety of altitudes and road conditions.
Direct foreign investment in Indiana now a key economic driver
After decades of skepticism, pretty much every Indiana political entity, from small towns to the Governor’s Office, strives to persuade overseas businesses to launch operations in the state,
Cummins to form joint venture with hydrogen storage company
The announcement marks the latest in a series of steps the Columbus-based engine maker has taken in recent years to diversify its offerings in alternative-energy power systems.