About 5K GM salaried workers take buyouts, avoiding layoffs
The decision to offer buyouts comes at an uncertain time for the auto industry, which is in the midst of a transition from internal combustion to electric vehicles.
The decision to offer buyouts comes at an uncertain time for the auto industry, which is in the midst of a transition from internal combustion to electric vehicles.
Supplies improved and sky-high prices eased a bit while the global shortage of computer chips started to wane. To keep sales rolling, automakers might have to offer subsidized loan rates.
Hallett is retiring from his positions as executive chairman and board chairman, the Carmel-based company announced Friday. He will remain a member of KAR’s board of directors.
With the supply of used vehicles failing to keep up with robust demand, prices are creeping up again, with signs pointing to further increases ahead.
Ford Motor Co.’s electric vehicle business has lost $3 billion before taxes during the past two years and will lose a similar amount this year as the company invests heavily in the new technology. Those figures were released Thursday as Ford rolled out a new way of reporting financial results.
The move of Accord production to Greensburg comes as Honda prepares for the production of electric vehicles and components primarily at facilities in Ohio.
The National Highway Traffic Safety Administration has been scrutinizing Teslas more intensely, seeking several recalls and opening investigations.
Stellantis employs about 7,000 people at plants in Kokomo and Tipton in Indiana.
The aim is to give EV owners more freedom to travel, and it will include at least 3,500 of Tesla’s Supercharger stations—which tend to be near highways—as well as its slower Level 2 “destination chargers” at locations such as hotels and restaurants.
Gabby Bruno, director of economic development for Ford, said there was “no lack of competition for this project.” She said Michigan “competed against numerous states and countries” to secure the investment.
Honda had also considered Greensburg, Indiana, as a possible site for the plant before deciding on Ohio.
Consumer worries about high prices, sparse charging infrastructure and the risks of road-testing new technology are still obstacles to mainstream acceptance, analysts and car buyers say.
Without cost reductions, EVs will be too expensive for the middle class, shrinking the market and driving costs up more, CEO Carlos Tavares told reporters Thursday at the CES gadget show in Las Vegas.
Shortages of computer chips and other parts continued to hobble the U.S. auto industry last year, contributing to vehicle sales dropping to their lowest level in more than a decade.
Finalized this week for an undisclosed price, the purchase makes Champion Chrysler Dodge Jeep Ram at 4505 W. 96th St. the Mohr company’s 12th dealership.
Soulbrain MI, a subsidiary of South Korea-based Soulbrain Holdings, announced Tuesday it will hire 75 employees for the 30,000-square-foot manufacturing facility in Kokomo.
Overfuel, which had its public launch this week, is targeting small- to medium-sized independent car dealers, offering them software that helps them streamline their websites and glean more information about customers’ online activities.
The investment will be used to support additional production of electric vehicle drive unit castings ahead of what GM anticipates will be strong demand for the Chevrolet Silverado EV and GMC Sierra EV full-size pickup trucks.
Carvana had been growing quickly as used car prices soared after the pandemic. But it has been caught in an environment where rising interest rates and high prices have sent many potential used car buyers to the sidelines.
The latest fatalities bring the death toll from exploding Takata air bags to at least 32 worldwide, including 23 in the United States.