TrueCar to sell ALG to J.D. Power for $135 million
TrueCar Inc. agreed to sell its ALG subsidiary to J.D. Power for $135 million. The move comes as the vehicle-listings company looks to strengthen its balance sheet amid a difficult...
Tenneco posts $350M net loss in Q2; Adient loses $325M
Two major U.S. auto suppliers on Thursday reported a combined $675 million in net losses as their customers' COVID-19 production shutdowns gutted revenue for the quarter ending June 30. Tenneco...
GM kicks around an idea to seize on EV enthusiasm, report says
DETROIT -- General Motors is pondering a provocative move based on a predicament it has faced for years: Pure plays on electric vehicles are all the rage, while old-school auto...
FCA likely to recall 1M vehicles in U.S. for excess tailpipe emissions
DETROIT -- Fiat Chrysler Automobiles is considering a recall of about 1 million vehicles in the U.S. equipped with the company's 2.4-liter Tigershark engine because they may emit excess tailpipe...
Ferrari’s first plug-in hybrid delayed by virus challenges
MILAN -- The coronavirus pandemic has delayed the start of production of Ferrari’s first plug-in hybrid, the 986-hp SF90 Stradale. The SF90, which is also Ferrari’s most powerful road car...
Dura Automotive sold; Kimberly Rodriguez named CEO
DETROIT -- After emerging from bankruptcy in late May, longtime supplier Dura Automotive once again has new owners. Lexington, Ky.-based private equity firm MiddleGround Capital acquired a majority stake in...
Carvana grows revenue but reports another loss for Q2; shares surge
Used-car retailer Carvana Co. posted a relatively sharp recovery in the second quarter after getting hit by the coronavirus pandemic, but now it faces constraints similar to those of its...
Russia’s Yandex chooses Ann Arbor for long-term testing of AVs
Russian tech company Yandex came to Michigan with the hopes of showcasing its autonomous-driving systems during the North American International Auto Show in Detroit. Those plans changed amid the pandemic,...
Modern driver-assistance technology ‘far from reliable,’ AAA study says
Advanced driver assistance technology that automates steering and braking in a growing number of vehicles is not providing reliable safety benefits, a new study by the American Automobile Association showed...
VLF accuses Chinese EV startup Karma of stealing product plans
Chinese electric-vehicle startup Karma Automotive is being accused of stealing vehicle plans from a U.S. company with which it discussed a joint venture. Michigan-based VLF Automotive, a niche carmaker co-founded...