Ford postpones deadline for dealers to decide on EV outlays
DETROIT — Ford Motor Co. is giving its dealers an extra month to decide whether they will agree to invest up to $1.2 million and follow other new standards the...
Jury orders Ford to pay $105 million to software company
NEW YORK - A federal jury in Detroit ordered Ford Motor Co to pay Versata Software Inc $104.6 million in damages for breaching a 2004 licensing contract and misappropriating trade...
2023 could be active year for state dealer franchise legislation
Next year may shape up to be an active year for dealer franchise legislation in state capitals. Don Hall, CEO of the Virginia Automobile Dealers Association, said Thursday during a...
Tesla recalls 24,000 Model 3s in U.S.
WASHINGTON - Tesla Inc is recalling a bit more than 24,000 2017-2022 Model 3s in the U.S. over a seat belt issue. The Austin-based electric vehicle company said the second-row...
EV battery materials’ next frontier: Ocean floor
The USGS is studying the effects of mining to help the International Seabed Authority determine what environmental protections are needed. "It's important to realize that all types of mining have...
Car dealers should be careful in changing used-car market
CHICAGO — The market conditions in which used cars and trucks appreciated in price and sold like hotcakes last year look to be slowly dissipating.As general inflation and higher interest...
Larry H. Miller Hyundai Peoria is Best Dealership To Work For
CHICAGO — Larry H. Miller Hyundai Peoria in Arizona has topped the list of the Automotive News Best Dealerships To Work For, an honor announced Thursday at the Four Seasons...
Car dealership acquisitions may pick up again
Mark LaNeve, chairman of Franchise Equity Partners, agreed, saying as business normalizes, more sellers will enter the market. Profits in 2021 and 2022 gave dealers a pause on selling, LaNeve...
Sonic Automotive posts record Q3 revenue, net income
Despite a drop in used-vehicle sales at Sonic Automotive Inc.'s growing EchoPark brand and declines in new- and used-vehicle sales on a same-store basis at its franchised dealerships, the retailer...
Penske Automotive faces some used-car pressure
CHICAGO — Penske Automotive Group Inc. is realizing when to pivot on certain strategies. Take its standalone used-car business CarShop, for instance. Keeping in stride with an ever-evolving market...