Ferrari lifts full-year forecasts after strong Q2 results
MILAN -- Ferrari raised its forecasts for full-year revenue and core profit after posting what it described as record results in the second quarter and saying its order book hit...
Toyota affiliate’s internal probe yields rare criticism of Japan’s corporate culture
TOKYO -- A major affiliate of Toyota Motor Corp. falsified emissions data on some engines going back to at least 2003, more than a decade earlier than previously indicated, a...
Congress’ climate bill would hurt Rivian, company says
While Rivian applauds the intention of the pending bill, “as currently drafted, this legislation will pull the rug out from consumers considering purchase of an American-made electric vehicle,” said Chen,...
Asbury back in the market to buy car dealerships
Asbury Automotive Group Inc. executives say the retailer has cut enough debt from its books to resume buying dealerships.Asbury CFO Michael Welch told analysts last week that the retailer didn't...
Stellantis unit sentenced in U.S. diesel emissions probe, must pay $300M
WASHINGTON -- Stellantis' U.S. unit, the former Fiat Chrysler Automobiles, was sentenced Monday after pleading guilty in June to criminal conspiracy and will pay nearly $300 million to resolve a...
Why GM wants to penalize Corvette, Hummer, other buyers who resell high-demand vehicles within 12 months
DETROIT — General Motors is asking dealers to help prevent customers from quickly flipping high-demand vehicles and adding exorbitant markups. The automaker is barring customers who resell certain high-demand vehicles...
Michigan Gov. Gretchen Whitmer says microchip bill could turn state into auto chip hub
Following the passage of the semiconductor bill by Congress last week, Gov. Gretchen Whitmer said Michigan hopes to become a hub for microchip manufacturers that supply the auto industry. Whitmer,...
Carvana wins temporary injunction against Illinois, can resume business in state for now
An Illinois judge on Friday granted Carvana Co.'s request to halt the Illinois Secretary of State's latest revocation of its license to sell vehicles in the state. The development comes...
How the labor shortage is fueling a big U.S. expansion at Fanuc Robotics
DETROIT -- Fanuc Corp., one of the world's largest suppliers of automotive assembly robots, is planning to grow its Michigan presence by more than a third to 2 million square...
CEO David Smith named chairman of Sonic Automotive; former CEO Scott Smith returns to board
The regulatory filing noted that Scott Smith is a "greater than 10 percent beneficial owner of the company." Scott Smith's term on the board is set to expire at Sonic's...