Rivian focused on long-term goals after heavy Q4 losses
Company executives said the EV maker will continue to make big investments as it rolls out a long-term business plan. For example, new versions of the R1T and R1S are...
NADA’s Mike Stanton, Alliance’s John Bozzella: Dealers, automakers ‘all in’ on electrification
"It's been great to see the car companies … recognize that the dealers are essential in the journey to electrification and that we need to get there together," he said....
VW’s Keogh: EVs means focus on staff necessary
A day after his company created an Internet sensation by revealing the European version of its ID Buzz retro-styled electric microbus, Volkswagen Group of America CEO Scott Keogh had a...
Rivian posts Q4 net loss of $2.5 billion
In a letter to shareholders, Rivian said that even with supply chain constraints the company believes it will have sufficient parts and materials to produce 25,000 vehicles this year. Without...
Hyundai’s Olabisi Boyle says dealers, factories must work together on EVs
There are a few must-do's for manufacturers, dealers and infrastructure partners in order to accelerate wider adoption. First, manufacturers need to develop dedicated EVs that fit into the segments where...
U.S. auto retail sales expected to rise slightly in 2022, forecaster says
Despite continued new-vehicle inventory constraints, U.S. retail vehicle sales should rise in 2022 with higher gross and finance and insurance profits per vehicle, according to one industry expert. Thomas King,...
Auto dealership acquisition expert Erin Kerrigan expects improved finances to last
Front-end gross profit — excluding finance and insurance revenue — rose to $2,483 on the average new vehicle in 2021, up more than $1,000, according to NADA data Kerrigan shared....
2022 NADA Show live blog: AutoNation CEO Mike Manley on EV shift; 9 things to check out
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Dealerships sold in Texas, Virginia, Delaware
Preston Automotive Group bought its first dealership in Wilmington, Del., with the purchase of Brandywine Chrysler-Jeep-Dodge-Ram on Feb. 24. The group acquired the dealership from Robert Jones and Steve Boyd,...
Volvo adds new vehicle-inspection technology for dealerships
Volvo Car USA said it will roll out camera-based scanning systems for its dealerships that can inspect cars in seconds. The scanning technology, developed by Israeli company UVeye, uses artificial...