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John Staluppi Sr. says he has no immediate plans to retire. But the megadealer went on the hunt this year for an equity partner for his dealership group, one of the nation’s largest. Staluppi, 73, found that partner in LMP Automotive Holdings Inc., of Fort Lauderdale, Fla., a vehicle subscription provider and used-vehicle seller that

Volvo Car USA’s newest crossover signals the next chapter of the Swedish automaker’s evolution. The 2021 Volvo XC40 Recharge P8, arriving in U.S. stores early next year, is the awkwardly named vanguard of a portfolio of emissions-free models. “Electrification by far is the highest priority in the company,” Volvo Car USA CEO Anders Gustafsson told

SHANGHAI — With the coronavirus outbreak largely contained since March in China, the local market for new passenger vehicles and light trucks has sustained growth for five straight months. But there has been little to celebrate for American brands here. Except for Tesla, demand for U.S.-brand vehicles remains subdued, leaving many of their dealers struggling

Daimler is slowly pulling back the curtain on how its line of Mercedes-Benz sports cars will evolve as the leading luxury-vehicle maker goes electric. CEO Ola Kallenius has dropped hints this month that Mercedes plans to challenge brands including crosstown rival Porsche by introducing plug-in performance models. He told German monthly Manager Magazin in an

The streets of Miami and South Beach are filled with luxury and exotic vehicles. But few are Alfa Romeos.  Breaking into the chic market has been an uphill slog for dealers since the Italian brand’s U.S. return in 2014, and a group of Alfa Romeo dealers in the area have been working for more than

Automakers are investing billions of dollars to bring new electric vehicles to consumers in the U.S. and other global markets, but their success hinges on securing the most critical and expensive component: the battery. A handful of companies based in China, Japan and South Korea make automotive-grade battery cells, which has upset the traditional dynamic

Nissan North America is repositioning some senior leaders as the automaker works on a turnaround of the U.S. business. Two top executives will swap roles as part of the reorganization, Nissan told dealers Thursday in an email obtained by Automotive News. Nissan confirmed the moves, which take effect Nov. 1. Judy Wheeler, 58, will oversee

Continental is exploring a sale of its turbocharger unit as the German supplier conducts a major restructuring to stem losses, according to people familiar with the matter. Europe’s second-largest car-parts supplier is working with Citigroup Inc. on the disposal, the people said, asking not to be identified discussing confidential information. The business is no longer

NEW YORK — CarLotz Inc., a U.S. consignment store for used vehicles, is nearing a deal to go public through a merger with blank-check acquisition company Acamar Partners Acquisition Corp. at a valuation of close to $830 million, including debt, people familiar with the matter told Reuters on Wednesday. The deal would make CarLotz the

The Italian sports-car brand De Tomaso Automobili, which is planning a revival with the P72 supercar, said it is moving its operations to the U.S. from Europe. De Tomaso will build the P72 in North America and is “deep” in discussions with multiple states as potential locations for U.S. operations including production, design and corporate

DETROIT — Hummer is back, and so is its six-digit price tag. For $112,595, the 2022 GMC Hummer Edition 1 unveiled Tuesday comes with underbody armor and cameras, a removable Infinity Roof and a battery range of more than 350 miles via three electric motors. Production of the Edition 1 is scheduled to begin in

Volkswagen Group’s proposed $3.7 billion bid to acquire the assets of Navistar International could eventually have interesting implications for SUV and pickup fans — as well as dealers. The International brand didn’t always just make semitrucks, school buses other large industrial work vehicles. It was an SUV pioneer that had the misfortune of exiting the

TOKYO – Genesis unveiled a midcycle update of the G70 compact sedan that adds powertrain tweaks, such as a new built-in drift mode, on top of fresh styling in the front and rear. The face-lifted G70 carries over the three engines it offers worldwide, a turbocharged 2.0-liter four-banger, a twin-turbo 3.3-liter V-6 and a 2.2-liter

Editor’s note: All currency figures in this story have been translated from Canadian dollars to U.S. dollars at current exchange rates. Fiat Chrysler Automobiles workers represented by Unifor ratified a new three-year contract that includes up to $1.1 billion in planned investments in Canada, the union said Monday. The union said 78 percent of FCA

The name Hyundai translates into English as “modernity.” And now, the South Korean automaker has a new chairman who embraces that forward-looking spirit of change and improvement, just as it grapples with an age of industry upheaval. Even before being tapped last week as the new leader of Hyundai Motor Group, Euisun Chung was a

Editor’s note: All dollar figures in this story have been translated from Canadian currency into U.S. dollars at current exchange rates. Unifor leaders on Sunday urged Fiat Chrysler Automobiles workers to ratify a tentative contract that includes pay raises, changes to the new-hire pay grid and plans from the automaker to invest between $1 billion

TOKYO — In the criminal trial of former Nissan director Greg Kelly here, testimony has painted a picture of Nissan officials going to extremes to avoid public scrutiny of Carlos Ghosn’s handsome executive compensation. According to testimony in the government’s case against the former human resources executive, a group of top brass — including a

TOKYO — Just as critics were wondering about the viability of General Motors’ fuel cell truck partnership with electric heavy-truck startup Nikola, two Asian competitors jumped headlong into the segment. This month, Hyundai and Toyota each unveiled plans to ramp up development and commercialization of hydrogen-fueled commercial vehicles to be launched from North America to

Billionaire Robert F. Smith has been hailed as a brilliant investor who built Vista Equity Partners into a private equity powerhouse and a generous philanthropist lauded for paying off the student debt of Morehouse College’s entire graduating class last year. But federal prosecutors undercut that image on Thursday, saying Smith concealed income and evaded taxes

DETROIT– General Motors’ Detroit-Hamtramck assembly plant in Michigan is getting a new name — Factory Zero — marking a commitment to an all-electric, zero-emissions lineup. The plant will become the automaker’s electric-vehicle hub, building the GMC Hummer pickup and Cruise Origin, a self-driving, electric shuttle developed by Cruise, GM’s self-driving subsidiary in San Francisco. GM

Nikola Corp.’s CEO sees a path ahead for his company even if the embattled electric-truck startup is unable to come to terms with General Motors on a proposed strategic partnership. Talks between the two companies are ongoing, but if a tentative technology-sharing and manufacturing deal announced last month falls apart, Nikola will revert to a

TOKYO — U.S. auto sales may take three years to recover to pre-coronavirus pandemic levels even as sales continue to rebound from an April low, the CEO of Japanese automaker Subaru Corp. said Thursday. “The feeling of Subaru America is that a return to the 17 million vehicle level could take two to three years,”

Asbury Automotive Group said Wednesday it expects to report a rise in adjusted net income of more than 70 percent on a per-share basis for the third quarter. The increase comes in the wake of Asbury’s August purchase of Park Place Dealerships, the largest acquisition in company history. Asbury, the seventh-largest U.S. dealership group as

British electric vehicle startup Arrival said Wednesday it has raised $118 million from U.S. funds manager BlackRock Inc. Five-year-old Arrival is focused on development of electric commercial vehicles, including vans and buses. It previously had raised $111 million from Korean automaker Hyundai Motor Co and sister company Kia Motors Corp., as well as an undisclosed

Euisun Chung, scion of the Hyundai Motor Group’s founding family, has been appointed chairman of the South Korean auto giant, taking the reins from his father as the carmaker drives into an era of electrification, automated driving and new mobility. The younger Chung, 49, previously the auto group’s executive vice chairman, was promoted to chairman

SEOUL– Hyundai Motor Group’s executive vice chairman Euisun Chung is set to be made chairman of the South Korean automaker as soon as Wednesday, Yonhap news agency reported, as he formally takes over the reins from his octogenarian father. Hyundai Motor plans to hold a board meeting possibly on Wednesday to promote Chung to chairman

LMP Automotive Holdings Inc., an emerging public auto retailer and subscription provider, said it agreed to purchase a majority stake in New York’s largest dealership group in a transaction valued at $608 million. The deal, announced late Friday, would advance LMP’s aggressive acquisition goal to grow to as many as 50 franchised new-vehicle stores within

The midengine Chevrolet Corvette has hit yet another production snag: a parts shortage that will halt assembly at the Bowling Green, Ky., plant this week. General Motors paused production of the 2020 Corvette beginning Monday, spokesman Kevin Kelly said. “Due to a temporary parts supply issue, we can confirm that Bowling Green Assembly will not

TOKYO — From his glass-walled office high above central Tokyo, James Kuffner keeps a running computer file of “crazy ideas” for whenever a moment of genius strikes. Toyota’s newest board member and resident robotics wizard gets lots of bolts from the blue. One of his latest: a high-rise rooftop landing pad for flying cars that

When drivers start up the 2021 Chrysler Pacifica and Dodge Durango this fall, they’ll be introduced to the next-generation version of Fiat Chrysler Automobiles’ heralded Uconnect infotainment system. The latest iteration, Uconnect 5, runs on an Android-based operating system and has processing speeds five times faster than those of its predecessor. It enables two Bluetooth