by Michael Strong | Jun 11, 2020
BMW’s big gamble in the U.S. 26 years ago continues paying off with the most recent “win” being the 5 millionth vehicle built that rolled off the line at its plant in Spartanburg, South Carolina. The milestone vehicle is a Toronto Red Metallic BMW X5 M Competition...
by Paul A. Eisenstein | Jun 11, 2020
Like its major competitors, Toyota has been hard hit by the coronavirus pandemic and the economic chaos it has triggered around the world, but the automaker’s Chief Executive Officer Akio Toyoda advised shareholders on Thursday that he expects to see the Japanese...
by Joseph Szczesny | Jun 11, 2020
Even as carmakers pull back some new products in the face of the COVID-19 pandemic, the BMW Group is pushing ahead with its electrification strategy, confirming plans to release the BMW iX3 by the end of 2020. Production of the BMW first pure electric model will get...
by Paul A. Eisenstein | Jun 10, 2020
(This story has been updated with additional details on the number of product delays, as well as new comments by analyst Jeff Schuster of LMC Automotive.) Hammered by the coronavirus pandemic – which has sent both sales and revenues tumbling and kept most designers...
by Michael Strong | Jun 10, 2020
This story has been updated with additional information. Ford Motor Co. and Volkswagen AG are moving forward on the next stage of their partnership, developing midsize pickups and commercial vans, targeting sales of 8 million units. The pair will work to develop two...
by Paul A. Eisenstein | Jun 10, 2020
The coming year will see a flood of new battery-electric vehicles rolling into U.S. showrooms, including the Ford Mustang Mach-E, the Volkswagen ID.4 and the Cadillac Lyriq. The latter is one of 20 new BEVs General Motors plans to roll out by 2023, but despite the...
by Joseph Szczesny | Jun 10, 2020
The headline in this story has been revised to more accurately reflect the story’s content. The German government is moving ahead with a stimulus package that includes generous help for electric vehicles. Angela Merkel, Germany’s chancellor, said the package,...
by Paul A. Eisenstein | Jun 9, 2020
This was supposed to be a big week for the auto industry, the North American International Auto Show making its move from its classic winter schedule to spring. The coronavirus pandemic may have forced organizers to postpone the debut event until 2021, but some...
by Michael Strong | Jun 9, 2020
Battery-electric vehicles comprise less than 5% of all new vehicles sold in the U.S., but that number is expected to rise to 50% by 2035 due in part of improving battery performance and falling prices. Lux Research’s new report, “The Electric Vehicle Inflection...
by Paul A. Eisenstein | Jun 9, 2020
It’s been a devastating year for the auto industry. The coronavirus pandemic is expected to result in a global sales decline of at least 20%, even as automakers wrack up record debt and fall into what one recent study described as a “profit desert.” Few companies have...
by Joseph Szczesny | Jun 9, 2020
Jaguar Land Rover is the latest automaker to look for additional credit to help it get through this sales downturn created by the COVID-19 pandemic; however, instead of using what many consider “conventional” banking partners, JLR secured a $705 million line of credit...
by Paul A. Eisenstein | Jun 8, 2020
Herbert Diess has been replaced as head of the Volkswagen brand, a post he has held since 2015, a move announced by the German automaker just days after a U.S. court cleared the way for new lawsuits targeting the German automaker in the wake of its diesel emissions...
