Tag: top automotive news

Automotive News

Queenston Automotive Group buys Mazda store in Guelph, Ont.

Queenston Automotive Group buys Mazda store in Guelph, Ont.

The Queenston Automotive Group has added a fifth new-vehicle store to its growing portfolio that straddles Hamilton and Guelph, Ont.

The dealership group said it closed on the purchase of Guelph City Mazda, located in a large auto mall on the western edge of Guelph, on July 1. The terms of the deal were not disclosed.

The acquisition raises Queenston Automotive’s store count in the city about 100 kilometers west of Toronto to three. The company also owns Guelph Nissan and Guelph Infiniti, which share a rooftop just down the street from the Mazda location.

Company CEO Gordon Albini said

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Automotive News

Gen Z, millennials late on car payments as student loans loom

Gen Z, millennials late on car payments as student loans loom

Customers’ struggles to pay bills can erode the future dealership business.

“The surge in delinquencies coincides, perhaps not surprisingly, with a steep drop in new auto loans, particularly among borrowers with lower credit scores,” wrote Hoenig.

The amount borrowed for vehicles in the first quarter by consumers ages 18 to 29 fell 25 percent from the fourth quarter of 2022, the largest quarter-over-quarter decline found in the Fed’s data, according to Hoenig’s analysis. Borrowing dropped 17 percent quarter over quarter among the 30 to 39 age cohort, and 18 percent among those ages 40 to 49. But he also noted

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Automotive News

Nissan preps Canton, Miss., plant to build EVs

Nissan preps Canton, Miss., plant to build EVs

Pivoting the factory to battery vehicles is a complex endeavor.

Nissan must expand the facility’s physical footprint to accommodate the assembly of battery packs and other components.

“We will drive for more localization to reduce CO2 emissions in the supply chain,” Johnson said.

New technologies, such as laser brazing, will be introduced in the body shop to create parts that are “unique to the styling of our vehicles,” Johnson said. “We’re going to modify our onsite presses for full aluminum capability,” he said.

The assembly line will require modification rather than a rip-out.

The heaviest changes will be in trim

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Automotive News

Shyft Group CEO Daryl Adams to step down

Shyft Group CEO Daryl Adams to step down

“Serving as the CEO of Shyft has been the highlight of my professional career,” Adams said in the release. “Today, Shyft is well positioned in the attractive last mile delivery and infrastructure end-markets with a growing roster of innovative brands, including a cutting-edge EV platform.”

Adams won’t be leaving the company empty handed.

The CEO, who had a compensation totaling $3.4 million in 2022, has a beefy severance package worked into his contract, according to a company proxy statement filed with the Securities and Exchange Commission. The executive is set to receive approximately $4.2 million in severance benefits, including $1.3

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Automotive News

Should You Use Insurance to Replace Your Windshield: Yes or No?

Should You Use Insurance to Replace Your Windshield: Yes or No?
Smashed Windscreen

It’s likely what happened to you before: a chipped or cracked windshield. Unfortunately, this type of issue generally occurs quickly, and without any warning. In addition, chips, cracks and breaks can be big, small, easy to fix or very expensive to repair. Each situation is different and calls for a specific action.

It’s important to remember that when you experience windshield damage, seek professional automotive assistance as soon as possible. Not only is it extremely unsafe for you (and others on the road) to drive a car with a windshield that has been impaired, but small chips or cracks can

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Automotive News

GM and Ford car dealerships sell in 4 states

GM and Ford car dealerships sell in 4 states

Hunter Automotive acquires first store

Jed Hunter and John Paul Strong of newly formed Hunter Automotive purchased their first store late last year from Jeff Southworth. Hunter’s wife, Meghan Hunter, was also a buyer.

They closed on the former Southworth Ford in Marion, Ind., on Dec. 30. It was renamed Hunter Ford.

Marion is in central Indiana, north of Indianapolis.

Jed Hunter told Automotive News that he and Strong had been looking to buy a store together since a previous acquisition fell through in 2020, in the midst of the COVID-19 pandemic.

Gary Russo, president of the Team Russo firm,

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Automotive News

JLR’s new identities: Range Rover, Discovery, Defender, Jaguar

JLR’s new identities: Range Rover, Discovery, Defender, Jaguar

JLR announced Wednesday that Jaguar’s first car under its new strategy will be a four-door electric GT priced at more than £100,000 ($124,200) with a range of up to 700 kilometers (435 miles).

The absence of the Land Rover name in the rebrand created controversy on social media within the UK, with some commentators assuming JLR had dropped the storied name. However, JLR confirmed the name would continue as a badge on its SUVs to serve as a “trust mark.”

“Land Rover will remain. It is strong, well known, and we will use that collective strength to give our brands

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