us automotive industry news

GM could reap billions in combustion trucks and SUVs through 2035

“Arlington produced 345,000 units in 2022, and by our estimate generated about $25 billion in revenue and $4 billion in EBIT – or about 30 percent of the company’s total EBIT,” Ward told Reuters. Flint and Oshawa are expected to build a combined 360,000 heavy-duty pickups a year through 2035, according to AutoForecast Solutions (AFS). […]

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Transport technology startup funding plunged 43 percent in March

Globally, deal activity in the mobility technology sector for the fourth quarter of 2022 was going flat into 2023, Jonathan Geurkink, a senior analyst at PitchBook, told Automotive News. “We are seeing investment shift away from the activity in and around autonomous driving and the ride-hailing and last mile stuff seems to be tailing off

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Polestar launches CPO to lift dealer profitability

LOS ANGELES — Electric vehicle brand Polestar has unveiled a certified pre-owned program to help drive business to its product-starved retailers. The program launches as the first Polestar 2 electric sedans are coming off their 36-month leases. Polestar North America CEO Gregor Hembrough called the CPO program a “coming of age” moment for the Swedish

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EV plans could ignite new supplier buyouts

The pace of suppliers mergers and acquisitions could soon pick up as companies attempt to reposition themselves for the electric vehicles era and as private equity firms seek to put hundreds of billions of dollars in available capital to work. As more battery-electric vehicle programs launch, suppliers have the opportunity to “rethink everything” about their

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Car dealerships sell in New York, Iowa, New Jersey and Illinois

First-time franchised dealer buys store in New Jersey A new owner purchased his first franchised dealership a month after turning 28 in a deal that relocates the store. George Georgeadis on Nov. 28 purchased Chevrolet of Jersey City in New Jersey from Sam DiFeo and Andy Shapiro of DiFeo Auto Group, Georgeadis confirmed to Automotive

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