General Motors has rolled out BrightDrop, moving them further into the business of first-to-last-mile products, software, and services for delivery and logistics.
“BrightDrop offers a smarter way to deliver goods and services,” said Mary Barra, GM Chairman and CEO.
Lordstown Motors announced on Monday that they had exceeded 100,000 pre-orders for their Endurance light-duty, all-electric pickup, slated to begin production in September.
Kia Motors America is looking for a new number two behind Sean Yoon, president and CEO of Kia Motors America, because as reported by Automotive News, COO Bill Peffer quit one week into the job.
Mark LaNeve is departing Ford after nearly four decades of sales and marketing in the auto industry, having held a number of leadership roles at General Motors and Volvo Cars in North America.
Mike Manley will head Americas operations for Stellantis, as FCA chairman John Elkann said in a letter to employees today.
Lincoln and Mini are the top-rated brands in sales experience satisfaction, according to J.D. Power. Lincoln ranked the highest in sales satisfaction among luxury brands, and Mini ranked the highest among what Power calls mass-market brands.
Vroom, an emerging e-commerce player in buying and selling used cars, has announced the acquisition of CarStory, itself another used car platform. CarStory’s AI-powered analytics and digital services are what attracted Vroom, through the purchase of Vast Holdings, Inc., CarStory’s parent company.
Ferrari CEO Louis Camilleri has abruptly resigned from the company with the official announcement providing few details to build upon. Despite numerous news outlets fixating on his testing positive for COVID-19 and subsequent hospitalization, Ferrari failed to mention it in the release. But Reuters had reported that an inside source had claimed Camilleri, 65, had suffered health complications that required him to be hospitalized for weeks, adding that he was also stepping down as executive chairman of Philip Morris International.
However, he’s now said to be recovering at home and the coronavirus diagnosis apparently had nothing to do with his decision to retire. Ferrari only cited “personal reasons” and stated it had already begun considering his replacement, noting that it had no intention of rushing the process.
The 2021 Chicago Auto Show will be delayed until sometime in the spring of 2021 because of the COVID-19 epidemic that has forced the entire world to pretty much cancel everything. Of course, we didn’t need to tell you that because the pandemic has been the default reason or excuse (depending on the situation) for literally every decision that has taken place in 2020.
Originally scheduled to be held between February 13th and 21st, the event will now be held sometime in the spring. The Chicago Auto Show’s official website has been updated to represent the change but lacks any specifics that might help people actually plan a trip to the venue. It only reads “Spring 2021” before listing the address and ticket prices, requiring some clarification from organizers.
SEMA, the Specialty Equipment Market Association, has released its Fall 2020 State of the Industry report, which denotes the health of the automotive aftermarket despite the disruption caused by COVID-19. This report provides companies with the information needed to make good business decisions, not to put a positive spin on a time of uncertainty.
On Monday, General Motors and Nikola Corp announced a revamped agreement that eliminates an equity stake in the startup for the Detroit automaker and nixed any plan for manufacturing Nikola’s electric pickup truck. This makes the keystone of the revised contract their collaborative work on fuel-cell development, represents a major setback in their partnership, and makes GM management look like rubes for having announced a sizable commitment that had to be walked back after a short seller claimed Nikola was fraudulently representing itself.
Despite having much to gain by torpedoing the EV startup’s curiously high share price, the associated Hindenburg report raised serious questions about exactly how much progress Nikola had made. The short seller effectively accused the company of fraud, something Nikola denied. Though subpoenas from the Securities and Exchange Commission and Department of Justice still began arriving at its offices in late September. Founder and former executive chairman Trevor Milton stepped down around this period. At the time, the company said it was cooperating with the investigations “and will continue to cooperate, with these and any other regulatory or governmental requests.”
The merger between Fiat Chrysler Automobiles and PSA Group is reportedly progressing smoothly, with the involved parties announcing general meetings for their respective shareholders on Wednesday. Scheduled to take place on January 4th, the summit is being held “in order to approve the merger of their companies to allow the creation of Stellantis, which will become the world’s fourth largest automobile manufacturer by volume,” according to a joint release.
Daimler Chairman Ola Källenius went against the grain on Thursday by admitting the company he’s been tasked with overseeing will become significantly smaller in five years. That’s normally not the kind of thing you want to telegraph to shareholders via the media but he’s convinced this is the best course of action for the business.
“The next five years we will become a smaller company,” Källenius told Reuters. “We will have a fundamental change in the industrial footprint on the powertrain side.”
The future of Daimler apparently involves a half-decade metamorphosis into a services-focused software company that just so happens to build vehicles. But the vehicles won’t be those internal-combustion jobs that you grew up around. Instead, they’ll be hyper-efficient electrics from Mercedes-Benz as it re-imagines luxury within the strict confines of environmental sustainability. As a byproduct, Daimler will need fewer employees to help manufacture automobiles. Read More >
General Motors is stopping production of the Chevrolet Corvette for the rest of the week after Mexican suppliers once again found themselves having to contend with the pandemic. While Johnson & Johnson’s Janssen unit has been given the go ahead to begin late stage trials for its coronavirus vaccine in Mexico, the nation has introduced new restrictions as the country reported a spike in infections last month.
On Wednesday, GM spokesman David Barnas informed The Detroit News that Bowling Green Assembly in Kentucky will be closed for Veterans Day but remain closed through the weekend due to supply chain issues. The manufacturer does not see this as turning into a prolonged idle period for the Corvette, but we’re wondering about other models — and not just those manufactured by General Motors. While Mexican suppliers are supposed to rebound swiftly, Europe has also instituted new lockdowns that could affect supply chains if they’re extended.
Tesla continued to prove itself as the electric automaker par excellence by posting its fifth profitable quarter in a row on Wednesday. The California-based (for now) automaker reported a net income of $331 million and a 39 percent improvement in revenue to $8.8 billion.
Of course, a huge amount of that money came via regulatory credits Tesla sold to its rivals. By nature of being an EV manufacturer, the company was able to sell $397 million in environmental absolution while helping its own bottom line. Though third-quarter deliveries were quite strong as automotive revenue jumped 42 percent to $7.6 billion.
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