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CDK Global Inc. avoided a major financial hit from the coronavirus pandemic and related economic recession as the dealership management giant ended its fiscal year. The Hoffman Estates, Ill., company on Tuesday reported revenue of $449.6 million for its fiscal fourth quarter ended June 30, down 8 percent from the same quarter a year ago.
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DETROIT — Ford Motor Co. formally launched the FordPass Rewards Visa card, which offers customers money back on vehicle-related purchases, among other perks. The credit card, which became available in July, allows cardholders to earn 5 percent back on certain Ford transactions, plus another 5 percent through the FordPass Rewards loyalty program. The card offers
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TOKYO — Toyota Motor Corp. President Akio Toyoda will create a trio of companies tasked with developing software for the next generation of smart cars. In detailing the plans, Toyoda said old business strategies no longer guarantee success in an industry being rocked by technological upheaval. Toyoda spoke here last week. These are edited excerpts.
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Tesla CEO Elon Musk says the company conducted “zero” consumer research when designing its upcoming Cybertruck. He says he doesn’t pay attention to competitors or know anything about other electric vehicles on the market. And criticism that the Autopilot name is misleading for Tesla’s driver-assist system, which has been linked to a number of accidents?
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Editor’s note: This story is part of the annual Automotive News “Future Product Pipeline” series. Nissan is in the midst of a product overhaul as the brand attempts a larger business reboot in the U.S., its second-largest market. The product offensive, which will reduce the average age of Nissan vehicles from more than 5 years
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DETROIT — Ford Motor Co. on Thursday reported second-quarter income of $1.1 billion despite a pandemic that idled its North American plants for roughly half the reporting period. The surprise profit came largely from a $3.5 billion gain on its investment in Argo AI, the company that is developing a self-driving vehicle system. Volkswagen Group
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Cox Automotive eliminated roughly 1,600 positions in North America, including 1,500 in the U.S., as the Atlanta dealership services company reorganizes and prepares to expand digital initiatives amid the coronavirus pandemic. The affected employees held corporate and field roles, Cox spokesman Chintan Talati said Wednesday. He said the majority of those cut worked for the
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DETROIT — General Motors’ first battery-electric pickup, the GMC Hummer, will be unveiled this fall after the automaker postponed the May reveal because of the coronavirus pandemic. The Hummer could better position GM to compete against off-road rivals, such as the Ford Bronco. “We look at each brand and are continuing to build on our
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Tesla Inc.’s surging stock price has already let CEO Elon Musk collect two tranches of his moonshot compensation award, valued at a collective $3.94 billion. Now he’s at most a couple of months away from securing the third, according to the company’s own estimates, lining him up for yet another multibillion-dollar payout. Barring a prolonged
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WASHINGTON — The U.S. Environmental Protection Agency’s Office of Inspector General said on Monday it will evaluate the agency’s rollback of Obama-era vehicle emissions requirements. In May, Senator Tom Carper, D-Del., who sits on the Senate Environment and Public Works Committee, asked the inspector general’s office to investigate whether EPA officials improperly circumvented the Clean
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As AutoNation Inc.’s used-vehicle sales in the second quarter eclipsed new- vehicle sales for the first time — and by more than 4,400 units — the auto retail giant has a plan to take a bigger bite of the vast and resilient used market. The company has given the green light to build 20 or
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With car sales in freefall in the U.S., Mercedes-Benz is moving to reduce its exposure in the vehicle segment. The luxury automaker plans to jettison seven car models from the U.S. market, Mercedes-Benz USA CEO Nicholas Speeks told dealers during a webinar in late June. Speeks did not identify the models or offer a timeline,
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In the early peak of the pandemic, public transit agencies across the country saw sharp declines in ridership, as did ride-sharing and bike-sharing companies. But of these forms of personal mobility, micromobility — including bikes and scooters — is most likely to bounce back, according to an analysis from McKinsey. Despite COVID-19 disruptions to the
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Dealerships must remain vigilant about the health and safety of employees and customers amid the coronavirus pandemic, say three groups that each have had to deal with cases of employees who tested positive for the virus. Dealers have adapted to new realities amid the pandemic, including instituting thorough safety protocols for employees such as requiring
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Ford’s best-selling F-150 pickup truck promises significant upgrades for 2021, including improved ride quality, an available hybrid powertrain, and a more refined interior with a huge touchscreen. Now, Ford is finally revealing how much the new truck will cost. The 2021 Ford F-150 will be priced from $30,635 when it goes on sale later this
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Rivian said Friday it expects to begin delivering a battery-electric pickup and battery-electric SUV to customers starting next summer. The R1T pickup will arrive first, in June; the R1S utility vehicle is scheduled to roll off the line in August 2021. The timing puts the company about six months behind original launch plans. But Rivian,
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