Hyundai, Kia Global Sales Drop in May Due to Pandemic

Hyundai, Kia Global Sales Drop in May Due to Pandemic

Automakers around the globe are finalizing the count on how many vehicles they sold in May and South Korean automakers Hyundai Motor Co. and Kia Motors said its initial results showed their global sales fell by double-digit percentages. Hyundai report its sales fell...
Volkswagen Making $2B Wager on China’s EV Market

Volkswagen Making $2B Wager on China’s EV Market

Volkswagen AG is betting big – more than $2 billion – that the Chinese electric vehicle market – the largest in the world – will rebound, leading to growth for its burgeoning line-up of electric vehicles and ultimately to more profits. The German automaker announced...
Ford Brings Back the Mustang Mach 1

Ford Brings Back the Mustang Mach 1

With the exception of the Mustang, Ford has all but abandoned the passenger car market—but it’s more than making up for that gap, it seems, by rolling out a steady stream of pony car variants for seemingly every possible buyer. We’ve already seen new versions of the...
McLaren Sees Q1 Loss Balloon to $164.3M Due to Pandemic

McLaren Sees Q1 Loss Balloon to $164.3M Due to Pandemic

Super car maker McLaren Group is the latest automaker to highlight how hard the global pandemic has been on the industry, reporting its pre-tax loss in the first quarter jumped to 133 million pounds, or $164.3 million, from just 18 million pounds, or $22.2 million,...
Memorial Day New Car Sales Surge Never Materialized

Memorial Day New Car Sales Surge Never Materialized

The Memorial Day weekend is always a big one for the U.S. auto industry and was expected to be particularly strong this year, the industry anticipating a surge in demand thanks to hefty incentives and the end of pandemic lockdowns in much of the country. The problem...
Stocks Surge as Renault-Nissan Move to Save Alliance

Stocks Surge as Renault-Nissan Move to Save Alliance

After months of decline, shares of the three automakers forming the Renault-Nissan-Mitsubishi Alliance surged sharply on global exchanges Wednesday. Shareholders signaled their satisfaction with plans to save the long-running partnership that had been teetering on...
May Sales to Drop as Fleet Sales Collapse

May Sales to Drop as Fleet Sales Collapse

New vehicle sales are expected to drop by almost a third in May, dragged down by the collapse of fleet sales highlighted by the recent bankruptcy by Hertz. ALG Inc., a subsidiary of TrueCar Inc., expects new vehicle sales will reach 1.008 million units in May 2020,...