by Paul A. Eisenstein | Jul 6, 2020
While Mercedes-Benz and Cadillac may have scrapped their subscription services, these low-commitment options are still being offered by at least nine other manufacturers – as well as several third-party vendors. These services, which offer flat-rate, all-inclusive...
by Paul A. Eisenstein | Jul 6, 2020
Mercedes-Benz is canceling its two-year-old subscription service, the Mercedes Collection, the latest automaker to pull back on a concept some have brightly proclaimed the future of the automotive business. Not all subscription services are the same, though Mercedes...
by Joseph Szczesny | Jul 6, 2020
Mercedes-Benz is pushing ahead with what the company describes as its “electric first” strategy by taking an equity stake in a Chinese maker of battery cells – Farasis Energy. The announcement of the new partnership represents another “important milestone towards...
by Michael Strong | Jul 3, 2020
Tesla may have the biggest market cap in the automotive industry right now, but is the value of an carmaker determined by stock price alone? At least one group believes so, and it thinks that Toyota is still No. 1 — and Tesla is No. 4. Market research company Kantar...
by Joseph Szczesny | Jul 2, 2020
The second day of sales results saw the final member of the Big Three – Ford – report second quarter results that mimicked those of their Detroit-based rivals: down. Ford’s overall Q2 sales were down 33.3%, the company revealed, adding that its retail business...
by Michael Strong | Jul 1, 2020
The extended run up of Tesla’s stock carried it past its Detroit rivals some time ago, but the push into its current territory above $1,000 a share has helped it topple the “king” – Toyota – as the world’s most valuable automaker. The move could be seen by many,...
by Joseph Szczesny | Jul 1, 2020
Car sales plunged across the board during June, capping off the auto industry’s worst quarter in decades as the economic shutdown brought on by the pandemic battered sales of new vehicles in the U.S. General Motors said its sales dropped 34% in the second quarter...
by Paul A. Eisenstein | Jul 1, 2020
The game is about to change for the North American auto industry as the new USMCA trade pact officially goes into effect. Formally known as the U.S.-Mexico-Canada Agreement, it replaces NAFTA, the three-nation deal that had encouraged the development of an essentially...
by Joseph Szczesny | Jul 1, 2020
The United Auto Workers and the U.S. Attorney’s office in Detroit will continue to discuss ways to reform the union in the wake of the initial meeting between UAW President Rory Gamble and Matthew Schneider, the U.S. attorney for the Eastern District of Michigan. The...
by Michael Strong | Jun 29, 2020
Automakers continue to find ways to try to become part of social change as Ford Motor Co. is pausing all advertising on social media platforms in the U.S. for the next 30 days, calling for an end to hate speech and other racially insensitive actions there. The...
by Paul A. Eisenstein | Jun 29, 2020
There will be no Geneva International Motor Show next year, organizers pointing to concerns that the coronavirus pandemic could drag on into 2021. The annual Swiss gathering was the first car show of the year to be canceled due to the eruption of the coronavirus...
by Paul A. Eisenstein | Jun 29, 2020
(This story has been revised to note the correct number of CarMax employees.) About 300,000 employees at U.S. franchised dealerships were terminated or furloughed due to the coronavirus pandemic. While some have returned to work as retail sales rebound, the crisis is...
