The Illinois deal is not a cash infusion, but includes $75 million from a deal-closing fund and $634 million in tax incentives over 30 years, with a commitment to maintain at least 6,000 jobs.

This move diverts from an initial plan to build in Georgia, aiming for quicker market entry and saving $2.25 billion by consolidating production in Illinois.

The company adds that it has invested $2 billion in Normal which has generated $3.9 billion of “value add” for the local economy. 

Rivian CEO R.J. Scaringe said, "Gov. Pritzker has always been a strong advocate for providing economic opportunities for Illinois residents and business owners alike," 

"This is a key opportunity for aftermarket providers to not only compete with franchised dealers on price but also to add customer value with a quicker and easier service experience," noted Leonard Martin from J.D. Power.

Younger customers, particularly Gen Z, report lower satisfaction levels with aftermarket services; J.D. Power suggests enhancing advisor interactions to build trust and loyalty, emphasizing the potential for aftermarket providers to secure long-term customer relationships through satisfying service experiences.

Providing photo or video documentation of recommended repairs significantly increases customer approval for the work: 51% of customers who receive such documentation proceed with the suggested repairs, compared to only 24% who do not receive this visual confirmation.

However, franchised dealerships were rated as more trustworthy in areas such as utilizing technology to enhance service efficiency and their capability to handle complex vehicle repairs, showing higher customer trust and satisfaction scores in these specific aspects compared to aftermarket service providers.

Diner opinions are mixed, with some appreciating the potential for a simplified billing process, while others worry about potential price increases as restaurants adjust to the new law.

The law aims to prevent customers from double-tipping an

The Q1 net income of $49 million, marking a major shift from last year's $286 million loss. The figure includes a $75 million gain from stock warrants in Root Inc. Without that, there would have been a $26 million loss posted. Still, the best results in the history of the company. 

Carvana sold 91,878 used vehicles, an increase of 16% year-over-year, signaling robust demand for its online vehicle retail model.

Despite strong sales, inventory shortages continue, with vehicles listed for an average of 13 days on its website before purchase.

CFO Mark Jenkins noted that the inventory situation is limiting sales volumes and the company plans to increase production to enhance vehicle selection for customers.

"This quarter validates our belief in the potential of online retail to drive industry-leading profitability and customer experiences," said CEO Ernie Garcia.

Faced with unexpected high maintenance costs and rapid depreciation, the company plans to sell an additional 10,000 EVs beyond its initial projection of 20,000.

Hertz reported a $392 million loss for the first quarter, despite a revenue increase of 2%. Depreciation charges significantly contributed to this financial downturn.

Originally, Hertz had committed to purchasing 100,000 Teslas post-pandemic to modernize its fleet, but the financial reality of maintaining and operating EVs has forced a strategy reversal.

When creator John DeLorean died, Stephen Wynne, a mechanic heavily involved in the DeLorean brand, secured the DeLorean trademarks in the 1990s from John’s disputed widow

Kat had all but abandoned the vehicle and had a young family and was working as a cybersecurity engineer

In 2020 Ángel Guerra crafted a modern DeLorean model during Covid lockdowns in Spain as a tribute to the iconic DeLorean DMC-12, blending nostalgia with contemporary design elements, the instagram post he made about it blew up

He reached out to Kat, and her wheels started spinning despite having shunned her automotive history as an element that destroye

The platform, designed with cinematic storytelling, covers Ford's history and detailed technical breakdowns of vehicle features.

Ford University utilizes AI to analyze dealership employees' performance, offering personalized feedback and "missions" that simulate customer interactions.

AI feedback focuses on speech nuances, use of filler words, and the accuracy of vehicle descriptions against competitors.

Launched in U.S. dealerships, the system will expand content to include technical staff by year's end.

Hybrids lead the charge: The Toyota Highlander Hybrid is the fastest-selling new car at 14.2 days on market.

Top used cars: Lexus RX 350h tops the list at 12.3 days on market, followed closely by other Lexus models.

EVs lag behind: New electric vehicles are the slowest in the new car market, taking 70.6 days on average to sell.

Used car slow sellers: Maserati and other premium brands dominate the list of slowest-selling used cars.

Slow to go: All of the slowest-selling used cars are taking 90 or more days to sell, with the top-ranked Jeep Cherokee taking more than three times the 54-day average, at 169.7 days.

The partnership introduces "Walmart Discovered" on Roblox, allowing users to buy physical products from a virtual store that mirrors Walmart's online shopping experience.

Users can try virtual versions of products on their avatars before purchasing, with all transactions securely handled via a Walmart API.

The initiative targets users 13 and older in the U.S., featuring products designed in collaboration with Roblox creators like Sarabxlla and MD17_RBLX.

The pilot, running through May, serves as a test to evaluate the potential for Roblox to facilitate physical goods sales without taking a rev

Asbury listed $242.7 million in assets, including the dealerships, real estate, and various franchise-related assets.

The group sold Koons Lexus for $102 million, aligning with Lexus' franchise limit of eight stores per dealer.

CEO David Hult highlighted a focus on selective acquisitions and maintaining shareholder value, noting a leverage ratio of 2.6 times earnings. The group currently has 157 stores

Asbury has repurchased 240,000 shares for $50 million this quarter, with plans to buy back more.

Hult said: "In the current market, there's certainly a lot of stores on the market from an M&A standpoint. But I think we really want to be extremely selective," said Hult during an earnings call.

Tesla has laid off more than 10% of its workforce, including high-profile executives and the team responsible for Supercharging infrastructure.

The elimination of the entire Supercharger team, led by Rebecca Tinucci, signals a potential pivot in Tesla's approach to EV charging infrastructure despite the adoption of Tesla's NACS plug by other manufacturers.

Alongside the layoffs, Tesla sees departures of key personnel like Drew Baglino, VP of Powertrain and Energy Engineering, underlining internal challenges and dissatisfaction.

These layoffs coincide with Tesla's request for a substantial shareholder payout, contrasting sharply with the company's financial and operational cutbacks.

Arnold's loan for the $84,000 Tahoe came with a 10.2% APR from GM Financial, leading to massive interest accrual over the loan's term.

With no down payment and negative equity from a traded vehicle, Arnold’s monthly payments of $1,400 barely made a dent in the principal amount.

Arnold criticized the dealership for allegedly taking advantage of her lack of financial savvy, a claim that underscores the broader issue of consumer education on auto loans.

The top 100 dealership groups collectively sold 3,215,702 used vehicles in 2023, marking a slight growth of 0.1 percent from the previous year, indicating a stable used vehicle market despite economic fluctuations.

Top 10: Lithia Motors Inc., AutoNation Inc., Penske Automotive Group Inc., Group 1 Automotive Inc., Sonic Automotive Inc., Asbury Automotive Group Inc., Hendrick Automotive Group, Morgan Auto Group, Ken Garff Automotive Group, NR Hudson Automotive Group.

The top 10 dealerships alone accounted for 51.3 percent of the total sales among the top 100 groups, highlighting the concentration of market power within a small number of players.

Acquisitions and expansions were common strategies among the top performers, as dealerships sought to increase their market footprint and capitalize on economies of scale.

GOING TO BE AT ASOTU CON: Lithia, AutoNation, Group 1, Walser, Zeigler, Ourisman, Rohrman, McGovern, Fox Motors, #1 Cochran, Pohanka, Germain, DGDG, Carter Myers, Sam Pack.

Baidu will provide Tesla with a mapping license essential for the operation of its Full Self-Driving technology on public roads in China, enhancing Tesla's navigation capabilities with lane-level precision.

This partnership not only allows Tesla to legally collect vital road data in China but also clears significant regulatory barriers, setting the stage for FSD's deployment in one of the world's largest automotive markets.

It remains unclear whether the data collected through this collaboration will be owned by Tesla or Baidu

The deal coincides with Tesla CEO Elon Musk's recent visit to China, where he met with Premier Li Qiang (Pronounced: Channg)to discuss further approvals needed for FSD's rollout and data transfer protocols.

Electric vehicle registrations continue to climb, representing 8% of all new retail individual registrations in 2023, up from 6% in the previous year.

The Tesla Model Y and Model 3 lead the pack in EV sales, dominating the market with substanti

Petersen, who passed away at 97 on Wednesday was at his home near Detroit in Bloomfield Hills, Mich., his niece Laura Peterson told Automotive News in an email., was celebrated for prioritizing quality and innovation, dramatically boosting Ford's market share and profitability.

Under his leadership, Ford introduced influential designs like the aerodynamic Taurus and Mercury Sable, shifting industry standards towards more customer-focused products.

He was known for fostering a collaborative workplace, which contrasted sharply with the autocratic styles of previous Ford executives. But at times was also said to have had some passionate outbursts. 

Petersen also spearheaded strategic acquisitions, notably purchasing a controlling stake in Hertz and increasing Ford's investment in Mazda, which significantly expanded Ford's global footprint and technological capabilities.

"He insisted on teamwork and excellence in the name of customers and guided Ford through a period of revitalization," stated Ford Motor Co.

Dealer associations are lobbying against direct sales models for new brands like VW Group’s Scout and Honda’s Afeela, pushing for adherence to traditional franchise systems amidst a slowdown in EV market growth.

Tensions rise as dealers threaten to withhold service and parts for brands pursuing direct sales, fearing the impacts on their business model and the established relationships with legacy automakers.

The advertisement by state dealer associations in Automotive News underscores a significant industry rift, as they urge legacy automakers to reconsider direct sales strategies that could bypass traditional dealerships.

"We believe there is a difference between a brand recently born and one seeded, nourished and grown under the protective arm of a legacy automaker," emphasizes the importance of maintaining traditional retail models for established brands.

The survey reveals that 26% of respondents are likely to buy luxury items within the next year, a significant rise from 14% three years prior.

Notably, 15% of Americans have actually purchased luxury goods over the past year, marking a 9% increase since 2021, with shoes, accessories, and beauty p

Ford reports a solid quarterly profit driven by strong sales of work trucks, vans, and a 36% increase in hybrid vehicle sales.

Despite a downturn in the EV market, Ford's Chief Executive Jim Farley emphasizes affordable EVs as a future growth area, with potential models priced between $25,000 and $30,000.

Ford Blue: $21.8 billion in revenue, EBIT of $905 million

Model e: $100 million in revenue, EBIT loss of $1.32 billion

Ford Pro: $18 billion in revenue, EBIT of $3.01 billion

Regarding the future profitability of EVs Farley said, "We are going to build a sustainably profitable EV business," highlighting lessons learned from pricing strategies that boosted sales of their Mach-E SUV.

This investment includes the construction of an EV battery plant in Alliston and two supplier plants in partnership with South Korea's Posco Future M and Japan's Asahi Kasei.

This sets a new high for automotive investment in Canada, trumping the $5B investment by VW, and $7B investment by Sweden based Northvolt

Canadian Prime Minister Justin Trudeau and other top officials will join Honda’s announcement, marking a major expansion of Honda's Canadian operations.

"This move supercharges our North American electrification efforts," said Jean-Marc Leclerc, Honda Canada President, highlighting the strategic importance of this comprehensive investment.

Airlines will now automatically refund passengers who don’t accept changes or credits for flight cancellations, significant changes, or delays exceeding three hours for domestic and six hours for international flights.

The Department of Transportation's new rules also cover refunds for delayed checked baggage and undelivered paid services like Wi-Fi.

These regulations, which roll out within the next 6-12 months, aim to simplify the refund process, ensuring passengers rece

Despite setbacks, Tesla plans to fast-track the introduction of new vehicles, utilizing both current and next-gen platforms, aiming for production on existing lines for efficiency.

The company's shift in strategy includes a focus on developing autonomous vehicles and a robotaxi service, anticipated to transform the future of mobility including a new app that is set to be an Uber/Lyft competitor

When speaking about the much anticipated lower cost Tesla’s Musk said, “In terms of a new product roadmap, there’s been a lot of talk. We’ve updated our future vehicle lineup to accelerate the launch of new models.” Musk said we might see the vehicles in early 2025, if not later this year. He also stressed that new vehicles would be made on existing, functioning production lines.

Amidst speculations of the canceled low-cost vehicle project, Tesla remains committed to its autonomous driving ambitions, with plans for a "robotaxi unveil" set for August.

Tesla stock was up 11% in after hours trading but is still significantly down this year

VinFast now boasts 18 dealerships across seven states, complementing its direct sales in California with a stronger dealership network including new sites in Florida, Texas, Kentucky, and Connecticut.

The Vietnamese automaker looks to enhance its market position, despite initial slow sales, expecting a significant contribution from these dealers in the latter half of the year.

With a major factory underway in North Carolina, VinFast plans to meet U.S. production criteria to leverage a $7,500 federal EV incentive for its models like the VF 8 and upcoming VF 9 crossovers.

Amid expanding global operations, the company is reporting a 400% increase in global vehicle deliveries compared to the same quarter last year.

One South Dakota Dealership, Vern Eide Motors,  restores both hope and a 2008 Chevy Impala for free after its owner, a victim of a repair scam, shared her ordeal publicly.