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News
Ford, China’s Geely to build cars in Spain in joint venture
1+ day, 13+ hour ago (704+ words) The deal calls for the automakers to build two new Ford multi-energy vehicles and two new Geely electric SUVs at the Valencia plant. Ford Motor Company will enter a joint venture with China-based Geely Auto to build cars at the…...
Ally Financial sees loan applications rise to record levels in Q2
1+ day, 13+ hour ago (544+ words) The lender’s increase in applications from the top of the purchase funnel allows Ally to be more selective while growing volume. Ally Financial is finding success with encouraging its dealers to send Ally 100% of their credit applications. That gives Ally…...
Penske and Mitsui seek to take Penske Auto private in $3.8B deal
2+ day, 12+ hour ago (467+ words) Two current owners of global retailer Penske Automotive Group are offering $210 a share, subject to shareholder and regulatory approval. Penske Corp., Tokyo-based Mitsui & Co. Ltd., and Mitsui’s New York-based U.S. subsidiary announced a proposal on July 22 to acquire the 27.8% of…...
Honda confirms next-gen Ridgeline pickup
2+ day, 12+ hour ago (416+ words) Set to arrive within two years, the third-generation Ridgeline will continue to be built in Alabama. A completely new third-generation Honda Ridgeline pickup will arrive “within two years,” Honda announced Thursday, and production of the Ridgeline will pause later in…...
Tesla reports strong Q2 deliveries and revenue, weaker profits amid big spending
2+ day, 13+ hour ago (850+ words) Expenditures on other projects, like its Optimus robot and scaling its Robotaxi business, leave investors holding out for future returns. Tesla delivered 480,126 vehicles in the second quarter of 2026, a 25% year-over-year increase, making it the best Q2 in company history. It included…...
Xpeng will enter US auto market, when allowed
3+ day, 13+ hour ago (841+ words) The China-based EV and tech startup is expanding in Europe but also is eyeing the potential of North America, according to its CEO. China-based eletric vehicle and technology startup Xpeng is prepared to enter the lucrative U.S. market when the political…...
Exclusive: Xpeng will enter US auto market, when allowed
3+ day, 13+ hour ago (855+ words) The China-based EV and tech start-up is expanding in Europe, but also is eyeing the potential of North America, according to its CEO. China-based eletric vehicle and technology start-up Xpeng is prepared to enter the lucrative U.S. market when the political…...
GM reports net revenue of $48B in Q2, but EV losses dent margins
3+ day, 14+ hour ago (590+ words) The automaker also cited cost pressures tied to inflation and the manufacturing expenses related to onshoring more production to the U.S. for the decline in Q2 profit. GM also cited cost pressures tied to inflation and manufacturing expenses related to onshoring more…...
Why auto dealer M&A activity could hit record levels in 2026
3+ day, 14+ hour ago (689+ words) Dealers are increasingly eyeing luxury brands as well as volume franchises such as Honda and Toyota. But that’s only part of the surge. It’s a “K-shaped” dealership M&A market, as buyer demand drives up the price for the most…...
Stellantis appoints new CEOs for Jeep, Ram brands
4+ day, 13+ hour ago (425+ words) Matt VanDyke, who has been tapped to lead Ram, previously served as CEO of FordDirect. Broderdorf has served as Jeep CEO since February 2025, but will be taking time off for medical leave. When he returns, he will assume another leadership…...