Asbury Automotive Group Inc. now seeks to produce $32 billion in revenue by 2025 — including $6.2 billion that would come from buying more companies. The revised 2025 revenue target announced Thursday is 60 percent higher than the $20 billion goal the public dealership group had set for the same timetable in December 2020. Asbury, […]
Asbury raises 2025 revenue target to $32B, up from $20B Read More »
Hertz Global Holdings Inc. said first-quarter revenue of $1.8 billion was up 57 percent from a year ago, excluding the Donlen fleet management business sold last year. The company’s adjusted earnings before interest, taxes, depreciation and amortization rose from about breakeven to $614 million, while its average global revenue per day soared 28 percent to
Hertz Q1 revenue rises Read More »
BEIJING/SHANGHAI – Baidu and Pony.ai said on Thursday they had received permits to deploy robotaxis without humans in the driver seat on open Chinese roads for the first time, in another instance of Beijing’s support for the autonomous-driving sector. The permits are the latest set of approvals the municipal government has handed out over the
Beijing grants new robotaxi permits Read More »
All-time-high interest in electric vehicles might not translate into as many sales as automakers and regulators would like in the short and medium term, as supply chain snags are likely to prevent the industry from catching up with growing demand. Automakers and governments have set ambitious targets for EV expansion. Legacy automakers have rolled out
EV adoption faces many speed bumps Read More »
The question of whether the Toyota Supra will get a manual transmission has left enthusiasts guessing since even before the current fifth-generation car, an A90 to fans, made its debut at the 2019 Detroit auto show. Well, enthusiasts need guess no more as Toyota on Thursday finally revealed a Supra with a manual transmission. Starting
Preview: 2023 Toyota Supra arrives with manual transmission Read More »
DETROIT — Ford Motor Co. on Wednesday said it is cutting 580 salaried and agency jobs in the U.S. as it reorganizes under two new divisions. The automaker is eliminating about 350 salaried and 280 agency positions on U.S. engineering teams, according to a spokeswoman. Ford alerted affected employees earlier Wednesday. “We continue to align
Ford cuts 580 salaried, agency jobs in the U.S. Read More »
Getty Images Car production in the UK has continued to fall as manufacturers struggle with global supply chain problems. Almost 100,000 fewer cars were built in the first three months of 2022 compared to last year. Manufacturing has dropped by nearly a third, according to the Society of Motor Manufacturers and Traders (SMMT). The SMMT
UK car production drops as firms struggle to get parts Read More »
Chicago police have arrested a man after he stole an ambulance and led authorities on a chase through the city. Benjamin K. Herrington, 46, stole the Chicago Fire Department ambulance after seeing it parked in front of the firehouse in the 200-block of West Cermak Road in Chinatown. CCTV footage captured the moment that Herrington
46-Year-Old Arrested After Stealing Ambulance, Leading Police On 80-Mile Chase Read More »
Federal prosecutors on Wednesday asked a judge to set aside recent information attorneys for Bob Brockman submitted about the state of his cognitive abilities as the judge weighs whether the former Reynolds and Reynolds Co. CEO is competent to stand trial on tax evasion charges. Brockman’s lawyers’ filing this month, which claimed Brockman’s cognitive functioning
WASHINGTON — A group of 12 U.S. Senate Democrats on Wednesday urged Transportation Secretary Pete Buttigieg to develop a comprehensive federal framework for autonomous vehicles, according to a letter seen by Reuters. “We lag behind in shaping a regulatory framework that will foster this innovation while simultaneously protecting and encouraging all of the important benefits
Senate Democrats urge U.S. transportation chief to develop autonomous vehicle rules Read More »
