News

CarMax sales fall, but it holds onto per-vehicle profit

CarMax Inc., like other major players in the automotive retail realm, finds itself trying to maneuver through a year hampered so far by sunken buyer confidence. In its fiscal first quarter, CarMax retailed 240,950 vehicles. That’s down 11 percent year over year. Company executives last week attributed the slump to a downturn in consumers’ willingness

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Supplier Toyota Boshoku sees quadrupling of sales through self-driving pod car interiors

TOYOTA CITY, Japan — Imagine zipping down the highway of tomorrow in a self-driving pod car. You’re on a long-haul, cross-country trip; you don’t have time to stop for a restaurant. With the push of a button, the meal is ordered. Before long, a drone catches up to your speeding vehicle. It hovers near a

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Ford F-150 Raptors, Mustangs targeted by thieves at Detroit-area plants

Thieves made off with 13 F-150 Raptors and six Mustangs from Ford Motor Co. assembly plants in the Detroit area this month. A majority of the vehicles were later found damaged. The Raptors — a wider, more off-road-oriented version of Ford’s top-selling F-Series pickup — were worth a total of almost $1 million, The Detroit

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GM investment opens UVeye tech to dealership service departments

General Motors said it made an undisclosed investment in UVeye, an Israeli-based automated vehicle inspection technology developer, through its GM Ventures unit. As part of the collaboration, announced Wednesday, GM will have access to UVeye’s technology, such as an underbody scanner that can detect frame damage; a system that checks tire quality and issues such

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China’s chipmaking industry helped by U.S. sanctions

China’s chip industry is growing faster than anywhere else in the world, after U.S. sanctions on local champions from Huawei Technologies Co. to Hikvision spurred appetite for home-grown components. Nineteen of the world’s 20 fastest-growing chip industry firms over the past four quarters, on average, hail from the world’s No. 2 economy, according to data

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Bruton Smith, auto retail and racing pioneer, dies

Bruton Smith, a longtime car dealer and pioneer in public automotive retail, as well as NASCAR hall-of-famer, racetrack owner and philanthropist, died on Wednesday. He was 95 and died of natural causes, according to Sonic Automotive Inc., the public dealership group he founded. Smith launched Sonic Automotive of Charlotte, N.C., as a public company in November

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