News

Tesla Inc. sued a former engineer claiming he illegally transferred confidential information on its supercomputer technology to his own computer and turned over a “dummy” laptop for inspection to cover up the theft. Tesla is developing an in-house supercomputer, dubbed Project Dojo, to deal with massive amounts of data, including video from Tesla cars, and […]

A dealership’s employee diversification strategy can’t be just empty words. It requires an intentional mindset from leadership to set the tone for the rest of an organization, said Frank Williams, who owns four RML Automotive Group dealerships in Alabama and Tennessee. Williams said such an approach was on display when Black Entertainment Television co-founder Robert

Wholesale used-vehicle prices ticked down again in April, marking three full months of slight cooldown after a long stretch of record elevation last year. Cox Automotive said Friday that its Manheim Used Vehicle Value Index, which tracks vehicles sold at Manheim’s U.S. auctions, fell 1 percent in April compared with March. Even though wholesale prices

Jeep is making inroads with consumers looking for smaller crossovers with the freshened Compass, a welcome development for a brand that has at times struggled to compete in the lower end of the market. Compass sales in the U.S. were up 22 percent in the first quarter, to 24,408. Jeep’s progress in the compact segment

Lucid Group Inc. delivered just 360 Air sedans in the first quarter and said it will increase vehicle pricing next month. The California EV startup continues to struggle with supply-chain shortages and rising costs despite a healthy order backlog of 30,000 vehicles, Lucid said during its first-quarter earnings call Thursday. Prices would not rise for

Chinese battery maker CATL said Thursday that its gross profit margins are set to improve as it will raise prices in the second quarter, while suppliers of raw materials will ramp up output to ease tightness. The world’s biggest battery manufacturer, whose clients include Tesla, Volkswagen and BMW, made the comments at an investor Q&A

Magna International Inc. said it launched new advanced driver-assistance functions on the 2022 Toyota Tundra pickup, a key development for the supplier giant as it looks to establish its position as vehicle automation grows. In a Wednesday news release, Magna said the Tundra is equipped with a “complete surround view system” that includes five cameras

Uber Technologies Inc. delivered a positive outlook for earnings in the current period, signaling the company plans to capitalize on robust ride demand without compromising profits by focusing on product changes, rather than incentives, to address the driver shortage. The ride-sharing and delivery company projected gross bookings of $28.5 billion to $29.5 billion in the

Publicly traded retailers Penske Automotive Group Inc. and Lithia Motors Inc. each announced single-store acquisition deals on Tuesday. Penske said it has acquired a Hyundai-Genesis dealership in Noblesville, Ind., near Indianapolis, its first of those brands in that region, from dealer Terry Lee. Financial terms of the deal, which closed Monday, were not disclosed. The

SHANGHAI — Local government authorities helped Tesla Inc. transport over 6,000 workers and carry out necessary disinfection work to reopen its plant here last month amid the city’s lockdown, according to a letter that Tesla sent to local officials and seen by Reuters. The letter, dated May 1 and addressed to local authorities in Shanghai’s