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The U.S. Securities and Exchange Commission denied it’s targeting Tesla Inc. CEO Elon Musk with endless probes, as he claimed in a letter to a judge earlier this week. The SEC reached settlements with Musk and Tesla in September 2018 after suing Musk over his infamous “funding secured” tweets in which he claimed to have […]

TOKYO — EV latecomer Toyota hasn’t even launched its first serious electric vehicle yet. But the company is already preparing a full fleet of all-electric cars for the day its EVs go mainstream. That time is not so far away. By the end of the decade, Toyota plans a wide EV lineup encompassing pickups, sports

Small, publicly traded LMP Automotive Holdings Inc. had a goal to roll up dozens of dealerships. It stumbled on a few deals, bought eight franchised stores last year, entered into numerous contracts for more and even purchased a $5.6 million airplane. But now those deals are collapsing. LMP is exploring alternatives, including selling its portfolio

A huge auto transport ship that regularly delivers Porsches, Audis, Bentleys, Volkswagens from Europe to the U.S. is on fire and adrift in the Atlantic. According to an internal Volkswagen Group email obtained by Bloomberg, 3,965 U.S.-bound vehicles are aboard. About 1,100 Porches and 189 new Bentleys, several U.S.-based spokespeople for group brands confirmed to

ACV Auctions Inc. said Wednesday that its revenue surged 86 percent to a little more than $100 million in the fourth quarter of 2021 as it captured more market share and gained dealer partners, but it posted a net loss. The Buffalo, N.Y.-based digital wholesaling firm estimated that it captured 38 percent market share in

Unifor National President Jerry Dias said Wednesday he is taking time off to deal with health issues. The head of the union that represents hourly workers at Detroit 3 plants in Canada and thousands of workers at Canadian auto parts facilities, is currently serving a third and final term as head of Unifor. “To my

WASHINGTON — The nation’s largest auto market and the world’s fifth-largest economy could soon regain the authority to set its own auto tailpipe rules and zero-emission vehicle mandates that are more stringent than federal standards. The EPA is expected as soon as this week to reissue a waiver under the Clean Air Act allowing California

New York State’s retirement plan is ratcheting up pressure on Tesla Inc., calling on the EV maker to disclose how much it spends on settling sexual harassment and racial discrimination complaints. The New York State Common Retirement Fund, among the country’s biggest public pension plans, filed its shareholder proposal last week following a high-profile racial

Asbury Automotive Group Inc. CEO David Hult, whose company’s net income soared to a fourth-quarter record, expects a seasonally adjusted annual U.S. rate of sales of 15.5 million to 16 million vehicles this year. “We are excited about 2022,” Hult told analysts on an earnings call on Tuesday, calling the year an opportunity for Asbury.

Windsor Mayor Drew Dilkens has declared a state of emergency in an effort to keep trade flowing freely at the Ambassador Bridge on the U.S.-Canada border. For six days, protestors, demanding an end to vaccine and mask mandates — with some calling for the ouster of Prime Minister Justin Trudeau — blocked access to the key