Despite a modest increase in sales last year, Mitsubishi Motors earnings took a tumble during the most recent quarter. Bargain-basement pricing and rising incentives took much of the blame. But it hasn’t helped that the automaker has a miniscule product lineup that leaves little for dealers to sell. Company officials now hope to tap allies Nissan and Renault to help add new products to help put Mitsubishi back on the radar, especially in the critical U.S. market.
The National Highway Traffic Safety Administration moved its probe into Tesla’s power steering loss from a probe to an engineering analysis as the company recalled 2.2 million vehicles due to a font size issue. Get details at Headline.News.
Japanese automakers, boosted by their hybrid technology, posted sales gains in January, and South Korean automakers saw sales of their EVs increase. Get the details about January sales at Headlight.News.
Struggling Polestar faces some serious financial challenges now that Volvo, its Swedish parent, plans to cut off funding for the battery-electric startup. It’s the latest sign of retrenchment by the auto industry as the rapid growth of EV sales has started to flatten out. Volvo itself continues to move forward with plans to become an all-electric brand by decade’s end. Investors applauded the move — and Volvo’s stronger than expected earnings.
More vehicle buyers — new and used — said they were satisfied with the experience in 2023 than the previous two years, according to a new Cox Automotive study. Electric vehicle buyers were the happiest with 80% saying they were satisfied. Find out more at Headlight.News.
Not long ago, Lexus buyers had a single utility vehicle to choose from: the time-tested RX. Today, the Japanese luxury brand has one of the broadest portfolios of SUVs and CUVs on the market. That includes the Lexus GX which, for 2024, gets a ground-up makeover. There’s a new chassis, a new engine, a more classic exterior design and a more high-tech interior. There’s also the all-new Overtrail trim package which adds more rugged features that, as its name suggests, will allow for more serious off-road adventures. Headlight.News headed down to Tucson, Arizona to test out the 2024 Lexus GX.
Ford was the first automaker to tie up with Tesla, announcing plans to switch to the NACS plug letting owners of products like the Mustang Mach-E and F-150 Lightning use the big Tesla Supercharger network. Ford CEO Jim Farley on Wednesday announced “eligible” owners...
Calling the deal “unfathomable,” a Delaware court has blocked the $565 billion pay plan awarded Tesla CEO Elon Musk in 2018. The move could spell trouble for Musk’s current demand for 25% control of the EV maker while also raising concerns about his floundering social media site, X, which relied on loans backed by Tesla stock. More from Headlight.News.
Japanese automaker Mazda continues the revamping of its sport-utility portfolio with the reveal of its 2025 CX-70. However, don’t be fooled by the name. This isn’t something that sits between the CX-50 and CX-90 in size — it’s simply a two-row CX-90. Find out more at Headlight.News.
After reporting a profitable 2023 that exceeded their own expectations, GM officials revealed they’re deploying plug-in hybrid vehicles — for certain models — to the North American market. It was a decision made after reviewing and tweaking its EV production plans and feedback from dealers. Find out more from Headlight.News.
Detroit-based automaker General Motors beat its internal guidance numbers for the 2023 earnings while raising the bar for 2024. The higher earnings forecast comes despite sizeable rise in costs expected due to the new UAW labor contract. The automaker beat its...
The New Year got off to a rough start for Rivian, the start-up slammed by investors nervous about slowing growth in EV sales. But the market is taking notice of the news that Rivian has poached DJ Novotny, the vice president of hardware engineering away from Apple. The move comes as the tech giant reportedly again delayed – by as much as four years – its secretive Apple Car program. More from Headlight.News.