Ford took a hit in the fourth quarter courtesy of a massive charge, reporting a loss for the period. However, the company saw its revenue rise and it finished in the black for 2023. Get details at Headlight.News.
Sales
Rivian Announces March 7 Reveal for Lower-Priced R2 Line
Rivian plans to take a step closer to becoming a full-line automaker next month, the automaker confirming it will reveal its R2 line on March 7. Smaller than the existing R1T pickup and R1S SUV, the R2 models also will be more affordable, officials last year indicating they could start around $40,000. Get the details at Headlight.News.
BMW Makes Good on Its Manual Promise
BMW executives have repeatedly mentioned the Bavarian automaker’s product plans included plenty of future cars with manual transmissions, including one in particular: the Z4. The company confirmed plans for a “handschalter” model for 2025. Get details at Headlight.News.
Tesla Recalls, Musk’s Pay and the Lexus GX Some of This Week’s Headlight News Podcast
Headlight News for the Week of 2-5-24: Tesla Recalls, Musk’s Pay, Chicago and Geneva Auto Shows, Lexus GX Review and The Week Ahead. Check out the podcast for the latest.
Mitsubishi Turns to Allies to Flesh Out its Meager Lineup
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.
Federal Safety Officials Upgrade Tesla Power Steering Probe
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.
Healthy January Sales Get Car Business Off to Good Start in 2024
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.
Volvo Cuts Off Funding for Polestar
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.
Buyers Happier about Vehicle Purchasing Experience in 2023
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.
First Drive: 2024 Lexus GX 550 — A Complete Makeover
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.
Mazda Takes Wraps off New Ute: 2025 CX-70
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.
GM Bringing Plug-In Hybrids to North American Market
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.