Oct 24, 2024
Dealer Headlines
GM Canada delays St. Catharines EV motor output until 2027, affecting 1,000 workers
Unifor opened a labor action center in Niagara Region this month to help about 1,000 members find work following layoffs and retooling delays at General Motors Canada’s St. Catharines Propulsion Plant.
Oct 23, 2024
GM is working to restructure its struggling business in China, where its market share has fallen amid heightened competition, particularly from domestic brands selling low-priced EVs.
Oct 23, 2024
Dealer Headlines
Tesla Q3 net income rises 17% to $2.2 billion; total revenue up 8% to $25.2 billion
Tesla said it expects to launch lower-cost models next year. "Plans for new vehicles, including more affordable models, remain on track for start of production in the first half of 2025."
Oct 23, 2024
Dealer Headlines
Lithia saved $50 million more than planned through Q3, sees another $100 million soon
Lithia Motors Inc. by the end of the third quarter reduced expenses by $50 million more than the group's original target for a cost-cutting initiative launched this year, COO Adam Chamberlain said Oct. 23 on the company's Q3 earnings call.
Oct 23, 2024
Dealer Headlines
Texas man, caught up in dealerships’ feud, ticketed for missing license plate during test drive
Longo Toyota of Prosper said it was the first such incident, but police reportedly told the man they were having problems with area dealerships.
Oct 23, 2024
British automated driving startup Wayve has opened an office in Sunnyvale, Calif., where it will locate a test fleet that's learning how to drive on American roads.