Jaguar Land Rover production hit by flooding at aluminum suppliers
Supplies of aluminum have been impacted by floods in Switzerland. Porsche, Mercedes, BMW and Audi are also affected.
Pricing, interest rates temper sales rebound
Overall growth is expected to slow in the second half after sales rose 2.2 percent in the first six months of 2024. Analysts say high interest rates and borrowing costs as well as elevated prices are preventing more robust demand.
Lithia increases stake in Pinewood DMS company to more than 25%
Lithia Motors Inc. now owns more than a quarter of the U.K. dealership management system provider Pinewood Technologies following purchases of nearly 5 million shares in the months since its initial minority investment.
Seating supplier to cut jobs in Detroit after truck discontinuation
Bridgewater Interiors is planning to lay off 63 employees at its Detroit plant after Stellantis discontinues the Ram 1500 Classic.
Intel's grim forecast could concern automakers in wake of microchip crisis
Intel is a major supplier of semiconductors to the automotive industry, having supplied chips installed in more than 50 million vehicles. Intel says 18 automakers have vehicles with Intel chips on the road for use in their EVs and software.