Penske Q4 revenue, net income set records
Penske Automotive Group’s fourth-quarter revenue reached an all-time high and net income set a fourth-quarter record. CEO Roger Penske lauded execution and the company’s diversified business mix.
Honda wants to keep capping incentive spending as inventories recover
U.S. inventory levels have shrunk to a mere 11 days, which has allowed Honda to chop about $738.5 million from incentive spending.
Toyota again cuts full-year sales and production outlook as profits plunge
In the latest quarter, operating profit fell 21 percent but Toyota still delivered a double-digit operating profit margin of 10.1 percent.
Watch BMW's entire Super Bowl ad with Arnold Schwarzenegger as an aging Zeus
BMW’s ad plugging EV shows what happens when the Greek god retires to Palm Springs. Eddy Grant’s song “Electric Avenue” also gets some buzz in the EV era.
After Tesla's Elon Musk complained for months, President Biden acknowledges the automaker
President Joe Biden publicly acknowledged Tesla’s role in U.S. electric vehicle manufacturing after CEO Elon Musk repeatedly complained about being ignored.