Lithia Q1 net income down 28% as 'normalization' returns to profit per vehicle
Lithia Motors said it sold 188,119 new and used vehicles, with gross profit per vehicle dropping 22% to $4,346 in the first quarter.
CEO Mary Barra's pay declined 3.9% to $27.8 million as GM missed stock targets
After eight consecutive years as the highest-paid Detroit 3 CEO, Barra’s compensation trailed the $39 million Stellantis shareholders approved for Carlos Tavares.
VW to launch youth-focused EV brand for China
The ID UX subbrand is the automaker’s bid to recapture market share lost to local rivals such as BYD. VW also showed the ID Code crossover concept ahead of the Beijing auto show.
Mercedes explores electric frontier with G-Wagen off-roader
The G 580 retains the iconic boxy ladder frame design but ditches a combustion engine for a quartet of electric motors and a hefty 116-kilowatt-hour battery.
Seating supplier Adient plans European job cuts as part of restructuring plan
Adient is cutting jobs in Europe and transferring other roles to countries with lower labor costs, becoming the latest parts maker to eliminate positions in the region.